Announcement Details/Table Section :
The Board of Directors of ASB wishes to announce that Alangka-Suka Hotels & Resorts Sdn Bhd (“ASHR”), a wholly-owned subsidiary of ASB, has acquired additional 30% equity interest in Suntop Corporation Sdn Bhd (“Suntop”) comprising 61,500 ordinary shares of RM1.00 each from Mr Ahmad Kamal Bin Ali Merican and Mr Razali Bin Masri (“Acquisition”). Consequential to the increase in ASHR’s equity interest in Suntop from 40% to 70% after the Acquisition, Suntop became a subsidiary of ASB. Suntop is presently an investment holding company.
The Acquisition is not expected to have any material impact on the earnings per share and net assets per share of ASB Group for the financial year ending 31 December 2011.
None of the directors, major shareholders and/or persons connected with the directors and major shareholders of ASB has any interest, direct or indirect, in the Acquisition.
This announcement is dated 17 March 2011
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