At the last Annual General Meeting (“AGM”) held on 5 August 2020, the Company had obtained a mandate from its shareholders for the Company to enter into RRPTs with its related parties as set out in the circular to shareholders dated 3 July 2020. This mandate from the shareholders expired on 30 June 2021 in accordance with the provisions of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), which is the expiry of the period within which the 2021 AGM should have been convened. Therefore, the Company must observe the RRPTs announcement threshold under Paragraph 10.09(1)(a) of the MMLR.

The Board of Directors of SunCon wishes to announce that the aggregate value transacted of the RRPTs entered into between SunCon, its subsidiaries and jointly controlled entities (“SunCon Group”) with Sunway Berhad (“Sunway”), its subsidiaries and associated companies (“Sunway Group”) has exceeded the percentage ratio of 1% of SunCon Group’s net assets for the period from 1 July 2021 to 14 July 2021 based on the Audited Financial Statements for the financial year ended 31 December 2020.

Kindly refer to the attachement for further details.

This announcement is dated 15 July 2021.