BURSA ANNOUCEMENTS

Date : 27 July 2011

MATERIAL LITIGATION SUNWAY REAL ESTATE INVESTMENT TRUST - LEGAL PROCEEDINGS INSTITUTED BY ROBERT TI AND KORNELIS KURNIADI (“PLAINTIFFS”) 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
- LEGAL PROCEEDINGS INSTITUTED BY ROBERT TI AND KORNELIS KURNIADI (“PLAINTIFFS”) 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 announcements made on 20 April 2011 and 28 April 2011 in relation to the above matter whereby the Plaintiffs have amongst others, sought a declaration that the public auction of Putra Place held on 30 March 2011 was null and void because they were wrongly excluded from bidding and that OSK Trustees Berhad (as trustee for Sunway Real Estate Investment Trust) had contravened a condition of sale in the Proclamation of Sale.
The High Court of Malaya in Kuala Lumpur today dismissed the case with costs.

We are of the view that the decision by the High Court today has again affirmed that the public auction held on 30 March 2011 was validly conducted.

OSK Trustees Berhad (as trustee for Sunway Real Estate Investment Trust) was the successful bidder at the public auction and has since made full payment of the purchase price of RM513.945 million. The document of title to Putra Place has been duly transferred to OSK Trustees Berhad (as trustee) as the legal owner of Putra Place since 19 April 2011.

This announcement is dated 27 July 2011.


Announcement Info

Company NameSUNWAY REAL ESTATE INVESTMENT TRUST  
Stock Name SUNREIT    
Date Announced27 Jul 2011  
CategoryGeneral Announcement
Reference NoSR-110727-54FD0

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