We wish to announce that Sunway City (Penang) Sdn Bhd, a subsidiary of Sunway, has commenced a voluntary winding-up proceeding on Sunway Carnival Sdn Bhd (“SCSB”), its 100% owned subsidiary, on 17 February 2020 as SCSB has ceased business operation. SCSB is currently dormant.

SCSB was incorporated on 20 April 1992 with an issued and paid-up share capital of RM100,000/-. The previous principal activity of SCSB was letting and management of a shopping complex.

Mr Ong Lai @ Ong Kong Lai and Mr Wong Cham Mew, both with business address at Unit C-20-5, Block C, 20th Floor, Megan Avenue II, No. 12, Jalan Yap Kwan Seng, 50450 Kuala Lumpur have been appointed as joint and several liquidators for SCSB on even date.

There are no material losses or effects on the net assets per share and earnings per share of Sunway Group arising from the abovementioned liquidation.

This announcement is dated 17 February 2020.