(87564-X) DELIVERING VALUES Annual Report 2009 Cover Rationale Sunway City Berhad (“SunCity”) is a living vision of a wise leader, a persevering dreamer. The display of the Group’s 5 divisions symbolises SunCity’s success of delivering values to its stakeholders.

Vision A premier property company focusing on quality real estate development and investing in properties with attractive yields that augment its township development to generate excellent returns that maximise shareholders’ value.

Sunway City Berhad Group of Companies shall achieve the vision through the realisation of the following goals:

• Exceeding customers’ needs with superior and innovative products and services. • Building and developing a culture and environment that promote excellence and dedication in its stakeholders. • Utilising technology to enhance the Group’s competitive advantage in the marketplace.

Mission To create a conducive environment for living, working and leisure by transforming the existing landscape and/or landform into well-designed and visually stimulating structures that will greatly enhance its value. Announcement Of Quarterly Results

25 November 2008 Announcement of the unaudited consolidated results for the quarter Financial Calendar ended 30 September 2008

24 February 2009 Announcement of the unaudited Annual Report & consolidated results for the quarter ended 31 December 2008 Annual General Meetings

28 May 2009 1 June 2010 Announcement of the unaudited Date of notice of the 26th & 27th consolidated results for the quarter Annual General Meetings and date of ended 31 March 2009 issuance of the Annual Report 2009

24 August 2009 25 June 2010 Announcement of the unaudited Date of the 26th & 27th Annual consolidated results for the quarter General Meetings ended 30 June 2009

30 November 2009 Announcement of the unaudited consolidated results for the quarter ended 30 September 2009

25 February 2010 Announcement of the unaudited consolidated results for the quarter ended 31 December 2009 Results Highlight

Revenue (RM) Profit Before Tax2 (RM)

Interim Dividend 1.6 bil

1.3 bil 1.1 bil 2 October 2009 Announcement of the notice of 0.6 bil entitlement and payment of 8 sen Interim Dividend less 25% income tax 80% for the financial period ended 31 December 2009 22% 20091 2008 20091 2008

22 October 2009 1 The financial performance for the financial period ended 31 December 2009 Date of entitlement to covers an 18-month period. 8 sen Interim Dividend 2 Including assets revaluation surplus. less 25% income tax for the financial period ended 31 December 2009

20 November 2009 Date of payment of 8 sen Interim Dividend less 25% income tax for the financial period ended 31 December 2009 Contents Tableof 2 Sunway City Berhad Annual Report 2009 be the landmark ofSunwaybe thelandmark City. Integrated Resort The award-winning shoppingmall, continues to 3

Sunway City Corporate With Integrity 120 Corporate Profile 4 Corporate Governance Statement 122 SunCity in the Limelight 8 Terms of Reference of Executive Group Corporate Structure 10 Committee of the Board 129 Corporate Information 12 Terms of Reference of Corporate Philosophy 14 Nomination Committee 132 Sunway Sunway City Berhad Annual Report 2009 Chairman’s Statement 16 Terms of Reference of Calendar of Significant Events 22 Remuneration Committee 133 Awards and Accolades 28 Terms of Reference of Employees’ Share Option Scheme Committee 134 Performance Review 36 Terms of Reference of Risk 5-Year Financial Highlights 38 Management Committee 136 Segmental Performance 39 Audit Committee Report 137 Chief Financial Officer’s Review 40 Statement on Internal Control 142 Value Added Statement 46 Enterprise Risk Management 144 Share Performance 47 Additional Compliance Information 148 Investor Relations 150 Exemplary Leadership 48 Profile of Board of Directors 50 Financials 152 Profile of Management Team 56 Directors’ Report 154 Statement by Directors 162 Key Business Segments 62 Statutory Declaration 162 Property Development 66 Independent Auditors’ Report 163 Property Investment 74 Income Statements 165 Hospitality 78 Balance Sheets 166 Leisure 82 Statements of Changes in Equity 168 Healthcare 86 Cash Flow Statements 171 Notes to the Financial Statements 175 Corporate Responsibility 90 List of Properties 280 Marketplace 94 Recurrent Related Party Transactions 288 Workplace 98 Environment 108 Shareholdings’ Information Community 114 Directors’ Interests in Shares, Options over Ordinary Shares and Warrants 289 Analysis of Shareholdings 290 Analysis of Warrantholdings 292

Annual General Meetings Notice of 26th Annual General Meeting 294 Notice of 27th Annual General Meeting 296 Form of Proxy for 26th Annual General Meeting Form of Proxy for 27th Annual General Meeting Corporate Profile 4 Sunway City Berhad Annual Report 2009 with a GDV of RM12.7 billion. RM12.7 of GDV a with acres 1,458 of landbank unlaunched an has Group the 2010, April 30 at As billion. RM9 of (“GDV”) value developmentgross a with properties 17,000 overdelivered has division Development Property The developer.master community Group’sleading a as status the solidify to helped customers. has This its for value and quality unrivalled of services and products deliver to steps takes constantly overseas,SunCity life’and in communities for a createto quest its ‘better In properties. commercial and residential quality and innovative developing in experience vast has developer,Group the property a As DevelopmentDivision Property High-Growth conglomerate. estate realintegrated an as further even evolve to aspiration and management business solid its to testament a is 1996 July 8 on Exchange) Stock Lumpur Kuala of Board Main as known (formerly Malaysia Bursa of Market Main the on listing successful SunCity’s 1996. April 2 on Berhad City Sunwayname, present its assumed and 1995 July 24 on company limited public a to converted was It 1987. July 25 on Bhd Sdn Sunway Bandar and 1986 December 1 on Bhd Sdn Corporation Development Jasa Sri to name its changed subsequently and Bhd Sdn Jasa Sri as 1982 July 13 on Malaysia in company limited private a as incorporated was SunCity properties. investment high-yielding from income of base stable a and division Development Property Both Worlds’of ‘Best high-growth a – the enjoy to Group the enabled has this result, a As divisions. Investment Property and Development Property both of consists and conglomerate property Malaysian integrated and dynamic a is (“SunCity”) Berhad City Sunway Living within the City’the concept. within Living unique the expresses township ‘Resort resort well-landscaped pristine, the wasteland, of acresTransformed 800 from Sunway.Bandar as known City,popularly Resort Integrated Sunway billion RM6.9 the is SunCity for jewel crowning The High-Yielding Property metropolis. lakeside international an be will which project Quay South Sunway billion RM5.2 the attraction, iconic next SunCity’s of development the by complemented further be soon will City Resort Integrated Sunway internationally-acclaimed The facilities. education and healthcare entertainment; and leisure hospitality; commercial; and retail in finest the with equipped is township the as priority top a livability make to Group’sthe reflects also commitment It businesses like Sunway Healthy Lifestyle,Healthy Sunway like businesses other as of wellWorld , as Lost and Lagoon Sunway the namely parks, award-winningtheme 2 manages and owns Leisuredivision SunCity’s Division Leisure services. affiliation marketing hotel as well as management franchise services, travel services, technical tohotels, 3-star and 4 suites, and townhouses serviced villas, luxurious facilities, exhibition and meeting convention, world-class with hotels retreat,5-star spa and collection luxury a from ranges services and products hospitality of portfolio international guestrooms.Its 3,400 over comprising Retreat; Hotsprings and Banjaran The Resorts & Hotels Allson Resorts, & Hotels Sunway - names brand 3 encompassing resorts and hotels of group a manages and owns division Hospitality The Division Hospitality College. University Sunway and Campus Centre,Monash Sunway TowerSpecialty Giza Sunway 2, Sunway, Menara Mall, Shopping Carnival SunwayPyramid, Sunway include which properties commercial of feetsquare (“NLA“)million areas 4.86 lettable of net total a manages and Currently,owns it region. the in player property commercial and investment international-class an as itself establishing properties healthcare and entertainment, and leisure commercial,hospitality,and retail quality of portfolio diversified truly a holds division Investment Property SunCity’s InvestmentDivision The glowing Hotel domesofSunway &Spa. Resort 5 Sunway City Berhad Annual Report 2009 Corporate Profile 6 Sunway City Berhad Annual Report 2009 of Accredited Advertising Agencies AccreditedAdvertising of Association the and Interbrand by Brands Malaysia’sthe won SunCity Most Valuable 2009, and 2008 in years consecutive Forassociations.2 overseas and local both byrecognised widely been has brand Sunway the of strength The and RecognisedWell-known BrandA partners. prestigious other and Government) (PerakState ValleyKinta Resort Government), State ( Selangor Negeri Kemajuan Perbadanan(Capitaland’s subsidiary), ProvidentEmployeesFund, Australand FinanceHouse, Kuwait including foreignpartners and local strategic various attracted also has SunCity GIC, from Apart Spa. & Hotel Resort Sunway and Pyramid Sunway in stake 48% a has Group.Additionally,the GIC in stake 21% investeda has (“GIC”) Ltd Pte Corporation Investment Singapore of Government the investment, property and development property both in expertise recordand track established SunCity’s on Based StrategicLong-termPartner Strong services. emergency 24-hour and programmewellness and health care, specialty inpatient and outpatient fortechnologies medical and facilities includes which services, medical of range comprehensive a offers It bays. parking 750 with park car multi-storey a and theatres operation 12 suites, consultation 100 than morebeds, 335 of total a with nation the in centrescare medical private foremostthe of one is SunMed hospital. private accredited (MSQH) Health in Quality for Society Malaysian and ISO15189 MS 9001:2008, ISO an is SunMed division. Healthcare the under services healthcare quality Group’sof providerthe a as position to adds (“SunMed”) Centre Medical Sunway Division Healthcare enclaves.and hills limestone of edge the at situated is that park theme of WorldcomprehensiveTambun a is Lost Malaysia. in attraction multi-park Sunwayiconic an Travel.is Lagoon Sunway and VacationInternational Club Sunway today’s property landscape. today’sproperty in customers valued and discerning its of needs the surpass will that award-winningprojects and creative innovative, delivering continue to committed is SunCity forward, Moving Delivering Committedto Values (MICPA).AccountantsPublic Certified of Institute Malaysian and (MIA) Accountants of Institute Malaysian Malaysia, Bursa bypresented jointly was award The reporting. corporate in standards high its of testament clear a is and reporting corporate in excellence of recognition in awardprestigious Malaysia’sis NACRA Malaysia. most Bahasa in Report Annual Best Awardfor Silver the clinched also SunCity 2009, In 2009. to 2007 from category and HotelsTrustsProperties, - Market Main the under Awards categorised Excellence Industry the foryear consecutive third the Awards(“NACRA”) for Report Corporate Annual National the received has SunCity regard,this In stakeholders. its to reporting when transparency and accountability in emphasis high places and seriously citizen corporate responsible a as role its views also company, listed SunCity public a As Governance TowardsCorporateExcellencein (MSA). Association Specialists Media and (MAA)Association Advertisers Malaysian (BAM), Malaysia of Association Branding the by supported and (MATRADE) Corporation Development External Trade Malaysia by endorsed country the in awards brand only the Awardsare Brand 2010. Putra The Awards Brand Putra inaugural the at awarded category property the Awardin Silver the won it as reaffirmed further is performance brand excellentSunCity’s equity.high with brand a becoming in success SunCity’s affirms years consecutive 2 forawards Foundation.the Brands both Winning PacificAsia Awards by Conglomerate BrandLaureate the and (4As) Malaysia golden triangle. golden Lumpur’sKuala of heart the in Sunway Towertall standing - 2 7 Profile Corporate Sunway City Berhad Annual Report 2009 the Limelight the SunCity in SunCity 8 Sunway City Berhad Annual Report 2009 9 Limelight the in SunCity Sunway City Berhad Annual Report 2009 Corporate Structure Group 10

Sunway City Berhad Annual Report 2009 Limited ** Limited (China) Estate Real Sunway ** LimitedPrivate International Opus Sunway ** Bhd Sdn Homes SPK Sunway * Ltd Development City Cana Sunway LimitedPrivate India City Sunway Bhd Sdn Melawati Sunway Bhd Sdn Properties City Sunway Bhd Sdn Grand Sunway Bhd Sdn Gambier Bukit Sunway Bhd Sdn Quay South Sunway Bhd Sdn CrestSunway Sunway TownhouseBhd Sdn Sunway Bhd Tunas Sdn Bhd Sdn Kinrara Sunway Bhd (Penang)Sdn City Sunway Bhd Sdn Putra Rahman Sunway Bhd Sdn (Ipoh) City Sunway Bhd Sdn MonterezSunway Bhd Sdn Semenyih Sunway Bhd Sdn Kiara D’Mont Sunway Bhd Sdn Damansara Sunway Development Property ** * The Groupcompanies. Corporate Structureexcludes andnon-operating dormant Notes: Jointly controlledJointly entities Associate companies Sdn Bhd Sdn Residence Monash-U Sunway Sunway TowerBhd Sdn 2 Sunway TowerBhd Sdn 1 Bhd Sdn Destiny Stellar Bhd Sdn Sunway Menara Bhd Sdn Resort Sunway Kinta Bhd Sdn Residence Sunway Bhd Sdn Success PlatinumSunway Bhd Sdn (M) PeluangKlasik Bhd Sdn Carnival Sunway Bhd Sdn Pyramid Sunway Investment Property Sunway Hotel Phnom PenhLtd Phnom HotelSunway Bhd Sdn Jaya) (Seberang HotelSunway Bhd (Penang)Sdn HotelSunway Bhd Sdn Hotel Resort Sunway Group Ltd Holdings Hospitality Sunway Hospitality Pyramid Bowl Sdn Bhd * Bhd Sdn Bowl Pyramid Bhd Sdn LeisureSunwayServices Bhd Lagoon SunwayWater ParkSdn Bhd Sdn Lifestyle HealthySunway Berhad Club VacationInternational Sunway Berhad Club Lagoon Sunway Sunway TravelBhd Sdn Bhd Sdn Lagoon Sunway Leisure

SunMed Clinics Sdn Bhd Sdn Clinics SunMed Bhd Sdn SunMed@Home Berhad Centre Medical Sunway Healthcare 11 Structure Corporate Group Sunway City Berhad Annual Report 2009 Information Corporate 12

Sunway City Berhad Annual Report 2009 Dr Jeffrey Cheah FookLing,Cheah Jeffrey Dr Tanto (Alternate Dato’ Seri Sri Hashim M Razman Datuk Evan Cheah Evan YeanShin Guan Swe Lim Sang Hon Ho Ngeow Voon Yean Siong) Siew Ngian Tanto (Alternate PohChan Siong Siew Ngian Datin Paduka Low Siew Moi LowSiew Paduka Datin TanSiak Tee Teo TongHow Non-ExecutiveDirectors Independent TanDato’ Sri Hashim Ir Mohd Talha Haji Bin Non-ExecutiveDirector Independent Senior Guan Swe Lim Non-ExecutiveDirector Non-Independent Dato’Ng Lip Tiong ExecutiveDirector Non-Independent Malaysia Development, Property – Sang Hon Ho Ngeow Voon Investment Yean Property – International Development, Property – Siong Siew Ngian ExecutiveDirectors Non-Independent Directors, Managing Hashim M Razman Datuk ExecutiveDirector Non-Independent ExecutiveChairman, Deputy TanDato’ FookSri Ling,Cheah Jeffrey Dr Seri ExecutiveDirector Non-Independent ExecutiveChairman, Directors Of Board Audit CommitteeAudit TanDato’ FookSri Ling,Cheah Jeffrey Dr Seri (Exco) ExecutiveBoardCommittee Of The TanSiak Tee Teo TongHow TanDato’ Sri (Chairman) Hashim Ir Mohd Talha Haji Bin (Resigned on 20 May 2010) May 20 on (Resigned AO ) AO AO (Chairman) (Appointed on 19 March 2010) March 19 on (Appointed Ngeow Voon Yean Siong Siew Ngian Hashim M Razman Datuk (Chairman) Fax No: (603) 5639 9507 5639 Fax(603) No: 8889 5639 Tel(603) : No Malaysia Ehsan, Darul Selangor Sunway,PetalingJaya Bandar 46150 Sunway,Lagoon TimurJalan Menara 16, Level Office Registered 7017562) (MAICSA Choo Suan Lee 7002988) (MAICSATanAun Kim 5601) (MIA Cheng Seok Cheah Susan (Dr) Seri Datin Sri Puan CompanySecretaries TanPohChan Lee WengKeng YuenWahKam Ngeow Voon Yean (Chairman) Siong Siew Ngian CommitteeManagement Risk TanDato’ FookSri Ling,Cheah Jeffrey Dr Seri Committee Employees’ Scheme Option Share TanDato’ FookSri Ling,Cheah Jeffrey Dr Seri Teo TongHow (Chairman) TanDato’ Sri Hashim Ir Mohd Talha Haji Bin CommitteeRemuneration TanSiak Tee Teo TongHow (Chairman) TanDato’ Sri Hashim Ir Mohd Talha Haji Bin CommitteeNomination AO AO

