Details for Investors

ASTI Holdings Limited has reported that its wholly-owned subsidiary, Reel Service Limited (RSUK), has received three Post Clearance Demand Notes from the UK tax authority, His Majesty’s Revenue and Customs (HMRC), alleging underpayment of Value Added Tax (VAT). The total amount being demanded by HMRC is approximately GBP 482,565, which translates to around S\$825,476.

The company was formally notified of these demand notes on 14 November 2025, with the notes themselves dated 11 November 2025. RSUK has disputed the HMRC assessment and has initiated a formal appeal process. The outcome of this appeal remains uncertain.

Possible Share Price Impact

Shareholders should be aware that if the tax liability is upheld and RSUK is required to pay the full amount demanded by HMRC, this could have a significant and material impact on ASTI Holdings’ financial results for the current financial year. Such a development could affect the Group’s profitability and potentially its share price, depending on the magnitude of the payment relative to its earnings and cash reserves.

The company has committed to providing further updates in compliance with the Singapore Exchange listing rules as and when there are any material developments on this issue. Investors should monitor announcements closely for any changes regarding the appeal’s outcome and the financial implications thereof.

Management’s Position

The announcement was made by Mr Ng Yew Nam, the Executive Chairman and CEO of ASTI Holdings Limited, underscoring the seriousness with which the company is treating this matter. The leadership’s swift action to appeal suggests a robust defense and the possibility that the final liability may differ from the amount currently demanded.

Conclusion

This notification is a potentially price-sensitive event. The outcome of RSUK’s appeal against HMRC’s VAT demand could materially affect ASTI Holdings’ financial results and thus its share price. Investors are advised to stay alert for further updates from the company.

Disclaimer: This article is based on public filings and may contain forward-looking statements subject to risks and uncertainties. Investors should not rely solely on this information for their investment decisions and are advised to consult professional financial advisors for specific advice.

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