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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- LETTER OF AWARD TOTALLING RM569 MILLION FROM SYARIKAT PRASARANA NEGARA BERHAD
The Board of Directors of Sunway is pleased to announce that Sunway Construction Sdn Bhd (“SunCon”), a wholly-owned subsidiary of Sunway has on 16 August 2011, accepted the letter of award for a contract worth RM569 million from Syarikat Prasarana Negara Berhad, for the construction and completion of facilities works (Package B) for the Kelana Jaya (KLJ) line extension project [hereinafter referred to as "the Proposed Project"]. The Proposed Project consists of the construction and completion of facilities all along the 8.1km project route from Persiaran Kewajipan, Subang Jaya to Putra Heights. The work includes site clearance, earthworks, viaduct construction, roadworks, drainage works, traffic management, structural works and temporary works.
The Proposed Project is expected to commence upon handing over of site possession which is anticipated in September 2011 with a construction period of 29 months. It is expected to contribute positively to the earnings of Sunway Group for the financial year ending 31 December 2012 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 in Malaysia, this risk could be mitigated at this juncture.
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 16 August 2011.
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- DISPOSAL OF 51% EQUITY INTEREST IN SUNWAY SMARTEK MARKETING SDN BHD AND DEED OF MUTUAL TERMINATION BETWEEN SUNWAY SMARTEK SDN BHD, A 75.1% OWNED SUBSIDIARY OF SUNWAY AND ARROWMEDIA SDN BHD
1. INTRODUCTION
We wish to inform that pursuant to Paragraph 9.19(24) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Sunway Smartek Sdn Bhd (“Sunway Smartek”), a 75.1% owned subsidiary of Sunway had on 7 April 2011, disposed off 51,000 ordinary shares of RM1/- each, representing 51% equity interest in Sunway Smartek Marketing Sdn Bhd ("Sunway Smartek Marketing") to Mr Chen Shiang Yih and Ms Fong Shin Chien for a total cash consideration of RM51,000/- [hereinafter referred to as "Disposal"]. The sale consideration was arrived at on a willing buyer willing seller basis. As a result of the Disposal, Sunway Smartek Marketing has ceased to be a subsidiary of Sunway Smartek.
Sunway Smartek had also on 7 April 2011, entered into a Deed of Mutual Termination with Arrowmedia Sdn Bhd (“Arrowmedia”) to mutually terminate the Joint Venture Agreement (“JVA”) which was signed with Arrowmedia on 20 July 2007 [hereinafter referred to as "Termination of JVA"]. The announcement on the JVA was made on 24 July 2007.
2. INFORMATION ON SUNWAY SMARTEK, ARROWMEDIA AND SUNWAY SMARTEK MARKETING
2.1 Sunway Smartek
Sunway Smartek is a company incorporated in Malaysia and having its registered office at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan. The authorised and paid-up share capital of Sunway Smartek are RM100,000/- and RM2/- respectively. Sunway Smartek is presently dormant.
2.2 Arrowmedia
Arrowmedia is a company incorporated in Malaysia and having its registered office at Unit 12.03, 12th Floor, MCB Plaza, No. 6 Changkat Raja Chulan, Kuala Lumpur. The authorised and paid-up share capital of Arrowmedia are RM500,000/- and RM200,002/- respectively. The principal activities of Arrowmedia are specialised in lighting control, sound reinforcement and smart home system.
2.3 Sunway Smartek Marketing
Sunway Smartek Marketing, a 51% owned subsidiary of Sunway Smartek, is a company incorporated in Malaysia and having its registered office at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan. The authorised and paid-up share capital of Sunway Smartek Marketing are RM100,000/- respectively. The intended principal activities of Sunway Smartek Marketing were to engage in the business of the distribution, marketing, sales and after sales services of construction/automation equipment for the integration of electronic devices used for residential purposes more commonly known as “Smart Device Connectivity” and other products of like purpose designed and developed by Sunway Smartek. Sunway Smartek Marketing has not commenced business operation and is presently dormant.
