Bursa Announcements

Date : 23 August 2013

OTHERS SUNWAY BERHAD (“SUNWAY”) - LETTER OF AWARD TOTALLING RM282.9 MILLION FROM PULAU INDAH VENTURES SDN BHD [A JOINT VENTURE COMPANY BETWEEN KHAZANAH NASIONAL BERHAD AND TEMASEK HOLDINGS (PRIVATE) LIMITED]

SUNWAY BERHAD

TypeAnnouncement
SubjectOTHERS
DescriptionSUNWAY BERHAD (“SUNWAY”)
- LETTER OF AWARD TOTALLING RM282.9 MILLION FROM PULAU INDAH VENTURES SDN BHD [A JOINT VENTURE COMPANY BETWEEN KHAZANAH NASIONAL BERHAD AND TEMASEK HOLDINGS (PRIVATE) LIMITED]
The Board of Directors of Sunway is pleased to announce that Sunway Construction Sdn Bhd (“SunCon”), a wholly-owned subsidiary of Sunway Holdings Sdn Bhd which in turn is a wholly-owned subsidiary of Sunway, has on 23 August 2013, accepted the letter of award worth RM282.9 million from Pulau Indah Ventures Sdn Bhd [a joint venture company between Khazanah Nasional Berhad and Temasek Holdings (Private) Limited] for the proposed development in accordance with Section 70, Act 133 for mixed development “Urban Wellness” comprising :
1. Phase 1 (PTD 170678)
      i) 1 block of corporate training center (5-storey and 1 unit of commercial space on the ground floor)
ii) 1 block of health center building (4-storey)
iii) Car park podium (1-storey and 5 commercial space at basement)
iv) Basement car park [2 levels (P1 & P2)]

2. Phase 2 (PTD 170679)
i) 1 block of service apartment A [23-storey (147 units-in stratified)]
      ii) 1 block of service apartment B [33-storey (310 units) with 2 units of commercial space at the ground floor]
iii) 1 block of commercial building (1-storey)
      iv) Car park podium (2-storey and 4 units of commercial space at basement 1)
      v) Basement car park [2 levels (P1 & P2)]
3. Car park - 4 levels at open space reserve land (Government land)
    [hereinafter referred to as the “Proposed Project”].

    The Proposed Project is expected to commence on 1 September 2013 and completed by 31 October 2015 with a construction period of 26 months. It is expected to contribute positively to the earnings of Sunway Group from the financial year ending 31 December 2014 onwards.

    The Proposed Project is subject to normal construction risk of materials price fluctuation. However, with the past experience and expertise of SunCon in construction projects, this risk could be mitigated.

    None of the directors or substantial shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the Proposed Project.

    This announcement is dated 23 August 2013.

    Announcement Info

    Company NameSUNWAY BERHAD  
    Stock Name SUNWAY    
    Date Announced23 Aug 2013  
    CategoryGeneral Announcement
    Reference NoSS-130823-43B02

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