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We refer to our announcement on 11 November 2010 and the update provided in our quarterly financial results announcement on 24 November 2010 concerning the above subject matter.
We wish to inform the Exchange that the hearing on 1 December 2010 for the Application for Leave for Judicial Review by ASCAP has been adjourned due to an application filed by the Solicitors for ACE INA International Holdings Ltd (“ACE INA”) to intervene and for the Attorney General to look further into the matter. As to ASCAP’s Application for a stay, ASCAP’s counsel was directed to file a formal application to stay the approval of the Minister of Finance for the proposed disposal by ASCAP of its 49% equity interest in ACE Synergy Insurance Berhad to ACE INA. The Judge has fixed 27 January 2011 to hear the Intervention application of ACE INA and ASCAP’s Leave Application for Judicial Review.
This announcement is dated 2 December 2010. |
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