News

UNUSUAL MARKET ACTIVITY

BackMay 27, 2014
Type Reply to query
Reply to Bursa Malaysia's Query Letter - Reference ID CY-140526-61786
Subject UNUSUAL MARKET ACTIVITY
Description ADVANCE SYNERGY BERHAD ("ASB" OR "THE COMPANY")
- UNUSUAL MARKET ACTIVITY
Query Letter Contents We draw your attention to the rise in price and volume of your Company’s
securities recently.

In light of the above and in order for investors to be able to make informed
investment decisions, you are requested to respond, after making due enquiry
with your directors, major shareholders and such other relevant persons, to
the following queries immediately for public release in accordance with
paragraph 9.11 of Listing Requirements :-

1. Whether there is any corporate development relating to your Group’s
business and affairs that has not been previously announced that may account
for the trading activity including those in the stage of
negotiation/discussion. If yes, kindly provide the details including status of
the corporate development to enable investors to make informed investment
decision;
2. Whether there is any rumour or report concerning the business and affairs
of the Group that may account for the trading activity and in this respect, you
are required to comply with Paragraphs 9.09 and 9.10 of Bursa Securities LR;
3. Whether you are aware of any other possible explanation to account for the
trading activity; and
4. Whether you are in compliance with the Bursa Securities LR, in particular
Paragraph 9.03 of the Bursa Securities LR on immediate disclosure obligations.

Please note that the contents of the announcement must be endorsed by the Board
of Directors of the Company and the announcement must reach Bursa Securities
immediately via Bursa LINK.
Yours faithfully




SUZALINA HARUN
Vice President, Issuers
Listing Division
Regulation

/WCY

We refer to the letter from Bursa Malaysia Berhad dated 26 May 2014 querying on the rise in price and volume of ASB’s securities recently.

In accordance with Paragraph 9.11 of Main Market Listing Requirements (“Bursa Securities LR”), the Board of Directors of ASB would like to confirm that to the best of their knowledge after making due enquiry with the Directors and major shareholders and such other relevant persons, the Company is not aware of:-

1.       Any corporate development relating to ASB Group’s business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion;

 

2.       Any rumour or report concerning the business and affairs of ASB Group that may account for the trading activity; and

 

3.       Any other possible explanation to account for the trading activity, save for the following:-

 

a.       The proposed first and final single tier dividend of 0.25 sen per ordinary share of RM0.30 each for the financial year ended 31 December 2013, subject to shareholders’ approval at the forthcoming Annual General Meeting as announced on 28 April 2014.

 

b.       The proposed disposal of the entire shareholding and voting rights in Alangka-Suka Paris, Holiday Villa Lafayette Paris and Legenda De Malaisie as announced on 10 February 2014 and 9 May 2014.

 

In addition, the Group is continuously seeking opportunities, evaluating proposals and executing key strategies to improve performance, expand operations and turnaround its loss making/under-performing subsidiaries. Appropriate announcements will be made if and when any of these business opportunities/proposals are confirmed and finalised.

 

The Board of Directors also confirms that the Company is in compliance with the Bursa Securities LR, in particular Paragraph 9.03 of the Bursa Securities LR on immediate disclosure obligations.

 

This announcement is dated 27 May 2014.

 

Announcement Info

Company Name ADVANCE SYNERGY BERHAD  
Stock Name ASB    
Date Announced 27 May 2014  
Category General Announcement
Reference No AS-140527-36358