3. BACKGROUND OF THE JVA
Under the JVA, Sunway Smartek and Arrowmedia had agreed to form a joint venture company to engage in the business of the distribution, marketing, sales and after sales services of construction/automation equipment for the integration of electronic devices used for residential purposes more commonly known as “Smart Device Connectivity” and other products of like purpose designed and developed by Sunway Smartek, as well as to regulate the rights and obligations of the parties in relation to the administration and management of Sunway Smartek Marketing with the following shareholding structure:-
Pursuant to the JVA, the total issued share capital of HHSP is S$1,000,000 and the shareholding structure is as set out in Table 1 below.
Sunway Smartek - 51%
Arrowmedia - 49%
4. RATIONALE FOR THE DISPOSAL AND TERMINATION OF JVA
As Sunway Smartek Marketing is presently dormant and has not commenced business operation since its inception, the parties have agreed to mutually terminate the JVA.
5. EFFECTS OF THE DISPOSAL AND TERMINATION OF JVA
The Disposal and Termination of JVA have no material effect on Sunway's earnings per share and net assets per share. There will be no effect on the share capital and substantial shareholders' shareholding of Sunway.
6. APPROVALS REQUIRED
The Disposal and Termination of JVA do not require approval from the shareholders of Sunway or any authorities.
7. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS
Mr Chen Shiang Yih is a Director of Sunway Smartek and Ms Fong Shin Chien is the wife of Mr Chen Shiang Yih. Both of them do not have any shareholding, direct or indirect in Sunway Smartek or Sunway Smartek Marketing.
Save as disclosed above, none of the directors or major shareholders of Sunway or persons connected with them has any interest, direct or indirect in the Disposal and Termination of JVA.
This announcement is dated 8 April 2011.
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- LETTER OF AWARD TOTALLING RM22,567,878.30 FROM PERUMAHAN SLG CENTRAL SDN BHD
The Board of Directors of Sunway is pleased to announce that Sunway Geotechnics (M) Sdn Bhd (“SunGeo”), a wholly-owned subsidiary of Sunway Construction Sdn Bhd (“SunCon”), which in turn is a wholly-owned subsidiary of Sunway has on 1 April 2011, accepted the letter of award for a contract worth RM22,567,878.30 from Perumahan SLG Central Sdn Bhd, a subsidiary of Sim Lian Group Ltd, Singapore, for the piling work for the proposed development of 3 blocks of commercial building including 5-level podium which comprises 2 blocks of 40-storey service apartment (264 units), 1 block of 34-storey office, 2-storey basement car park at Lot 49-56 (Section 88A) and Lot 112-115 & 120 (Section 43), Jalan Tun Razak, Kuala Lumpur [hereinafter referred to as "the Proposed Project"].
The Proposed Project is targeted to be completed by 30 September 2011 with a construction period of 6 months. It is expected to contribute positively to the earnings of Sunway Group for the financial year ending 31 December 2011 onwards.
The Proposed Project is subject to normal construction risk of materials price fluctuation. However, with the past experience and expertise of SunCon and SunGeo in construction projects in Malaysia, this risk could be mitigated at this juncture.
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 1 April 2011.
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- ACCEPTANCE OF BANKING FACILITIES GRANTED BY STANDARD CHARTERED BANK MALAYSIA BERHAD TO SUNWAY CONSTRUCTION SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF SUNWAY
Pursuant to Part C of Chapter 9, Paragraph 9.04 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Sunway wishes to announce that Sunway Construction Sdn Bhd ("SunCon"), a wholly-owned subsidiary of Sunway has secured banking facilities amounting to RM43 million from Standard Chartered Bank Malaysia Berhad, details as set out in the Table below.
SunCon has an authorised and paid-up share capital of RM1,000,000,000/- and RM193,954,000/- respectively. The principal activities of SunCon are turnkey, construction related design and build, civil engineering and building works.
| Type of Facilities |
Limit(RM’million) |
Purpose |
| Overdraft |
3 |
Working capital |
| Local Bills Discounted (LBD) |
40 |
Advance cash against presentation of certified progress claims and invoices |
| Total: |
43 |
|
This announcement is dated 21 March 2011.
