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Reference is made to Sunsuria Berhad’s (“Sunsuria” or “Company”) previous announcement dated 15 February 2018 in respect of a Joint Development Agreement (“JDA” or “the Agreement”) entered into by Library Mall Development Sdn Bhd (“LMDSB”), its wholly-owned subsidiary, with CI Medini Sdn Bhd (“Leaseowner”) whereby LMDSB via its wholly-owned subsidiary, Dreamsphere Sdn Bhd (“DSB”) and the Leaseowner shall jointly carry out and undertake the development of a 6-storey stratified multi-storey shops known as “Pusat Perdagangan ION Akses” (“Development”) on all that piece of freehold land known as Plot C17 held under PTD201442 (HSD559037) in the Mukim of Pulai in the District of Johor Bahru in the State of Johor Darul Ta’zim (“Land”) and the disposal of the individual parcels of stratified multi-storey shops within the Development (collectively referred to as “the Project”) (“Announcement”). Unless otherwise stated, the definitions used herein shall have the same meaning as set out in the Announcement.

Subsequent to the Announcement, the Board of Directors wishes to inform that pursuant to Clause 2.1(a) of the JDA, DSB has procured the agreement of RHB Bank Berhad (“Bank”) via the Bank’s letter dated 13 April 2018 to serve as a panel financier for the Project for purposes of providing End-Financing to purchasers of the Project (referred to as “End-Financing”), subject to the share capital of DSB being increased to a minimum of Ringgit Malaysia Two Hundred and Fifty Thousand (RM250,000) only.

Accordingly, the Board of Directors wishes to announce that the JDA has become unconditional on 27 April 2018 in accordance with Clause 2.1 (d) of the JDA whereby both DSB and the Leaseowner have on even date confirmed in writing of their acceptability of the terms and conditions provided under the End-Financing.

This announcement is dated 27 April 2018.