Bursa Announcements

Date : 27 December 2013

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS SUNWAY BERHAD (“SUNWAY”) - PROPOSED ACQUISITION OF LAND BY SUNWAY CITY (PENANG) SDN BHD, A SUBSIDIARY OF SUNWAY

SUNWAY BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionSUNWAY BERHAD (“SUNWAY”)
- PROPOSED ACQUISITION OF LAND BY SUNWAY CITY (PENANG) SDN BHD, A SUBSIDIARY OF SUNWAY
1. INTRODUCTION
      We refer to our announcement dated 17 December 2013 in relation to the successful bidding by Sunway City (Penang) Sdn Bhd (“SCP”), a wholly-owned subsidiary of Sunway City Sdn Bhd which in turn is wholly-owned by Sunway for the following 4 parcels of freehold land held under the following titles together with the existing buildings, plant nurseries and other structures erected thereon from C. H. Williams Talhar & Wong, the Property Agent of Luxor Precision Sdn Bhd (“LPSB”) for a total purchase consideration of RM267,418,000/- (“Purchase Price”):

      a) Lot No. 1385, Tempat Relau, Mukim 13, Daerah Timor Laut, Pulau Pinang held under Geran Mukim No. 264 measuring approximately 22,586.4816 square metres;
      b) Lot No. 2102, Tempat Paya Terubong, Mukim 13, Daerah Timor Laut, Pulau Pinang held under Geran Mukim No. 256 measuring approximately 17,148.5269 square metres;
      c) Lot No. 3224, Mukim 13, Daerah Timor Laut, Pulau Pinang held under Geran No. 3865 measuring approximately 55,195.5686 square metres; and
      d) Lot No. 7629, Mukim 13, Daerah Timor Laut, Pulau Pinang held under Geran No. 39680 measuring approximately 4,048 square metres.

      (collectively, the “Land”).

      The Board of Directors of Sunway is pleased to announce that SCP has on 27 December 2013, entered into a Sale and Purchase Agreement (“SPA”) with LPSB to acquire the Land.

2. SALIENT TERMS OF THE SPA
      Pursuant to the SPA, SCP has acquired the Land without vacant possession and on an “as is where is” basis including the existence of any right of way or any structures or squatters thereon subject to all conditions of title whether express or implied, affecting the Land but otherwise free from all encumbrances and subject further to any existing tenancies affecting the Land, from LPSB at the Purchase Price.

      The Purchase Price shall be satisfied by SCP in the following manner:-

      a) RM26,741,800/- being 10% deposit of the Purchase Price upon execution of the SPA comprising:-

        i) Tender fee of RM2,674,180/- paid during submission of the tender; and
        ii) Balance deposit of RM24,067,620/-; and
      b) RM240,676,200/- being balance of 90% of the Purchase Price on or before the completion date of the SPA.



3. DOCUMENTS AVAILABLE FOR INSPECTION

The SPA is available for inspection at the registered office of Sunway at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 47500 Subang Jaya, Selangor Darul Ehsan during normal business hours (9.00 a.m. to 6.00 p.m.) from Monday to Friday (except public holidays) for a period of 3 months from the date of this announcement.

This announcement is dated 27 December 2013.


Announcement Info

Company NameSUNWAY BERHAD  
Stock Name SUNWAY    
Date Announced27 Dec 2013  
CategoryGeneral Announcement
Reference NoSS-131227-F4520

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