We refer to our announcement dated 3 June 2019 in relation to the execution of a Share Sale Agreement (“SSA”) by Sunway Holdings Sdn Bhd (“SunHoldings”), a wholly-owned subsidiary of Sunway, with Dolomite Industries Company Sdn Bhd, a subsidiary of Dolomite Corporation Berhad, to acquire 100 ordinary shares in Dolomite Granite Quarry Sdn Bhd (“Dolomite Quarry”) (“Sale Shares”) representing 100% of the total issued and paid-up share capital of Dolomite Quarry together with 4 parcels of leasehold lands measuring approximately 784 acres (“Lands”) and the plants and machinery located on the Lands but excluding premix plant and mobile machinery and equipment and stocks located on the Lands as listed in the SSA (“Plant and Machinery”), free from all charges and encumbrances in the following manner (“Proposed Acquisition”):

a) RM100.00 for the Sale Shares; and

b) RM125,000,000.00 towards payment for the Lands and the Plant and Machinery. 

The Lands are held under the following titles:

a) Pajakan Negeri 113181, Lot 53066 Mukim Ulu Langat, Daerah Ulu Langat, Negeri Selangor;

b) Pajakan Negeri 113182, Lot 53068 Mukim Ulu Langat, Daerah Ulu Langat, Negeri Selangor;

c) Pajakan Negeri 113183, Lot 53065 Mukim Ulu Langat, Daerah Ulu Langat, Negeri Selangor; and

d) Pajakan Negeri 113184, Lot 53069 Mukim Ulu Langat, Daerah Ulu Langat, Negeri Selangor.

The Proposed Acquisition was completed on 11 September 2020 in accordance with the terms of the SSA. Consequently, Dolomite Quarry will become a wholly-owned subsidiary of SunHoldings upon the registration of the share transfer instrument.

This announcement is dated 11 September 2020.