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Kimly backs out of Asian Story purchase; confirms CAD, MAS probe was over the acquisition

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SINGAPORE - Singapore-listed coffee shop operator Kimly Limited is backing out on its $16 million acquisition of drinks manufacturer Asian Story Corporation (ASC) - a deal authorities have asked about as part of an investigation. At the same time, it requested for trading of its shares to resume. Its stock was voluntarily suspended since Tuesday (Nov 27).

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