Bursa Announcements

Date : 29 June 2016

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SUNWAY BERHAD ("SUNWAY") 1) SALE AND PURCHASE AGREEMENTS BETWEEN EKUITI MERANTI (M) SDN BHD (NOW KNOWN AS SUNWAY SUBANG SDN BHD) WITH SUNWAY DIMENSION STONES SDN BHD, VIEW2PICK SDN BHD AND CHEN YEW PLASTICS SDN BHD 2) SHAREHOLDERS' AGREEMENT BETWEEN SUNWAY CITY SDN BHD AND VIEW2PICK SDN BHD

SUNWAY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description 
SUNWAY BERHAD ("SUNWAY")
1) SALE AND PURCHASE AGREEMENTS BETWEEN EKUITI MERANTI (M) SDN BHD (NOW KNOWN AS SUNWAY SUBANG SDN BHD) WITH SUNWAY DIMENSION STONES SDN BHD, VIEW2PICK SDN BHD AND CHEN YEW PLASTICS SDN BHD
2) SHAREHOLDERS' AGREEMENT BETWEEN SUNWAY CITY SDN BHD AND VIEW2PICK SDN BHD

We refer to our announcement dated 19 February 2016 in relation to the following agreements executed by the undermentioned subsidiaries of Sunway on 19 February 2016:

(a) Three (3) Sale and Purchase Agreements between Ekuiti Meranti (M) Sdn Bhd (now known as Sunway Subang Sdn Bhd) (“JVCo”), a wholly-owned subsidiary of Sunway City Sdn Bhd (“SCSB”) which in turn is a wholly-owned subsidiary of Sunway, and the following parties for the acquisition of the undermentioned parcels of leasehold land (60 years tenure) free from encumbrances for a total purchase consideration of RM32,725,000/- (excluding Goods and Services Tax):

Vendors

Details of the lands

Purchase consideration

 

Sunway Dimension Stones Sdn Bhd

Hakmilik H.S.(D) 182796, PT 7 in Pekan Subang, Daerah Petaling, Negeri Selangor measuring approximately 8,523 square metres (“PT 7”)

RM12,500,000

View2pick Sdn Bhd (“V2P”)

Hakmilik H.S.(D) 113417, PT 8 in Pekan Subang, Daerah Petaling, Negeri Selangor measuring approximately 0.9105 hectares (“PT 8”)

RM9,000,000

Chen Yew Plastics Sdn Bhd

Hakmilik H.S.(M) 6476, PT 2049 in Mukim Sungai Buluh, Daerah Petaling, Negeri Selangor measuring approximately 2 acres together with buildings erected thereon (“PT 2049”)

RM11,225,000

PT 7, PT 8 and PT 2049 shall collectively be referred to as “the Lands”.

 

(b) A Shareholders Agreement between SCSB and V2P for the purpose of establishing a joint venture via the JVCo to develop industrial properties on the Lands as well as to regulate the relationship between SCSB and V2P with respect to the joint venture.

 

The Board of Directors of Sunway is pleased to announce that the Sale and Purchase Agreement for the acquisition of PT 2049 was completed on 29 June 2016.

 

This announcement is dated 29 June 2016.



Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 29 Jun 2016
Category General Announcement for PLC
Reference Number GA1-20062016-00041


Back