We refer to our announcement dated 10 February 2017 in relation to, inter alia, a Subscription and Shareholders’ Agreement (“SSA”) dated 10 February 2017 made between Sunway City Sdn Bhd (“SunCity”), a wholly-owned subsidiary of Sunway, Low Peng Kiat (“LPK”), CRSC Property Sdn Bhd (“CRSC”) and Austral Meridian Property Sdn Bhd (“AMP”) with intention of establishing a joint venture via AMP to jointly undertake an integrated development project on the parcels of leasehold land owned by AMP held under H.S.(D) 119806, PT 486 and H.S.(D) 119793, PT 487, Seksyen 90 in Bandar Kuala Lumpur, Daerah Kuala Lumpur, State of Wilayah Persekutuan Kuala Lumpur measuring in aggregate approximately 31,630 square metres in area, together with a portion of land measuring approximately 0.63 acres which is to be alienated or transferred by the Government of Malaysia to AMP. The SSA also regulates the commitments of SunCity, LPK and CRSC with regards to the subscription of shares in AMP as well as their rights and responsibilities as shareholders of AMP.

Pursuant to the SSA, SunCity has on 24 February 2017 subscribed for 500,001 ordinary shares in AMP for a total consideration of RM500,001. Consequently, the SSA was completed on 24 February 2017 and AMP has become a subsidiary of SunCity on even date.

This announcement is dated 27 February 2017.