We refer to our announcement dated 16 October 2019 in relation to the establishment of a private trust known as Sunway Residence Trust (“Trust”) in Singapore.

The Board of Directors of Sunway wishes to announce that the Trust has on 22 October 2019, incorporated a company known as Sunway Residence (Guernsey) Limited (“SPV”) in Guernsey to acquire purpose-built student accommodation in the United Kingdom, for and on its behalf.

The SPV has issued and paid-up share capital of £1 comprising 1 ordinary share. Its principal activity is real estate activities. The SPV is wholly-owned by the Trust.

None of the directors or major shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the aforesaid incorporation.

This announcement is dated 23 October 2019.