The Board of Sunsuria wishes to announce that pursuant to Paragraph 9.19(5) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company has on [14 February 2018] entered into a Share Sale Agreement with Sunsuria City Sdn Bhd (“SCSB”), an indirect subsidiary of the Company with an effective interest of 99.99%, for Sunsuria to acquire from SCSB the entire issued shares of Library Mall Development Sdn Bhd (“LMDSB”), a direct wholly-owned subsidiary of SCSB, for a total cash consideration sum of RM2.00 (Ringgit Malaysia Two) only (“Internal Reorganisation”), details as set out in the table below:

Note:

* SCSB is 50%-owned by Sunsuria Gateway Sdn Bhd (“SGSB”) and Sunsuria Symphony Sdn Bhd (“SSSB”) respectively. SGSB is 99.99%-owned by Sunsuria whilst SSSB is a wholly-owned subsidiary of Sunsuria. Therefore, SCSB is an indirect subsidiary of Sunsuria with an effective interest of 99.99%.

The Internal Reorganisation has been completed as of today and LMDSB has become a direct wholly-owned subsidiary of Sunsuria.

The Company has today announced the completion of the acquisition of the following new subsidiary company by LMDSB:

The Internal Reorganisation is undertaken to streamline the business segments and group structure of the Sunsuria Group.

The Internal Reorganisation will not have any material effect on the earnings per share, net assets, gearing, share capital and substantial shareholders’ shareholding of the Sunsuria Group for the financial year ending 30 September 2018.

The Internal Reorganisation is not subject to the approval of the shareholders of Sunsuria and/or other relevant authorities.

None of the Directors and/or major shareholders of Sunsuria or any persons connected to them have any direct or indirect interest in the Internal Reorganisation.

The Board, having considered all aspects of the Internal Reorganisation, is of the opinion that the Internal Reorganisation is in the best interest of the Company.

This announcement is dated 14 February 2018.