BURSA ANNOUNCEMENTS

Date : 09 August 2017

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 9 August 2017, acquired 2 ordinary shares, representing 100% of the total issued and paid-up share capital of Sunway Supply Chain Enterprise Sdn Bhd (“Sunway Supply Chain”) from Sunway Holdings Sdn Bhd, a wholly-owned subsidiary of the Company, for a total cash consideration of RM2/- (“Reorganisation Exercise”).

Sunway Supply Chain was incorporated on 26 July 1996 and its issued and paid-up share capital is RM2/- comprising 2 ordinary shares. The intended principal activity of Sunway Supply Chain is property development.

Upon completion of the Reorganisation Exercise, Sunway Supply Chain becomes 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 9 August 2017.

 






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 09 Aug 2017
Category General Announcement for PLC
Reference Number GA1-09082017-00007


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