1.   INTRODUCTION

On behalf of Sunsuria Berhad (“the Company” or “Sunsuria”), the Board of Directors wishes to announce that the Company has incorporated a company, namely Sunsuria Oride Sdn Bhd (“SOSB”) with two (2) ordinary shares of RM1.00 each held by its subsidiaries, Sunsuria City Sdn Bhd (formerly known as Sime Darby Sunsuria Development Sdn Bhd)  and Sunsuria Gateway Sdn Bhd on 2 June 2016. 

Consequent thereto, SOSB become an indirect subsidiary of the Company with effective interest of 99.99%.

2.   INFORMATION

SOSB was incorporated in Malaysia under the Companies Act, 1965 on 2 June 2016. The present authorised share capital of SOSB is RM400,000.00 divided into 400,000 ordinary shares RM1.00 each and the paid-up share capital is RM2.00 divided into 2 ordinary shares of RM1.00 each.

The principal activity of SOSB is investment holding.

3.    FINANCIAL EFFECTS

The incorporation of SOSB as the indirect subsidiary of the Company is not expected to have any material effects on the earnings or net assets of the Company for the financial year ending 30 September 2016.

4.  DIRECTORS’ AND MAJOR SHAREHOLDERS’ AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHAREHOLDER’S INTEREST

Other than via the Company, none of the Directors and/or major shareholders or persons connected to them have any interest, direct or indirect, in the aforesaid incorporation.

5.   STATEMENT BY THE BOARD OF DIRECTORS

The Board of Directors is of the opinion that the incorporation of the indirect subsidiary is to undertake future business expansion and is in the best interest of the Company.

This announcement is dated 3 June 2016.