We refer to our announcement dated 8 December 2014 in relation to, inter alia, the execution of the following agreements by the undermentioned subsidiaries of Sunway:-

i) Sale and Purchase Agreement (“SPA”) between Sunway Biz Hotel Sdn Bhd (formerly known as Sunway Hotel (Penang) Sdn Bhd) (“SBH”) and RHB Trustees Berhad  as trustee of  Sunway Real Estate Investment Trust (“Trustee”) where SBH agreed to sell and the Trustee agreed to purchase 2 parcels of freehold land held under GRN 63519 Lot  2220, Seksyen 12, Bandar Georgetown, Daerah Timor Laut, Pulau Pinang and GRN 35332 Lot 1754, Seksyen 12, Bandar Georgetown, Daerah Timor Laut, Negeri Pulau Pinang together with a 16-storey building comprising 250-room hotel erected thereon known as “Sunway Hotel Georgetown” (“Sunway Hotel Georgetown Property”) (“Proposed Disposal”); and

ii) Master Lease Agreement (“MLA”) between SBH, the Trustee and Sunway REIT Management Sdn Bhd, as the Manager of Sunway Real Estate Investment Trust for the lease by SBH of Sunway Hotel Georgetown Property from the Trustee for a period of 10 years commencing from the Commencement Date (as stated below) with an option to renew for a further term of 10 years.

The Board of Directors of Sunway is pleased to announce that the Proposed Disposal has been completed on 28 January 2015 in accordance with the terms and conditions of the SPA and the Commencement Date of the lease under the MLA shall be on 28 January 2015.

This announcement is dated 28 January 2015.