Advanced Systems Automation Limited Receives Official Order from CAD for Ongoing Police Investigation

Key Points from the Announcement

• Order Received: On 10 November 2025, Advanced Systems Automation Limited (“ASA” or “the Company”) received an official “Order Under Section 20 of The Criminal Procedure Code 2010 to Produce Document or Other Thing” from the Commercial Affairs Department (CAD) of the Singapore Police Force.
• Document Submission Deadline: The Company is required by law to provide specific documents relating to the Group to the CAD by 10 December 2025 as part of the ongoing investigation.
• Background: This follows earlier police reports lodged by the Company, as announced on 22 July 2025 and 3 October 2025, and operational updates shared on 24 June, 18 July, and 24 July 2025.
• Full Cooperation: The Board and management have committed to fully cooperating with the CAD and will supply all relevant documentation within the stipulated timeframe.
• Investigation Status: As of the announcement date (13 November 2025), the investigations are still ongoing, and the Company has not received further information due to the confidential nature of the process.
• Shareholder Guidance: The Board advises shareholders and potential investors to exercise caution when trading ASA shares, given the potential material impact of the investigation’s outcome.
• Further Updates: The Board will provide additional updates based on legal advice as and when significant developments occur.

Potential Price-Sensitive Information

• Legal and Regulatory Risks: The mandatory production of documents as part of a police investigation may point to serious matters under review. Such investigations, depending on their nature and findings, can have significant implications for ASA’s business operations, reputation, and financial health.
• Share Price Impact: The uncertainty and potential for adverse outcomes may affect investor sentiment and share price volatility. If any material breach or wrongdoing is uncovered, there could be substantial impacts on ASA’s valuation, governance, and future prospects.
• Confidentiality and Uncertainty: The fact that the investigation is ongoing and confidential means investors lack visibility into the underlying issues and eventual outcomes. This heightens risk for shareholders, who should monitor further disclosures closely.

What Should Shareholders Know?

• ASA’s Board and management are fully cooperating with law enforcement and will comply with all legal requirements, including document submission deadlines.
• There is currently no further information on the investigation’s progress or possible outcomes, but the Board has pledged to keep shareholders informed as matters develop.
• Shareholders and prospective investors are urged to exercise caution and seek professional advice before trading in ASA’s securities due to the potential for price-sensitive developments arising from the investigation.

Contact Information and Regulatory Review

This announcement has been reviewed by the Company’s sponsor, ZICO Capital Pte. Ltd., but not by the Singapore Exchange Securities Trading Limited (SGX-ST). SGX-ST does not assume responsibility for the contents of this announcement.
Contact for Sponsor: Ms. Goh Mei Xian, ZICO Capital Pte. Ltd., 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, Tel: (65) 6636 4201.

Disclaimer: This article is prepared for informational purposes only and does not constitute financial advice or an offer to buy or sell securities. Investors should refer to official Company disclosures and consult with professional advisers before making investment decisions. The outcome of the investigation remains uncertain and may materially affect the share price and operations of Advanced Systems Automation Limited.

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