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ASTI enters term sheet to divest units to China-based firm

Group says the move will strengthen its balance sheet and enable it to explore other opportunities

Nisha Ramchandani

Published Tue, Sep 19, 2017 · 09:50 PM

Singapore

MAINBOARD-LISTED technology group ASTI Holdings has entered into a non-binding term sheet with China Fortune-Tech Capital Co (CFTC) to divest the STI Group, which it said would strengthen its balance sheet and enable it to explore other opportunities.

Negotiations are still ongoing for the sum, which could range from S$105 million to S$115 million, said ASTI in a filing to Singapore Exchange (SGX) on Tuesday. In comparison, ASTI has a current mark…

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