News
Advance Synergy Berhad ("ASB") - Year 2000 ("Y2K") Disclosure
BackJul 12, 1999
| General Announcement Reference No CU-990712-51120 |
| Submitting Merchant Bank | : | Not Applicable |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 12/07/1999 |
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| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD ("ASB") - YEAR 2000 ("Y2K") DISCLOSURE |
Contents :
Reference is made to our announcements to the Kuala Lumpur Stock Exchange in respect of the above matter on 30 June 1998, 17 September 1998 and on 11 May 1999, and our report on the Y2K issue in our 1998 Annual Report.
Please be informed that our operating subsidiaries under the United Merchant Group Berhad ("UMG") Group of Companies have completed their assessment on the impact of the Year 2000 issue and have taken the necessary steps to make their business processes and computer systems function properly prior to and after the year 2000 i.e. Y2K ready. As required by Bank Negara Malaysia, an independent assessment on the Y2K preparations will be conducted by an independent consultant. The UMG Group has also drawn up and is constantly enhancing the business resumption plans to cater for any unforeseen disruptions to the business operations during the year 2000.
Our operating subsidiaries under the Synergy Card & Payment Services Sdn Bhd ("SCPS") Group of Companies have completed their assessment on the impact of the Year 2000 issue and are in the midst of completing all necessary steps to ensure that their business processes and computer systems are Y2K ready. SCPS Group is working closely with their card system vendors to ensure that their card systems will be Y2K ready before 30 September 1999.
The remaining operating subsidiaries of ASB Group have completed their assessment on the impact of the Year 2000 issue and have taken the necessary steps to ensure smooth operational transitions into and beyond the Year 2000.