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- LETTER OF AWARD TOTALLING RM74.1 MILLION FROM MALAYSIAN BIO-XCELL SDN BHD
The Board of Directors of Sunway is pleased to announce that Sunway Construction Sdn Bhd (“SunCon”), a wholly-owned subsidiary of Sunway has on 7 March 2011, accepted the letter of award for a contract worth RM74.1 million from Malaysian Bio-XCell Sdn Bhd, for the proposed Engineering, Procurement, Construction and Commissioning for Central Utilities Facility at Biotechnological Park Bio-XCell, Nusajaya, Johor [hereinafter referred to as "the Proposed Project"].
The Proposed Project is targeted to be completed by 25 May 2012. It is expected to contribute positively to the earnings of Sunway Group for the financial year ending 31 December 2011 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 in Malaysia, this risk could be mitigated at this juncture.
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 7 March 2011.
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- LETTER OF AWARD TOTALLING RM257,968,680.26 FROM IDR ASSETS SDN BHD
The Board of Directors of Sunway is pleased to announce that Sunway Construction Sdn Bhd (“SunCon”), a wholly-owned subsidiary of Sunway had on 3 March 2011, accepted the letter of award for a contract worth RM257,968,680.26 from IDR Assets Sdn Bhd, for the proposed construction and completion of package 4 – facility construction for LEGOLAND Malaysia Theme Park development on part of Lot PTD 154492 and Lot PTD 154493, Mukim Pulai, Daerah Johor Bahru, Johor Darul Takzim [hereinafter referred to as "the Proposed Project"].
The Proposed Project is targeted to be completed on 2 June 2012 with a construction period of 15 months. It is expected to contribute positively to the earnings of Sunway Group for the financial year ending 31 December 2011 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 in Malaysia, this risk could be mitigated at this juncture.
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 4 March 2011.
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
(1) DISCLOSURE IN RELATION TO ANY AGREEMENT, ARRANGEMENT, JOINT VENTURE OR COLLABORATION FOR THE PURPOSE OF BIDDING FOR OR SECURING A PROJECT OR CONTRACT (COLLECTIVELY KNOWN AS "VENTURES")
(2) STATUS OF MEMORANDUM OF UNDERSTANDING (“MOU”)
We refer to Bursa Malaysia Securities Berhad's (“Bursa Securities”) letter dated 4 August 2006 and wish to announce the status of progress of the Ventures of Sunway Group, details as set out in Table 1 below.
Pursuant to Chapter 9, Paragraph 9.29 of the Listing Requirements of Bursa Securities, we also wish to announce the status of the MOU, details as set out in Table 2 below.
This announcement is dated 28 February 2011.
Table 1:
| Date of First Announcement |
Subject Matter |
Status |
| 12.02.2010 |
Letter of Award for a contract worth RM21,486,659.62 from Sunway City Berhad to Sunway Construction Sdn Bhd (a wholly-owned subsidiary of Sunway) for the proposed construction of 100 units of 2-storey cluster homes and 1 unit of TNB sub-station (Phase 2B) on Lot PT 3789, Seksyen U10, Shah Alam, Mukim Bukit Raja, Daerah Petaling, Selangor Darul Ehsan ("the Project"). |
The Project has generated revenue, recognised and consolidated in the quarterly results of Sunway. |
| 01.04.2010 |
Letter of Award for a contract worth RM88 million from Heritage Lane Sdn Bhd (a wholly-owned subsidiary of KLCC Holding Sdn Bhd) to Sunway Construction Sdn Bhd (a wholly-owned subsidiary of Sunway) for the construction and completion of the main contract and associated works for the proposed Phase 2 of Impiana KLCC Development, which is an extension to the existing hotel wings comprising an additional 3-storey car park podium and 22-storey tower block above the existing 4-storey car park podium on Lots 696, 697 and 698, Seksyen 57, Jalan Pinang, Kuala Lumpur ("the Project"). |
The Project has generated revenue, recognised and consolidated in the quarterly results of Sunway. |
| 17.05.2010 |
