| 22 Nov 05 |
Hartford Lane Pty Limited ("HLPL"), a subsidiary of Suncity has on 22 December 2005 entered into a Co-Venture Agreement with Australand Industrial No. 111 Pty Limited ("Australand") to undertake and complete the development of a land located at Western Sydney, Australia or any similar undertaking as agreed between the parties from time to time in relation to the Land.
Pursuant to the Co-Venture Agreement, HLPL has also on even date, entered into a Contract for the Sale of Land with Australand to dispose off its 50% interest in the Land, the improvements and all fixtures thereon to Australand for a total consideration of AUD20,925,000/- (excluding Goods and Services Tax). |
| 22 Nov 05 |
Sunway South Quay Sdn Bhd (formerly known as Renown Oasis Sdn Bhd) ("SSQ"), a wholly-owned subsidiary of Sunway Lagoon Sdn Bhd ("SLSB") which in turn is a 51% owned subsidiary of Suncity had on 22 November 2005, entered into a Subscription Agreement with SLSB and Kuwait Finance House (Malaysia) Berhad ("KFHMB") for the subscription of shares in the share capital of SSQ as follows:
a) SLSB shall subscribe for additional 175,000 ordinary shares at par by way of capitalization of part of its existing shareholder's loan to SSQ; and
b) KFHMB shall subscribe for 50,000 ordinary shares for a total cash consideration of RM5,880,000.00.
On even date, SSQ had also entered into a Musyarakah Shareholders' Agreement with SLSB and KFHMB to record their joint venture arrangement and their mutual rights and obligations as shareholders of SSQ and contribution of "Musyarakah Capital" as follows:
a) SLSB shall provide RM260,835,504.00 or 80% of the Musyarakah Capital by way of conversion of the existing shareholder's loan granted by SLSB to SSQ.
b) KFHMB shall provide RM63,751,000.00 or 20% of the Musyarakah Capital by way of cash injection. |
| 20 Nov 05 |
Completion of proposed investment of 48% equity interest in SRH for RM170.139million by Reco Resort Hotel Pte Ltd (RECO). RECO is a wholly owned subsidiary of Recosia Pte Ltd who is in turn a wholly owned subsidiary of the Government of Singapore Investment Corporation (Realty) Pte Ltd. |
| 02 Mar 05 |
Casa Mujur Sdn Bhd ("CMSB"), a wholly-owned subsidiary of Suncity has on 2 March 2005, entered into a Sale and Purchase Agreement ("SPA") with Melawati Development Sdn Bhd ("MDSB") to acquire a parcel of freehold land distinguished as a portion of Sector B and C, Desa Melawati held under part of Master Title Geran No. 30967 Lot 25059, part of Master Title HS(D) 104424 PT No. 7685 and part of Master Title Geran No. 26925 Lot 1265 all in the Mukim Setapak, Daerah Kuala Lumpur, Wilayah Persekutuan measuring approximately 56.59 acres ("the said Land") for a total consideration of RM44,371,087.20. The said Land is located near Tunku Abdul Rahman College. |
