Ace Achieve suspends trading, says it's unable to assess financial position

Singapore

ACE Achieve Infocom requested trading of its shares to be voluntarily suspended before market open on Friday, as it was "unable to reasonably assess its financial position and inform the market" - just a day after announcing plans to acquire a 36 per cent stake in a blockchain business for S$1.9 million, and borrow S$500,000 to complete its audit for financial year 2018.

In the exchange filing on Friday, the Beijing-headquartered telecommunications company now says it will make the relevant announcement on its unaudited results for the full year ended April 30, 2018, and request for trading of its shares to resume "in due course".