Acesian Partners Walks Away from Proposed Acquisition of Industrial Premise

MT Newswires08-08

Acesian Partners (SGX:5FW) decided not to follow through with the proposed acquisition of an industrial premise located at Senai Industrial Area in Malaysia, according to a filing with the Singapore Exchange on Wednesday.

The provider of air-conditioning and electrical systems had initially signed an offer to purchase the property from All Security Technology through its wholly-owned subsidiary, Acesian Engineering, for an aggregate cash consideration of 8 million ringgit. The company had transferred a sum of 160,000 ringgit.

However, due to AEM's disagreement with some of the terms set by the vendor, the company is now seeking a refund of its deposit.

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