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 3 March 2021 approved the incorporation of the revaluation surplus arising from the valuation exercise conducted on the property as set out in item 3 below (“Property”) held by the Group in the unaudited financial results of ASB Group for the fourth quarter ended 31 December 2020.

2.         PURPOSE

             The valuation was carried out to determine the fair value of the Property for management reporting purposes.

3.         REVALUTION SURPLUS

             The details of the revaluation surplus of the Property are set out below:-

4.         EFFECT OF REVALUATION SURPLUS ON NET ASSETS PER SHARE

             The aforesaid revaluation surplus after deferred tax resulted in an increase in the net assets per share of the Group by 0.15 sen.

5.         DOCUMENT AVAILABLE FOR INSPECTION

             The valuation report of the Property is available for inspection at the registered office of the Company at Ground Floor, Synergy 9, 9 Jalan Kajibumi U1/70, Temasya Glenmarie, 40150 Shah Alam, Selangor, Malaysia 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 3 March 2021.