On behalf of the Board of Directors of Sunsuria (“Board”), AmInvestment Bank Berhad (“AmInvestment Bank”), RHB Investment Bank Berhad (“RHB Investment Bank”) and Astramina Advisory Sdn Bhd (“Astramina”) wish to announce that the Company had on 19 May 2014, entered into a Heads of Agreement (“HOA”) with the companies related to its Executive Chairman and substantial shareholder, Datuk Ter Leong Yap, namely Sunsuria Development Sdn Bhd (“SDSB”), Rentak Nusantara Sdn Bhd (“RNSB”) and Strata Johan Sdn Bhd (“SJSB”) (collectively referred to as the “Vendors”) to explore and negotiate with the respective Vendors in relation to the following assets / projects:-

(i)         100% equity interest in Sunsuria Gateway Sdn Bhd (“SGSB”) held by SDSB;

(ii)         100% equity interest in Sunsuria South Sdn Bhd (“SSSB”) held by SDSB;

(iii)        51% equity interest in Oscar Cheers Sdn Bhd (“OCSB”) held by SDSB;

(iv)        30% equity interest in OCSB held by SJSB; and

(items (i) to (iv) are collectively referred to as the “Proposed Shares Acquisitions” and SGSB, SSSB and OCSB are collectively referred to as the “Identified Companies”)

(v)        an ongoing residential development project comprising 49 units of bungalow lots together with infrastructure (“Suria Hills 2B” or “Identified Project”) (“Proposed Project Acquisition”).

(The Proposed Project Acquisition and the Proposed Shares Acquisition are collectively known as the “Proposed Acquisitions”)

Further details of the Proposed Acquisitions are set out in the attachment.

This announcement is dated 19 May 2014.