SUNWAY REAL ESTATE INVESTMENT TRUST - LEGAL PROCEEDINGS INSTITUTED BY METROPLEX BERHAD (PROVISIONAL LIQUIDATORS APPOINTED) AGAINST COMMERCE INTERNATIONAL MERCHANT BANKERS BERHAD, OSK TRUSTEES BERHAD, SUNWAY REAL ESTATE INVESTMENT TRUST, SUNWAY REIT MANAGEMENT SDN BHD AND AHMAD FAIRUZ BIN MOHD PUZI (AS AN OFFICER OF THE COURT HAVING CONDUCT OF THE AUCTION OF PUTRA PLACE ON 30 MARCH 2011 (ORIGINATING SUMMONS NO: 24NCVC-952-2011) ["ORIGINATING SUMMONS"]
| SUNWAY REAL ESTATE INVESTMENT TRUST |
| Type | Reply to query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | NE-110428-54965 |
| Subject | SUNWAY REAL ESTATE INVESTMENT TRUST - LEGAL PROCEEDINGS INSTITUTED BY METROPLEX BERHAD (PROVISIONAL LIQUIDATORS APPOINTED) AGAINST COMMERCE INTERNATIONAL MERCHANT BANKERS BERHAD, OSK TRUSTEES BERHAD, SUNWAY REAL ESTATE INVESTMENT TRUST, SUNWAY REIT MANAGEMENT SDN BHD AND AHMAD FAIRUZ BIN MOHD PUZI (AS AN OFFICER OF THE COURT HAVING CONDUCT OF THE AUCTION OF PUTRA PLACE ON 30 MARCH 2011 (ORIGINATING SUMMONS NO: 24NCVC-952-2011) ["ORIGINATING SUMMONS"] |
| Description | We refer to Bursa Malaysia Securities Berhad's letter dated 28 April 2011 on the above matter and furnish below the additional information as requested:- The Manager is of the view that the Originating Summons does not have any immediate material adverse effect on the financial and operations of Sunway REIT including losses (if any). Sunway REIT Management Sdn Bhd ("Manager") and OSK Trustees Berhad have been advised by their respective solicitors that in their opinion, Metroplex Berhad (Provisional Liquidators Appointed), the plaintiff, is not likely to succeed in its claims in the Originating Summons against them. Following the decision of the High Court of Malaya in Kuala Lumpur which was announced on 28 April 2011, the Manager is taking steps to take possession and control of Putra Place. Thereafter the Manager will work towards securing tenancies of the lettable areas in Putra Place and then be in a better position to assess the situation. This announcement is dated 29 April 2011. |
| Query Letter Contents | We refer to SUNREIT's announcement dated 27 April 2011, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities immediately with the following additional information for public release:- 1. The financial and operational impact of the Originating Summons on the group; and 2. The expected losses, if any, arising from the Originating Summons. Yours faithfully KHOO KAY KWAN Head, Issuers Listing Division Regulation KKK/RSA Copy to: General Manager & Head, Market Surveillance Department, Securities Commission (via fax) |
Announcement Info
| Company Name | SUNWAY REAL ESTATE INVESTMENT TRUST |
| Stock Name | SUNREIT |
| Date Announced | 29 Apr 2011 |
| Category | General Announcement |
| Reference No | SR-110429-33C55 |