We refer to our announcements dated 24 October 2013, 28 October 2013 and 18 April 2014 in relation to the following agreements:

(a)   Subscription and Shareholders’ Agreement (“SSA") entered between Sunway South Quay Sdn Bhd (“SSQ”), a subsidiary of Sunway, SEA Investment Four Pte Ltd (“SEAI4”), a wholly-owned subsidiary of Mitsui Fudosan (Asia) Pte Ltd and Prosper Revenue Sdn Bhd (“PRSB”) for the purpose of regulating the relationship of SSQ and SEAI4 as the shareholders of PRSB in the conduct of the business and affairs of PRSB in relation to the subscription of new shares and the proposed development and construction of 2 blocks of condominiums comprising an aggregate of 472 units known as Sunway Geo Residences Development and the sale of these units (“Proposed Joint Venture”) on the land in Sunway South Quay held under H.S.(D) 293750 PT 1348, Bandar Sunway, Daerah Petaling, Negeri Selangor ("Land") (previously held under the following titles:-

(i)    Land held under PN81533 Lot No. 62640, Bandar Sunway, Daerah Petaling, Negeri Selangor; and

(ii)   Land held under H.S(D) 222682 PT No. 885, Bandar Sunway, Daerah Petaling, Negeri Selangor).

 (b)  Sale and Purchase Agreement between SSQ, Sunway Lagoon Sdn Bhd, SSQ’s holding company and PRSB whereby PRSB agrees to acquire the Land and SSQ as the beneficial owner agrees to sell the Land free from all encumbrances and with vacant possession but subject to the express and implied conditions and restrictions in interest endorsed in the issue documents of title to the Land and subject to the issuance of a new single title to the Land pursuant to the surrender and re-alienation of the abovementioned titles, for a total consideration of RM59,241,600/-.

The Board of Directors of Sunway is pleased to announce that the Proposed Joint Venture has been completed on 21 April 2014.

This announcement is dated 21 April 2014.