Multistack International Limited (MSI), an ASX-listed company involved in the sale, marketing, and distribution of water-cooled and air-cooled water chillers, has released its quarterly activity report for the period ending December 2025. The report details that during the quarter, the company’s principal activities revolved around the sale of chillers, including two units of water-cooled chillers, as well as spare parts.
However, a significant announcement was made on June 27, 2025, where the board disclosed its decision to discontinue the company’s business in its current form. This decision comes after a review of the ongoing commercial viability of the underlying business, noting consistent losses and the need for substantial capital injection that the directors deem unattainable for the company.
Currently, Multistack International is working towards the disposal of all shares in its subsidiary, Multistack Australia Pty Ltd. The company emphasises that this is subject to mutual agreement, definitive documentation, and shareholder approval, including an independent expert’s report to meet Corporations Act and ASX Listing Rule requirements. Despite this, the company states that its business will continue to be operated prudently as a going concern during this transition.
The company’s cash position at the end of the quarter was reported as $1,108,270. Quarterly operating expenditure amounted to $277,009, which includes $2,107 in trading and operating expenses and $274,902 related to staff, administration, and corporate costs. The company also disclosed that it has previously borrowed $696,000 from ACR Equipment (HK) Ltd under a non-interest bearing unsecured facility.