OCBC Bank (Malaysia) Berhad (Malaysia) Bank OCBC Berhad Bank Affin Berhad Bank CIMB Berhad Bank RHB Berhad Banking Malayan Berhad Malaysia Bank HSBC Bankers Principal Koh Philip & Mah-Kamariyah Co.& Lingam David Solicitors Accountants Chartered & YoungErnst Auditors FaxNo TelNo Malaysia Ehsan, Darul Selangor Sunway,PetalingJaya Bandar 46150 Sunway,Lagoon TimurJalan Menara 16, Level Bhd Sdn Management Sunway RegistrarShare TelNo Email InvestorRelations www.sunwaycity.com WebsiteAddress Berhad Securities Malaysia Bursa of Market Main Listing ExchangeStock : : (603) 5639 9289 5639 (603) [email protected] : : (603) 5639 9507 5639 (603) 8889 5639 (603) (50661-X) 13 Information Corporate Sunway City Berhad Annual Report 2009 Philosophy Corporate 14

Sunway City Berhad Annual Report 2009 the expectations of its stakeholders. its of expectations the satisfying tocommitted is Berhad Sunway City and cost. and quality,delivery improvementsin continuous through satisfaction customer of levels increasing ever- achieving to commitment our share who suppliers with partnerships beneficial mutually maintain and develop chain. Wedevelopment property our of part vital a are Suppliers SUPPLIERS training. continuous through development personal for opportunities provide employees,and among respect mutual and creativity initiative, measure. and Wetrust, foster system effective an by supported improvementcontinuous and involvementfocus,total customer encompassing management quality total forasset. Westrive valuable most our as people Wesee EMPLOYEES needs. implied and changing their satisfy to opportunity every seeking satisfaction, their measure Weconstantly products. quality and service superior providing by customers our of loyalty the earn to Weaim CUSTOMERS and accountability.and transparency through governance corporate our in confidence them give and return, attractive term long- a investments,them provide shareholders’our Weprotect objectives. strategic set and practice best for improvement,benchmark forprocesses examine problems,prevent to ways on technology.improve Weconstantly current of use optimal employing manner productive and efficient most the in functions economic our all perform to Westrive SHAREHOLDERS citizenship. good practise and environment the contributions. Werespect social and intellectual economic, our through value full return to Westrive NATIONCOMMUNITY AND SunCity is committedSunCity inproviding quality, safe livingcondition andcomfortable to ourcustomers. 15 Sunway City Berhad Annual Report 2009 Chairman’s Statement 16

Sunway City Berhad Annual Report 2009 Property Investment division. Property base ofincomefrom itshigh-yielding divisionandastable Development it enjoys ahigh-growth Property Possessing auniquebusinessmodel, conglomerate. property Malaysian isareputableSunCity andintegrated ofBoth Best Worlds marketplace. inthe capitalise onopportunities existing businessoperationsandswiftly strategies to improvethinking our the Group’s to execute ability forward- Clearly, thisisastrong testament of increase thevalueofourcore assets. business modelthatenabledusto toattributed oursolidanddynamic notaneasyfeat.clearly This wasgreatly major businesssegments whichwas sizeableachieving growth across all unscathed, butwe have succeededin this challenging relatively period that notonlyhave we emerged from However, Iamproud to mention inEuropecountries andAsia. United States which hadaffected other originatedthe financialcrisis from the global economicconditionsdueto 2009underchallengingfinancial period beganthe to mentionthatSunCity like to date. Onthispremise, Iwould first achievements andkey performance encapsulates theGroup’s positive which to you ourannualreport iswithgreat pleasureIt thatIpresent Dear Shareholders of 47sen. represents acore pershare earnings 2009which ended 31December for the18monthsfinancialperiod achieved acore PATMI ofRM225 million SunCity operational performance, financial year. Excluding thenon-core from RM262millionintheprevious million represented agrowth of37% annualised basis, thePATMI ofRM359 (“PATMI”) ofRM538million.Onan interestprofit taxandminority after a Group revenue ofRM1.6billionand recorded 2009.SunCity 31 December ended 18 monthsfinancialperiod for the laudable performance achieved yet anotheryearSunCity of Despite difficulteconomicconditions, Laudable Performance creation for ourstakeholders. sustainable growth aswell asvalue focused onourgoalto achieve essence, ithasallowed usto stay well. the economicturbulence In leverage onourstrengths to weather The 2divisions have helpedus 31 December 2009. 31 December per share for ended thefinancialperiod the total gross dividendsto 13sen 2009,thiswould31 December bring ended respect ofthefinancialperiod 8 senpershare that waspaidin Together dividendof withtheinterim 2009. ended31December period share ofRM1.00each for thefinancial to propose afinaldividend of5senper theDirectors areperformance, pleased As aresult ofthisstrong financial Dividend Mark certification. certification. Mark condominiumsalsoreceived theBCAGreen luxury Sunway Vivaldi andNautica,Sunway Quay South award. addition,Sunway In ChallisDamansara, development to inMalaysia receive thiscoveted Palazzio development, thefirsthigh-rise residential (GreenScheme Building Design) withitsSunway (“BCA”) Authority and Construction Green Mark –Provisional)Development inSingapore’s Building prestigious AwardResidential Gold (High-Rise divisiongarnered Development The the Property theenvironment.to preserve innovative thatincorporate greenproperties features the Group placed more emphasisinconstructing positive capital appreciation to ourcustomers, with properties additionto deliveringquality In Investment divisions. andProperty Development achieved numerous milestones inbothitsProperty underreview, theperiod During theGroup is the themefor thisAnnualReport ‘Delivering Values’. years to come. As such,Iampleasedto mentionthat investment assetswillleadto revenue recurring inthe to theGroup’s profits. We also foresee thatthese investments have generated excellent contributions asseveral major one for anditsstakeholders SunCity hasbeenatruly The 2009financialperiod rewarding Delivering Values SunCity’s newest eco-wellness offering, RetreatThe Banjaran Hotsprings in Ipoh, Tambun, . Petaling Jaya. needs ofsurrounding communitiesinDamansaraand to cater to theshopping, leisure andentertainment is anintegrated retail specialty centre thatisdesigned At 160,000square feet ofgross floorarea, Sunway Giza centre 2009. specialty inDecember neighbourhood of Sunway GizainSunway Damansara,a6.17-acre highlight wasthecompletion Another important parcel oflandinthe nearfuture. the development ofSunway Tower 1ontheadjoining 20%. With theappreciation, positive we with are very 2007, Sunway Tower 2’s valuehasincreased by almost 2010.Sincewe acquired thebuildingin in January Sunway Tower as 2(formerlyknown Wisma Denmark) The Group’s Property Investment division also launched cementing itsstatusasapopularretail destination. retail andinternational in boththeMalaysian scenes, 2 years, Sunway Pyramidhaswon numerous awards rate.also enjoyed afulloccupancy Within of aperiod andlocalvisitorsinternational to Sunway Pyramidand 2007,we witnessedastrongOctober patronage of completion ofSunway Pyramid’s expansionin For Investment division,sincethe theProperty 17 Statement Chairman’s Sunway City Berhad Annual Report 2009 Chairman’s Statement 18

Sunway City Berhad Annual Report 2009 the medical tourism industry.the medicaltourism thegovernment’ssupporting planofexpanding andwillplay abiggerrole in medical industry key player has reaffirmed inthe itsstandingasa 2009. With thisexpansion,Sunway Centre Medical commenced in2006wascompleted inDecember The Sunway Centre’s Medical expansionwhich audience ofover 600millionhouseholdsglobally. broadcasted channels onoverto an 44different MTV 15,000visitors thatattracted andwas in Malaysia Worldevents whichincludetheMTV StageLIVE has beenthevenue ofchoicefor many international Asia’s Awards BestAttraction for 3consecutive years. It proud to mentionthatSunway Lagoonhaswon the mapasatopthe world leisure destination. We are also year. Furthermore, have bothparks on placedMalaysia strength andenjoyed strong visitorship throughout the haveBoth themeparks grown from strength to offerings atSunway Lagoonand Lost ofWorld Tambun. The Leisure divisioncontinuedto strengthen its Spa asoneofAsia’s Top retreats. 10spiritual forest has alsobeennamedby theAsia intheworld. It andissurrounded byhotsprings oneoftheoldestrain of towering hills, builtaround thenaturalenclaves of This spaissituated ona56-acre fringing acluster valley destinationforas anew thewellness industry. tourism role inpromotingspa willplay Malaysia animportant wellness retreat which consists of 25 villas and a holistic Tambun, Ipoh. We are convinced thatthiseco-luxury with theopeningof RetreatThe in BanjaranHotsprings divisionalsoaddedanothermilestone The Hospitality Launch ofSunway Tower 2by theMayor ofKuala Lumpur. and sustainable living. and fitness, theenvironment, personal development whichare focused onthepillarsofhealth and services thatdesires sector goods amarket used to describe projects. LOHAS thatis term a marketplace isactually (“LOHAS”) development philosophy initsproperty embracing theLifestyles ofHealthand Sustainability toI would announcethattheGroup also like hasbeen hub.vibrant community value from aparcel oflandandtransforming itinto a andcompetitive advantageinextracting expertise townships. These 3townships represent theGroup’s but alsofor andSunway Sunway Ipoh Damansara City City,development oftheSunway Integrated Resort To date, we notonlyclaimcredit for thethriving of thetownship. value theimageandproperty hasuplifted This inturn healthcare, leisure andeducationfacilitiesavailable. oflifequality for itsresidents by asevidenced the componentsto enhancethe hasvarious City Resort I amalsoproud to addthattheSunway Integrated into aonce forgotten andabandonedminingland. we faced, we backfloraandfauna successfullyinjected to mentionthatdespite thechallenges I amheartened and shareholders alike. to consistentlyefforts deliver value to itscustomers testimonystill alingering oftheGroup’s continuous now is theimpressive City Sunway Integrated Resort transformation ofthe800-acre wasteland into whatis developer seriously. ofthesuccessful The story itsrolemaster views asaleadingcommunity SunCity Leading Community Master Developer across allsectors. rate remainsMalaysia positive withastrong take-up market. outlookin Thedampen theproperty property wouldby 25basispoints,thatthehike itisunlikely hasraisedinterestAlthough BankNegaraMalaysia rates financial crisis. hasrecoveredmarket from oftheglobal theimpact better thingsahead. Additionally, theresidential property recovery.market This shouldheraldthebeginning of economic growth for 2010inanticipationoftheglobal 2009, ourgovernment hasforecasted a4.5%to 5% fromof1.7%in Malaysia, aneconomiccontraction In healthier pace. the globaleconomy isnow projected to grow ata andstrongerBased ontheseefforts consumerdemand, plan. governments onaglobalrecovery to embark andvarious authorities initiatives by globalmonetary conditionsfor 2010. market This isaresult ofthestimulus we are now seeinggradual improvements ontheoverall challenges from bothlocallyandabroad. Fortunately, As mentionedearlier, theyear 2009wasfilledwith Market Outlook our valuedcustomers. future thelives projectswiththeaimofenriching we willcontinueto infusetheLOHAS philosophy inour designfriendly andlushgreen surroundings. As such, features, andenvironmentally-security acontemporary for criteria homebuyersThe are key comprehensive increasingly sophisticated intheirchoiceofproperties. We are fullyaware thathomebuyers are becoming REIT to unlock unlock to REIT Value Regionalisation Expansion Ac Landbank quisition integrated real estate conglomerate. will placeusinauniquepositionofbeingMalaysia’s first division. Development our Property The REITstrategy the proceeds for investment andboost new properties to re-invest We(“REIT”). seetheREITasanopportunity theminto Estateby aReal Investment injecting Trust prepared to unlockthevalueoftheseinvestment assets ofourgrowthvalue chain.As strategy, part we are now timetogood yields, move theright itisclearly upthe ofourinvestmentWith assetsachieving thevastmajority development business. to fundourhigh-growth property activities investmentstable incomegenerated from ourproperty business modelhasenabledusto leverage onthe As highlighted earlier, SunCity’s “Best ofBoth Worlds” Moving into Phase ofGrowth theNext (as forecasted by theAsian Bank). Development domestic productgrowth of9.6%and8.2%respectively both of the countries’ robust economic outlook at a gross complemented by isfurther inChinaandIndia further front,On theinternational SunCity’s strategy to expand help steer thegrowth ofMalaysia’s economy. Prime Dato’ Minister Najib Sri Tun willalso AbdulRazak thatwasannouncedbyThe Economic our New Model In Building vestment Assets New SunCity’s dynamicgrowth strategy. F C irst Integrated Integrated irst onglomerate Real Estate Real

