As PZC is effectively a shell, it's not unusual for a business...

As PZC is effectively a shell, it's not unusual for a business to backdoor listed in to a shell. Nor is it unusual that it's a related party transaction i.e. the vendor or one of it's representatives sitting on the board.

It is unusual however, to have one of those related parties being Mr Peter Chai defaulting on his commitment to recapitalise the company i.e. underwriter.

After attending the companies AGM, I am of the opinion that we should be provided with an update from the company in the next few weeks.