Red Sena Berhad (KLSE:RSENA) is seeking acquisitions. Red Sena Bhd is confident of securing a qualifying acquisition (QA) within the next 12 months ahead of the December 2018 deadline. The food and beverage (F&B) special purpose acquisition company (SPAC) has identified and studied some 50 companies from Malaysia, Vietnam, Thailand and Indonesia so far, according to Ian Yoong Kah Yin, Business Development Director of Red Sena. Ian Yoong Kah Yin, said, "We can't disclose at what stage we're in until we have signed a conditional sales and purchase agreement. We've also signed non-disclosure agreements with the potential companies. Although there are more acquisition targets in Malaysia, the SPAC has also identified Vietnam as an attractive destination due to its "high growth potential" in the F&B sector. What's important is that the QA is scalable in the sense that it can grow very quickly in the region. We need something QA with a profitability of above MYR 10 million. Johnny Tan Eng Gooi, corporate finance manager of Red Sena, said “The number of companies it deems a potential acquisition target changes as discussions and screenings are on an ongoing basis.”