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SUNWAY INFRASTRUCTURE BERHAD ("SUNINFRA") - MONTHLY ANNOUNCEMENT PURSUANT TO AMENDED PRACTICE NOTE NO.17/2005 ("AMENDED PN 17")

SUNWAY INFRASTRUCTURE BERHAD

Type

Announcement
SubjectSUNWAY INFRASTRUCTURE BERHAD ("SUNINFRA")
- MONTHLY ANNOUNCEMENT PURSUANT TO AMENDED PRACTICE NOTE NO.17/2005 ("AMENDED PN 17")

Contents :

We refer to the First Announcement dated 28 November 2006 in relation to the classification of SunInfra as an Affected Listed Issuer pursuant to the Amended PN 17 and the announcement dated 14 December 2007 in relation to the extension of time until 27 May 2008 ("the Extended Timeframe") granted to SunInfra by Bursa Malaysia Securities Berhad for submission of a Regularisation Plan to Securities Commission and other relevant authorities for approval subject to the completion of the following events by 31 January 2008 (“Condition Timeframe”):-


(i) Announcement of the acceptance by the holders of the Proposed Sukuk Mudharabah of an investor to be identified by Affin Investment Bank Berhad in relation to the offer to purchase the entire equity interest of Sunway Holdings Berhad (formerly known as Sunway Holdings Incorporated Berhad) (“Sunway”) in SunInfra of 65,090,802 shares representing approximately 36.16% of the entire issued and paid up share capital of SunInfra (“Acquisition of Sunway Stake”) and the next steps forward on the Regularisation Plan; and

    (ii) Signing of conditional sale and purchase agreement for the aforesaid Acquisition of Sunway Stake; and

    (iii) Convening of an extraordinary general meeting and procurement of SunInfra shareholders’ approval for the proposed cancellation of the letter of undertaking granted by Sunway to Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd (“SILK”) dated 8 August 2001 in relation to the provision of liquidity support for SILK under its existing Al-Bai’ Bithaman Ajil Islamic Debt Securities.

    The Board of Directors of SunInfra wishes to announce that SunInfra is formalising a comprehensive restructuring plan to regularise its financial condition. The announcement in respect of the events to be completed within the Condition Timeframe and details of the Regularisation Plan will be made upon finalisation.

    This announcement is dated 2 January 2008.


    Announcement Info

    Company NameSUNWAY INFRASTRUCTURE BERHAD  
    Stock Name SUNINFR    
    Date Announced2 Jan 2008  
    CategoryGeneral Announcement
    Reference NoSI-080102-5D983




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