News

Advance Synergy Berhad ("ASB") Acceptance Of A Term Loan Facility Of Up To RM12.3 Million From Affin Bank Berhad ("Affin Bank") By Alangka-Suka Hotels & Resorts Berhad ("ASHRB"), A 99.63%-Owned Subsidiary Of ASB

BackJun 08, 2004
General Announcement
Reference No AS-040608-62987
Company Name : ADVANCE SYNERGY BERHAD 
Stock Name : ASB
Date Announced : 08/06/2004


Type : Announcement
Subject : ADVANCE SYNERGY BERHAD ("ASB")
Acceptance of a term loan facility of up to RM12.3 million from Affin Bank Berhad ("Affin Bank") by Alangka-Suka Hotels & Resorts Berhad ("ASHRB"), a 99.63%-owned subsidiary of ASB

Contents :

We wish to inform the Exchange that ASHRB, a 99.63%-owned subsidiary of ASB has on 8 June 2004 accepted a term loan facility of up to RM12.3 million (the "Loan") made available by Affin Bank for the purpose of repaying part of the inter-company advances due to ASB. The Loan is granted for a period of up to three (3) years at interest rate of 1.85% per annum over Affin Bank's Base Lending Rate which is currently pegged at 6.00% per annum. The Loan shall be secured by assets presently pledged to Affin Bank under the Group's existing borrowings together with a corporate guarantee from ASB.

The acceptance of the Loan is not expected to have any material effect on the net tangible assets and earnings of the ASB Group for the financial year ending 31 December 2004.

Save as disclosed below, none of the directors, major stockholders and persons connected with them has any interest, direct or indirect, in the said loan facility:-

(i) Dato' Ahmad Sebi Bakar, a Director and major stockholder of ASB, has direct and indirect equity interest of 4.50% and 8.13% respectively in ASB. Dato' Ahmad Sebi Bakar is also a director of ASHRB;

(ii) Datin Masri Khaw Binti Abdullah, a Director and stockholder of ASB, has direct and indirect equity interest of 0.15% and 0.44% respectively in ASB. Datin Masri Khaw Binti Abdullah is also a shareholder of ASHRB holding 0.25% direct equity interest in ASHRB; and

(iii) Mr Sng Ngiap Koon, a Director and stockholder of ASB holding 0.15% indirect equity interest in ASB is also a director of ASHRB.

[This announcement is dated 8 June 2004]