PROVISION OF FINANCIAL ASSISTANCE
|Subject||PROVISION OF FINANCIAL ASSISTANCE
SUNWAY BERHAD ("SUNWAY" OR "COMPANY") PROPOSED PROVISION OF FINANCIAL ASSISTANCE BY SUNWAY TO SUNWAY HEALTHCARE HOLDINGS SDN BHD AND ITS EXISTING AND PROPOSED SUBSIDIARIES
(Unless otherwise stated, all abbreviations used in this Announcement shall have the same meaning as defined in the Company’s announcement in relation to the proposed investment by Greenwood Capital Pte Ltd, an indirect wholly owned subsidiary of GIC (Ventures) Pte Ltd, in Sunway Healthcare Holdings Sdn Bhd, a wholly owned subsidiary of Sunway City Sdn Bhd which in turn is a wholly owned subsidiary of Sunway, for a total subscription consideration of RM750.0 million in cash dated 23 June 2021)
We refer to the Company's announcement dated 23 June 2021 in relation to the Proposed Investment.
On behalf of the Board, Maybank IB wishes to announce that in conjunction with the Proposed Investment, Sunway is proposing to provide financial assistance to the Proposed Sunway Healthcare Group in the form of corporate guarantees of up to RM5,650.0 million (“Proposed Financial Assistance to Sunway Healthcare”) to facilitate the expansion plans of the Proposed Sunway Healthcare Group.
As Sunway Healthcare will become a joint venture company of Sunway City upon completion of the Initial Closing, the Proposed Financial Assistance to Sunway Healthcare is subject to the approval of the shareholders of Sunway to be sought and obtained at the same EGM of the Company to be convened for the Proposed Investment.
Please refer to the attachment below for details of the Proposed Financial Assistance to Sunway Healthcare.
This Announcement is dated 29 July 2021.
Please refer attachment below.
|Company Name||SUNWAY BERHAD|
|Date Announced||29 Jul 2021|
|Category||General Announcement for PLC|