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Advanced Systems Automation to acquire 3 companies for $10 mil

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Advanced Systems Automation to acquire 3 companies for $10 mil

Stanislaus Jude Chan Published on Mon, Apr 09, 2018 / 9:20 AM GMT+8

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SINGAPORE (Apr 9): Advanced Systems Automation has agreed to acquire the entire issued and paid-up share capital of three companies – Yumei Technologies, Yumei REIT, and Pioneer Venture – for a total of $10 million.

All three companies are wholly-owned by Seah Chong Hoe and his spouse.

Some $6.5 million of the purchase consideration will be fulfilled via the allotment and issue of ASA shares to Seah at 0.1 cent apiece, which will see Seah become a controlling shareholder of ASA.

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