News
Advance Synergy Berhad ("ASB") - Proposed Disposal Of 50.1% Equity Interest In Perdana Merchant Bankers Berhad ("PMBB") To Southern Bank Berhad ("SBB") For Cash By United Merchant Group Berhad ("UMG"), A 50.75% Owned Subsidiary Of ASB ("Proposed Disposal Of PMBB")
BackJan 17, 2001
| General Announcement Reference No CU-010116-38823 |
| Submitting Merchant Bank | : | Not Applicable |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 17/01/2001 |
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| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD ("ASB") - PROPOSED DISPOSAL OF 50.1% EQUITY INTEREST IN PERDANA MERCHANT BANKERS BERHAD ("PMBB") TO SOUTHERN BANK BERHAD ("SBB") FOR CASH BY UNITED MERCHANT GROUP BERHAD ("UMG"), A 50.75% OWNED SUBSIDIARY OF ASB ("PROPOSED DISPOSAL OF PMBB") |
Contents :
Further to our announcement made on 19 December 2000 in respect of the completion of the Proposed Disposal of PMBB on 18 December 2000, the Board of Directors of ASB is pleased to announce that the actual consideration for the Proposed Disposal of PMBB was agreed on 15 January 2001 at RM24,798,748.50.
With the completion of the Proposed Disposal of PMBB, UMG has reduced its investment in PMBB from 70.1% to 20.0%.
UMG has now completed the announced divestments of its investments in Ban Hin Lee Bank Berhad, United Merchant Finance Berhad, Perdana Finance Berhad and PMBB to SBB pursuant to the merger programme initiated by Bank Negara Malaysia. In view of the divestments, the Kuala Lumpur Stock Exchange has granted UMG a period of six (6) months from 18 December 2000 for UMG to seek new businesses/assets and for non-suspension of UMG's listing status on the Main Board of the Kuala Lumpur Stock Exchange.
( This announcement is dated 17 January 2001. )