We refer to our announcement dated 29 June 2018 in relation to the proposed participation of Sunway Holdings Sdn Bhd (“SunHoldings”), a wholly-owned subsidiary of Sunway, as a venture capitalist via a fund which will be set up as Sun SEA Capital L.P. 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 startups in the region of South East Asia as well as the proposed investment by Sunway City Sdn Bhd (“SunCity”), a subsidiary of Sunway into the Fund. 

We wish to announce that Sun SEA Ltd (“Sun SEA”) as the general partner and SunCity as the initial limited partner had on 3 July 2018, entered into an Initial Exempted Limited Partnership Agreement (“LPA”) , agreeing to form Sun SEA Capital L.P. as an exempted limited partnership pursuant to the Exempted Limited Partnership Law (2018 Revision) of the Cayman Islands. 

When Sun SEA Capital L.P. is registered by the Registrar of Exempted Limited Partnership of the Cayman Islands, Sun SEA and SunCity will enter into an Amended and Restated Limited Partnership  Agreement to govern the investment of the partners into the Fund and regulate the relationship of the partners as well as the conduct of the business and affairs of the Fund by Sun SEA and a subscription agreement to govern the terms and conditions of the commitment of SunCity to invest in the Fund (“Proposed Fund Investment”).

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

This announcement is dated 3 July 2018.