We refer to our announcements made on 26 October 2018 and 29 October 2018 in relation to the execution of the following agreements:

a) Shareholders’ Agreement dated 26 October 2018 between SunwayMas Sdn Bhd (“SunwayMas”) (a subsidiary of Sunway), Perkasa Bernas (M) Sdn Bhd (“Perkasa”) (a subsidiary of MKH Berhad) and Daksina Harta Sdn Bhd (“Daksina”) (a subsidiary of Sunway) in relation to the 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 as well as to regulate the relationship between SunwayMas and Perkasa as the shareholders of Daksina; and

b) Share Sale Agreement dated 26 October 2018 between SunwayMas and Perkasa (“SSA”) whereby SunwayMas agrees to dispose of 4 ordinary shares in Daksina to Perkasa, representing 40% of the share capital of Daksina, at a total consideration of RM5,000,000/- (“Proposed Disposal”).    

The Board of Directors of Sunway is pleased to announce that the Proposed Disposal was completed on 9 November 2018 in accordance with the terms and conditions of the SSA.

This announcement is dated 9 November 2018.