We wish to announce that pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad,  Sunway Holdings Sdn Bhd, a wholly-owned subsidiary of Sunway has on 9 April 2015, entered into a Share Sale and Purchase Agreement (“the Agreement”) with the Vendors for the acquisition of 50,000 ordinary shares of RM1.00 each representing 100% of the equity interest in Pasir Mas Holdings Sdn Bhd ("Pasir Mas") for a total cash consideration of RM1,750,000/- (hereinafter referred to as "the Proposed Acquisition").  

Pasir Mas was incorporated on 10 October 1989 and its authorised and paid-up share capital are both RM50,000/-. Pasir Mas operates a petrol station and a motor vehicle workshop in Bandar Sunway.

Pasir Mas and Chevron Malaysia Limited have entered into an agreement for the sale and purchase of the land where the petrol station is operating as well as an agreement for the sale and purchase of the petrol station equipment, both of which are pending the satisfaction of the conditions precedent and thereafter completion. Sunway believes that Pasir Mas is operating from a strategic location, being opposite Sunway Pyramid Shopping Mall facing the New Pantai Expressway, and the land has re-development potential in future. Meanwhile, the existing businesses comprising mainly the sale of petroleum products and motor vehicle repair services are generating steady recurring income that will mitigate the holding cost of the land.

The Proposed Acquisition is not expected to have any immediate material effect on the earnings per share and net assets per share of Sunway and it has no effect on Sunway's share capital and substantial shareholders' shareholding.

The Proposed Acquisition does not require approval from the shareholders of Sunway.

None of the directors or substantial shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the Proposed Acquisition.

This announcement is dated 9 April 2015.