Bursa Announcements

Date : 27 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 as well as announcement dated 26 June 2018 pertaining to the disposal of the entire 300,000 ordinary shares representing 30% equity interest in HHSN by Sunway Developments Pte. Ltd., a subsidiary of Sunway, to Hoi Hup Realty Pte Ltd for a cash consideration of SGD39,881,490.78 (equivalent to approximately RM118.2 million) (“Proposed Disposal”).

We wish to inform that the proceeds from the Proposed Disposal is estimated to be used as follows:

Purpose Amount Expected Timeline of Utilization 

New land bank acquisition (which may include Brookvale Park)

 SGD 39.5 million

Within 12 months from completion of the Proposed Disposal
Working capital SGD 0.4 million

Within 12 months from completion of the Proposed Disposal

This announcement is dated 27 June 2018.



Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 27 Jun 2018
Category General Announcement for PLC
Reference Number GA1-27062018-00043


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