BURSA ANNOUCEMENTS

Date : 28 April 2011

MATERIAL LITIGATION SUNWAY REAL ESTATE INVESTMENT TRUST ("SUNREIT") - LEGAL PROCEEDINGS INSTITUTED BY ROBERT TI AND KORNELIS KURNIADI AGAINST COMMERCE INTERNATIONAL MERCHANT BANKERS BERHAD, OSK TRUSTEES BERHAD, SUNWAY REAL ESTATE INVESTMENT TRUST, TIMBALAN PENDAFTAR MAHKAMAH TINGGI KUALA LUMPUR AND ABU BAKAR BIN ABDUL RAHMAN (ORIGINATING SUMMON NO: 24NCVC-901-2011)

SUNWAY REAL ESTATE INVESTMENT TRUST

TypeAnnouncement
SubjectMATERIAL LITIGATION
DescriptionSUNWAY REAL ESTATE INVESTMENT TRUST ("SUNREIT")
- LEGAL PROCEEDINGS INSTITUTED BY ROBERT TI AND KORNELIS KURNIADI AGAINST COMMERCE INTERNATIONAL MERCHANT BANKERS BERHAD, OSK TRUSTEES BERHAD, SUNWAY REAL ESTATE INVESTMENT TRUST, TIMBALAN PENDAFTAR MAHKAMAH TINGGI KUALA LUMPUR AND ABU BAKAR BIN ABDUL RAHMAN (ORIGINATING SUMMON NO: 24NCVC-901-2011)
We refer to our announcement made on 20 April 2011 in relation to the above matter.
With reference to the summon-in-chamber dated 18 April 2011 which was heard on 27 April 2011 (after being postponed from 22 April 2011) and fixed for decision on 28 April 2011, the High Court dismissed the summon-in-chambers with costs in which the Plaintiffs sought the following relief:

(1) an interim injunction to restrain OSK Trustees Berhad (“Trustee”) and/or SUNREIT from completing the Memorandum of Sale dated 30 March 2011 with regards to the Putra Place Land;

(2) an interim injunction to restrain the Trustee and/or SUNREIT from receiving the Certificate of Sale in National Land Code Form 16F with regards to the Putra Place Land;

(3) as an alternative, if the Trustee and/or SUNREIT have received the Certificate of Sale in National Land Code Form 16F, an interim injunction to restrain the Trustee and /or SUNREIT from taking any steps or further steps to present the Form 16F to the land office for registration of the transfer to the Trustee and/or SUNREIT and/or any other third party;

(4) any other relief.

The High Court also dismissed the Plaintiffs’ oral application for an interim order that the Trustee and SUNREIT be restrained from selling or dealing with Putra Place pending the disposal of the originating summons.

The High Court has also fixed the originating summons for case management on 5 May 2011.

The Trustee has been advised by its solicitors that in their opinion, the Plaintiffs are not likely to succeed in their claims in the originating summons against the Trustee.

This announcement is dated 28 April 2011.


Announcement Info

Company NameSUNWAY REAL ESTATE INVESTMENT TRUST  
Stock Name SUNREIT    
Date Announced28 Apr 2011  
CategoryGeneral Announcement
Reference NoSR-110428-575AD

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