Advance Synergy active, up 6.25% on plan to dispose stake in associate

KUALA LUMPUR (Aug 7): Shares in Advance Synergy Bhd jumped 6.25% in active trade this morning after the company said it is selling its indirect stake in 40%-owned associate Helenium Holdings Ltd, which owns a freehold mixed-use property in Kilburn High Road, London, for £8.73 million (RM46.637 million).

At 9.14am, ASB rose 1 sen to 17 sen with 11.20 million shares traded.

The proposed disposal will enable it to realise cash and have ready capacity for any high potential investment or acquisition. The proposed disposal is expected to result in a gain of RM2.38 million to the group. — theedgemarkets.com

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