General Announcement for PLC

07/05/2021

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS PROPOSED DISPOSAL OF MANAGEMENT SERVICES AGREEMENTS, LICENSING AGREEMENTS AND TRADEMARKS OF ALANGKA-SUKA HOTELS & RESORTS SDN. BHD. GROUP

ADVANCE SYNERGY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description 
PROPOSED DISPOSAL OF MANAGEMENT SERVICES AGREEMENTS, LICENSING AGREEMENTS AND TRADEMARKS OF ALANGKA-SUKA HOTELS & RESORTS SDN. BHD. GROUP

1.         INTRODUCTION

 

The Board of Directors of Advance Synergy Berhad (“ASB” or “the Company”) wishes to announce that its below-mentioned subsidiaries have on 7 May 2021 entered into the following agreements with Holiday Villa Hotels & Resorts Sdn Bhd (“HVHR”) and Holiday Villas Hotels & Resorts Limited (“HVHRL”) (collectively, referred to as “Purchasers”) for HVHR and HVHRL to acquire the Contracts (“Contracts”) and Trademarks (“Trademarks”) as detailed under items 2.1 and 2.2 respectively of this announcement for a total cash consideration of RM7.0 million only (“Consideration”) (collectively, referred to as “Proposal”):-

  • Antara Holiday Villas Sdn Bhd (“AHV”), Holiday Villas International Limited (“HVIL”) and Holiday Villa Middle East Limited (“HVME”) have entered into three (3) agreements relating to transfer of each of their respective Contracts and/or Trademarks and Cherating Holiday Villa Berhad (“CHV”) entered into one (1) agreement relating to the transfer of its Trademarks (“ASA”)(collectively, referred to as “Agreements” and respectively, referred to as “Agreement”).

Further details of the Proposal are set out in the ensuing sections.

 

This announcement is dated 7 May 2021. 


Please refer attachment below.

Attachments

ASB Announcement 07 05 2021.pdf
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Announcement Info

Company Name ADVANCE SYNERGY BERHAD
Stock Name ASB
Date Announced 07 May 2021
Category General Announcement for PLC
Reference Number GA1-07052021-00146


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Date Title
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10/08/2022 OTHERS Announcement on the unaudited second quarter financial results by Captii Limited ("Captii"), an indirect 58.3%-owned subsidiary of Advance Synergy Berhad, to the Singapore Exchange Securities Trading Limited ("SGX")
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