News

Material Litigation

BackMay 20, 2011
Date Announced
:
 20/05/2011  



Type
:
 Announcement
Subject
:
MATERIAL LITIGATION

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

Announcement Details/Table Section :

We refer to our announcement dated 29 April 2011. Further thereto, we wish to announce that the Court has on 20 May 2011 delivered its decision and issued orders for committal against ASCAP, ASB and their directors. The Court has fixed sentencing for 27 May 2011. Appeals to the Court of Appeal against the said orders of the High Court will be filed.  

This announcement is dated 20 May 2011.