Bursa Announcements

Date : 04 March 2016

OTHERS SUNWAY BERHAD (SUNWAY) - INTERNAL REORGANISATION OF GROUP STRUCTURE

SUNWAY BERHAD

Type Announcement
Subject OTHERS
Description
SUNWAY BERHAD (SUNWAY)
-	INTERNAL REORGANISATION OF GROUP STRUCTURE

We wish to announce that pursuant to Chapter 9, Paragraph 9.19(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Sunway Holdings Sdn Bhd (“SunH”), a wholly-owned subsidiary of the Company has on 4 March 2016, acquired 2 ordinary shares of RM1/- each, representing 100% of the total issued and paid-up share capital of Sunway Ventures Sdn Bhd (formerly known as Sunway Development Sdn Bhd) ("Sunway Ventures”) from Sunway City Sdn Bhd, a wholly-owned subsidiary of the Company, for a total cash consideration of RM2/- (“Reorganisation Exercise”).

Sunway Ventures was incorporated on 8 January 1998 and its authorised and paid-up share capital are RM100,000/- and RM2/- respectively. Sunway Ventures is presently dormant and its intended principal activity is investment holding.

Upon completion of the Reorganisation Exercise, Sunway Ventures has become a direct subsidiary of SunH.

The Reorganisation Exercise is not expected to have any effect on the issued and paid-up capital of Sunway or Sunway’s substantial shareholders’ shareholdings or any material effect on the earnings, net assets or gearing of Sunway on a consolidated basis.

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

 

This announcement is dated 4 March 2016.






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 04 Mar 2016
Category General Announcement for PLC
Reference Number GA1-24022016-00062


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