Attilan hoping for a Hi-5 from new deal may get a slap down instead

IT'S crunch time for Attilan Group, and the company appears to be clutching at straws.

Barely a month after the Singapore Exchange told the troubled group that its time on the bourse was up after the firm busted a deadline to meet certain metrics, it plonked a "very substantial acquisition" on the table in yet another bid for a ticket out of SGX's watch-list.

This S$100 million deal to acquire Tremendous Entertainment Group (TEG) under a non-binding memorandum of understanding will involve a reverse takeover which would eventually need shareholders' nod.