The Board of Directors of Sunway wishes to announce that Sunway intends to seek its shareholders' approval for the following proposals at the forthcoming 8th Annual General Meeting ("AGM") of the Company:-

1. Proposed Renewal of Shareholders' Mandate for Recurrent Related Party Transactions (“RRPT”) of a revenue or trading nature ("Proposed Renewal of RRPT Mandate");
2. Proposed Renewal of Share Buy-Back Authority by the Company ("Proposed Renewal of Share Buy-Back Authority"); and
3. Proposed adoption of new Constitution of the Company (“Proposed New Constitution”).

1. PROPOSED RENEWAL OF RRPT MANDATE

Pursuant to Paragraph 10.09 and Practice Note 12 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Sunway had procured the shareholders' mandate at its last AGM held on 14 June 2017, to allow Sunway and its subsidiaries to enter into RRPT of a revenue or trading nature and in the ordinary course of business which are necessary for the day-to-day operations with related parties. The shareholders' mandate will lapse upon the conclusion of the forthcoming AGM unless the mandate is renewed. 

The Company proposes to seek the approval of its shareholders for the Proposed Renewal of RRPT Mandate at its forthcoming AGM. 

2. PROPOSED RENEWAL OF SHARE BUY-BACK AUTHORITY

The Company proposes to seek its shareholders' approval to purchase its own shares of up to 10% of the total number of issued shares of the Company subject to compliance with Section 127 of the Companies Act 2016, the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and any prevailing laws, rules, regulations and guidelines issued by the relevant authorities.

3. PROPOSED NEW CONSTITUTION

The Company also proposes to seek its shareholders' approval on the Proposed New Constitution of the Company at the forthcoming AGM. The Proposed New Constitution is to ensure compliance with the amended Main Market Listing Requirements of Bursa Malaysia Securities Berhad and the Companies Act 2016.

CIRCULAR TO SHAREHOLDERS

A Circular to Shareholders which sets out the details of the Proposed Renewal of RRPT Mandate, Proposed Renewal of Share Buy-Back Authority and Proposed New Constitution will be despatched to the shareholders together with the Annual Report of Sunway in due course.

This announcement is dated 21 March 2018.