We wish to announce that Sunway City Sdn Bhd, a wholly-owned subsidiary of Sunway, has commenced a voluntary winding-up proceeding on Sunway Hospitality Holdings Limited (“SHHL”), its 100% owned subsidiary on 20 July 2020 as SHHL has been dormant.

SHHL was incorporated on 23 March 1995 in British Virgin Islands with an authorised and paid-up share capital of USD100,000/- and USD1,000/- respectively. Its principal activity is investment holding. However, it had ceased operation and remained dormant since 1 January 2017.

SHHL has appointed Mr Barry Neil Mitchell of Unit 2701, 27/F, CC Wu Building, 302-8 Hennessy Road, Wanchai, Hong Kong as its liquidator for the member’s voluntary winding-up of SHHL.

The total cost of investment in SHHL was RM1,632,059.60. The voluntary winding up of SHHL is part of Sunway Group’s continuing rationalisation effort to improve efficiency within the Sunway Group and to eliminate unnecessary administrative costs in maintaining dormant subsidiaries.

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 21 July 2020.