BURSA ANNOUNCEMENTS

Date : 08 December 2017

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SUNWAY BERHAD ("SUNWAY") - SALE AND PURCHASE AGREEMENT BETWEEN ISKANDAR ASSETS SDN BHD AND HARMONY IMPULSE SDN BHD (NOW KNOWN AS SUNWAY ISKANDAR DEVELOPMENT SDN BHD) DATED 4 DECEMBER 2012 ("SPA")

SUNWAY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
SUNWAY BERHAD ("SUNWAY")
 - SALE AND PURCHASE AGREEMENT BETWEEN ISKANDAR ASSETS SDN BHD AND HARMONY IMPULSE SDN BHD (NOW KNOWN AS SUNWAY ISKANDAR DEVELOPMENT SDN BHD) DATED 4 DECEMBER 2012 ("SPA")

(Unless stated otherwise, all expressions used in this announcement shall carry the same meanings as defined in the announcement dated 4 December 2012.)

We refer to our announcement dated 4 December 2012 in relation to, inter alia, a Sale and Purchase Agreement made between Sunway Iskandar Development Sdn Bhd (“SIDSB”) and Iskandar Assets Sdn Bhd (“IASB”) dated 4 December 2012 (as amended by the Supplemental Sale and Purchase Agreement dated 6 December 2013) for the acquisition of the land held under HSD 452850, PTD 75802, Mukim of Pulai, District of Johor Bahru, measuring approximately 412.75 acres (“Pendas North Land”) on an “as is where is” basis and free from encumbrances but otherwise subject only to the express or implied conditions of the land title and restrictions-in interest endorsed on the land title or otherwise affecting the Land from IASB for a total purchase consideration of up to RM221,280,444/-.

SIDSB has made the balance payment of the Pendas North Land on 30 November 2017 and vacant possession of the Pendas North Land was delivered by IASB to SIDSB on 7 December 2017.

The Board of Directors of Sunway is pleased to announce that the acquisition of the Pendas North Land was completed in accordance with the terms and conditions of the SPA. 

This announcement is dated 8 December 2017.






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 08 Dec 2017
Category General Announcement for PLC
Reference Number GA1-08122017-00114


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