News

1.         INTRODUCTION

             Pursuant to Paragraph 9.19(46) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of ASB (“Board”) wishes to announce that the Board had at its meeting held on 26 February 2020 approved the incorporation of the revaluation surplus/deficit arising from the valuation exercise conducted on the properties as set out in item 3 below (“Properties”) held by the Group in the unaudited financial results of ASB Group for the fourth quarter ended 31 December 2019.

2.         PURPOSE

             The valuation was carried out to determine the market value of the Properties for management reporting purposes.

3.         REVALUTION SURPLUS

             The details of the revaluation surplus/(deficit) of the Properties are set out below:-

4.         EFFECT OF REVALUATION SURPLUS/(DEFICIT) ON NET ASSETS PER SHARE

             The aforesaid net revaluation deficit after deferred tax resulted in a reduction in the net assets per share of the Group by 0.42 sen.

5          DOCUMENT AVAILABLE FOR INSPECTION

             The valuation reports of the Properties are available for inspection at the Registered Office of the Company at Level 3, East Wing, Wisma Synergy, No. 72, Pesiaran Jubli Perak, Seksyen 22, 40000 Shah Alam, Selangor Darul Ehsan during normal business hours from Monday to Friday (except for Public Holidays) for a period of three (3) months from the date of this announcement.

This announcement is dated 26 February 2020.