OTHERS SUNWAY BERHAD ("SUNWAY") - INTERNAL REORGANISATION OF GROUP STRUCTURE
SUNWAY BERHAD ("SUNWAY") - INTERNAL REORGANISATION OF GROUP STRUCTURE
We wish to announce that pursuant to Chapter 9, Paragraph 9.19(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Sunway City Sdn Bhd (“SCSB”), a wholly-owned subsidiary of the Company, had on 18 January 2019, acquired 1 ordinary share, representing 100% of the total issued and paid-up share capital of Allson International Hotels & Resorts (B.V.I.) Limited (“AIHRBVI”) from Sunway Hospitality Holdings Limited (“SHHL”) for a total cash consideration of USD1/- (“Internal Reorganisation”).
AIHRBVI was incorporated on 11 September 1990 and its issued and paid-up share capital is USD1/- comprising 1 ordinary share. AIHRBVI is currently dormant.
SHHL was incorporated in British Virgin lslands on 23 March 1995 and its authorized and paid-up share capital are USD100,000/- and USD1,000 respectively. The principal activity of SHHL is investment holding. SHHL is a wholly-owned subsidiary of SCSB.
Upon completion of the Internal Reorganisation, AIHRBVI becomes a direct subsidiary of SCSB.
The Internal Reorganisation is not expected to have any effect on the issued and paid-up share capital of Sunway or Sunway’s substantial shareholders’ shareholdings or any material effect on the earnings, net assets or gearing of Sunway on a consolidated basis.
None of the directors or major shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the Internal Reorganisation.
This announcement is dated 18 January 2019.
|Company Name||SUNWAY BERHAD|
|Date Announced||18 Jan 2019|
|Category||General Announcement for PLC|