News

Material Litigation

BackMar 02, 2011
Date Announced : 02/03/2011  



Type : Announcement
Subject :
MATERIAL LITIGATION

Description :
Advance Synergy Berhad (“Company”)
Legal Proceedings between Advance Synergy Capital Sdn Bhd (“ASCAP”), a wholly owned subsidiary of the Company and ACE INA INTERNATIONAL HOLDINGS LTD (“ACE INA”) with regard to ASCAP’s 49% equity interest in ACE SYNERGY INSURANCE BERHAD
   
 

Announcement Details/Table Section :

 

 

We refer to our announcement on 31 January 2011 concerning ASCAP’s application for Leave in the Application for Judicial Review and ASCAP’s 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 (“ASCAP’s Applications”) and our announcement on 1 March 2011 concerning the committal proceedings that have been commenced by ACE INA against ASCAP, the Company and the directors of ASCAP and the Company (“ACE INA’s Application”).

We wish to inform the Exchange on the following:-

(a)   The hearing of ASCAP’s Applications has been postponed to 8 April 2011.

(b)   The hearing of ACE INA’s Applications has been postponed to 18 April 2011.

 

 

This announcement is dated 2 March 2011.