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 20 March 2018, acquired 2 ordinary shares, representing 100% of the total issued and paid-up share capital of Commercial Parade Sdn Bhd (“Commercial Parade”) from Sunway City (Penang) Sdn Bhd, a subsidiary of the Company, for a total cash consideration of RM2/- (“Reorganisation Exercise”).

Commercial Parade was incorporated on 12 March 1992 and its issued and paid-up share capital is RM2/- comprising 2 ordinary shares. The intended principal activity of Commercial Parade is property development.

Upon completion of the Reorganisation Exercise, Commercial Parade 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 20 March 2018.