Advanced Systems Automation Gets Demand Letter Over Debt

MT Newswires07-03

Advanced Systems Automation (SGX:WJ9) received a formal letter of demand from ASTI Holdings, demanding full repayment of an outstanding debt totaling SG$886,283.

In a statement to the Singapore Exchange, Advanced Systems' board confirmed the receipt of the demand, requiring the debt settlement within seven days, by July 9.

The demand stipulates that failure to meet this deadline may lead ASTI to pursue legal action to recover the debt, alongside seeking costs from Advanced Systems.

Advanced Systems is currently consulting independent legal advisors to assess its options in response to the demand and will provide updates on any significant developments.

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