19 Statement Chairman’s Sunway City Berhad Annual Report 2009 Chairman’s Statement 20

Sunway City Berhad Annual Report 2009 shopping mall management contract with shopping mallmanagementcontract Yitian addition,we alsohavein Zhongshan,China.In a Co. Ltd to DiamondHotel managetheGolden plans. We have beenappointed by (China) Perfect isalsoontrackwithitsregional expansion Resorts, division,SunwayHotels & Hospitality International division,our Development thantheProperty Other division. Development in growing Property anddeveloping theInternational Mr Ngian willprovideconfident that value enormous sector,astute understanding oftheproperty Iam conglomerate. With hiswealthand ofexperience and growing theGroup into aglobalproperty taskoffocusing important onthevery in taking especially grateful Ngian for Siong’s Siew Mr efforts managersto leadtheteamexperienced forward. Iam to havescene, competent and itisequally important To property ourpositionintheinternational fortify RM5 billion. has anestimated gross development valueof toexpected bedeveloped over of5years aperiod and kind projectinChina.it thefirstofits This projectis theLOHAS andincorporate Eco-City concept,making willdevelop 102acresSunCity oflandwithin Tianjin Kong, Taiwan, Japan,Singapore andChina. players from Hong property leading international as we are developer theonlyMalaysian amongstother ofourstrong affirmation track recordThis isafurther Collaboration Agreement 2010. withSSTECon30April projectinChina. TianjinWe Eco-City have signed a intheir30square kilometres to participate (“SSTEC”) Co Investment andDevelopment Ltd Tianjin Eco-City We are proud to have by beenselected Sino-Singapore development projects. property andChina,withnew countries, namelyIndia expanded itsreach in2oftheworld’s mostpopulous has thisrespect,SunCity and commercial In properties. residential inbuildingquality andexpertise knowledge by consolidatingitsyearsin theoverseas of market intends toSunCity replicate itssuccessinMalaysia overseas projectswithin aspanof5years. aimsto achieve 50%ofitsrevenueSunCity from developer intheregion.a top property To thisend, for to spread SunCity itswingsto theregion andbe 7 consecutive years. As such,itisanaturalprogression 10 of The Edge Top Award Developers Property listfor Our solidtrackrecord hasledusto remain inthetop Expanding Frontiers well as share our expertise and knowledge globally. andknowledge well asshare ourexpertise divisionsas Investment andHospitality our Property expand to further This provides uswithanopportunity tenanted brands. localandinternational withvarious mall whichwaslaunchedinSeptember 2008isfully Holiday Plaza inShenzhen,China. The shopping retail opportunities of Sunway Integrated Resort City. ofSunwayretail Integrated Resort opportunities developments would improve thecommercial and City.in Sunway Bothproposed Integrated Resort roads building located the2mainarterial between adjacent to Sunway Pyramid, anda25-storey office bays with officeand retailelementsand1,027parking including a28-storey mixed usecommercial building high-yielding investment assetsto itsportfolio from this, theGroupApart willalsobeaddingmore greaterreview potential landbanksto extract value. locations,landbanks inattractive we willcontinueto Aligned withtheGroup’s strategy to acquire Lumpur South. ofKuala development issetto transform theskyline from theKualaLumpur centre. city This exciting land, itisstrategically located within5kilometres shopping mall. Spread over 22acres freehold ofprime businesssuites,apartments, retail spacesandalifestyle vibrant integrated service development comprising thepipelineisSunwayIn VeloCity, aRM1.5billion within aweek ofitslaunch. response with80%ofitsunitssold overwhelming Garden Homes. The townhouse offering received with thesuccessfullaunchofSunway SPK3Harmoni continuedto strengthenSunCity itslocalpresence Strengthening ourLocal Presence value creation for buyers. quality,performance, innovation, creativityand players offinancial interms best property tool that ranks thecountry’s is abenchmarking Award. This isaprestigious honourasthisaward was awarded The Edge’s Top Developers Property For theseventh consecutive year, theGroup andachievements inthemarketplace. contributions awards andaccoladesthatrecognisesimportant our hasbeenhonouredof SunCity withaselection I amdelighted to announcethatonceagain, Awards andAccolades transparency andaccountability.transparency forhigh standard reporting greater ofcorporate this awardoftheGroup’s isanacknowledgement of excellence Acquiring reporting. inannual corporate NACRA isthenation’s foremost award inrecognition Award for inBahasaMalaysia’.‘Best AnnualReport The Category’, theGroup alsotook homeitsfirstSilver Excellence Awards inthe ‘Properties, Hotels and Trusts from winningitsthird consecutiveApart Industry AwardsNational AnnualCorporate(“NACRA”). Report bagged2awardsOn top ofthat,SunCity inthe SpecialistsAssociationMedia (MSA). Association(BAM), (MAA) Advertisers Malaysian and by theBrandingAssociation ofMalaysia and supported External Trade (MATRADE) Corporation Development endorsedby theMalaysia awards inthecountry 2010. The Putra BrandAwards are theonlybrand awarded attheinauguralPutracategory BrandAwards reaffirmed asit wontheSilver Award inthe property isfurther SunCity’s excellent brandperformance brands.Malaysian exercise ofhighperforming benchmarking MMVBisabrandvaluationand with Interbrand. AgenciesAdvertising (4As) Malaysia incollaboration by theAssociationBrands (“MMVB”) ofAccredited been recognised asMalaysia’s Most Valuable Also, for thethird consecutive year, we have this award honoursthetop 30consumer brands inMalaysia. Winning theMalaysia’s Most Valuable Brands for thethird consecutive year, 30 April 2010 30 April Executive Chairman Tan SriDato’ Jeffrey Dr Seri Cheah Fook Ling, inSunCity. continuous support andshareholdersgovernment authorities for your including ourcustomers, businessassociates, bankers, toI would thankourvaluedstakeholders; alsolike to ensure thatwe stay aheadinthemarketplace. willcontinuetoand Ihopethatthey share theirideas and dedicationto grow isindeedadmirable SunCity SunCity’s managementandstaff. Their tireless efforts thehard of andcontributions to work acknowledge Before Iconclude, thisopportunity to Iwould take like Appreciation AO 21 Statement Chairman’s Sunway City Berhad Annual Report 2009 of Significant of Calendar Events 22

Sunway City Berhad Annual Report 2009 Sunway Tower demands 2meetsthestringent Lumpur’s Golden Triangle by launchingitsfirst of multinational corporations andembassies of multinationalcorporations (formerly known as (formerlyknown After Wisma Denmark). the acquisition of Wisma Denmark, SunCity the acquisitionof SunCity Wisma Denmark, within theKualaLumpur’s Golden Triangle. commercial office tower, Sunway Tower 2 spent RM16millionfor the refurbishment SunCity has marked itsnameintheKuala hasmarked SunCity exercise. A33-storey office prime tower, Launch ofFirst Commercial SunCity andSSTECsigned theCollaborationSunCity Agreement to develop 102 has an estimated gross development value (“GDV”) ofRM5billionandis has anestimated gross development value(“GDV”) Sustainability (“LOHAS”)Sustainability concept,whichisthefirstinChina. This project acres withinthe basedontheLifestyles ofHealthand Tianjin Eco-City Office inKuala Lumpur Office Sino-Singapore Sino-Singapore Investment and Tianjin Eco-City Signing ofCollaboration Agreement with 15 Jan2010 Development Co.Development Ltd (“SSTEC”) expected toexpected bedeveloped over 5years. managing itsretail properties. in confidence inSunCity’s expertise demonstrates theretailers’clearly rate.achieved fulloccupancy This of 100,000square feet, themallhas New Year. With anetlettablearea Sunway Chinese Damansaraduring mall, Sunway Centre GizaSpecialty in openingfor retaila soft itsfourth investment had SunCity properties, owning andmanaging retail Tapping inbuilding, into its expertise Fourth Mall Retail OpeningofSunCity’s Soft 15 Feb 2010 30 Apr2010 staff. Second, clinicwillalsoserve thenew population ofSunway College University education/teaching andclinicalresearch and Monash University Sunway University and Monash Campus. being to provide amore convenient and primary care services. care services. Thisprimary clinicwasset accessible clinicfor theSunway Group’s up forone 3mainreasons, theprimary Opening of SunMed Clinicat Opening ofSunMed Sunway Centre’s Medical staffhealth/ the needsofburgeoning student Lastly, hasalsobeen theclinicfacility SunMed Clinic is an extension ofthe Clinicisanextension SunMed designed withtheneedsofmedical Assistant ofPolice. Superintendant of RM500,000. The centre ismannedby 18personnelandledby an launchedthecentre atacost whichwasbuiltby SunCity AbuBakar Khalid annually. City the Sunway policechiefDCPDatuk Selangor Integrated Resort cater to theestimated 30millionvisitors, ofwhich65%are whovisit tourists Pyramid. The centre, situated atthemainentranceofshoppingmall, will launchedthestate’sSunCity first Centre Tourist atSunwayService Police Launch ofSelangor’s First Tourist Centre Police Service 2009 17 Dec Sunway Pyramid 11 Nov 2009 in mind. select aunitoftheir choice. select forarranged guests to thepriviledged wasspecially the modelapartments previewpress of members. Apriority including potential customers and from more than500stakeholders saw anenthusiasticparticipation It launch. haditssoft in Hyderabad GDV) RM1.5billionin Opus Grand(worth India project,SunwaySunCity’s first Opus Grand LaunchofSunwaySoft 2009 14 Oct 23 Sunway City Berhad Annual Report 2009 Events Significant of Calendar of Significant of Calendar Events 24

Sunway City Berhad Annual Report 2009 Parliament for Tambun, Dato’ AhmadHusniMohamad Seri SunCity contributed RM1.5millionto contributed buildthe750-metreSunCity from the North South Expressway to Ipoh city centre Expressway South city via tofrom Ipoh theNorth Jalan Tambun, avoid willhelpmotorists thepeakperiod Hanadzlah, the service road whichis thenearest exit Hanadzlah, theservice by Finance theSecond of andalsoMember Minister service road to from Ipoh service Tambun. opened Officially Lost World Petting Zoo hasbeencreated atacost Covering anarea of80,000square feet ,aunique jungle, againstabackdropoflimestone hills. The their new attraction, attraction, their new The Lost World Petting Zoo. petting zoo hasbeencreated withinthe natural congestion along Jalan Sultan Azlan ShahUtara. congestion alongJalanSultanAzlan Launch ofLost World Petting Zoo Lost World of Tambun isproud to announce SunCity contributes RM1.5million contributes SunCity of RM6millionandhosts4,000animals. to build service road to buildservice 24 Aug 2009 29 Aug 2009 leisure and entertainment destination. leisure andentertainment andSunwayMalaysia mapasatop on theworld over 600millionhouseholds. This event hasplaced channels inover to anaudienceof 150territories wasbroadcasted on44different It Malaysia. MTV World theMTV music fansduring StageLIVEin Sunway Lagoonplayed hostto more than15,000 atSunwayMalaysia Lagoon WorldMTV StageLIVEin 28 Aug 2009 and Sunway Centre Medical collaborate cancer research centre. The strategic collaboration will soonprovide teaching attachments for MUSC teaching school at SunMed thatwillalsohousea teaching school atSunMed Memorandum ofUnderstandingto setupanew Memorandum and Sunway Centre signed Medical a (“SunMed”) Monash University Sunway University Monash Campus Monash University Sunway Campus (“MUSC”) Sunway University Monash Campus (“MUSC”) to teaching setupnew hospital medical studentsinarangeofdisciplines. 23 Jun2009 Programme’. ‘Sunway Green Fair –ASustainableLiving exhibitionatSunway3-day Pyramidthemed, pledged itscommitmentby organising a oftheglobalcampaign, SunCity support andclimate change.global warming In to fightagainst joinedintheeffort SunCity Hour2009 Earth 24 Aug 2009 of MBPJ, Dato’ binSakiman. Roslan Mohamad Damansara. in Kota The event wasofficiated Mayor bythe (“MBPJ”) to cleantheDataranSunway commercial centre royong” campaign withthePetaling Council Jaya City city, Sunway Bhdorganised DamansaraSdn the “Gotong- 2009theyearcommitment to ofcleanlinessfor make the theMayor ofPetalingSupporting Council’s Jaya City Gotong Royong atDataranSunway 2009 27 May 25 Events Significant of Calendar Sunway City Berhad Annual Report 2009 of Significant of Calendar Events 26

Sunway City Berhad Annual Report 2009 Park atSunway Lagoon. Wildlife Park Launch ofSunway Lagoon Wildlife Park incorporates education and entertainment features, educationandentertainment incorporates Datuk Douglas UggahEmbas,Datuk Douglas launchedthe Wildlife only SalsaCongress whichprovided inMalaysia the experience to see,experience aboutover touch andlearn 160 Malaysian Malaysian World SalsaCongress 2009 opportunity for LatinBallroom danceenthusiasts opportunity Minister ofNaturalResources andEnvironment,Minister Malaysian Malaysian World SalsaCongress 2009. This isthe Sunway PyramidConvention Centre hosted the and Dance Sport enthusiasts to participate ina enthusiaststo participate and DanceSport hence providing itsvisitors withaninteractive species ofanimalsinasafe environment. professional attheCongress. capacity 24 Mar 2009 24 Mar LOHAS philosophy. township embracingthe andisinlinewithSunCity has beenwell received by theresidents inthe around City. Sunway Integrated Resort This move launcheditsfirstfreeSunCity shuttlebusservice City Sunway Integrated Resort Free ShuttleBuswithin 10 Apr2009 14 Apr2009 Safety Campaign withthe inconjunction Road Safety CampaignRoad Launch the New Pantaithe New Expressway Petaling Jaya Hari Raya festival. Raya Hari The event washeldat Sunway Pyramid took part in the Road intheRoad Sunway Pyramidtook part Selatan 5tollSelatan booth. 26 Sep 2008 26 Sep third time. championship whichwashosted by for Malaysia the Arab Emirates, andUSAcompeted for Macau this Philippines, HongKong, China, Thailand, United Singapore, from like countries Indonesia, 1,000 skaters competition. More than premierinternational skating Sunway Asia 2008,an Pyramidhosted theSkate Asia 2008 Skate 20 Aug 2008 Singapore, andUnited ArabEmirates. Indonesia from there Malaysia, from were Apart participants response ofmoreoverwhelming than10,000entries. The Sunway photography Memories contest saw an Presentation Ceremony Photography Contest Award Sunway Memories 2009 11 Mar 27 Events Significant of Calendar Sunway City Berhad Annual Report 2009 Awardsand Accolades 28

Sunway City Berhad Annual Report 2009 The Sunway Platinum Success deal Success PlatinumSunway The only need to lie in its products and products its in lie to need only typical Musharakah Mutanaqisah Mutanaqisah Musharakah typical was deemed groundbreaking as groundbreaking deemed was TopGroundbreakerIslamic 10 By Islamic Finance Asia magazine Finance Asia Islamic By This is testament to the Group’sthe to testament is This belief that innovation does not does innovation that belief partnership which is typically typically is which partnership services but in all aspects of its of aspects all in but services traditional boundaries of a of boundaries traditional business operations as well. as operations business used for home financing. home for used it extended beyond the beyond extended it Mar 2010 Mar Sunway City Berhad Sunway City Deals 2009 Deals by consumer preference.consumer by brands Awardsmeasure Brand Putra the valuation, financial by brands measures Malaysians.MMVB of While hearts the to dear and near are that brands exerciserecognisetovaluation brand and recognition a Awardsare Brand Putra the Malaysia’s Most Valuable(“MMVB”), Brands the with association in Organised (MSA). Association Specialists Media the and (MAA),Association Advertisers Malaysian the (BAM), Malaysia of Association Branding the by (MATRADE) Corporation supported and External Trade Malaysia Development the by endorsed Malaysia in awards brand only the Awardsare Brand Putra The Awards2010. Brand Putra inaugural the in category property AwardforSilver the won SunCity (4As) Malaysia Agencies Advertising Accreditedof Association By DevelopmentCategory Property Awardthe Silver in AwardsPutraBrand Berhad Sunway City Mar 2010 Mar The winning award was presented was award winning The organisations, whose outstanding whose organisations, Malaysia TourismAwards 2009 them for their efforts to promoteto efforts their for them (Natural Attraction/Eco Attraction/Eco Tourism)(Natural aimed to recognise the industry industry the recogniseto aimed by the Minister of Tourism, Minister the Dato’by excellence, as well as to rewardto as well as excellence, role in the success of Malaysia’sof success the in role players for product and service service and product forplayers contributions play a significant a play contributions By Ministry of Tourismof Malaysia Ministry By Sri Dr Ng Dr Yen Sri Yen. award The Innovative Innovative Tourist Attraction accolade for individuals and individuals for accolade the local tourism industry. tourism local the This award is the highest the is award This Lost Worldof Tambun Feb2010 tourism industry. tourism Minister of Tourism, Minister Malaysia. Dato’was awards Ng Dr Yen Sri Yen, far.the conferthus Presentrow to a in awards 2 awarded mall shopping only the is It category. Suburban Events’Promotionsand ‘Best the under both ‘Best Decoration’Thematic and for winner the was Pyramid Sunway Tourismof Malaysia Ministry By ii. i. Awards2009 Malaysia Year(“MYES”) Sale End SunwayPyramid Jan 2010 Jan MYES 2009 (Suburban) 2009 MYES forEvents Promotionsand Best (Suburban) 2009 MYES for Best Decoration Thematic overseas visiting travel writers.travel visiting overseas and editors travel seasoned LIBUR Travelreaders, Magazine by cast 100,000 of excess in votes of majority a received it after accorded time.was awardsecond The the forawardtravel prestigious the at award the won Lagoon Sunway Tourismof Malaysia Ministry the by supported Magazine LIBUR By Award Best ParkAttraction Theme LIBUR TravelAwards 2009 SunwayLagoon Dec 2009 Dec 29 Accolades and Awards Sunway City Berhad Annual Report 2009 Accolades Awards 30 and

