News
Year 2000 ("Y2K") Disclosure By Public Listed Companies
BackSep 29, 1999
| General Announcement Reference No CU-990929-43449 |
| Submitting Merchant Bank | : | Not Applicable |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 29/09/1999 |
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| Type | : | Announcement |
| Subject | : | YEAR 2000 ("Y2K") DISCLOSURE BY PUBLIC LISTED COMPANIES |
Contents :
We refer to the above and our announcement to the Kuala Lumpur Stock Exchange on 27 August 1999 in respect of the status of Y2K readiness of our remaining operating subsidiaries under the Synergy Card & Payment Services Sdn Bhd ("SCPS") Group of Companies which are yet to be Y2K ready.
SCPS Group will complete their internal testings on their Y2K compliant Card Processing Software supplied by the vendor by end of September 1999 and the final testing with their MasterCard licensor can only be conducted after 30 September 1999.
In view of the above re-scheduled arrangements to carry out their remaining testings for Y2K readiness of their card system, SCPS Group is now targeting to be Y2K ready by 30 October 1999 instead of 30 September 1999.
All time critical hardware components that support SCPS Group card processing processes are Y2K ready and SCPS Group has purchased another vendor certified Y2K ready card system for contingency in the event the current card system is disrupted or fails. SCPS Group has also developed a contingency manual procedure for handling card transactions in the event the contingent card system also fails.