Advanced Systems Automation Limited (ASA) Issues Key Corrigendum on Convertible Instrument Dealings

Key Highlights

• ASA releases a corrigendum in response to SGX RegCo queries, specifically updating shareholders on convertible instrument transactions involving its subscribers.
• The company provides a detailed list of listed entities in the Asia-Pacific region that have previously issued similar convertible instruments to the same subscribers.
• This update replaces previous disclosures and may be material for investors monitoring the company’s financial and strategic activities.

Details of the Corrigendum

The Board of Directors of Advanced Systems Automation Limited (“ASA” or the “Company”) has issued a corrigendum to its earlier announcement dated 1 November 2025. This update specifically pertains to Query 16 from SGX RegCo, which asked ASA to identify listed companies in the Asia-Pacific region that have engaged in similar convertible instrument transactions with the company’s subscribers.

Key Changes and Shareholder Notification

• Supplemental Disclosure on Convertible Instruments: ASA’s response to Query 16 has been deleted and replaced with a more comprehensive disclosure. The company now provides a full appendix listing all issuers that, in recent years, have issued similar convertible instruments subscribed by ASA’s subscribers, either collectively or individually. This list was provided by the subscribers themselves and has not been independently verified by ASA.
• Appendix 2 Updated: The previous Appendix 2 from the 1 November 2025 announcement was deleted and replaced with a new list of companies across several Asia-Pacific markets, including Malaysia, Thailand, Indonesia, Singapore, Australia, and Hong Kong.

Full List of Relevant Companies

The subscribers in question have participated in similar convertible instrument transactions with the following publicly listed companies:

• Malaysia: Magma Group Berhad (formerly Impiana Hotels Berhad)
• Thailand:
  • Cho Thavee Public Company Limited
  • JCK Hospitality Public Company Limited
  • PP Prime Public Company Limited
  • International Research Corporation Public Company Limited
  • CMO Public Company Limited
  • JKN Global Media Public Company Limited
  • Eureka Design Public Company Limited
  • AJ Advance Technology Public Company Limited
  • G CAPITAL Public Company Limited
  • Grande Asset Hotels and Property Public Company Limited
  • East Coast Furnitech Public Company Limited
• Indonesia: PT Widodo Makmur Perkasa TBK
• Singapore: Advanced Systems Automation Limited
• Australia: Osteopore Limited
• Hong Kong:
  • China Kingstone Mining Holdings Ltd
  • Anchorstone Holdings Limited

Implications for Shareholders

• Transparency and Precedent: The disclosure of the subscribers’ extensive participation in similar convertible instruments across the region provides shareholders with important context regarding the nature and experience of the parties involved in ASA’s own convertible instrument deal. This may affect investor confidence, as it highlights the subscribers’ track record and the potential for similar deal structures.
• Potential Price Sensitivity: Shareholders should note that this corrected and expanded disclosure could be price-sensitive. The involvement of these subscribers in multiple deals across Asia-Pacific may be interpreted in various ways – either as a vote of confidence in such instruments, or as a signal of higher risk if any of the referenced transactions have had mixed outcomes for other listed entities.
• Company Due Diligence: ASA has clarified that the information was provided by the subscribers and has not been independently verified by the company. Investors should be mindful of this caveat when assessing the reliability and implications of the disclosed information.

Other Announcements

The Board confirms that, aside from this updated response and the revised Appendix 2, there are no other changes to the previous announcement dated 1 November 2025.

Conclusion

This corrigendum ensures greater transparency regarding ASA’s convertible instrument transaction partners and their history with other listed entities in the region. Investors should closely monitor developments and consider both the strategic implications and the risk profile associated with such transactions.

Contact and Compliance Information

The announcement was reviewed by the company’s sponsor, ZICO Capital Pte. Ltd., but not by the Singapore Exchange Securities Trading Limited, which assumes no responsibility for its contents.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult professional advisors before making any investment decisions.

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