News
Material Litigation
BackOct 02, 2012
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | ADVANCE SYNERGY BERHAD (“Company”) Legal Proceedings between Advance Synergy Capital Sdn Bhd (“ASCAP”), a wholly-owned subsidiary of the Company, and ACE INA INTERNATIONAL HOLDINGS LTD (“ACE INA”) with regard to ASCAP’s 49% equity interest in ACE SYNERGY INSURANCE BERHAD |
Regarding the appeal by ASCAP to the Court of Appeal of Malaysia against the order of the High Court dated 21 April 2011 refusing leave to judicial review against the Minister of Finance’s approval in respect of the above captioned legal proceedings vide Civil Appeal No. W-01-283-2011 (“the Appeal”), we wish to announce the withdrawal of the Appeal with no order as to costs. The Notice of Withdrawal dated 20 September 2012 was filed with the Registry of the Court of Appeal of Malaysia on 27 September 2012 effectively bringing the Appeal to an end. This announcement is dated 2 October 2012.
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Announcement Info
| Company Name | ADVANCE SYNERGY BERHAD |
| Stock Name | ASB |
| Date Announced | 2 Oct 2012 |
| Category | General Announcement |
| Reference No | AS-121002-62555 |