Serial Achieva terminates JV with ASP after fraud charges

The board will announce further updates on its interest in Achieva Tech Allianz.

Serial Achieva Limited has terminated its joint venture agreement (JVA) with A-Speed Infotech Pte. Ltd. (ASP) following criminal charges against an ASP director.

In a bourse filing, the company cited the recent legal developments involving an ASP director, who has been charged by Singapore authorities with criminal conspiracy to commit fraud against a server supplier on 27 February.

“The board will make further announcements in relation to the termination and all relevant matters concerning the company’s interests in the joint venture company, Achieva Tech Allianz Pte Ltd,” the company said.

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