TUAS Limited, the parent company of SIMBA Telecom, has issued a statement on the ASX announcing that it has formally terminated the sales agreement with Keppel for the acquisition of M1 Ltd. The termination follows the expiry of the Long-Stop Date on 21 May 2026, as several conditions precedent were not fulfilled before the deadline.
In the statement, SIMBA also reaffirmed that it continues to operate its business in Singapore as usual. The company is currently holding a sales event at Marina Square, offering attractive promotions for both new and existing customers, including the popular Top-Up $20 for S$20 plan, fibre broadband packages, handset deals, and other offers.
Additionally, SIMBA stated that it continues to cooperate with IMDA in investigations relating to its alleged breach of the Telecommunications Act and the conditions of SIMBA’s Facilities-Based Operator (FBO) licence.
