Advanced Systems Automation Faces Legal Threat from ASTI Over Unpaid Fees

MT Newswires

2024/11/06

Advanced Systems Automation (SGX:WJ9) said ASTI Holdings (SGX:575) demands repayment of SG$396,941 in outstanding management fees, according to a Tuesday filing on the Singapore Exchange.

After previous announcements regarding the statutory demand, ASAL received a letter from ASTI's lawyers on Nov. 1, rejecting claims of bad faith and insisting on payment within seven days.

ASTI warned it would pursue legal action if Advanced Systems Automation fails to comply. Advanced Systems Automation intends to contest the claims and protect shareholder interests.

Price (SGD): S$2752.50, Change: S$+2.8, Percent Change: +0.10%

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