ASA faces Zico Capital bid for SGD 42,000 security for costs in High Court claim

• ASA faces a High Court claim against Zico Capital tied to a statutory demand for alleged unpaid fees under engagement agreements.
• Zico Capital filed a security-for-costs application on Sept. 11, seeking SGD 42,000 within 14 days if ordered.
• ASA has 14 days to file an affidavit to contest the application; it also sought further arguments on an injunction application.
• The board maintained the group remains a going concern, citing planned liquidity actions, restructuring, and creditor negotiations.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ASA - Advanced Systems Automation Limited published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: A0ZY2XTLKRK29IWQ) on September 16, 2026, and is solely responsible for the information contained therein.