News

The Board of Directors of ASB wishes to announce that Cherating Holiday Villa Berhad (Company No. 118734-W)(“CHV” or “Purchaser”), an indirect wholly-owned subsidiary of the Company, had on 8 August 2019 entered into a Sale and Purchase Agreement (“Agreement”) with Amanah Raya Berhad (Company No. 344986-V) )(as Trustee for the Common Fund)(“AmanahRaya” or “Vendor”) to buyback a resort hotel consisting of an administration building, hotel / apartment blocks, standard and individually designed chalets and villas and other ancillary buildings and structures known as Holiday Villa Cherating (“Property”) which are erected on five (5) parcels of freehold lands measuring in aggregate area of approximately 42,634.7875 square metres (collectively referred to as “Property”) for a buyback price of RM22,965,600.00 only (“Buyback Price”) free from all encumbrances and on an ”as is where is” basis (“Proposed Buyback”).

Further details on the Proposed Buyback are set out in the attachment.

This announcement is dated 8 August 2019.