First Malaysian plantation Spac ahead as Chemara gets ready

Chemara Palmea Holdings has filed a prospectus to list in Malaysia and, if successful, will become the first special purpose acquisition company (Spac) to focus on the plantation sector. With Spacs still a nascent part of the Asian market, observers reckon Chemara’s deal will be a test of how comfortable institutional investors are with buying into shell companies, writes Rashmi Kumar.