Letter of Award for a contract worth RM88 million from Sunway City Berhad to Sunway Geotechnics (M) Sdn Bhd (a wholly-owned subsidiary of Sunway) for the proposed earthworks, piling and substructure works for the construction of 1 block of 24-storey office tower and 6-storey basement car park for Phase 3 on part of Lot 42, Jalan PJS11/15, Bandar Sunway, Mukim Damansara, Daerah Petaling, Selangor Darul Ehsan ("the Project"). |
The Project has generated revenue, recognised and consolidated in the quarterly results of Sunway. |
| 17.05.2010 |
Letter of Award for a sub-contract worth AED74.5 million (equivalent to approximately RM65.69 million) from Silver Coast – Sunway Innopave Joint Venture to Sunway Creative Stones Sdn Bhd (Abu Dhabi Branch) (a 70% owned subsidiary of Sunway) for the supply, delivery and installation of stones and tiling works for the proposed Arzanah Development, Sector W-57, Abu Dhabi, United Arab Emirates – Rihan Heights (Phase 1A – Plot H) ("the Project"). |
The Project has generated revenue, recognised and consolidated in the quarterly results of Sunway. |
| 31.05.2010 |
Letter of Award for a contract worth RM209.6 million from Sunway City Berhad to Sunway Construction Sdn Bhd (a wholly-owned subsidiary of Sunway) for the proposed earthworks, piling and main building works for the proposed mixed development of the following on part of Lot No. PT 391 Section 90, Wilayah Persekutuan, Kuala Lumpur:-
(a) 1 block of 13-storey 132 units shop offices;
(b) 1 block of 18-storey 264 units service apartment on a 4-storey podium car park and 2-storey 7 units shop offices;
(c) Recreational facilities comprising swimming pool, gymnasium, foyer, main lobby, drop-off area;
(d) 1-storey open deck at 1st floor; and
(e) 3-storey basement car parks
("the Project"). |
The Project has generated revenue, recognised and consolidated in the quarterly results of Sunway. |
| 28.06.2010 |
Letter of Award for a contract worth RM129 million from PML Dairies Sdn Bhd to Sunway Construction Sdn Bhd (a wholly-owned subsidiary of Sunway) for the proposed construction of a dairy product factory on Lot 56 (PT125494), Jalan Sungai Pinang 4/5, Pulau Indah (KS 13) Port Klang Bandar Diraja, Selangor Darul Ehsan ("the Project"). |
The Project has generated revenue, recognised and consolidated in the quarterly results of Sunway. |
| 01.09.2010 |
Letters of Award for contracts worth RM69.88 million from Putrajaya Holdings Sdn Bhd (“Putrajaya Holdings”) and Gas District Cooling (Putrajaya) Sdn Bhd (“GDC”) to Sunway Construction Sdn Bhd (a wholly-owned subsidiary of Sunway):-
(a) Contract for the proposed construction and completion of roadworks, drainage, utilities and landscaping works at Precinct 7 and 8 (Phase 2) Package A for Pusat Pentadbiran Kerajaan Persekutuan Putrajaya from Putrajaya Holdings; and
(b) Contract for the proposed engineering, procurement, construction and commissioning of chilled water storage tank, plant building and other associated works for gas district cooling plant 4 at Putrajaya from GDC
(“the Project”). |
The Project is in progress |
| 03.09.2010 |
Letter of Award in respect of the tender for the lease of state land parcel Yishun S5b located at Miltonia Close (‘the Land”) for a 99-year lease term at S$165 million (equivalent to approximately RM384 million) from the Housing and Development Board of Singapore. The development of the Land will be undertaken by Hoi Hup Sunway Miltonia Pte Ltd (an associate company of Sunway) (“the Project”). |
The Project is in progress. |
| 19.11.2010 |
Letters of Award for contracts worth RM14.7 million from UCSI Education Sdn Bhd (“UCSI Education”) and UCSI Resort Hotel and Convention Centre Sdn Bhd (“UCSI Resort”) to Sunway Geotechnics (M) Sdn Bhd (a wholly-owned subsidiary of Sunway):-
(a) Contract for the piling and pilecap works for the proposed construction of Medical Centre and Faculty of Medicine UCSI University for 1 block of 12-storey hospital; 1 block of 2-storey M&E complex and 1 unit of guard house from UCSI Education; and
(b) Contract for the piling works for the proposed construction of 17-storey hotel (319 units), 14-storey of student hostel (390 units), 1-storey of restaurant and swimming pool and 3-storey of car park from UCSI Resort
(“the Project”). |