Sunway City Berhad Annual Report 2009 all industry leaders in the Malaysian Malaysian the in leaders industry all graduates, is a recognition given to givenrecognition a graduates,is Leading Graduate Employers 2009 Employers GraduateLeading The award, voted by students and students byaward, votedThe 2008. Sunway Group also came in came also GroupSunway 2008. Awards, Sunway Group upped its upped Awards,GroupSunway Ranked 34 Ranked graduate recruitment market. Its Its market. recruitmentgraduate position by 2 places from 36 from places 2 by position as one of the 4 nominees in 2 in nominees 4 the of one as goal is to identify the top 100 top the identify to is goal categories - Leisure,- categories Travel& Graduate Employers2009 Graduate Hospitality and Property & Property and Hospitality Malaysia’sLeading 100 Dec 2009 Dec th in the Malaysia’sthe in 100 employers of choice. of employers SunwayGroup Development. Development. By GTI Media GTI By th in friendly presentation and readability.and presentation friendly user a adopting as well as translation of fluency terminologies, financial and accounting of usage in accuracy the achieving Malaysia, Bahasa in Report Annual Best AwardforSilver the clinched also SunCity addition, In 2007. since title the claimed and HotelsTrusts having category, Properties, the under winner the named been again once has SunCity Accountants(MICPA) Public Certified of Institute Malaysian and Accountants(MIA) of Institute Berhad,Malaysian Malaysia Bursa By ii. i. Awards 2009 Report CorporateAnnual National Berhad Sunway City Nov 2009 Nov Malaysia (Silver Award)(Silver Malaysia Bahasa in Report Annual Best Category and HotelsTrustsProperties, the Awardsin Excellence Industry Nov 2009 Nov the Group to move forward. move to Group the to motivation tremendous a been has this and CIDB by assessed been have projects 8 2007, Since identified. been have requirementsthat standard on based project construction of quality the evaluate and measure to used method a is CIDB by yearly held Construction in System Assessment Quality The Category. Building Housing Stratified the under Certificate Achievement Silver Qlassic the awarded been has Damansara Challis Sunway (“CIDB”) Malaysia of Board Development Industry Construction By Category Building Housing Stratified the under Certificate AchievementSilver Qlassic Berhad Sunway City benchmarking tool that ranks the ranks that tool benchmarking country’s best property players in players property best country’s It is the seventh consecutive year consecutive seventh the is It quality, innovation, creativity and creativity quality,innovation, that SunCity is recognised in the in recognised is SunCity that consecutive year.consecutive a is award This terms of financial performance, performance, financial of terms Top 10 list. SunCity retained its retained TopSunCity list. 10 third placing for the second the for placing third Developers AwardsDevelopers 2009 value creation for buyers.forcreation value The Edge The Top Property Nov 2009 Nov Sunway City Berhad Sunway City By The Edge The By Oct 2009 Oct Interbrand. by conducted was and Edge, The and 4As by commissioned was study valuation The brands. consumer the Tophonours Malaysian 30 that league distinguished a of part been has SunCity row,a in years For3 Interbrand by sanctioned and (4As) Malaysia Agencies Advertising Accreditedof Association By 2009 Brands Malaysia’s Most Valuable Berhad Sunway City Jul 2009 Jul and innovation. and quality in heights new reach to continue and services, and skills excellentproviding by industry the of standards the raise continuously who players as identified are categories. 21 Winners in achievement of level highest the with companies distinguishes that programme annual premier awards,a property international the of part Awardsare Property Pacific Residential Asia CNBC The category. Malaysia in Development Residential High-Rise the in Awards2009 Property Residential PacificAsia CNBC the PalazzioSunwaywon Television(“CNBC”) Channel Business and News Consumer By Lumpur Kuala Hartamas, Sri PalazzioSunwayat Malaysia: in Development Residential High-Rise Best Awards 2009 Property PacificResidential Asia CNBC Berhad Sunway City 31 Accolades and Awards Sunway City Berhad Annual Report 2009 Accolades Awards 32 and

Sunway City Berhad Annual Report 2009 MY Branded Service Award 2009 Service Branded MY recognises companies that provide that companies recognises adopting their own characteristic characteristic own their adopting founder Mr Hermawan Kartajaya. Kartajaya. Hermawan Mr founder Marketing, Professor Kotler Philip Marketing, The achievement was presented was achievement The Malaysia branded service in the in service branded Malaysia The MY Branded Service Award Service Branded MY The who is touted the world’sthe most touted is who together with the Markplus Inc Inc Markplus the with together of service to differentiatefromto service of outstanding service quality by quality service outstanding inaugural MY Branded Service Service Branded MY inaugural when it recently clinched the clinched recently it when authoritative marketing guru marketing authoritative up yet another achievement another yet up Award 2009 for the best of best the for Award2009 Sunway Pyramid chalked chalked Pyramid Sunway by the Father of Modern FatherModern the of by shopping mall category. mall shopping Jun 2009 Jun other competitors. other SunwayPyramid By Markplus Inc Markplus By destinations throughout Asia. throughout destinations preferredand attractions best the year.consecutive honours award The third the Awardsfor Attraction Best Asia’sthe won Lagoon Sunway Attractions(IAAPA)Parks& Amusement of Association International and AXN By annually) visitors million (1-2 category Medium Asia’sAwardsAttraction 2009 Best SunwayLagoon May 2009 May Apr 2009 Apr the best products and services. and products best the of honour Awardin Branding Product the awarded also was identity.It brand strong and brand successful a building for recognitionAward in Branding Corporate the awarded was SunCity Abidin. Zainal Mizan Al-WathiquBillah Agong Tuanku Baginda Paduka Yangdi-Pertuan Seri Majesty His by endorsed AwardsBrand only the AwardsareBrandLaureate The ii. i. PacificBrandsFoundation Asia By AwardsChapter 2009 BrandLaureate SMEs The Rink Sunway Skating and SunwayLagoon Sunway Lagoon Sunway Leisure- in Brands Best CORPORATEBRANDING Sunway Skating Rink Skating Sunway Leisure– in Brands Best BRANDING PRODUCT leading successful, growingand successful, leading pride of the entrepreneurs.the of The pride SunCity brand is well-accepted is brand SunCity recall amongst consumers and consumers amongst recall recognises those building and building those recognises and has a strong top-of-mind top-of-mind strong a has and with the support from Global from support the with Asia Pacific Super ExcellentPacificSuper Asia Branding Council and Global and Council Branding Entrepreneur Alliance (AEA) EntrepreneurAlliance By Asia Entrepreneur AllianceEntrepreneur Asia By trademark that signifies the signifies that trademark dynamic brands. It is also a also is It brands. dynamic The award celebrates and celebratesaward The Excellent Brand Awardis Brand Excellent organised annually and annually organised Apr 2009 Apr Sunway City Berhad Sunway City The Asia PacificSuper Asia The endorsed by the Asia the by endorsed peers in the industry. the in peers Brand AwardBrand 2008 CEO Magazine. CEO Mar 2009 Mar industries. various across leaders brand these of leadership thought and impact the recognising at aimed is It brands. notable most country’s the honour exerciseto annual an is It ceremony. gala the at presentedawardsthree top the among was it and category Conglomerate the under Group the tobestowed was recognitionThe year.consecutive second the for Awards2008/2009 ConglomerateBrandLaureatecoveted the winning after power brand provedits again once GroupSunway PacificBrandsFoundation Asia By Awards2008/2009 BrandLaureateConglomerateThe SunwayGroup Dec 2008 Dec of choice. of destination culinary international an as Malaysia positioning ultimately,and scene dining Malaysia’sin interest sustained a promoting and standards the setting been has event festival.gourmet the annual in This participated had that personalities exceptional and restaurants outstanding honours award The MIGF.month-long the in participation their in Restaurant Chinese Garden and WestLake Ristorante Italian-American Avanti Award” Restaurant Marketed for the of recipientproud the “Best was Spa & Hotel Resort Sunway Festival Gourmet (“MIGF”) International Malaysia The By 2008 Restaurant Marketed Best Spa & Hotel SunwayResort 33 Accolades and Awards Sunway City Berhad Annual Report 2009 Accolades Awards 34 and

Sunway City Berhad Annual Report 2009 the National ToiletCommitteeNational Cleanliness the (NTCC) under the Ministry of Housing and Housing of Ministry the under (NTCC) National Quality Quality ToiletNational AwardGold - Malaysia (QRAM) in collaborationwith in (QRAM) Malaysia By Quality Restroom Association of Association Restroom Quality By organisations with lavatories in lavatories with organisations the best state of cleanliness, of state best the The award was to recogniseto was award The along with best design and design best with along LocalMalaysia Government, Nov 2008 Nov SunwayPyramid special features.special annual report. report. annual reader-friendly and informative,factual timely,of publication the through stakeholders its and organisation the between communication effective and transparentrecognises which reporting corporate in excellence for benchmark the is award The reporting. corporate its in integrity and accountability governance, corporate good foraward the receiving is SunCity that year consecutive second the is This Accountants(MICPA) Public Certified of Institute Malaysian and (MIM) Management of Institute Malaysia Accountants(MIA), of Institute Berhad,Malaysian Malaysia Bursa By and HotelsTrustsProperties, Category the Awardsin Excellence Industry Awards 2008 Report CorporateAnnual National Berhad Sunway City Nov 2008 Nov Oct 2008 Oct hospitals in 15 countries. 15 in hospitals 55 from entries 233 attracted year,seventh it its in Now practices. hospital commendable out carry that Asia in hospitals honours Awardsand recognisesHMA The component. fun large a with exercisesphysical and education nutrition intervention, behavioural and medical encompasses that programme intervention based Malaysia’sis family- holistic It first programme. wellness and obesity Nutrition” paediatric a is it and and Activity through Education for stands LEAN “Life-changing Events OIC By PromotionalCategory or Relations Public Marketing, the under (“HMA”)Awards 2008 Asia Management Hospital Club LEAN Centre: Sunway Medical Best Annual Report in AnnualBest Report Asia’s Attraction Best MY Branded Service MY Branded Service Malaysia Tourism Bahasa MalaysiaBahasa Awards 2009 Awards 2009 NACRA 2009 Silver Award Award 2009 Awards Valuable Brands 2009 Property DevelopersProperty Malaysia’s Most Our Our The Edge Top Awards 2009 Awards 2010 Putra Brand Conglomerate Awards Residential Property Residential Property Industry ExcellenceIndustry The BrandLaureate Leading Graduate CNBC Asia Pacific Employers 2009 Malaysia’s 100 Awards 2009 NACRA 2009 2008/2009 Awards Accolades and Awards 35 Sunway City Berhad Annual Report 2009 Performance Review 5-Year Financial Highlights 38 Segmental Performance 39 Chief Financial Officer’s Review 40 Value Added Statement 46 Share Performance 47

An exciting and thrilling time at Sunway Lagoon. 38

Sunway City Berhad Annual Report 2009 100 150 50 5-YearFinancialHighlights Current assets Goodwill anddeferredGoodwill taxassets Biological assets Other investments Other Investment injointlycontrolled entities Gross dividendper share (%) Investment inassociates Net assetspershare (RM) Land held for property development Land heldfor property Basic earnings pershareBasic earnings (sen) FINANCIAL RATIOS Investment properties Shareholders' equity Property, plantandequipment DATA SHEET KEY BALANCE Minority interest Minority 0 financial period/year interestNet profit minority after for the TOTAL ASSETS NET Minority interest Minority Total Liabilities Profit taxation after Deferred taxliabilities Taxation Other non-current liabilities non-current Other Profit before taxation Non-current borrowings Non-current Revenue OPERATING RESULTS Current liabilities Total Assets 1 The financial performance 2006and2009 coversfor thefinancialperiods The an18-monthperiod. financialperformance Dec 2004 Dec 16.82 Basic earningspershareBasic (sen) Jun 2006 48.36 1 Jun 2007 Jun 2008 Dec 2009 Dec Jun2008 Jun 2007 35.19 55.87 114.46 1 2.0 4.0 6.0 0 Dec 2004 Dec 31.12.2009 1,447,846 3,207,367 2,172,336 31867 23788 19306 11893 965,770 1,188,943 1,953,046 2,377,858 3,168,637 2,996,645 1,141,407 1,600,967 1,339,434 6,165,282 1.66 (327,972) 1.7.2008 125,926 402,954 890,904 996,301 5798 2196 1586 2008 69,065 200,098 155,806 261,906 537,908 865,880 435,020 350,629 871,562 275,527 RM’000 45,210 16,895 27,648 114.46 13.00 Net assetspershare (RM) 4.62 Jun 2006 532 2.01 to 1 Jun 2007 Jun 2008 Dec 2009 Dec Jun2008 Jun 2007 3.06 30.6.2008 38055 14266 10276 1,039,375 1,072,716 1,402,666 3,890,555 16171 14590 8302 681,209 833,062 1,415,930 1,681,781 28901 23410 19901 1,850,325 1,909,061 2,314,140 2,839,091 13456 11256 15440 992,481 1,574,400 1,142,566 1,314,556 12750 10638 7882 763,800 788,872 1,086,358 1,287,540 52699 42716 30804 2,816,095 3,098,004 4,267,186 5,216,949 (restated) 1.7.2007 (9,1) 7,7) 1730 (55,645) (137,350) (71,276) (196,414) RM’000 3443 2108 3700 357,325 367,040 251,008 394,473 4949 13430 6138 485,091 611,388 1,334,370 429,469 3481 11800 9119 882,229 951,169 1,188,050 384,891 6607 5716 3581 284,561 355,881 537,116 696,077 4830 2702 3748 124,710 337,448 227,082 458,320 2913 1141 2,4 4,488 21,849 151,421 249,113 3573 3687 3141 450,277 381,461 366,897 365,733 6405 2616 4932 167,350 419,322 296,186 634,005 9675 7944 7689 631,760 716,879 709,464 936,705 1565 6,0 184 42,640 81,874 69,104 175,685 3,6 198 4,6 26,033 41,965 31,958 36,166 6,9 627 4,3 13,540 40,733 46,277 65,099 1,3 240 1,9 12,502 12,993 12,420 15,533 5.7 3.9 4.6 16.82 48.36 35.19 55.87 80 .0 75 5.00 7.50 7.80 8.00 35 .6 20 1.66 2.01 3.06 3.58 73 437 763 3.58 to - 30.6.2007 4.62 1.7.2006 (restated) RM’000 1 10 15 0 5 to - Dec 2004 Dec 5.0 Gross dividendpershare (%) 30.6.2006 (restated) 1.1.2005 RM’000 Jun 2006 7.5 to 1 - - Jun 2007 Jun 2008 Dec 2009 Dec Jun2008 Jun 2007 7.8 31.12.2004 1.1.2004 (restated) RM’000 8.0 to - - 13.0 1 1 investment andanupfront fee properties facilities. for banking assets,reclassified previously non-current classifiedasheld forsalewhich have been reclassified to plantandequipment property, The above suchasassets depreciation financial revaluation; due results have operating performance to includedthenon-core The financial performance December 2009 covers ended31 an18-monthperiod.for thefinancialperiod The financialperformance Development Investment Healthcare Hospitality Property Property Property Leisure Segmental Performance Segmental RM Revenue RM Revenue RM Revenue RM Revenue RM Revenue RM Profit Operating RM Profit Operating RM Loss Operating RM Profit Operating RM Profit Operating 992 410 112 543 3 175 35 184 53 289 million million million million million million million million million million 2009 2009 2009 2009 2009 410 543 175 184 289 Revenue Revenue Revenue Revenue Revenue 1 1 1 1 1 2008 2008 2008 2008 2008 218 721 104 113 158 Operating Profit/ (Operating Loss) Operating Profit Operating Profit Operating Profit Operating Profit 2009 2009 2009 2009 2009 992 112 (3) 35 53 1 1 1 1 1 2008 2008 2008 2008 2008 455 161 32 50 6 39 Sunway City Berhad Annual Report 2009 Financial Officer’s Review Chief 40

