We refer to the Company’s announcement dated 18 August 2016 on the Proposed Joint Venture between Sunsuria City Sdn Bhd (“SCSB”), Sunsuria Gateway Sdn Bhd (“SGSB”) and Oride (M) Sdn Bhd (“Oride”) (hereinafter collective known as “the Parties”) via Sunsuria Oride Sdn Bhd (“JVCO”) for the proposed joint venture business (“Announcement”). Unless otherwise stated, the definitions used herein shall have the same meaning as set out in the Announcement.

Sunsuria Group is presently looking at alternative approach in providing complementary bicycle sharing facilities in the development of Sunsuria City. In view of the foregoing,  the  Board of Directors of Sunsuria wishes to inform that SCSB, SGSB and Oride have mutually agreed to discontinue the proposed joint venture business effective 21 September 2017 and the Joint Venture and Shareholders Agreement dated 18 August 2017 shall be terminated accordingly on even date.

The discontinuation and mutual termination of the proposed joint venture business will not have any material effect on the earnings per share and net assets per share of Sunsuria for the financial year ending 30 September 2017.

This announcement is dated 21 September 2017.