Bursa Announcements

Date : 25 November 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 City Sdn Bhd (“SunCity”), a wholly-owned subsidiary of the Company has on 25 November 2016, acquired 100,000 ordinary shares of RM1/- each, representing 100% of the total issued and paid-up share capital of Sunway Integrated Outsourcing Sdn Bhd (“SIO”) from Sunway Holdings Sdn Bhd, a wholly-owned subsidiary of the Company, for a total cash consideration of RM100,000/- (“Reorganisation Exercise”).

SIO was incorporated on 17 December 1996 and its authorised and paid-up share capital are both RM100,000/-. SIO is presently dormant and Its intended principal activity is hotel operations.

Upon completion of the Reorganisation Exercise, SIO has become a direct subsidiary of SunCity.

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 25 November 2016.






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 25 Nov 2016
Category General Announcement for PLC
Reference Number GA1-25112016-00054


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