Sunway City Berhad Annual Report 2009 2  1  period ended 31 December 2009 ended31December period RM538 millionfor the18-monthfinancial interest (“PATMI”)and minority exceeding Malaysia and posted a profit taxation after sinceitslistingonBursa performance accomplished itsbestever financial global financialcrisis, SunCity Against thebackdropofchallenging financial year ended30June2008 compared withRM262millionfor the reflects anastounding 37% growth The annualisedPATMI ofRM359million ofRM1.1billion. before tax(“PBT”) RM1.6 billionandtheGroup’s profit the backofGroup’s turnover of (“FPE2009”). This PATMI wasachieved on Sdn Bhd,Sdn asperSunCity’s 2010. announcement dated 7April Excludes proposed 3piecesoflandwhichSunCity to disposeofto Sunway Pyramid plan to expanditsbusinessglobally. 18-month financialperiod for 2009. This move isaligned withtheGroup’s strategic changeditsfinancial year endfromSunCity 30JuneDecember,to 31 resulting inan Sunway Pyramid Investment Properties Total Others uwyCria hpigMl 247 Sunway ShoppingMall Carnival 1

(RM million) Revalued amount 2,128 3,220 845 2 2 2 2 the Property Investment division. the Property from toattributed strong performance This improvement inthecore PATMI is PATMI ofRM129millioninFY2008. million was16%higherthanthecore The annualisedcore PATMI ofRM150 provided inthetablebelow. at PATMI level. The detailsofthegainare million atPBTlevel andRM330million The revaluation gainamounted to RM733 Investment division. as arevaluation gainfrom theProperty aswell robust businessperformance (“FY2008”). This leapwasdrivenby Fair value gain (RM million) at PBT level 733 605 70 58 Fair value gain at PATMI level (RM million) 330 236 51 43 2 5-Year ProfitMargin and Trend Group Financial Performance Adjusted for Non-Core Operational Performance 1 Group Financial Performance  Operatingprofit represents before theearnings interest andtax. PATMI Margin PBT Margin PATMI PBT Operating profit Core Operations investment andanupfront fee properties facilities. for banking current assets, previously classifiedasheld for salewhichhave been reclassified to plantandequipment property, hasbeenadjusted forSunCity’s assetsrevaluation; operationalperformance depreciation dueto reclassified non- PATMI Margin PBT Margin PATMI Operating profit PBT Revenue 17% 7% Dec 2004 Dec 167 All values are in RM million unless otherwise stated. All valuesare inRMmillionunlessotherwise 3 The financial performance 2006and2009 coversfor thefinancialperiods The an18-monthperiod. financialperformance 1 2 69 PBT Jun 2006 419 13% 27% 200 PATMI 3 296 Jun 2007 14% 26% 156 RMmillion 31.12.2009 RMmillion 31.12.2009 PBT Margin 1.7.2008 1.7.2008 1,141 1,601 1,188 14% 27% 34% 71% 225 429 476 538 to to Jun 2008 634 Annualised Annualised RM million RM million 20% 262 48% ,6 ,1 (19%) 1,315 1,067 4 10% 14% 7 23% 27% 4 20% 34% 1 48% 71% 5 2 16% 129 150 8 0 (7%) 307 286 1 7 (16%) 376 317 5 6 37% 262 359 6 3 20% 634 761 9 9 13% 699 792 PATMI Margin RMmillion RMmillion 1,141 30.6.2008 Dec 2009 Dec 30.6.2008 1.7.2007 1.7.2007 34% 538 71% to to 3 (Decrease) (Decrease) Increase/ Increase/ % % 41 Review Officer’s Financial Chief Sunway City Berhad Annual Report 2009 Financial Officer’s Review 42 Chief

Sunway City Berhad Annual Report 2009 deliver valueto shareholders. management’s andcommitmentto create skills and economic conditions. This istestament ofthe of RM733millionatPBTlevel despite thedifficult Investment divisionachieved arevaluation gain ofinvestmentportfolio assets, theProperty With aneffective yieldmanagementandasolid InvestmentProperty Division strategy infuture projects. With itssuccess, willcontinueto adoptthis SunCity Permodalan Berhad. Kebangsaan project withSyarikat the Sunway SPKDamansaraproject,ajointventure of RM39million. This growth wasmainlyderived from controlled entities amountingto anannualisedprofit in theshare ofprofit from associates andjointly builders paidoffasthere wasasignificant growth withreputable SunCity’s strategy ofpartnering such asSunway SPKDamansara. fromhigher contribution more profitable projects mitigated by despite partially properties high-end salesfromThis ismainlydueto the lower property by 35%ascompared to RM153million inFY2008. The annualisedcore PBTofRM99milliondeclined DevelopmentProperty Division Segmental Performance Review 184; 11% 289; 18% 1 stated. All valuesare inRMmillionunlessotherwise Development Property 50; 11% The financial performance for theFPE2009 coversThe financialperformance an18-month period. 204; 48% 175; 11% 33; 8% Revenue 2009 Core PBT 2009 (6); 0% 410; 26% 1 1 543; 34% 149; 35% Property Investment Property 158; 12% 96; 31% 218; 16% 28; 9% 113; 9% 26; 8% Core PBT 2008 Revenue 2008 104; 8% (formerly known as (formerly known Wisma Denmark). andthefullytenantedCarnival Sunway Tower 2 Sunway rate inSunway Pyramid, highoccupancy growth isledby theexpansionofstrong-patronaged FPE2009, postingasignificant growth of42%. The FY2008 to annualisedcore PBTofRM136millionin spending, thecore PBTleapedfrom RM96millionin Despite thedampenedconsumersentimentsand the core operating profit ofRM28millioninFY2008. RM33 millionhasincreased by 18%ascompared with of RM50millioninFPE2009. The annualisedcore PBTof hasimproved byperformance registering acore PBT to pickup. division’sstarted Sincethen,theHospitality consumer confidenceimproved and hotel guest visits Fortunately, towards thesecondhalfof2009, a slowdown inthenumber ofhotel guest visits. 2009andconsequently,influenza virusinApril This divisionwasaffected by the outbreak ofA(H1N1) Division Hospitality Hospitality 4; 1% 153; 51% 721; 55% Leisure Healthcare performance thisyear.performance expansion willenablethedivision to improve its With this, themanagementisoptimisticthat to 335bedsand 12operatingtheaters.its capacity Following thisexpansion,the hospitalhasincreased RM4 million. FPE2009 withanannualisedcore lossbefore taxof to an18-monthcore lossbefore taxofRM6millionin theexpansionperiod.for during construction This led of Sunway Centre Medical closeddown several floors level. Basedonthisbusinessbelief, themanagement that thehospitalcontinuesto operate atanoptimal conducive environment for itspatientsandensuring The Group believed inproviding hasfirmly asafe and Healthcare Division also reduced budgetfor corporate group functions. family day events asplannedandtheeconomiccrisis influenza viruswhichdeterred from corporates holding PBT ofRM26millioninFY2008. The outbreak ofA(H1N1) showed adeclineof16%ascompared withthecore FPE2009. The annualisedcore PBTofRM22million This divisionposted acore PBTofRM33millionin Leisure Division 5-Year andAverage Dividend Share Price Trend Net assetpershare (RM) ai annsprsae(e)1.24.63.955.87 35.19 48.36 16.82 pershareBasic earnings (sen) e 04Jun2006 2004 Dec 1 0.036 The financial performance 2006and2009 coversfor thefinancialperiods The an18-monthperiod. financialperformance 1.57 2.3% Net Dividend 31.12.2004 (restated) 1.76 1.1.2004 3.1% 0.054 RM’000 1 .620 .63.58 3.06 2.01 1.66 to Average share price Jun 2007 30.6.2006 0.058 (restated) 1.1.2005 RM’000 2.1% 2.77 for FPE2009willbe13sen pershare. Together dividend, withtheinterim total gross dividend proposed afinal dividend of5sen for theFPE2009. subsequently paidon20November 2009andalso ofFPE2009 whichwas of 8seninthesecondquarter For declared dividend FPE2009,SunCity aninterim its shareholders through ofdividends. distribution rewarded SunCity Based onthisstrong performance, with a5-year CAGR of23%. Consequently, thenetassetspershare rose to RM4.62 compounded average growth rate of35%. (“CAGR”) an annualisedEPSof76sen. This represents a5-year from 56seninFY2008to 114seninFPE2009with environment. pershare Basicearnings (“EPS”) grew for itsshareholders despite thechallenging economic isfocusedSunCity initscommitmentto create values Delivering Values to Shareholders to 30.6.2007 Jun 2008 (restated) 1.7.2006 0.059 RM’000 1.5% 4.05 to Net Dividendyield 30.6.2008 (restated) Dec 2009 Dec 1.7.2007 RM’000 0.098 4.1% 2.37 to 1 31.12.2009 1.7.2008 RM’000 114.46 4.62 to 43 Review Officer’s Financial Chief Sunway City Berhad Annual Report 2009 Financial Officer’s Review 44 Chief

Sunway City Berhad Annual Report 2009 and RM200 million worth ofbankguarantee and RM200millionworth notes mediumterm (“MTN”)commercial papers (“CP”), RM600 millionto refinance theexistingRM240million environment, secured SunCity credit facilitiesofupto cost ofcapital. Tapping into thelower interest rate were reviewed actively inorder to achieve itsoptimal exercise, thesourcesanddebtfunding ofequity ofSunCity’s strategicAs fundmanagement part ofitsbusinessoperationsaswell.but inallaspects creativity donotonlylieinitsproductsandservices This echoestheGroup’s beliefthatinnovation and usedfor whichistypically homefinancing. partnership Mutanaqisah Musharakah ofatypical boundaries groundbreaking beyond thetraditional asitextended Groundbreaker in2009. Deals The dealwasdeemed Campus) wasawarded asoneofthe Top 10Islamic SunwayPlatinum University Success(Monash The RM132millionIslamicfinancing for Sunway Strategic andInnovative Fund Management Sunway Platinum Success was recognised asoneofthe Top 10IslamicGroundbreaker in2009. Deals are by high-yielding backed assets. ratioisconsideredgearing healthy astheborrowings reduced to 0.53timesofshareholders’ fund. Such SunCity’s ratio netgearing business performance, With theeffective fundmanagementandvibrant sound financialperformance. endorsement oftheGroup’s positionand corporate respectively for theCP/MTN. This isacontinued ratingsofP2andA2 andlongterm SunCity’s short reaffirmed Malaysia Agency August 2009,theRating In interest rates ranging from 5.75%to 7%perannum. annum whileretiring several existingborrowings with facilitiesatamore favourablebanking rate of4.8%per As aresult oftheinitiatives, theGroup secured new revolving credit. bonds whileproviding anadditionalRM160million stood 2009. atRM430 millionasat31December this financialperiod. As a result, SunCity’s cashposition net decrease innetcashandequivalentsduring approximately RM460millionlargely to contributed a repayment loanandCP/MTN ofterm amountingto ofRM494millioninFPE2009.However,activities the generated netcashflowSunCity from operating Sustaining itsNetCash Flow Net cashflow fromactivities financing Net cashflow from investing activities Net cashflow from operatingactivities Taxation Cash from operations ofCash FlowSummary Statement Net increase/(decrease) incashandequivalents Closing balance 30 April 2010 30 April Chief Financial Officer Tan Poh Chan business expansion. borrowings, acquire landbanksandaccelerate future to usetheproceedsexpects to repay theGroup’s Upon thesuccessfullistingofSunway REIT, SunCity oftheproposedthe purpose listingofSunway REIT. real estate assetsto beacquired by Sunway REITfor Commission to seekitsapproval onthevaluationof submitted theapplicationtoSunCity theSecurities Investment 2010, division.On6April Trust (“REIT”) the wheelsinmotiongrowing Estate itsReal theyear whereby2010 marks willset SunCity Another Exciting Year Ahead 31.12.2009 (190,607) (422,328) (118,761) 1.7.2008 494,174 545,773 430,358 RM’000 (51,599) to 30.6.2008 (restated) 1.7.2007 (594,340) RM’000 399,932 479,551 213,549 543,928 (79,619) 19,141 to 45 Review Officer’s Financial Chief Sunway City Berhad Annual Report 2009 46

Sunway City Berhad Annual Report 2009 VALUE DISTRIBUTED StatementValueAdded 1 Total Distributed Income retained by Income theGroup Depreciation andamortisation Reinvestment andgrowth Minority interest Minority Finance costs Dividends Providers ofcapital Corporate taxation Government Salaries andotherstaffcosts Salaries Employees VALUE DISTRIBUTED Total Value Added Minority interest Minority Taxation Staffcosts Finance costs Add: Depreciation andamortisation Profit for the year Reconciliation: Total Value Added Share ofprofits ofjointlycontrolled entities Share ofprofits ofassociates Value Added by theGroup Purchases ofgoodsandservices Total turnover Value Added The financial performance 2009 coversfor thefinancialperiod The an18-monthperiod. financialperformance Reinvestment andgrowth Government Providers ofcapital Employees 36% 29% 2009 1 18% 17% 31.12.2009 1.7.2008 RM’000 1,612,035 1,612,035 1,612,035 1,554,281 1,600,967 (46,686) 500,719 327,972 104,780 275,527 283,334 327,972 275,527 283,334 104,780 537,908 to 82,514 37,189 82,514 49,660 31% 8,094 31% 2008 30.6.2008 1.7.2007 (restated) 1,314,556 (409,332) RM’000 917,191 249,945 196,414 175,685 171,978 917,191 196,414 175,685 171,978 261,906 917,191 905,224 34,576 76,632 11,961 76,632 34,576 19% 8,744 3,223 to 19% FTSE BM KLCI Share Volume Index Price (RM) (’000) 1,400 4.00 25,000

20,000 1,200 3.00 15,000 1,000 2.00 10,000 800 1.00 5,000

600 0.00 0 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09

Volume ('000) Closing Price (RM) FTSE BM KLCI Index Share Performance Share Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09

Closing Price (RM) 2.12 2.45 2.25 1.60 1.44 1.75 1.60 1.47 1.49 2.11 2.88 2.84 3.04 3.39 3.08 3.09 2.98 3.25

Volume ('000) 18,928 20,630 4,812 9,744 12,165 4,031 4,224 6,577 9,472 17,080 10,957 9,736 5,938 10,443 5,220 3,285 1,592 2,821

FTSE BM KLCI Index* 1,163 1,101 1,019 864 866 877 884 891 873 991 1,044 1,075 1,175 1,174 1,202 1,243 1,259 1,273

*FTSE Bursa Malaysia KLCI Index 47 Sunway City Berhad Annual Report 2009 Exemplary Leadership Profile of Board of Directors 50 Profile of Management Team 56

Tan Sri Dato’ Seri Dr Jeffrey Cheah, a visionary leader sharing his passion with management and business associates. of Board of Board of Directors Profile 50

Sunway City Berhad Annual Report 2009 Malaysian ExecutiveNon-Independent Director Executive Chairman, Cheah Fook Ling, Tan Dato’ Sri DrJeffrey Seri 1997-2004; and the first non-Malay 1997-2004; andthefirstnon-Malay Association Hakka of Malaysian Foundation since1999; President Founding Trustee Liver ofMalaysian FoundationKidney ofMalaysia; PresidentIs theDeputy of National (ASLI). Institute Asian Strategy &Leadership andCo-founderIs alsotheChairman of Unity, in2008. Culture, &Heritage Arts Chapter of Selangor by theMinister Malaysia Crime Prevention Foundation’s Was ofthe appointed Chairman College. Chancellor ofSunway University installed him as of FoundationSelangor Sultan RoyalHighness 2006,His In Sunway Campus. University to Monash contribution him inappreciation ofhisimmense wasnamedafter Health Sciences and ofMedicine School University 2007,theprestigious In Monash ofAustralia.to anon-citizen and highlyrespected awards conferred AO is one of Australia’s most prestigious Rudd. ofAustralia, Minister Kevin The Order ofAustralia (AO) by thePrime ofthe 2008,wasappointed Officer In of Philanthropy 2009. whomadeForbes Asia’scountry Hero also amongthe4leadinggivers inthe by leadinguniversities worldwide. Is Doctorates been conferred 8honorary An Accountant by profession andhas SunCity. (“SunwayBerhad Holdings”) and companies namelySunway Holdings which encompasses2publiclisted Executive ofSunway Chairman Group FounderAged 65,isthevisionary and AO

