News

We refer to the announcement dated 16 January 2018 in relation to the Proposed Acquisition (“Announcement”). Unless otherwise stated, abbreviations used herein shall have the same meanings as those defined in the Announcement.

The Board of Directors of ASB wishes to announce that the balance purchase price totalling RM52,650,000 for the Proposed Acquisition (“Balance Purchase Price”) has been received in full by the Vendors’ Solicitors as stakeholders and accordingly the Proposed Acquisition has been completed.

The Balance Purchase Price was partly funded by bank facilities granted to ASR for the Proposed Acquisition amounting to RM33.075 million.       

The aforesaid bank facilities are secured by among others, a third party first legal charge over the 3/10 undivided share of Kibar Konsep Sdn Bhd (“KKSB”) in Property 1 and Property 2 respectively. In consideration thereof, ASR issued letters of indemnity in favour of KKSB secured by a deposit sum of RM6.39 million.

The Directors and shareholders of KKSB are Ms Aryati Sasya Dato’ Ahmad Sebi (a Non-Independent Non-Executive Director of ASB) and Mr Anton Syazi Dato’ Ahmad Sebi (the Group Executive Deputy Chairman of ASB). Their father, Dato’ Ahmad Sebi Bakar, is the Group Chairman of ASB.

This announcement is dated 30 November 2018.