Bursa Announcements

Date : 28 February 2020

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS SUNWAY BERHAD ("SUNWAY") 1) SALE AND PURCHASE AGREEMENTS BETWEEN EKUITI MERANTI (M) SDN BHD (NOW KNOWN AS SUNWAY SUBANG SDN BHD) WITH SUNWAY DIMENSION STONES SDN BHD (NOW KNOWN AS SUNWAY SERENE SDN BHD), VIEW2PICK SDN BHD AND CHEN YEW PLASTICS SDN BHD 2) SHAREHOLDERS AGREEMENT BETWEEN SUNWAY CITY SDN BHD AND VIEW2PICK SDN BHD

SUNWAY BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
SUNWAY BERHAD ("SUNWAY")
1) SALE AND PURCHASE AGREEMENTS BETWEEN EKUITI MERANTI (M) SDN BHD (NOW KNOWN AS SUNWAY SUBANG SDN BHD) WITH SUNWAY DIMENSION STONES SDN BHD (NOW KNOWN AS SUNWAY SERENE SDN BHD), VIEW2PICK SDN BHD AND CHEN YEW PLASTICS SDN BHD
2) SHAREHOLDERS AGREEMENT BETWEEN SUNWAY CITY SDN BHD AND VIEW2PICK SDN BHD

We refer to our following announcements:

 

(a) announcement dated 19 February 2016 in relation to the execution of the following agreements by the undermentioned subsidiaries of the Company:

 

(i) Three (3) Sale and Purchase Agreements between Ekuiti Meranti (M) Sdn Bhd (now known as Sunway Subang Sdn Bhd) (“JVCo”), a subsidiary of Sunway, and the parties stated below for the acquisition of the undermentioned parcels of leasehold land (60 years tenure) free from encumbrances for a total purchase consideration of RM32,725,000/- (excluding Goods and Services Tax):

 

Vendors

Details of the lands

Purchase consideration

 

Sunway Dimension Stones Sdn Bhd (now known as Sunway Serene Sdn Bhd)

Hakmilik H.S.(D) 182796, PT 7 in Pekan Subang, Daerah Petaling, Negeri Selangor measuring approximately 8,523 square metres (“PT 7”)

RM12,500,000

View2pick Sdn Bhd (“V2P”)

Hakmilik H.S.(D) 113417, PT 8 in Pekan Subang, Daerah Petaling, Negeri Selangor measuring approximately 0.9105 hectares (“PT 8”)

RM9,000,000

Chen Yew Plastics Sdn Bhd

Hakmilik H.S.(M) 6476, PT 2049 in Mukim Sungai Buluh, Daerah Petaling, Negeri Selangor measuring approximately 2 acres together with buildings erected thereon (“PT 2049”)

RM11,225,000

 

PT 7, PT 8 and PT 2049 shall collectively be referred to as “the Lands”.

 

(ii) A Shareholders Agreement between Sunway City Sdn Bhd (“SCSB”) and V2P for the purpose of establishing a joint venture via the JVCo to develop industrial properties on the Lands as well as to regulate the relationship between SCSB and V2P with respect to the joint venture.

 

(b)     Announcement dated 29 June 2016 in relation to the completion of the Sale and Purchase Agreement for the acquisition of PT 2049; and

 

(c)     Announcement dated 24 May 2017 in relation to the completion of the Shareholders Agreement between SCSB and V2P.

 

The Board of Directors of Sunway is pleased to announce that the Sale and Purchase Agreements for the acquisition of PT 7 and PT 8 were completed on 28 February 2020.

 

This announcement is dated 28 February 2020.






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 28 Feb 2020
Category General Announcement for PLC
Reference Number GA1-27022020-00132


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