Meetings heldinthe financialperiod. Meetings Attended 7outofthe8Board and Sunway Centre Medical Berhad. companies includeSunway Holdings Current directorships inother public Committee. oftheRemuneration as aMember CommitteeOption Scheme aswell of theBoard and Employees’ Share oftheExecutiveChairman Committee as on 1July1992andalsoserves Appointed to theBoard ofSunCity Entrepreneur Award 2005. and Asia’s Chinese Innovative Most 1993, CEOofthe Year in 1996 (Malaysia) ofthe Man Property Year in (Malaysia) include thePaul Fellow Harris Award, awards bestowedOther uponhim Foundation.Reporting oftheFinancialhim aCouncil Member year, ofFinance theMinister appointed Tourism in1996. Malaysia The following of an appointmentby theMinister Malaysian Tourism Council, Action Was alsoanEXCO memberofthe andHousing.Construction Group for High forTechnology (MIGHT) Industry-Government of Malaysian honoured himwiththeChairmanship 1996,thePrime ofMalaysia Minister In in 1990. Director ofNationalProductivity Centre of The Minister Trade appointed himas Education Council ofMalaysia. Higher ofEducation toby theMinister education, in1996,wasappointed recognition toIn ofhiscontribution Commerce since2002. Chamberof Malay of Member Honorary financial period. Attended allofthe8Board heldin the Meetings and Berjaya LandBerhad. Assurance AllianceBerhad, MAA Takaful Berhad Berhad, MAA HoldingsBerhad, Malaysian Berhad, Multi-Purpose Holdings Berhad, Ranhill International Vacation ClubBerhad, SILKHoldings include Sunway Centre Medical Berhad, Sunway Current directorships inotherpubliccompanies the Board. Cheah Fook LingintheExecutive Committee of well asthealternate to Tan Dato’ Sri DrJeffrey Seri Employees’ Share Committee OptionScheme as ofthe asaMember March 1996andalsoserves Appointed to theBoard on28 ofSunCity company Group. wassoldto Arab-Malaysian 2002whenthefinance its nomineeuntilJanuary of MBfFinance by as BankNegaraMalaysia Berhad same monthin1999,wasappointed asChairman untilhisretirement the Berhad inJune1999.In Executive ofStandard BankMalaysia Chartered appointed asExecutive Chief Director/Deputy Europe, andSingapore. 1994,was HongKong In secondments to theBank’s branchesinLondon, capacitiesincluding invarious 1964 andserved in Standard Berhad BankMalaysia Chartered industry. Joined inthebanking of experience withmore ofBankers than39years Institute Aged oftheAustralian 71andaMember Malaysian ExecutiveNon-Independent Director ExecutiveDeputy Chairman, MHashim Datuk Razman Malaysian ExecutiveNon-Independent Director Development, International Managing Director -Property Ngian Siew Siong financial period. Attended allofthe8Board heldinthe Meetings Has nodirectorships inotherpubliccompanies. Committee. Board andEmployees’ Share OptionScheme of theExecutivea Member Committee ofthe Committee Management aswellof theRisk as asChairman 1994andalsoserves December Appointed to theBoardon29 ofSunCity March 2010. on19 International Development, Property Was redesignated asManaging Director – 2001and26August 2004respectively.1 October on Managing Director Development –Property promoted ManagingDirector and to Deputy 1996.Subsequently Executive Director inJanuary seniorpostsbeforevarious beingpromoted to in1985asProjectSunCity andheld Manager Holdings Bhdbefore joiningSunCity. Joined Was ofMBf theRegional OperationsManager development industry. with 29yearsintheproperty ofexperience ofLeeds,University in1976 United Kingdom Degree (Honours)inCivilEngineering from Aged 58andattainedaBachelorofScience 51 Directors of Board of Profile Sunway City Berhad Annual Report 2009 Directors Profileof Board of Board 52

Sunway City Berhad Annual Report 2009 financial period. Attended all ofthe8Board heldinthe Meetings Vacation ClubBerhad. Sunway Centre Medical andSunway Berhad International Current directorships inotherpubliccompaniesinclude Share Committee. OptionScheme the Board, Committee Management andEmployees’ Risk oftheExecutive asaMember Committee of also serves Appointed 1997and to theBoardon21April ofSunCity management componentsofSunCity. retail, commercial, hospitality, leisure andotherasset manages theinvestment whichincludes portfolio convention, exhibition,shoppingandoffices. Currently Singapore’s largest mixed-use private projectscomprising team inthe developmentof thepioneering ofone PteLater Development Ltd joinedSuntec City aspart class hotels, shoppingmallandofficesin Singapore. 3international- development comprising waterfront Square,developer andmanagerofMarina amixed-use Singapore Centre to joinMarina HoldingsPte Ltd, the Bhd, thedeveloper of The Mall. Subsequentlymoved to Wang Plaza, Hotel Regent andMetroplex HoldingsSdn HoldingsBhd,Landmarks thedeveloper owner ofSungei of mixed-use developments. Beganhiscareer with inthe development andmanagement wide experience Buildings Association andSingapore. inbothMalaysia Has Was theFounder President oftheShopping andHighrise development andinvestment, andmanagementindustry. inproperty experience Has 29years ofworking Shopping Centres. Council of oftheInternational (“MAHO”) andaMember Association oftheMalaysian ofHotelMember Owners Zealand. New ofAuckland, University IsaCouncil inBusiness StudiesandEconomics frommajoring Aged 57andholdsaBachelorofCommerce Degree Malaysian ExecutiveNon-Independent Director InvestmentManaging Director -Property Ngeow Voon Yean financial period. ashewasappointed the after financial period Did notattend any Board heldinthe Meeting Has nodirectorships inotherpubliccompanies. 19 March 2010. Appointed to theBoardon ofSunCity since1989. Malaysia since1988andtheBoardMalaysia ofEngineers, ofEngineers, oftheInstitution been aMember Development in2005.Has –Officer Property Subsequently promoted to ChiefOperating ofSunCity. Bhd,Sdn a60%owned subsidiary and alsoaBoard ofSunway Member Damansara then appointed astheUnitProfit CentreManager asanAssistant Manager. General SunCity Was of Companies from 1988until1994before joining UnitedJoined Group Engineers Berhad Malaysia Highway project. South involved intheNorth with EsaJurutera Perunding Bhdandwas Sdn hisprofessionalStarted career asanengineer development industry. with over 14yearsintheproperty ofexperience (Honours) from Malaysia ofMalaya, University Aged 49andholdsaBachelorofEngineering Malaysian ExecutiveNon-Independent Director Development, Malaysia Managing Director -Property Ho HonSang financial period. Attended allofthe8Board heldinthe Meetings Has nodirectorships inotherpubliccompanies. Committee oftheBoard. oftheExecutive asaMember 2002 andalsoserves Appointed to theBoardon6March ofSunCity EstateReal Pte Ltd in1997. before Investment Management Suncorp hejoinedGIC to 1995andaPortfolio Manager, Divisionin Property Director Lang ofJones Wootton Australia from 1989 Valuers Former andSingapore ofSurveyors. Institute the goldmedalswon from theSingapore of Institute of theCFA Institute. Amonghisachievements were Financiala Chartered Analyst(“CFA”) andaMember of Singapore Investment Pte Corporation Ltd. Also Pte Ltd, thereal estate investment ofGovernment arm Currently istheManagingDirector Estate ofGICReal of University Virginia, United States ofAmerica. Administration from Darden ofBusiness, School ofSingaporeUniversity ofBusiness andaMaster ClassHonoursDegree Second Management) from Aged (Estate 56andholdsaBachelorofScience Singaporean Non-ExecutiveNon-Independent Director Lim Swe Guan financial period. Attended all ofthe8Board heldinthe Meetings Berhad.(Malaysia) andUniversalPhillip Berhad Mutual Trustee Berhad, (M)Berhad, APPIndustries Industries Berhad, Sapura Gamuda Technology Berhad, Hume include Sunway International Vacation Club Berhad, Current directorships inotherpubliccompanies Committees.Nomination andRemuneration oftheAudit, asChairman 1990 andalsoserves Appointed to theBoardon1November ofSunCity Government in1990. of Public Works, in1985.Retired Malaysia from the Branch levels, wasappointed asDirector-General State and postsatDistrict, holdingvarious after Public in1959and Malaysia Works Department, hiscareer asaCivilEngineer withthe Started ofDirectors inJuly2007. Institute Malaysian since 1976. Was conferred afellowship by the ofManagement Institute oftheMalaysian Member Consulting Engineers, since1990.Alsoa Malaysia oftheAssociationsince 1990andaMember of Highways and Transportation, United Kingdom since1989;FellowKingdom of oftheInstitution Fellow ofCivilEngineers, ofthe Institution United Engineering Council, since1989; United Kingdom Engineer registered1979; Chartered withthe ofEngineers,of theInstitution since Malaysia Board ofEngineers, since1974;Fellow Malaysia A Professional Engineer registered withthe in1976. Manila ofManagement, Asian Institute from inManagement in 1959andaMaster withaDiplomainCivilEngineering Kingdom graduated from Brighton Technical College, United Aged 74,aCivilEngineer by profession and Malaysian Non-Executive Independent Senior Director Hashim Haji Mohd Tan SriDato’ Ir Talha Bin 53 Directors of Board Profileof Sunway City Berhad Annual Report 2009 Directors Profileof Board of Board 54

Sunway City Berhad Annual Report 2009 financial period. Attended 7outofthe8Board heldinthe Meetings Malaysia. Has nodirectorships inotherpubliccompanies Committees.Nomination andRemuneration oftheAudit, asaMember 2001 andalsoserves Appointed to theBoardon18April ofSunCity in Arts Transit by LTA. Design Panel of StationsandaMember onMRT of Land Transport (“LTA”)’s Authority Architectural andalsositsontheBoard Institution Chai Medical Singapore Dance Theatre, of Vice-Chairman Thong Director Board ofPreservation Monuments and Board, ofSingapore Chairman Philatelic Museum, ofNationalHeritage was appointed asaMember listed company in Singapore. August 2005, In of Popular HoldingsLimited whichisapublic Is aDirector ofPopular LandPte Ltd, asubsidiary China,Australia,Malaysia, UKandSweden. residential, inSingapore, andhospitality industrial investment suchascommercial, holdinginsectors development and companies rangefrom property of Tong EngGroup. The businessesofthese of HongHow Group ofCompanies and Director Presently andManagingDirector istheChairman Estate Real Institute. oftheInternational Manager APA (Planning Bodies)andaRegistered Property (Architectural Bodies),Associate ofSIPand Member Australia. ofSIA,RIBA,FRAIAandAPAM AMember (Honours) Degree from ofMelbourne, University Aged 67andholdsaBachelorofArchitecture Singaporean Non-ExecutiveIndependent Director Teo Tong How financial period. Attended all ofthe8Board heldinthe Meetings Berhad). Corporation asAmsteel (formerlyknown Resources Berhad and ACB Berhad include BankofChina(Malaysia) Current directorships inotherpubliccompanies the Audit andNominationCommittees. of asaMember November 2001andalsoserves Appointed to theBoardon26 ofSunCity Non-Executive Director. asanIndependent Berhad Bank ofChina(Malaysia) 2000,joined from April Berhad 1997to 1999.In Director andAdviser inAsia Commercial Finance were in1994.Alsoformer inMalaysia incorporated to Lee 1997after Wah operations BankMalaysia for Bank(M)Berhad from theperiod Overseas 1994 Director in United andChiefExecutive Officer Malaysian operationsin1975. for Officer Former was promoted to Director andChiefExecutive and Central ofMalaysia Office 1973 asManager to 1973respectively. Lee Joined Wah BankLtd in Bank for from theperiod 1969 to 1971and andChungKhiaw Corporation Chinese Banking Auditor for operationsinOverseas Malaysian industry. Former in thebanking ChiefInternal Lybrand, KualaLumpur. Hasextensive experience Lybrand, Sydney andlater secondedto Coopers & hiscareer asanAuditorStarted inCoopers & Public ofCertified Accountants.Institute & Administrators oftheMalaysian andaMember Secretaries ofChartered oftheInstitute Member Accountants,of Chartered Australia, Associate Australia. AnAssociate oftheInstitute Member Degree from South ofNew University Wales, Aged 69andholdsaBachelorofCommerce Malaysian Non-ExecutiveIndependent Director Tan Siak Tee the financialperiod. Attended 7outofthe8Board heldin Meetings Has nodirectorships inotherpubliccompanies. 1999. 3 December Appointed to theBoardon ofSunCity BesarIncorporated. Menteri under Selangor 2008 untilMarch 2009.Currently istheAdvisor ofPKNSfrom Manager Novemberas theGeneral (Corporate Manager Affairs) ofPKNSandwasacting for 4years. Was General formerlytheDeputy to sector, withtheprivate work IGBandIJMGroup 1990,wasseconded positions. managerial In various (“PKNS”) Selangor in1973andhadsinceheld Negeri career withPerbadanan her working Kemajuan of accounting, financeandadministration.Started Has more than36yearsintheareas ofexperience ofAccountants. Institute Malaysian accountant by profession ofthe andaMember Graduate) from An Malaysia. ofMalaya, University (Accounting) (Post and aDiplomainAccountancy Aged 60andholdsaBachelorofEconomics Malaysian Non-ExecutiveIndependent Director Datin Paduka Low Siew Moi 2. 1. NOTES:

4. 3.

