We refer to our announcement dated 1 August 2017 in relation to the execution of the agreement (“Agreement”) by Sunway Supply Chain Enterprise Sdn Bhd (“SSCE”), a subsidiary of Sunway with Premier Place Property Sdn Bhd (Company No. 1074765-V) (“PPP”), a wholly-owned subsidiary of JAKS Resources Berhad (Company No. 585648-T) whereby PPP and SSCE or its related corporation agree to execute a sale and purchase agreement (“SPA”) within 21 days from the date of the Agreement or such extended time period as the parties shall mutually agree in writing to acquire the following 4 parcels of freehold land totaling 5.988 hectares or 644,575.24 square feet for a total purchase consideration of RM167,589,760/- (excluding Goods and Services Tax) (“Proposed Land Acquisition”):

(i) Geran Mukim 85 Lot 526, Tempat Sungei Penaga, Mukim Damansara, Daerah Petaling, Negeri Selangor measuring approximately 1.214 hectares or 130,673.87 square feet;

(ii) Geran Mukim 84 Lot 527, Tempat Sungei Penaga, Mukim Damansara, Daerah Petaling, Negeri Selangor measuring approximately 1.214 hectares or 130,673.87 square feet;

(iii) Geran Mukim 83 Lot 528, Tempat Sungei Penaga, Mukim Damansara, Daerah Petaling, Negeri Selangor measuring approximately 1.214 hectares or 130,673.87 square feet; and

(iv) Geran Mukim 319 Lot 62506 Tempat Sungei Penaga, Pekan Subang Jaya, Daerah Petaling, Negeri Selangor measuring approximately 2.346 hectares or 252,553.63 square feet. 

The Board of Directors of Sunway is pleased to announce that SSCE had on 17 August 2017, signed the SPA for the Proposed Land Acquisition.

This announcement is dated 17 August 2017.