BURSA ANNOUNCEMENTS

Date : 24 May 2017

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
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

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):

Vendors Details of the lands Purchase consideration
Sunway Dimension Stones Sdn Bhd (now known as Sunway Serene 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 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.

 






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 24 May 2017
Category General Announcement for PLC
Reference Number GA1-24052017-00083


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