Advanced Systems Automation Receives Statutory Demand from ASTI Holdings

MT Newswires08-28

Advanced Systems Automation (SGX:WJ9) has received a statutory demand letter from ASTI, requiring repayment of outstanding management fees amounting to SG$396,941 by Sept. 16, according to a Tuesday filing on the Singapore Exchange.

The demand concerns a corporate support services agreement terminated by Advanced Systems Automation on May 28.

ASTI's legal representatives, Harry Elias Partnership LLP, indicated that failure to settle the debt by the specified deadline could lead to a winding-up application against the company.

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