Bursa Announcements

Date : 26 June 2018

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SUNWAY BERHAD ("SUNWAY") - DISPOSAL OF ENTIRE 30% EQUITY INTEREST HELD BY A SUBSIDIARY IN HOI HUP SUNWAY NOVENA PTE LTD

SUNWAY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
SUNWAY BERHAD ("SUNWAY")
- DISPOSAL OF ENTIRE 30% EQUITY INTEREST HELD BY A SUBSIDIARY IN HOI HUP SUNWAY NOVENA PTE LTD

We refer to our announcement dated 7 December 2012 in relation to the tender of land parcel at Thomson Road/Irrawaddy Road, Singapore (“Land”) and incorporation of a joint venture company in the name of Hoi Hup Sunway Novena Pte Ltd (“HHSN”) to undertake the development of the Land.

We wish to announce that Sunway Developments Pte. Ltd. (“SDPL”), a wholly-owned subsidiary of Sunway Holdings Sdn Bhd which in turn is a wholly-owned subsidiary of Sunway, had on 26 June 2018 entered into a Sale and Purchase Agreement (“SPA”) with Hoi Hup Realty Pte Ltd (“Hoi Hup”) for the purpose of disposing its entire 300,000 ordinary shares representing 30% equity interest in HHSN to Hoi Hup for a cash consideration of SGD39,881,490.78 (equivalent to approximately RM118.2 million) (“Proposed Disposal”). 

Please refer to the attachment below for further details of the Proposed Disposal.

This announcement is dated 26 June 2018. 




Please refer attachment below.



Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 26 Jun 2018
Category General Announcement for PLC
Reference Number GA1-26062018-00052


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