The Project has generated revenue, recognised and consolidated in the quarterly results of Sunway. |
| 26.11.2010 |
Letter of Award from the Housing and Development Board of Singapore in respect of the tender of land parcel at Tampines Avenue 8 (Tampines E9) for a 99-year lease term at S$187.59 million (equivalent to approximately RM450 million) which was jointly submitted by Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and SC Wong Holdings Pte Ltd (“the Project”). |
The Project is in progress. |
| 03.01.2011 |
Letters of Award for contracts worth RM218,821,761.96 from Haluan Prisma Sdn Bhd (“Haluan Prisma”), TRIPLC Industries Sdn Bhd (“TRIPLC”) and KLCC (Holdings) Sdn Bhd (“KLCC Holdings”) to Sunway Construction Sdn Bhd (a wholly-owned subsidiary of Sunway):-
(a) Contract for the proposed design, construction, completion, fitting, commissioning and maintaining the main infrastructure works and satellite works for Universiti Teknologi Mara campus expansion (Zone 1 Phase 2) under the private finance initiative (PFI) scheme on Lot PT 1567 & PT 1568, Mukim Jeram, Daerah Kuala Selangor, Selangor Darul Ehsan for the development works at Zone 1 Phase 2 (Zip 2) for Package A (Student Hostel, Muslim Prayer Room and Maintenance Centre) from Haluan Prisma and Package B (Academic Facilities for Faculty of Business Management, Faculty of Accountancy, Faculty of Hotel Management and Tourism, Library, Student Centre, Cafeteria, Medical Centre and Multi-Purpose Hall) from TRIPLC; and
(b) Contract for the design, construction and completion of the proposed link bridge phase 2 from Impiana KLCC to Raja Chulan (Pavilion KL), Kuala Lumpur from KLCC Holdings
(“the Project”). |
The Project is in progress. |
| 11.01.2011 |
Letter of Award from the Housing and Development Board of Singapore in respect of the tender of land parcel at Yuan Ching Road for a 103-year lease term at S$131.6 million (equivalent to approximately RM314.91 million) which was jointly submitted by Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and SC Wong Holdings Pte Ltd (“the Project”). |
The Project is in progress. |
| 17.02.2011 |
Letter of Award for a contract worth RM37.36 million from the Ministry of Transport, Malaysia to Sunway Construction Sdn Bhd (a wholly-owned subsidiary of Sunway) for the proposed upgrading of Sultan Abdul Aziz Shah Airport, Ipoh, Perak Daruk Ridzuan ("the Project"). |
The Project is in progress. |
Table 2:
| Date of First Announcement |
Subject Matter |
Status |
| 08.10.2007 |
MOU dated 3 October 2007 between Sunway and the Government of the Republic of Trinidad and Tobago to record their mutual understanding and commitment to enter into commercial discussions with each other in respect of certain agreed areas of collaboration pending the negotiation and execution of the relevant binding agreements. |
No update since the last announcement made on 26 November 2010. |
| 22.10.2010 |
MOU dated 22 October 2010 between Sunway and Shanghai Zhushengyuan Real Estate Co. Ltd for the purpose of exploring the feasibility of a mixed development project comprising commercial and residential units in “Wuguang New City” in Wuguangxincheng, Changsha, China and other projects in China. |
No update since the last announcement made on 26 November 2010. |
| 01.12.2010 |
2 MOUs dated 29 November 2010 between Sunway and Jiangsu Changshu Economic Development Zone Authority with the intention to acquire 2 pieces of land measuring 56,000 m2 (84 mo) and 100,000 m2 (150 mo) respectively for the purpose of building factories to manufacture undercarriage parts and hoses. |
No update since the last announcement made on 1 December 2010. |
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- LETTER OF AWARD TOTALLING RM37.36 MILLION FROM MINISTRY OF TRANSPORT, MALAYSIA
The Board of Directors of Sunway is pleased to announce that Sunway Construction Sdn Bhd (“SunCon”), a wholly-owned subsidiary of Sunway has on 17 February 2011, accepted the letter of award for a contract worth RM37.36 million from the Ministry of Transport, Malaysia, for the proposed upgrading of Sultan Abdul Aziz Shah Airport, Ipoh, Perak Darul Ridzuan [hereinafter referred to as "the Proposed Project"].
