Advanced Systems Automation Receives Loan Demand Letter from Telford Services

MT Newswires

2024/06/20

Advanced Systems Automation (SGX:5TY) received a letter of demand from Telford Services over an outstanding debt owed to the creditor by the company of about 1.1 million ringgit, according to a filing with the Singapore Exchange on Wednesday.

The creditor has given a deadline of June 25 for the full payment of the loan while the company has started taking measures to negotiate a more favorable repayment plan.

The debt was acquired following the disposal of its former 90% owned subsidiary, ASA Multiplate.

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