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The Board of Directors of ASB wishes to announce that the Company has on 9 November 2010 disposed of its entire shareholding of 102,000 shares representing 51% equity interest in P.T. Asbindo Infocitra (“PT Asbindo”) to Mr Jay Abdullah Alatas for a cash consideration of RM1.00 only (“Disposal”). PT Asbindo is presently an inactive company and has no assets of significant value totaling USD1,000 or more. The consideration was arrived at on a willing buyer willing seller basis. Consequently, PT Asbindo ceased to be a subsidiary of the Company.
The Disposal will not have any material effect on the earnings or net assets of the Company for the financial year ending 31 December 2010.
None of the Directors or major shareholders of the Company or persons connected to them has any interest, direct or indirect, in the Disposal.
This announcement is dated 10 November 2010. |
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