(a) Interest of Conflict any director and/ormajorshareholder ofSunCity. None oftheDirectors hasany familyrelationship with Shareholder Family RelationshipwithDirector and/orMajor (d) (b) Statement. isdisclosedintheCorporate Governance Meetings The attendance oftheDirectors atBoard ofDirectors’ Attendance ofBoard Meetings within thepast10years otherthantraffic offences, if any. None oftheDirectors hasbeenconvicted for offences Conviction for Offences ofinterest Group.conflict withSunCity Save asdisclosed, noneoftheotherDirectors hasany (c) property development. property Group issimilarto SunCity whichincludes activity its via subsidiaries Sunway Holdings, whose principal He hasdeemedinterest inSunwayMas Bhdand Sdn ShareholderDirector andMajor ofSunway Holdings. Tan Dato’ Sri DrJeffrey Cheah Seri Fook Lingisa SunCity GroupSunCity whichincludeshotel business. issimilarto Hotel Bhd, activity Sdn whoseprincipal Datin Paduka Low isaDirector ofBangi Moi Siew (ii)  and hotel business. investment Group SunCity whichincludeproperty are activities similartoBerhad, whoseprincipal Prestige ofBerjaya Land Bhd, Sdn asubsidiary MHashimisalsoaDirector ofAbsolute Razman development andinvestment holding. Datuk Groupsimilar to SunCity whichincludeproperty are Bhd, activities Sdn whoseprincipal Makmur subsidiary, Selat anditswholly-owned Land Berhad MHashimisaDirector ofBerjaya Datuk Razman (i) development:- Groupto SunCity whichincludesproperty issimilar companies, activity whoseprincipal Lim Swe GuanisaDirector ofthefollowing Singapore. Holdings Limited isapubliclisted company in and Lum ChangHoldingsLimited. Lum Chang venture SungeiLong Reco between Bhd (M)Sdn Fabulous Bhd, Sdn whichisajoint Range is apubliclisted company inMalaysia. Land HoldingsBerhad. RBLandHoldingsBerhad ofRB Bhd,RB LandSdn whichisasubsidiary 55 Directors of Board Profileof Sunway City Berhad Annual Report 2009 Management Profile Of Team 56

Sunway City Berhad Annual Report 2009 Ngian SiewSiong, HanleyChew, OngPang Yen, Cheah Wing Choong, OngGheeBin, Dr Chong Su-Lin, Aaron Soo Boon Choon, Denis Gruhier, Choon,Denis Dr ChongSu-Lin,AaronBoon Soo ChanHoiChoy Ho HonSang, Sarena Cheah Yean Tih, Ngeow Voon Yean, Tan Poh Chan, From to right: left 57 Team Management ProfileOf Sunway City Berhad Annual Report 2009 Management Management Profileof 58 Team

Sunway City Berhad Annual Report 2009 Institute ofAccountantsInstitute (MIA). She isamemberoftheMalaysian current role effective from 2008. 1April beforeHoldings Berhad assumingher divisionofSunwaythe construction She wastheChiefFinancial of Officer 5yearsprivate later. whichwastaken Berhad Construction Finance andtransferred to Sunway promoted - to Manager General 1999,shewas Exchange) in1996.In BoardMain ofKualaLumpur Stock as (formerlyknown of BursaMalaysia Market ontheMain listing ofSunCity leisure andhospitality, aswell asthe investment,development to property expansion oftheGroup from property role sheplayed inthe akey of service, hertenureas anaccountant.During financial advisory, shejoinedSunCity inaudit,taxationand experience industries. After 5years ofworking invarious management expertise more than20years offinancial & at Ernst Young in1984.Shehas Ms Tan Poh hercareer Chanstarted Accountant, MIA Certified ofMalaya; University Bachelor ofAccounting (Honours), Sunway Berhad City Chief Financial Officer Tan Poh Chan Corporate Office Corporate her current positionin2009. division.Sheassumed Development intheProperty Manager General in 2006,becametheSales&Marketing exercisesecuritisation for and SunCity division to leadtheasset-backed she rejoined theCorporate Finance Manager.Development year 2003, In and healthcare divisionsasBusiness upon herreturn, joinedtheeducation BusinessSchool, and at Melbourne to pursueherMBA 2000,sheleft In Auditand Group divisions. Internal her career intheCorporate Finance Sunway Group since1995,starting Ms Sarena Cheahhasbeenwith the BusinessSchool (MBA), Melbourne ofBusiness AdministrationMasters of University Western Australia; (Accounting &Finance), Bachelor ofCommerce Sunway Berhad City Corporate Development Director ofStrategic & Yean Tih Sarena Cheah University ofLondon.University Ong alsohasaLaw Degree from qualified professional engineer,Mr andAustralia. Africa South A projects inCambodia, Zimbabwe, Group’s pioneeroverseas investment involvedhe wassoonactively inthe Jayain theSeberang Town Centre, in theGroup Engineer asaResident hiscareerjoining SunCity. Starting forWorks 8years before Department Pang Yen inthePublic hasserved Ong from Mr ofMalaya, University A graduate inCivilEngineering ofLondonLLB (Honours),University ofMalaya; University in CivilEngineering, Bachelor ofEngineering (Honours) Sunway Berhad City Division International – Manager General Senior Ong Pang Yen Division Development Property undertaken by theGroup. undertaken and alsotheinvestment projects development projectsinKlang Valley currently overseeing alltheproperty and Sunway PyramidExpansion.Heis Sunway University Monash Campus Pyramid, Sunway Quay, South Sunway College, University Sunway Sunway Cheras, Sunway, Menara SunwaySunway Ipoh, Semenyih, City development, City Integrated Resort he managedwere theSunway oftheprojects in1989.Some SunCity to joining prior engineering firm consultant with acivil&structural OngGheeBinspent4years Mr Accounting andFinance Diplomain Certified ofMalaya; University in CivilEngineering, Bachelor ofEngineering (Honours) Sunway Berhad City Manager General Senior Ong GheeBin 59 Team Management Profileof Sunway City Berhad Annual Report 2009 Management Management Profile Of ProfileOf 60 Team

Sunway City Berhad Annual Report 2009 Selangor Branch. Selangor ofREHDA, Chairman as well astheDeputy AssociationHousing Developers (“REHDA”) Estate ofthe Real and Secretary-General in2009.Heiscurrently theDeputy SunCity beforein Officer assuminghiscurrent role astheChiefOperating Berhad Corporation Hethenjoined Management. Tradewinds Manager,years General astheSenior Asset & Tan Group Developments/IGB for 15 Consultants for 2years before joining Tan for 8years; Surveyors PeatChartered Marwick & Co withRahim consultancy property University of Bath, England. He was in Masters in Business Administration at the Heriot-Watt University, Scotland and atthe (EstateScience Management) Heobtained hisBachelorof Malaysia. a Fellow of the Institution ofSurveyors, and United Kingdom Surveyors, Chartered of withtheRoyalInstitution Surveyor Cheah Mr Wing ChoongisaChartered Surveryor Chartered ofBath,England; University ofBusiness AdministrationMasters (MBA), Heriot-Watt University, Scotland; (EstateBachelor ofScience Management) Sunway Berhad City Investment Division Property - Chief OperatingOfficer Cheah Wing Choong Division Investment Property the Vice-President for PPK. Heiscurrently (“PPK”). Management Complex Shopping andHighrise Associationwith theMalaysian for office-bearer forthelast15 years joining SunCity. Hehasbeenan and Sungei Wang Plaza before as Times Square), Berjaya Megamall Berjaya Starcity(presently known has heldseveral seniorpositionsin the commercial retail industry. He more than25yearsin ofexperience ChanHoiChoy haswithhim Mr United Kingdom Birmingham, Studies, ofAston, University andAdministrativeManagerial (Honours)in Bachelor ofScience Sunway Bhd PyramidSdn Chief Executive Officer Chan HoiChoy Property Investment Property Tambun, Ipoh. Sunway LagoonandLost World of Bhd.Lagoon Sdn Henow oversees to ofSunway ChiefExecutive Officer on 1March 2006,hewaspromoted divisions inSunCity. Subsequently of theLeisure andHospitality promoted Manager to General Senior On 1November 2005, hewas ofthehotels. the performance tremendously well inimproving Jaya, Penang, andhaddone Hotels inGeorgetown andSeberang in2002to manageSunwaySunCity China in1997till1998.Hejoined ofSunwayManager Hotel, Shenzhen, Group in1996andwastheGeneral AaronfirstjoinedSunway Soo Mr ofBath,UnitedUniversity Kingdom Administration (MBA)from MIM- ofBusiness Masters Sunway Bhd LagoonSdn Chief Executive Officer Boon Choon Aaron Soo Leisure Management. Management. a BachelorDegree inBusiness inaddition to and certifications holds several professional degrees he English, SpanishandGerman, multilingual whoisfluentin French, City.Sunway A Integrated Resort multiple hotel development in -the1,234-room Hotels &Resorts he oversees theflagship ofSunway Asia. As Group Manager, General aswell theCaribbean as America, chains inEurope,andSouth North regional roles atdynamichotel experience. Hehasheld hospitality withhimoverbrings 35years of Gruhier, Denis Mr aFrench national, Bachelor ofBusinessManagement Hotel &Spa Sunway Resort Group Manager General Gruhier Denis Hospitality brands report to him. brands report general managersoftherespective functions, regional headsandhotel withintheregion.contracts Allglobal management development ofnew rolebrands. inthe Healsohasakey within theSunway andAllson for themanagementofallhotels joined SunCity. Heisresponsible a role hetook onin2002whenhe President -BusinessDevelopment, He lastheldthepositionof Vice- andlocalhotelinternational chains. positionswith a numberofkey SunCity, having spent20years in to experience and travel industry vasthotel brings Chew Hanley Mr Administrators (ICSA),London & Secretaries ofChartered Institute Practices andFinancial Accounting, Degree inCompany Secretarial Hotels &Resorts Sunway International Chief Executive Officer Chew Hanley Hospitality sits ontheAPHMBoard. (APHM).of Malaysia Shecurrently the Association ofPrivate Hospitals to Secretary was theex-Honorary (IMU).DrChong University Medical Director for theInternational and2years asProject Services astheDirector ofAncillary (SJMC) Centre4 years inSubangMedical inEngland. Shespent consultancy Consultant Pharmacy atCambridge before becomingaManagement (NHS)UK National HealthService forpractitioner 6years atthe Dr ChongSu-Linwasamedical (MBA), London ofBusiness AdministrationMasters MBBS London; Sunway Centre Medical Berhad Chief Executive Officer Dr ChongSu-Lin Healthcare 61 Team Management Profileof Sunway City Berhad Annual Report 2009 Key Business Segments Property Development 66 Property Investment 74 Hospitality 78 Leisure 82 Healthcare 86

The happy children represent our 5 fast-growing and healthy divisions. Segments Business Key 64

Sunway City Berhad Annual Report 2009 Development Property Investment Property Leisure Hospitality Healthcare 65 Segments Business Key Sunway City Berhad Annual Report 2009 Turnover RM543 million Operating Profit RM112 million Property Development Launches RM157 million Sales RM550 million

Providing a green environment for children as part of our LOHAS philosophy. RM12.7 billion. of gross development value(“GDV”) landbank of1,458acres withanestimated has anundeveloped 2010, SunCity good valueappreciation. As at30April to enjoy has alsoenableditsproperties properties to high-end middle-upper developments ranging from middle, multiple andstrategically located SunCity’s business modelofhaving sanctuary. comfortable asafefrom homebuyers and seeking Valley have enjoyed positive response result ofthis, theGroup’s projectsinKlang oflifeand holisticquality for families. As a lifestyle, thiswillcreate awell-balanced which promotes ahealthy andsustainable (“LOHAS”)and Sustainability philosophy mentionedLifestyles ofHealth earlier andthe livability projects. prioritising By development its residential property andrecreationeducation, mobility in emphasising theneedfor safety, health, by atop priority livability goal to make The Group isalsostrongly drivenby its to itsvaluedcustomers. services productsand a widerangeofquality heights ofexcellence by introducing with the Group’s mission to achieve greater developer.property This isgreatly aligned a premier regional andinternational strategies to reinforce its positionas continued to implementinnovative For underreview, theperiod SunCity Introduction An aerial viewofSunwayAn aerial Quay, South thelakesidemetropolis. Damansara andSunway Avenue. Surian Palazzio, Villa @Sunway Manja SPK that includeSunway Vivaldi, Sunway exclusive retail andcommercial projects by asevidenced properties deliver quality initsquestto nostone unturned left underreview, theperiod During theGroup development projects. property new with countries, namelyChinaandIndia reach in2oftheworld’s most populous On thismatter, hasexpandedits SunCity real estate player. developer to anintegratedproperty global aspiresas SunCity to transform from alocal agenda become anincreasingly important Establishing apresence overseas has also achieve positive andsustainedgrowth. portfolios andlocalproperty international Group’s focus to ensure thatboththe The changeinmanagementreflectsthe ofSunCity. International Development, now betheManagingDirector -Property will ofSunCity Development Property was formerlytheManagingDirector - Ngian Siong, Siew 2010 whileMr who effective Malaysia MarchDevelopment, 19 ManagingDirector as itsnew -Property HoHon Sang hasappointed Mr SunCity Change inManagement 67 Development Property Segments Business Key Sunway City Berhad Annual Report 2009 Development Segments Property Property Business 68 Key Key

Sunway City Berhad Annual Report 2009 approximately 350,000residents. township willbeamodern for Eco-City TEDA Investment HoldingCo. Ltd. Tianjin ledby a Chineseconsortium Tianjin Group ledby Keppel and consortium 50:50 jointventure aSingapore between ChinaandSingapore.between SSTECisa Government mixed development project isaGovernment-to- Tianjin Eco-City with SunCity. SSTEC to explore potential collaborations the master developer of Tianjin Eco-City, sustainable development thatfirstattracted isthiscommoncommitmentto accolades. It many localandinternational SunCity haswonwinning integrated city resort 800-acre miningsite into avibrantaward- The successfulrehabilitation ofthedesolate for sustainabledevelopment. Mostimportantly,efficient. itwillbeamodel environmentally-friendly andresource whichissociallyharmonious, city thriving in China. ideaisto promoteThe key a kind project City, itthefirstofits making development inthe7,413-acre Tianjin Eco- the LOHAS philosophy into its102-acre of5years.period willalsointroduce SunCity toand isexpected bedeveloped over a This projectwillhave ofRM5billion aGDV 2009. that wassignedinOctober earlier follows ofUnderstanding theMemorandum Co.and Development Ltd (“SSTEC”). This Sino-Singapore Investment Tianjin Eco-City withthemaster developer,Tianjin Eco-City Agreement in 2010to participate inApril hassigned aCollaborationSunCity International Key Developments The reception modern ofSunway GuanghaoinJiangyin,China. international property market. property international to tapinto thepromising opportunity will present the Group with another lucrative growth too thatChinaisexperiencing, India Similar to theeconomicandpopulation ofAmeenpur,the suburb Hyderabad. development setamidstalushlandscapein Grand Residency, anexclusive 30-acre to develop Sunwayin India Opus &BuildersPrivateDevelopers Limited withOpus onapartnership embarked from thisproject,theGroup also Apart Hardware Park. and Airport International Gandhi Rajiv andwithincloseproximity ofthe India growing ofHyderabad, corridor southern 3 to isstrategically 5years. located inthe It completed inseveral phasesover thenext and condominiumsunitsthatwould be This projectwillconsistofbothlow-rise guarded inHyderabad. community Banyan Tree gated and Retreat, aworld-class flagship developments thatincludethe developerMAK with isareputable property with MAK Projects Private Limited (“MAK”). venture development inHyderabad, India onajoint hadalsoembarked SunCity isfullycompleted. the businessdistrict will have amenitiesonce accessto allurban administration centre, Sunway Guanghao City,Harbour JiangyinGovernment anew oftheJiangyinNew central businessdistrict ofRM492million.Locateda GDV withinthe The 17-acre Sunway Guanghaoprojecthas shops.condominiums andspecialty mediumto high-end comprising inJiangyin,China, firstproperty its very willbedeveloping addition,SunCity In dwellers the opportunity to enjoy the dwellers theopportunity condominium unitsandoffers city 228 development comprises density salesoffice.2009 atthenew This low- launchwasorganiseda soft inJune is oneoftheGroup’s projectsand key 7.7 acres offreehold Kiara landinMont Sunway Vivaldi, whichissituated on Villa @Sunway Manja SPKDamansara. Quay, Sunway and Vivaldi Kiara atMont Garden Waterfront Villas atSunway South end developments suchasBayRocks was madeavailable for theGroup’s high- completion. 24 monthsafter This package andzeroconstruction payment for upto also enjoy zero-interest payment during to pay 5%to 10%asdownpayment. They Under thescheme, purchasers are able potential savings. first loandrawdown, thus resulting in of theloanfor upto 60monthsfrom the amount theprincipal not needto service schemeisthatpurchasers do made-easy One uniquefeature oftheownership- buyers andboostsales. property to attract introduced the Triple 2009 inApril ZSeries On thelocalfront, theGroup had Malaysia Sunway Vivaldi’s doublevolume livinghall, asymphony ofluxury. ventilation. that welcomes naturallightingandcool featureshouses. It anopenconceptdesign Ara, Penang andconsistsof2½-storey link landed development located inSungai in Bayan Baru. Sunway isafreehold Merica 2009atitssalesoffice launch inDecember Penang,In Sunway haditsofficial Merica to purchasers. Damansara issetto behandedover soon heater system. Villa @Sunway Manja SPK conditioners aswell asasolarwater- air andeco-friendly as energy-efficient environmentally facilitiessuch friendly presents innovative It designs and park. environment withacentralrecreation meticulously designed withinaguarded feet built-up area. The development is detached houseswitha3,948square Damansara consistsoffreehold semi- Damansara, located inSunway SPK Additionally, Villa @Sunway Manja SPK and comfort. homebuyers convenience withunrivalled facilitiesto provideequipped withmodern isalsofully living. It ofresort-style luxury 69 Development Property Segments Business Key Sunway City Berhad Annual Report 2009 Development Segments Property Property Business 70 Key Key

