UAC - Too good to be true for those with zero/ low income tax bracket

Anyone with 0% or low income tax bracket will be able to benefit from the proposed RM1.33 less 25% dividend from UAC, provided the proposed SCR is approved by the shareholders in an EGM to be convened in October.

How much an investor with 0% income tax bracket will get from the SCR?

Say purchasing 1,000 shares of UAC at current price of RM4.20/share, investment RM 4200 + 1% (brokerage + other fees) = RM4242

Cash flow from the investment

RM 1000 (RM1.33 less 25% tax, within 4 months)
RM 3300 (Capital reduction and repayment, about 4 months' time)
RM 330 (Refund from IRB under Section 108)

Total cash inflow RM 4630

Investment RM4242

Assume total brokerage + other fees 2%

Return = 9.1%-2% = 7.1% in about 4 months.

Annualised return 21.3%