The Proposed Project is expected to commence in March 2011 with a construction period of 72 weeks. It is expected to contribute positively to the earnings of Sunway Group for the financial year ending 31 December 2011 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 in Malaysia, this risk could be mitigated at this juncture.
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 17 February 2011.
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- ACCEPTANCE OF BANKING FACILITY GRANTED BY BNP PARIBAS, LABUAN BRANCH TO SUNWAY CONSTRUCTION SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF SUNWAY
Pursuant to Part C of Chapter 9, Paragraph 9.04 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Sunway wishes to announce that Sunway Construction Sdn Bhd ("SunCon"), a wholly-owned subsidiary of Sunway has secured a banking facility amounting to USD15,000,000/- (equivalent to approximately RM46,350,000/-) from BNP Paribas, Labuan Branch, details as set out in Table 1 below
SunCon has an authorised and paid-up share capital of RM1,000,000,000/- and RM193,954,000/- respectively. The principal activities of SunCon are turnkey, construction related design and build, civil engineering and building works.
This announcement is dated 11 January 2011.
Table 1:
| Type of Facility |
Limit |
Purpose |
| Multi-Currency Banker’s Guarantee Line |
USD15,000,000/- |
For issuance of tender bonds, performance bonds and advance payment bonds for current contracts and future contracts to be secured by SunCon |
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- TENDER OF LAND PARCEL AT YUAN CHING ROAD FOR PUBLIC HOUSING DEVELOPMENT UNDER THE DESIGN, BUILD AND SELL SCHEME (DBSS)
The Board of Directors of Sunway is pleased to announce that the Housing and Development Board of Singapore had on 10 January 2011, awarded the tender of Land Parcel at Yuan Ching Road ("the Land") for a 103-year lease term at S$131.6 million (equivalent to approximately RM314.91 million), which was jointly submitted by Hoi Hup Realty Pte Ltd ("Hoi Hup"), Sunway Developments Pte Ltd ("SDPL") and SC Wong Holdings Pte Ltd ("SC Wong Holdings")
SDPL is a wholly-owned subsidiary of Sunway Construction Sdn Bhd which in turn is a wholly-owned subsidiary of Sunway. Hoi Hup, SDPL and SC Wong Holdings intend to incorporate a joint venture on 60:30:10 basis to undertake the development of the Land [hereinafter referred to as "the Proposed Project"].
Hoi Hup is a company incorporated in Singapore with a paid-up capital of S$3,000,000/-. The principal activity of Hoi Hup is real estate development.
SC Wong Holdings is a company incorporated in Singapore with a paid-up capital of S$15,000,000/-. The principal activity of SC Wong Holdings is investment holding.
The completion period of the Proposed Project shall be 48 months or earlier, commencing from 10 January 2011 and would contribute positively to the earnings of Sunway Group for the financial year ending 31 December 2012 onwards.
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 11 January 2011.
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- ACCEPTANCE OF BANKING FACILITIES GRANTED BY OVERSEA-CHINESE BANKING CORPORATION LIMITED, SINGAPORE TO SUNWAY LAND PTE LTD, A WHOLLY-OWNED SUBSIDIARY OF SUNWAY
Pursuant to Part C of Chapter 9, Paragraph 9.04 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Sunway wishes to announce that Sunway Land Pte Ltd (“Sunway Land”), a wholly-owned subsidiary of Sunway Construction Sdn Bhd, which in turn is a wholly-owned subsidiary of Sunway has secured banking facilities amounting to S$16.56 million (equivalent to approximately RM39.626 million) from Oversea-Chinese Banking Corporation Limited, Singapore (“the Bank”), details as set out in Table 1 below.
