The Board of Directors of Sunway wishes to announce that SunwayMas Sdn Bhd (“SunwayMas”), a subsidiary of Sunway has on 26 October 2018, entered into a Shareholders’ Agreement (“SA”) with Perkasa Bernas (M) Sdn Bhd (“Perkasa”), a subsidiary of MKH Berhad and Daksina Harta Sdn Bhd (“Daksina”) with intention to jointly develop a mixed development on the freehold land held under Geran 47813, Lot No. 1, Mukim Kajang Daerah Ulu Langat Negeri Selangor measuring approximately 5.28 acres (“the Land”) as well as to regulate the relationship between SunwayMas and Perkasa as the shareholders of Daksina (“Proposed Joint Venture”).

SunwayMas has on even date, entered into a Share Sale Agreement (“SSA”) with Perkasa, whereby SunwayMas agrees to dispose of 4 ordinary shares in Daksina to Perkasa (“Sale Shares”), representing 40% of the share capital of Daksina, at a total consideration of RM5,000,000/- (“Proposed Disposal”).    

Please refer to the attachment below for further details of the Proposed Joint Venture and Proposed Disposal

This announcement is dated 26 October 2018.