Aussino

Aussino : halted since 8.30am this morning. No clues as to the content of the pending announcement. Recent updates by the co continue to focus on progress of the RTO of the petrol kiosk business in Myanmar. In early Jul, Aussino hired PrimePartners as its financial advisor in the transaction, and said it is working towards a definite legally-binding sale and purchase agreement before 14 Aug '12. Recall, some wks back, the media pointed out that Aussino faces potential hurdles in this acquisition, as it involves Myanmar businessman Zaw Zaw, who is on a US blacklist. Last wk, substantial sh/h Ong Ah Whatt pared down his stake from 11.9% to 4.6% in the open market.