Asia-Pacific Strategic Investment (SGX:5RA) will no longer proceed with its planned crypto and blockchain investment in Timor-Leste following a settlement agreement with Giant Venture Group.
The company agreed to return Giant Venture's $8 million investment in two tranches, with the first tranche already refunded, according to a Monday filing with the Singapore Exchange.
The development comes after the investor reached out to a non-executive director to complain about unremitted funds worth $4 million, prompting the director to file a police report.
The police questioned Choo Yeow Ming, the company's chief executive and chairman, about the proposed Timor-Leste business. This led to the parties settling for the return of funds.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。