News

The Board of Directors of ASB (“Board”) wishes to announce that its indirect 65%-owned subsidiary, Posthotel Arosa AG (“Arosa”)(“Seller”), had on 9 July 2020 entered into a purchase right agreement (hereinafter referred to as “Agreement”) with Postresidenz am See AG (“Purchaser”) for the proposed disposal of all that piece of freehold land located at Oberseepromenade, Postfach 289, CH 7050 Arosa, Switzerland (the “Land”) on “as is where is” basis for a cash consideration of CHF5.95 million (equivalent to RM26.768 million) only (“Purchase Price”), subject to the terms and conditions as stipulated in the Agreement (“Proposed Disposal”).

Further details of the Proposed Disposal are set out in the attachment.

This announcement is dated 9 July 2020.