BURSA ANNOUNCEMENTS

Date : 08 January 2021

OTHERS SUNWAY BERHAD ("SUNWAY") - COMPLETION OF THE JOINT VENTURE (SUPPLEMENTAL) AGREEMENT BETWEEN SUNWAY INTEGRATED PROPERTIES SDN BHD (A SUBSIDIARY), SUNWAY CONSTRUCTION BERHAD (NOW KNOWN AS SUNWAY CONSTRUCTION SDN BHD) AND USAHASEWA SDN BHD

SUNWAY BERHAD

Type Announcement
Subject OTHERS
Description
SUNWAY BERHAD ("SUNWAY")
- COMPLETION OF THE JOINT VENTURE (SUPPLEMENTAL) AGREEMENT BETWEEN SUNWAY INTEGRATED PROPERTIES SDN BHD (A SUBSIDIARY), SUNWAY CONSTRUCTION BERHAD (NOW KNOWN AS SUNWAY CONSTRUCTION SDN BHD) AND USAHASEWA SDN BHD

We refer to the announcement made by Sunway City Berhad (now known as Sunway City Sdn Bhd) (SunCity) on 7 October 2003 in relation to the following agreements (Agreements):-

 

(i)  Agreement between SunCity and Sunway Construction Berhad (now known as Sunway Construction Sdn Bhd) (SCSB) whereby SCSB had delegated its obligations as developer for the development of all that piece of land (Land) held under H.S. (D) 155806 PT No. 3789 in Mukim Bukit Raja, District of Petaling, State of Selangor measuring approximately 40.4686 hectares (Development) to SunCity; and

(ii) Joint Venture (Supplemental) Agreement (JVA) between SunCity, SCSB and Usahasewa Sdn Bhd (Usahasewa) to set out and define the additional obligations of Usahasewa as the registered proprietor of the Land.

 

SunCity had on 18 August 2011, novated the JVA to Sunway Integrated Properties Sdn Bhd, a wholly-owned subsidiary of SunCity.

 

As the Development had been completed and the obligations of the parties under the Agreements had been discharged, the Board of Directors of Sunway is pleased to announce that the unincorporated joint venture between the parties has been dissolved.

 

This announcement is dated 8 January 2021.






Announcement Info

Company Name SUNWAY BERHAD
Stock Name SUNWAY
Date Announced 08 Jan 2021
Category General Announcement for PLC
Reference Number GA1-08012021-00025


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