Floating Button
Home News Management & Corporate Governance

Allied Tech's $130 mil purchase of dorm operator aborted amid news of missing funds

PC Lee
PC Lee • 2 min read
Allied Tech's $130 mil purchase of dorm operator aborted amid news of missing funds
SINGAPORE (May 23): Precision engineering firm Allied Technologies will not go ahead with the acquisition of dormitory operator Aik Chuan Construction (ACC) and its subsidiaries.
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 23): Precision engineering firm Allied Technologies will not go ahead with the acquisition of dormitory operator Aik Chuan Construction (ACC) and its subsidiaries.

The termination of the deal follows news that some $33 million, believed to belong to Allied Tech, had gone missing from the clients’ account of boutique law firm JLC Advisors.

A senior lawyer at JLC Advisors had also gone missing, according to The Business Times on Thursday.

×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2026 The Edge Publishing Pte Ltd. All rights reserved.