Advanced Systems Automation Limited Receives Demand for S\$627,708.56 Payment from Zico Capital

Key Highlights

• Advanced Systems Automation Limited (“ASA” or “the Company”) has received a formal Letter of Demand dated 5 March 2026 from Zico Capital Pte. Ltd. (“ZICAP”).
• ZICAP is claiming payment of S\$627,708.56, which includes interests, allegedly owed under engagement agreements with ASA.
• The Letter of Demand requires payment to be made within seven days from the date of the notice.
• The Board of Directors is currently reviewing the claim and the underlying engagements, including the performance aspects of the agreements in question.
• ASA has stated that it intends to respond formally to the claim in due course and is actively assessing its legal position.
• The Company has reserved all its rights in this matter and will provide further updates on any material developments, especially regarding the potential impact on the Group’s financials.

Details of the Case

On 5 March 2026, Advanced Systems Automation Limited received a Letter of Demand from Zico Capital Pte. Ltd. The letter claims that ASA owes ZICAP a sum of S\$627,708.56, including interest, under alleged obligations in various engagement agreements. ASA is required to make payment within seven days of the notice, putting the Company under immediate pressure to address the legal demand.

The Board has acknowledged receipt of the demand and is presently examining both the validity of the claim and the performance of the underlying engagements. ASA has indicated that it will respond formally to ZICAP after conducting its assessment and seeking legal advice.

Potential Impact on Shareholders and Share Price

• The size of the claim (S\$627,708.56) could have a material impact on ASA’s financial position, especially if the Company is required to pay the full amount demanded.
• There is uncertainty regarding the outcome of the dispute, which could affect investor confidence and the Company’s share price in the short term.
• The Company has committed to providing updates on any further material developments, including the financial impact, as legal advice is obtained and as the situation evolves.
• Shareholders and potential investors are advised to exercise caution when dealing in the shares of ASA due to the ongoing legal matter and its possible implications.

Guidance for Investors

The Company emphasizes that shareholders and investors should remain cautious and seek professional advice if in doubt about any action to take regarding their shares. The Board is actively managing the situation and will disclose further information as required.

Regulatory Context

This announcement has been reviewed by the Company’s Sponsor, Asian Corporate Advisors Pte. Ltd. However, it has not been examined or approved by the Singapore Exchange Securities Trading Limited, which assumes no responsibility for its contents.

Investors may contact Mr. Liau H.K. at Asian Corporate Advisors Pte. Ltd. for further information on the matter.

Disclaimer: The above article is for informational purposes only and does not constitute investment advice. Shareholders and potential investors are strongly advised to consult their stockbrokers, bank managers, solicitors, accountants, or other professional advisers before making any investment decisions. The outcome of the legal dispute is uncertain, and the Company’s financial position may be affected depending on the resolution of the matter.

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