The Board of Directors of Sunway wishes to announce that Commercial Parade Sdn Bhd, a subsidiary of Sunway, had on 20 June 2016, entered into a sale and purchase agreement with RHB Trustees Berhad as trustee for Sunway Real Estate Investment Trust to dispose of a parcel of vacant land held under Pajakan Negeri 1814, Lot 5493, Mukim 1, Seberang Perai Tengah, Pulau Pinang which is adjacent to Sunway Carnival Shopping Mall situated in Seberang Jaya, Penang for a total consideration of RM17,200,000 to be fully satisfied in cash.

Please refer to the attachment below for further details of the Proposed Disposal.

This annoucement is dated 20 June 2016.