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Aspial may spin-off property business in Australia, Malaysia for listing

MAINBOARD-LISTED Aspial Corporation, which operates in the jewellery retail, property development and financial services space, is proposing to spin-off of its property business in Australia and Malaysia, to be listed on the Singapore Exchange's Catalist board.

The proposed spin-off is in its preliminary stages and is dependent on the results of preparatory work, approvals from the relevant regulatory authorities and the then-prevailing market conditions.

The company has appointed Canaccord Genuity Singapore as the sponsor and issue manager for the proposed spin off.