Bursa Announcements
OTHERS 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 (NOW KNOWN AS SUNWAY SERENE 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 | OTHERS |
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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 (NOW KNOWN AS SUNWAY SERENE SDN BHD), VIEW2PICK SDN BHD AND CHEN YEW PLASTICS SDN BHD 2) SHAREHOLDERS AGREEMENT BETWEEN SUNWAY CITY SDN BHD AND VIEW2PICK SDN BHD |
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We refer to our announcements dated 19 February 2016 and 29 June 2016 in relation to the following agreements executed by the undermentioned subsidiaries of the Company 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):
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 Shareholders Agreement between SCSB and V2P was completed on 24 May 2017 upon fulfillment of all conditions precedent, whether by way of waiver or otherwise, under the Shareholders Agreement dated 19 February 2016. This announcement is dated 24 May 2017.
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Announcement Info
Company Name | SUNWAY BERHAD |
Stock Name | SUNWAY |
Date Announced | 24 May 2017 |
Category | General Announcement for PLC |
Reference Number | GA1-24052017-00083 |