Court Dismisses Case Against Asia Capital 📈

The Fort Magistrate’s Court has summarily dismissed a criminal case filed against Asia Capital PLC and several of its former employees, clearing the company of all charges. • Case Overview: The action was initiated by CC Trust Ltd, a Japanese-owned investor based in Singapore, alleging a criminal breach of trust. • Financial Scope: The dispute involved a sum of approximately US$ 6 million linked to a Shareholders’ Agreement dated 1 September 2017. • Court Ruling: The court dismissed the case, concluding that the allegations were baseless. Asia Capital PLC maintained that the matter was a commercial transaction rather than a criminal one. • Impact: The discharge absolves the company’s directors and staff of criminal liability, resolving a significant legal hurdle that had affected the firm's reputation in the investment banking and leisure sectors.