BURSA ANNOUNCEMENTS

Date : 14 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 Winstar Sdn Bhd (formerly known as Winstar Trading Sdn Bhd) (“SWSB”), a 60% owned subsidiary of Sunway Holdings Sdn Bhd, has on 14 August 2017, acquired 400,002 ordinary shares, representing 100% of the total issued and paid-up share capital of Jaya DIY Mart Sdn Bhd (formerly known as Weld Star Sdn Bhd) (“Jaya DIY”) from Sunway Hsing Yeat Sdn Bhd (formerly known as Hsing Yeat Sdn Bhd) (“SHY”) for a total cash consideration of RM450,000/- (“Reorganisation Exercise”). Sunway Holdings Sdn Bhd is wholly owned by Sunway while SHY is 81.16% owned by SWSB.

Jaya DIY was incorporated on 7 December 2004 and its issued and paid-up share capital is RM400,002/- comprising 400,002 ordinary shares. The principal activity of Jaya DIY is operator of a retail Do-It-Yourself (DIY) chain selling hardware and household products.

Upon completion of the Reorganisation Exercise, Jaya DIY has become a wholly-owned subsidiary of SWSB.

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 14 August 2017.






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 14 Aug 2017
Category General Announcement for PLC
Reference Number GA1-14082017-00075


Back