News

Advance Synergy Berhad ("ASB" Or "The Company") - Unusual Market Activity

BackJun 15, 2001
General Announcement
Reference No CU-010615-56095
Submitting Merchant Bank : Not Applicable
Company Name : ADVANCE SYNERGY BERHAD 
Stock Name : ASB
Date Announced : 15/06/2001

Type : Reply to query
Reply to Query Letter by KLSE reference ID : ME-010614-66790
Subject : ADVANCE SYNERGY BERHAD ("ASB" OR "THE COMPANY")
- Unusual Market Activity

Contents :

We refer to the Exchange's letter dated 14 June 2001 on the above matter. After due enquiry, we wish to advise the Exchange of the following :-

1) There is no material development in the Company's business and affairs not previously disclosed.

2) There is no impending change in the major stockholders of the Company.
 
3) The Company is not aware of any other reasons to account for the unusual market action. However, in our announcement dated 26 May 2001 in relation to the proposed acquisitions of 70% equity interest in Unified Communications Sdn Bhd and Unified Communications Pte Ltd respectively by Worldwide Matrix Sdn Bhd, a wholly owned subsidiary of the Company ("Proposed Acquisitions"), we have indicated that the purchase consideration for the Proposed Acquisitions will be financed by funds to be generated via proposed disposal of ASB's assets which are yet to be identified.

In this respect, the Company is presently evaluating various business proposals but no decision has yet been reached and the Company will make the necessary announcement at the appropriate time.
Save for the above, the Company confirms that none of the situations/events as listed in the Exchange's letter contributed to the unusual market activities in the Company's stock units during the period in question.


(This announcement is dated 15 June 2001)







Query Letter content :