Sunway Land has a paid-up share capital of S$1,000,000/-. The principal activities of Sunway Land are real estate developer and building contractor NEC.
This announcement is dated 10 January 2011.
Table 1:
| Type of Facility |
Limit |
Purpose |
| Land Loan |
S$9,000,000/- |
To part finance up to 60.4% of the purchase price of the land at Land Parcel 796 Wak Hassan Drive/Wak Hassan Place Singapore (“the Property”) or 60.4% of the fair market value of the Property or S$9,000,000/-, whichever is lowest. |
| Construction Loan |
S$7,500,000/- |
To part finance up to 60% of the development costs of the proposed development of 15 units of terrace houses (“the Project”) or S$7,500,000/-, whichever is lower.
The aggregate of the development costs shall include construction costs, professional fees, goods and service tax, marketing and any other payments as may be permitted by any competent authority provided under any law or regulation relating to the development of residential properties as may be approved by the Bank. |
| Banker’s Guarantee |
S$60,000/- |
For issuance of one or more Banker’s Guarantee/Performance Bonds in favour of Urban Redevelopment Authority/the President of Republic of Singapore in relation to the compliance of condition of the Project. |
| Total: |
S$16,560,000/- |
|
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SUNWAY HOLDINGS BERHAD ("SUNWAY")
- LETTERS OF AWARD TOTALLING RM218,821,761.96 FROM HALUAN PRISMA SDN BHD (“HALUAN PRISMA”), TRIPLC INDUSTRIES SDN BHD (“TRIPLC”) AND KLCC (HOLDINGS) SDN BHD (“KLCC HOLDINGS”)
The Board of Directors of Sunway is pleased to announce that Sunway Construction Sdn Bhd (“SunCon”), a wholly-owned subsidiary of Sunway had on 30 December 2010, accepted the letters of award for the following contracts totalling RM218,821,761.96:
1. Contract for the proposed design, construction, completion, fitting, commissioning and maintaining the main infrastructure works and satellite works for Universiti Teknologi Mara campus expansion (Zone 1 Phase 2) under the private finance initiative (PFI) scheme on Lot PT 1567 & PT 1568, Mukim Jeram, Daerah Kuala Selangor, Selangor Darul Ehsan for the development works at Zone 1 Phase 2 (Zip 2) for Package A (Student Hostel, Muslim Prayer Room and Maintenance Centre) from Haluan Prisma and Package B (Academic Facilities for Faculty of Business Management, Faculty of Accountancy, Faculty of Hotel Management and Tourism, Library, Student Centre, Cafeteria, Medical Centre and Multi-Purpose Hall) from TRIPLC [collectively hereinafter referred to as "the Proposed Project 1"]; and
2. Contract for the design, construction and completion of the proposed link bridge phase 2 from Impiana KLCC to Raja Chulan (Pavilion KL), Kuala Lumpur from KLCC Holdings [hereinafter referred to as "the Proposed Project 2"].
The targeted date of completion and duration of the Proposed Projects 1 and 2 are set out in Table 1 below.
The Proposed Projects 1 and 2 are expected to contribute positively to the earnings of Sunway Group for the financial year ending 31 December 2011 onwards.
The Proposed Projects 1 and 2 are subject to normal construction risk of materials price fluctuation. However, with the past experience and expertise of SunCon in construction projects in Malaysia, this risk could be mitigated at this juncture.
None of the directors or substantial shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the Proposed Projects 1 and 2.
This announcement is dated 3 January 2011.
Table 1:
| Proposed Project |
Targeted Date of Completion |
Duration |
| 1 |
31 January 2013 |
24 months |
| 2 |
30 October 2011 |
43 weeks |
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September 2011
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