General Announcement for PLC

06/11/2020

OTHERS ADVANCE SYNERGY BERHAD ("ASB") PROPOSED DISPOSAL OF A HOTEL PROPERTY KNOWN AS CITY VILLA KUALA LUMPUR LOCATED AT NO. 69, JALAN HAJI HUSSEIN, OFF JALAN TUANKU ABDUL RAHMAN, 50300 KUALA LUMPUR BY MAYOR HOTELS SDN BHD ("MHSB" OR "Vendor"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF ASB [HELD VIA ALANGKA-SUKA HOTELS & RESORTS SDN BHD ("ASHR"), A WHOLLY-OWNED SUBSIDIARY OF ASB]

ADVANCE SYNERGY BERHAD

Type Announcement
Subject OTHERS
Description 
ADVANCE SYNERGY BERHAD ("ASB")
PROPOSED DISPOSAL OF A HOTEL PROPERTY KNOWN AS CITY VILLA KUALA LUMPUR LOCATED AT NO. 69, JALAN HAJI HUSSEIN, OFF JALAN TUANKU ABDUL RAHMAN, 50300 KUALA LUMPUR BY MAYOR HOTELS SDN BHD ("MHSB" OR "Vendor"), AN INDIRECT WHOLLY-OWNED SUBSIDIARY OF ASB [HELD VIA ALANGKA-SUKA HOTELS & RESORTS SDN BHD ("ASHR"), A WHOLLY-OWNED SUBSIDIARY OF ASB]

The Board of Directors of ASB (“Board”) wishes to announce that MHSB has on 6 November 2020 entered into a sale and purchase agreement (“SPA”) for M1 Plaza Sdn Bhd [Company No.: 202001025905 (1382225-K)] (“Purchaser”) to purchase from MHSB the hotel property known as City Villa Kuala Lumpur (“City Villa” or “Hotel”) as more particularly described in 2.1 hereinbelow, on “as is where is” basis for a total cash consideration of RM24,000,000 (“Purchase Price”) subject to the terms and conditions as stipulated in the SPA (“Proposed Disposal”).

 

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

 

This announcement is dated 6 November 2020.


Please refer attachment below.

Attachments

ASB Announcement 06 11 2020.pdf
606.3 kB


Announcement Info

Company Name ADVANCE SYNERGY BERHAD
Stock Name ASB
Date Announced 06 Nov 2020
Category General Announcement for PLC
Reference Number GA1-06112020-00045


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