News

Advance Synergy Berhad ("ASB") Acceptance Of Term Loan Facility Of RM38.0 Million From Affin Bank Berhad ("Affin Bank") To Alangka-Suka Hotels & Resorts Berhad ("ASHRB"), A 99.63%-Owned Subsidiary Of ASB

BackFeb 03, 2006
General Announcement
Reference No AS-060203-64219
Company Name : ADVANCE SYNERGY BERHAD
Stock Name : ASB
Date Announced : 03/02/2006


Type : Announcement
Subject : ADVANCE SYNERGY BERHAD ("ASB")
Acceptance of Term Loan Facility of RM38.0 million from Affin Bank Berhad ("Affin Bank") to 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 has accepted a Term Loan Facility of RM38.0 million (the "Facility") from Affin Bank. The Facility will be utilised primarily to repay ASB's borrowings.
 
The Facility is granted for a period of five (5) years from the drawdown date and will be secured by inter alia the properties and quoted securities beneficially owned by ASB and/or its subsidiaries as well as 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 3 February 2006.