SG brief: Asia-Pacific Strategic Investments and MoneySmart

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Asia-Pacific Strategic Investments said Monday its non-binding heads of agreement (HOA) with Catapult Ventures to acquire all of the MoneySmart business — entered into in March — has seen its timeline extended for a second time, now to 31 August.

The company and Catapult Ventures need more time to seek approval from the Monetary Authority of Singapore (MAS) as one of Catapult Ventures’ subsidiaries is a registered insurance broker, according to a filing to SGX.

Asia-Pacific Strategic Investments noted there was no certainty a definitive agreement would be reached, or that a deal would be undertaken.

Read more: Asia-Pacific Strategic to acquire MoneySmart for US$162M in reverse takeover