News
Advance Synergy Berhad ("ASB") Acceptance Of A Transferable Term Loan Facility Of Up To RM120.0 Million Arranged By Affin Bank Berhad ("Affin Bank") For Alangka-Suka Hotels & Resorts Berhad ("ASHRB"), A 99.63%-Owned Subsidiary Of ASB
BackApr 25, 2005
| General Announcement Reference No AS-050425-63120 |
| Company Name | : | ADVANCE SYNERGY BERHAD |
| Stock Name | : | ASB |
| Date Announced | : | 25/04/2005 |
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| Type | : | Announcement |
| Subject | : | ADVANCE SYNERGY BERHAD ("ASB") Acceptance of a Transferable Term Loan Facility of up to RM120.0 million arranged by Affin Bank Berhad ("Affin Bank") for Alangka-Suka Hotels & Resorts Berhad ("ASHRB"), a 99.63%-owned subsidiary of ASB |
Contents :
We wish to inform the Exchange that ASHRB, a 99.63%-owned subsidiary of ASB had on 25 April 2005 accepted a Transferable Term Loan Facility of up to RM120.0 million (the "Facility") arranged by Affin Bank for the following purposes:-
i. To part finance the redemption/repurchase of the outstanding redeemable loan stocks and convertible loan stocks issued by ASB; and
ii. To refinance ASHRB's existing term loan of RM11.5 million.
The Facility is granted for a period of eight (8) years from the drawdown date at an interest rate of 1.85% per annum over the Base Lending Rate of each respective Lender. The Facility shall be secured by inter alia the local hotel properties of ASHRB comprising Holiday Villa Alor Setar, Holiday Villa Cherating, Holiday Villa Langkawi as well as City Villa Kuala Lumpur and a corporate guarantee from ASB.
The Board, after careful deliberation, is of the opinion that the acceptance of the Facility is fair and reasonable to ASB and is not to the detriment of ASB and its stockholders.
[This announcement is dated 25 April 2005]