BURSA ANNOUCEMENTS

Date : 27 July 2017

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SUNWAY REAL ESTATE INVESTMENT TRUST (SUNREIT) - FIRST SUPPLEMENTAL AGREEMENT TO THE HOTEL MASTER LEASE DATED 26 MAY 2010 BETWEEN RHB TRUSTEES BERHAD (AS TRUSTEE FOR SUNWAY REAL ESTATE INVESTMENT TRUST), SUNWAY REIT MANAGEMENT SDN BHD AND SUNWAY HOTEL (SEBERANG JAYA) SDN BHD

SUNWAY REAL ESTATE INVESTMENT TRUST

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
SUNWAY REAL ESTATE INVESTMENT TRUST (SUNREIT)
-	FIRST SUPPLEMENTAL AGREEMENT TO THE HOTEL MASTER LEASE DATED 26 MAY 2010 BETWEEN RHB TRUSTEES BERHAD (AS TRUSTEE FOR SUNWAY REAL ESTATE INVESTMENT TRUST), SUNWAY REIT MANAGEMENT SDN BHD AND SUNWAY HOTEL (SEBERANG JAYA) SDN BHD

We refer to the Hotel Master Lease dated 26 May 2010 made between RHB Trustees Berhad as Trustee for SUNREIT (the Lessor or the Trustee), Sunway REIT Management Sdn Bhd as the Manager for SUNREIT (the Manager) and Sunway Hotel (Seberang Jaya) Sdn Bhd (SHSJ or the Lessee), a wholly-owned subsidiary of Sunway City Sdn Bhd (SunCity) which in turn is a wholly-owned subsidiary of Sunway Berhad (Sunway) (SHSJ Hotel Master Lease) whereby the Lessor agreed to lease the Land including the Hotel, the Plant, the Services Infrastructure including all equipment, fixtures, fittings, finishings and other property located in the Premises, and where the context permits, includes equipment, fixtures, fittings, finishings and other property installed by Lessee in the Premises, but excluding the Car Park to the Lessee to be operated as a hotel commencing from 8 July 2010 for a period of 10 years and will end on 7 July 2020 at a total rent in accordance with the formula and, subject to the terms and conditions as stipulated in the SHSJ Hotel Master Lease.

The Lessor and Lessee have agreed that Sunway Carnival Convention Centre (SCCC) will cease to be operated by the Lessee and hence, the Manager and the Lessor (pursuant to the recommendation by the Manager) have agreed to reduce the Guaranteed Rent for the period from 1 July 2017 to 30 June 2020 (8th Fiscal Year to 10th Fiscal Year) for the portion of the Guaranteed Rent as set out in Annexure 1 of the First Supplemental Agreement to the SHSJ Hotel Master Lease (First Supplemental Agreement).

Please refer to the attachment below for the details of the announcement.

This announcement is dated 27 July 2017.




Please refer attachment below.



Announcement Info

Company Name SUNWAY REAL ESTATE INVESTMENT TRUST
Stock Name SUNREIT
Date Announced 27 Jul 2017
Category General Announcement for PLC
Reference Number GA1-27072017-00035


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