The Board of Directors of Advanced Systems Automation Limited announced that on 2 July 2024, the Company had received a letter of demand (the "Letter") from ASTI Holdings Limited ("ASTI") demanding full repayment of the outstanding debt amount owed to ASTI of SGD 886,283.72 (the "Debt") within 7 days, by 9 July 2024. In the Letter, ASTI had stated that if repayment of the Debt is not made in full within 7 days, ASTI shall take such action to recover the Debt that is to be without the cooperation of the Company. The Company is currently evaluating its possible options.

The Board will make further announcements on any material developments on the above, as and when necessary.