The Board of Directors of Sunway wishes to announce that Sunway Holdings Sdn Bhd (“SunHoldings”), a wholly-owned subsidiary of Sunway, will participate as a venture capitalist via a fund which will be set up as Sun SEA Capital LP under the laws of the Cayman Islands or such other name as may be designated from time to time (“Fund”), with established venture capitalists namely Koichi Saito and Kuan Hsu (“Venture Capitalists”) as the Fund’s consultants with a focus in fund raising and investing in digital start-ups in the South East Asia region (“Proposed Venture”).

The Fund will be set up by a subsidiary of SunHoldings as the general partner and another subsidiary as the fund manager to the Fund. The Venture Capitalists will serve as directors of the general partner of the Fund as well as members of the investment committee of the Fund.

Sunway City Sdn Bhd, a wholly-owned subsidiary of Sunway, will invest into the Fund with an initial capital of USD5 million. 

Further details will be announced when the Proposed Venture is finalised.

This announcement is dated 29 June 2018.