Based on what I know, it is real - they are in the finalisation stage of a debt funding solution to address the going concern of the auditors, which was the key reason why the merged co ASX listing was not confirmed.
IMO, it is poor handling/communications rather than any conspiracy on cheap TO. It is good that the stock is in trading Halt, gives them another chance to explain clearly the issue and the solution. Listing in both SGX and ASX is in the plan and nothing will change that.
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