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ASTI Holdings Receives Third Tranche for First Settlement Payment

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ASTI Holdings (SGX:575) received the third tranche of the first installment of a settlement payment, comprising $403,271 and SG$3,271 in interest from Advanced Systems Automation (SGX:WJ9), according to a Friday filing with the Singapore Exchange.

Shares of the semiconductor company were down nearly 2% in Monday's trading.

With this most recent payment, the company has received the full first installment, including reimbursement of costs and accrued interest.

Earlier in the year, ASTI had reached a full and final settlement with Advanced Systems over a legal dispute linked to loan agreements and management fees, and both parties agreed to settle the case, with ASA paying SG$6 million in installments in full and final settlement of all claims and counterclaims. The first installment of SG$1 million is due on July 1.

The next instalment of SG$1.50 million is due on July 1, 2027, as agreed in the settlement agreement.

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