News

Advance Synergy Berhad (ASB Or The Company) - Acquisition By Worldwide Matrix Sdn Bhd, A Wholly-Owned Subsidiary Of Advance Synergy Berhad, Of A 70% Equity Interest In Unified Communications Sdn Bhd Comprising 700,140 Ordinary Shares Of RM1.00 Each For A Total Cash Consideration Of RM54,000,000 From Wong Tze Leng; And - Acquisition By Worldwide Matrix Sdn Bhd, A Wholly-Owned Subsidiary Of Advance Synergy Berhad, Of A 70% Equity Interest In Unified Communications Pte Ltd Comprising 700,000 Ordinary Shares of SGD1.00 Each For A Total Cash Consideration Of RM45,000,000 From Wong Tze Leng (Acquisitions)

Type	:	Announcement
Subject	:	ADVANCE SYNERGY BERHAD (ASB or the Company) - Acquisition by Worldwide Matrix Sdn Bhd, a wholly-owned subsidiary of Advance Synergy Berhad, of a 70% equity interest in Unified Communications Sdn Bhd comprising 700,140 ordinary shares of RM1.00 each for a total cash consideration of RM54,000,000 from Wong Tze Leng; and - Acquisition by Worldwide Matrix Sdn Bhd, a wholly-owned subsidiary of Advance Synergy Berhad, of a 70% equity interest in Unified Communications Pte Ltd comprising 700,000 ordinary shares of SGD1.00 each for a total cash consideration of RM45,000,000 from Wong Tze Leng (Acquisitions)

Contents :

Southern Investment Bank Berhad (SIBB) had on 12 June 2002 announced that the stockholders of ASB had approved the Acquisitions during an Extraordinary General Meeting held on 12 June 2002. In this regard, on behalf of the Board of Directors of ASB, SIBB wishes to announce that Worldwide Matrix Sdn Bhd (WMSB), a wholly-owned subsidiary of ASB, had on 29 August 2002 entered into a Third Supplemental Agreement with Wong Tze Leng (Vendor) to vary the quantum, time of making the second payment and the manner of completion in respect of the Acquisitions and its corresponding changes, as set out below:


Note:
* This payment has been made upon execution of the aforesaid Third Supplemental Agreement.

Save for the above and the consequential changes made in respect of the earlier agreement dated 26 May 2001 and the first Supplemental Agreement dated 22 March 2002, all other terms of the aforesaid agreements and the letter dated 17 May 2002 issued by WMSB to the Vendor remain unchanged.

This announcement is dated 29 August 2002.