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1-6 of 6
Super weird manipulated share
Takeover at 20 cent
But still put buyers trade above 55 cent
Inviting sgx to investigate
Not smart this operator
Ascent Bridge expects loss for 1HFY2025 in profit guidance
Ascent Bridge has guided for a loss in 1HFY2025 ended September, according to a Nov 6 bourse filing.
According to the group, the loss is mainly attributable to a decrease in sales in 1HFY2025 as compared to 1HFY2024. This comes on the back of a loss in sales from duty-paid domestic markets such as Hong Kong and Macau.
The group says that within the same period, revenue was generated mainly from duty-free channels.
Currently, the group has established presence in 15 countries and markets and formed partnerships with 16 international airlines in duty free channels. That said, with manpower and cash constraints, the group could not carry on with marketing and promotional activities to boost sales, adds Ascent Bridge AWG .
Ascent Bridge chief executive faces bankruptcy charges
A BANKRUPTCY application has been filed against Sun Quan, the chairman and chief executive officer of Ascent Bridge : AWG -10.71%.
The application, made on Mar 2, arose from Sun&rsquo s guaranteed repayment of a loan made to one of his wholly-owned companies. That company is not a subsidiary of the group.
Sun has informed Ascent Bridge that he is settling the matter, and will inform its board of the progress.
On Friday (Mar 10), the group said it already had plans to &ldquo manage the key-man risk for business continuity&rdquo .
Ascent Bridge was known as AEI Corporation before the former metal products manufacturer changed its name in March 2022. It had plans to diversify into the alcoholic beverages business, after completing its acquisition of MTBL Global.
Bankruptcy application filed against owner of Ascent Bridge.
Case Number: HC/B 635/2023
No announcement by list co.
Joelton ( Date: 23-Dec-2022 09:08) Posted:
Ascent Bridge says proposed acquisitions not going through
Ascent Bridge, formerly known as AEI Corp, says its proposed acquisitions with Octopus Global Holdings Pte. Ltd. (OGHPL) and Octopus Investment Pte. Ltd. (OIPL) are not going through.
OGHPL and OIPL are mainly in the business of the distribution of alcoholic and non-alcoholic drinks and liquor in Singapore and Malaysia.
This is because the conditions stipulated in the agreements entered into were not fulfilled or waived as at the long-stop date of Dec 21. The agreements have &ldquo therefore lapsed&rdquo and the company will be retrieving its refundable deposit of $5 million.
On April 22, Ascent Bridge entered into share purchase agreements (SPAs) with OGHPL and OIPL. Under the SPAs, Ascent Bridge was supposed to acquire 80% of the shares in Octopus Distribution Networks Pte. Ltd. and Cape Exim Pte. Ltd. for $57.8 million from OGHPL. It was also supposed to acquire a 39.2% stake in Malaysia-incorporated Luen Heng F& B Sdn. Bhd for a consideration of $19.3 million from OIPL.
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Ascent Bridge says proposed acquisitions not going through
Ascent Bridge, formerly known as AEI Corp, says its proposed acquisitions with Octopus Global Holdings Pte. Ltd. (OGHPL) and Octopus Investment Pte. Ltd. (OIPL) are not going through.
OGHPL and OIPL are mainly in the business of the distribution of alcoholic and non-alcoholic drinks and liquor in Singapore and Malaysia.
This is because the conditions stipulated in the agreements entered into were not fulfilled or waived as at the long-stop date of Dec 21. The agreements have &ldquo therefore lapsed&rdquo and the company will be retrieving its refundable deposit of $5 million.
On April 22, Ascent Bridge entered into share purchase agreements (SPAs) with OGHPL and OIPL. Under the SPAs, Ascent Bridge was supposed to acquire 80% of the shares in Octopus Distribution Networks Pte. Ltd. and Cape Exim Pte. Ltd. for $57.8 million from OGHPL. It was also supposed to acquire a 39.2% stake in Malaysia-incorporated Luen Heng F& B Sdn. Bhd for a consideration of $19.3 million from OIPL.