Sunway City Berhad Annual Report 2009 certification. certification. to receive a BCAGreenthe country Mark first landed residential development in Sunway Damansaraalsobecamethe garden townhouse development in Sunway ChallisDamansara,anexclusive innovation. andenvironmentalquality protection and management; goodindoorenvironmental site/projectdevelopment and efficiency; water energy criteria: efficiency; on 5key receive thecoveted award whichisbased residential development to inMalaysia Sunway Palazzio isthefirsthigh-rise (Green BuildingDesign). Provisional) Scheme inBCAGreen Mark – Development Residential (High-Rise awarded theprestigious Award Gold rewardedrichly asSunway Palazzio was The Group’s ingoing green efforts were operation andmaintenance costs. use ofenergy andwater, leadingto lower building includecostsavings from efficient buildings. The benefits of aGreenMark sustainable andenvironmentally friendly strategic programme to raiseawareness of 2005asakey introduced inJanuary (“BCA”)Authority was Green Mark The Singapore’s BuildingandConstruction Awards andAccolades Luxurious livinginSunway Quay. South development. property indeveloping aworld-class expertise achievement andreflectstheGroup’s this award wasanotherlandmark sponsored by CNBC Television. Receiving the 2009Asia Pacific Awards,Property in inMalaysia Development Residential ofBest High-Rise winner inthecategory Sunway Palazzio asa wasalsoselected will enjoy greater appreciation invalue. development project that eachproperty sustainable lifestyle. This willhelpensure features initsprojectsto promote a moreby incorporating innovative green that itwillcontinueto pushthemark developments, pledges SunCity certified ofhavingWith green thedistinction withintheindustry. was practised onthisconceptlongbeforeembarked it green initiatives astheGroup hadalready Group iswidelyregarded asapioneerin concept,the thelivability Supporting certification. BCA Green Mark Sunway Quay South alsoreceived thesame Sunway SuitesVivaldi at andNauticaLake length swimming pool. Sunway Vivaldi’s withanOlympic eco-deck 71 Sunway City Berhad Annual Report 2009 Development Segments Property Property Business 72 Key Key

Sunway City Berhad Annual Report 2009 development comprising service service development comprising include Sunway Velocity, an integrated For launchesinthepipeline Malaysia, of groundbreaking projectsinthefuture. buyers withitsstring moreattract property record, theGroup iswell onitsway to wealth andproven ofexperience track front.and international With theGroup’s bothonthelocal and leisure properties to develop itsresidential, retail, commercial The Group willremain focused initsplans Future Plans environmentcomfortable for itsresidents. developer, theGroup willcreate asafe and buildings. master As aleadingcommunity purchasers to improve themanagementof theGroupand engagementbetween and interaction meetings to encouragefurther The JMB Committee alsoheldnumerous buildings andcommonproperties. with purchasers to jointlymanage Bodies (“JMB”) continuedto collaborate the formation Management ofitsJoint responsible developer, theGroup through Staying trueto itscommitment ofbeinga DeveloperResponsible environmentally friendly. that are and functional,cost-effective facilitate the development ofbuildings developments. property will This inturn initsfuturelandscaping practices also plansto implementsustainable to help efforts green thecity. The Group ofits projectsaspart more eco-friendly committed initsquestto develop forward,Moving theGroup willremain developments. property and exciting world-class its presence withthelaunchofnew is confidentthatitwillstrengthen regards theGroup to ChinaandIndia, bungalows inSunway Damansara. With in Sunway Quay South andzero-lot properties launchesincludeluxury Other withinaweek ofitslaunch. booked whereby 80%ofthehomeshave been landscaped garden upto 70feet wide freehold development thatfacesalinear launched Sunway a SPK3Harmoni, also seesgreat potential intherecently of KualaLumpur centre. city The Group outdoor retail spaceslocated inthesouth alifestyle shoppingmalland apartments, Sunway Clubhouse, SPK3Harmoni providing itsresidents withahealthy andsustainablelifestyle. An overview ofSunwayAn overview Velocity, SunCity’s integrated next development. Development Property Segment Business Key 73 Sunway City Berhad Annual Report 2009 A unique 360-degree shopping experience in SunwayPyramid. in experience shopping 360-degree unique A Investment Property 74

Sunway City Berhad Annual Report 2009 TotalAreaLettable Net Occupancy Rate Rate Occupancy RM Profit Operating 4.86 100 RM Turnover 992 410 % million square feetsquare million million million drive-through recycling buy-back kiosk. buy-backkiosk. recycling drive-through Sunway alsohasa Hotel Jaya. Seberang It andthenearby shoppers to thecarpark to ferry introduction ofamallbuggyservice the shopping freshkept experience with the gross built-up area of800,000square feet, 155 outletsandaconvention centre witha experience. The 4-storey mallwhichhouses to enhancetheshopping added services by introducing strides more value making Jaya,at Seberang Penang continued Sunway Carnival Shopping Mall, located visitation level of3millionvisitors monthly. interpretations continuedto pullahigh inspired architecture withcontemporary its lionhead, themall’s prevailing Egyptian- mall. Easilyrecognisedentertainment by most popularthemedshoppingand remained biggest, City asthecountry’s situated atSunway Integrated Resort remarkably. The iconicretail landmark net lettablearea) continuedto perform gross floorarea (1.7millionsquare feet of gross built-up of4.3millionsquare feet of back in2007thatsaw thecreation ofatotal having completed a significant expansion SunCity. flagshipmall, Sunway Its Pyramid, for steadythe divisioncontributed earnings and challenging operatingenvironment, Amidst theglobaleconomicslowdown Introduction Sunway Pyramid, SunCity’s flagship award-winning shoppingmall. introduced. floor andahighlyvisible retail spacewas redefined atthe ground andmezzanine wasredesigned,The atrium spaceswere equipped withenergy-saving features. and lobby isnow fullyair-conditioned received andthe amuch-neededfacelift refurbishment includesthefacadewhich completed in2009. The RM16-million Sunway Tower 2’s refurbishment was Petaling Jaya. the residential catchment ofDamansaraand to catering beverage, andlifestyle services square feet. This malloffers various food and 66 outletscovers agross built-up of160,000 2009, the3-storey mallwith neighbourhood managed by SunCity. OpenedinDecember Damansara,Selangor located inKota Sunway retail isaspecialty centre Giza 75 Investment Property Segments Business Key Sunway City Berhad Annual Report 2009 Investment Segments Property Property Business 76 Key Key

Sunway City Berhad Annual Report 2009 5. 4. 3. 2. 1. Key Achievements Sunway mallwith neighbourhood Giza,aspecialty Village Grocer asitsanchortenant. Ministry of TourismMinistry Malaysia. 2009organisedSale Carnival by the Mega attheMalaysia category) Mall Award”Thematic Decoration (Suburban Sunway Pyramidwon the “Best Professor Philip Kotler. by theFather Marketing, ofModern category). The award waspresented Best Customer Service” (ShoppingMall Award 2009- “MY BrandedService Sunway Pyramidclinchedtheinaugural Government. ofHousingandLocal by theMinistry Award”Gold category) (ShoppingMall won wasthe “National Quality Toilet in thecountry. Amongtheaccolades been recognised asoneofthebest Sunway Pyramid’s publicfacilitieshad fromentries allover Asia. was oneoftheonly2winnersthatsaw Council of ShoppingCentres. The mall awarded by International category) or expansionofanexistingproject Silver Award (undertherenovation Asia ShoppingCentre Awards 2008, Sunway Pyramidwon theInaugural and Petaling Jaya. catchment ofDamansara neighbouring tailored to meetthelifestyle ofthe specially products andservices the Damansaratownship offering shopping centre openeditsdoorin Sunway Giza,aneighbourhood 2. 1. Future Plans 6. headquarters). Sunwayto Menara (Sunway Group’s 25-storey officebuildingadjacent adjoining Sunway Pyramidanda bays building and1,027parking 28-storey mixed usecommercial toPlans develop a are underway Sunway Tower 2. remaining parcel oflandadjacentto officebuildingonthe another prime ofSunwayDevelopment Tower 1, square feet andisnow 100%tenanted. the tower’s rental rose to RM5.50per office tower.After the refurbishment, transforming itto a33-storey prime a RM16millionrefurbishment in2009 2010. January The buildingunderwent waslaunchedon15 Wisma Denmark) Sunway Tower as 2(formerlyknown Natural lighting at Sunway Giza. Sunway Tower 1. The futuristic Sunway Tower 2. The newlylaunched 77 Sunway City Berhad Annual Report 2009 A refreshing experience at theaward-winning Hotel Sunway &Spa. Resort Hospitality 78

Sunway City Berhad Annual Report 2009 No. of Hotels of No. RM ProfitOperating 3,400 16 RM Turnover No. of Guestrooms of No. 53 289 hotels and resorts and hotels million million marketing affiliationservices. marketing franchisemanagementandhotel services, range hotels, travel to technical services, 4and3-star apartments, villas, serviced meeting andexhibitionfacilities, luxurious convention,5-star hotels withworld-class ranging from products andservices ofhospitality manages acollection Sunway Hotels &Resorts International and Malaysia Indonesia, Vietnam. citiesinCambodia, China, and secondary Retreat inprimary Banjaran Hotsprings and AllsonHotels &Resort The& Resorts, and/or franchisedhotels; Sunway Hotels through ourbrandsofowned, managed andmemorableexperiences satisfaction exceptionalextending customer andrecognisedto stakeholders for returnsattractive andcapitalappreciation groups drivenby avisionofproviding services management andcorporate is oneofAsia’s leadinghospitality Sunway Hotels &Resorts International Introduction city centre.city City, minutes away from KualaLumpur the 800-acre ofSunway Integrated Resort with 1,234guestrooms alllocated within Hotel hotels &Spa,boastingtwo Resort Sunway flagship isthemulti-property Sunway Hotels &Resorts’ International human resources management. communications, food andbeverage and brand services, sales andmarketing infinancialoperations, support with managementandfullregional benefits from continuouscommunication operating practices.Eachhotel property management andatalentfor profitable managementsystems, depthof property informationcentric technology systems, boastofoperationally- properties Sunway Hotels &Resorts International expertise, culinary with world-class service hospitality Combining superior Evening Hotel view of Sunway &Spa. Resort 79 Hospitality Segments Business Key Sunway City Berhad Annual Report 2009 Hospitality Segments Business 80 Key Key

Sunway City Berhad Annual Report 2009 2. 1. Key Achievements Private villasat The Banjaran Retreat, Hotsprings complete withitsown pool. future expansion into China. grouphospitality to set itssightson Zhongshan, China,thusallowing the DiamondHotel,manage theGolden by (China) Perfect Co.Resorts Ltd to of SunwayHotels & International The year 2009saw theappointment hotsprings. andgeothermal caves, waterfalls oldest junglesintheworld, natural landscape issurrounded by oneofthe of towering hills. The indigenous on a56-acre fringing acluster valley offering wellness therapies, issituated 25villasandaholisticspa comprising wellness retreat Perak, the eco-luxury Retreat. Located in Tambun, Ipoh, retreat, The BanjaranHotsprings wellness completion ofitsfirstluxury groupThe hospitality alsosaw the 3. 2. 1. Future Plans the secondhalfof2010. willcommencein Park. Construction within Lost World of Tambun Theme integrated oflive experience andplay Hotel isaimedto provide visitors an development ofSunway Lost World of theSunway Lost World Hotel. The Year 2010willseethedevelopment butlerservice. andprivate privileges Presidential Suite willenjoy ClubFloor relaxing Guestsofthe andentertaining. amounts ofspacefor living, stylish assures distinguishedguestsgenerous suite exuding exclusivityandprivacy cosmopolitan luxury. The magnificent Suite, epitomising theultimate in unveil itsrefurbished Presidential Hotel &Spawill Sunway Resort which offers cuisine. international overall atthisoutlet diningexperience redefining the andfood quality; service focusing significantly onambience, Café willintroduce concept, anew Hotel &Spa’sSunway Resort Sun&Surf Serene natural backdrop surroundings at provide theperfect The Banjaran Retreat. Hotsprings 81 Sunway City Berhad Annual Report 2009 Endless spills and thrills atEndless spillsandthrills Sunway Lagoon. Leisure 82

Sunway City Berhad Annual Report 2009 Visitorship ParkSize RM ProfitOperating 2.3 100 RM Turnover 35 184 million acres million million Sunway Lagoon Wildlife Park providing children anupcloseandpersonalexperience withtheanimals. destination inMalaysia. being recreated to beapopularthemepark forestWhat wasonceanunknown hasnow surrounding oflimestone hillsandenclaves. thatiscarefullypark blendedwithits called Lost World of Tambun, afullythemed Another leisure isin landmark Tambun, Ipoh events. and prestigious concerts andinternational and Scream Park; andfor of hostingastring Amusement Park, Wildlife Park,Park Extreme its 5themedsignature – parks Water Park, recognition asavenue for non-stop funwith Sunway Lagoonhasgainedinternational Parks (IAAPA). &Attractions Association ofAmusement the International consecutive years (2007to 2009) awarded by prestigious ‘Asia’s BestAttraction’ award for 3 to intheworld haveattraction won the isalsotheonly It attraction. multi-park Sunway LagoonisMalaysia’s mosticonic Introduction 2. 1. Key Achievements the country. of themostpopulartravel magazinesin forMagazine thesecondtimefrom one ‘Best Theme Park Attraction’ by LIBUR Sunway Lagoonscored theaward for achieved itfor 3consecutive years. to intheworld havethe onlyattraction since 2007by IAAPA andto date itis Best Attraction’ award for thethird time Sunway Lagoonwon thecoveted ‘Asia’s 8. 7. 6. 5. 4. 3. and spills of the various rides atnight. rides and spillsofthevarious 11pm. Park-goers cannow enjoy thethrills introducing Park Nite whichopenstill Amusement Park andScream Park by leaseoflifeA new wasaddedto the of limestone hills. jungle environment, againstabackdrop is uniquelycreated withinthenatural covers anarea of80,000square feet and to thepublic inendof2009. The zoo Lost World Petting Zoo openeditsdoors to spendtheirday.seekers Shooting’ for thrill urban range, perfect a Track’‘Go-Kart and ‘Archery Target Sunway Park LagoonExtreme added concert in December 2009. inDecember concert famous R&Bgroup, ‘Earth, Wind &Fire’ Peas’ inSeptember 2009followed by the Celebration featuring The BlackEyed inAugust 2009, concert ‘Arthur’s Day and ‘Eason Chan’s OnStage26’ Moving for World‘MTV StageLIVEinMalaysia Sunway Lagoonwasthevenue ofchoice asylum. gory, out-of-control original productionof Freezer’,‘The a comealive. and artefacts isan The next Smithsonian’ where museuminhabitants 2:Battleofthe attheMuseum ‘Night atScream Park. attractions The firstbeing Sunway Lagoonintroduced new leading lifestyle magazinesinthecountry. Resort’ by Lifestyle, Expatriate oneofthe Sunway Lagoon won ‘Best Family Holiday/ 83 Leisure Segments Business Key Sunway City Berhad Annual Report 2009 Segments Business Leisure 84 Key Key

Sunway City Berhad Annual Report 2009 Putting Malaysia on the world map with the MTV Putting Malaysia ontheworld mapwiththeMTV World Stage LIVEinMalaysia at Sunway Lagoon. 2. 1. Future Plans 10.  9. Ministry of TourismMinistry Malaysia. awarded by the category Attraction AwardAttraction intheNatural the 2008/2009Innovative Tourist and Recreation category Destination Tourism Award 2009intheBestFamily Lost World of Tambun won theLIBUR collaboration withPantai Hospital. Festival ChallengeandLantern DJ Mix in venue hostfor theFinal Competition for Lost World of Tambun wasthepreferred professional andamateur surfers. ofboth experience for thelikes surfing ‘Flow Rider’ thatrecreates the ultimate Malaysia’s Simulator, First Surf the raving withtheadditionof surfers Sunway Lagoon Water Park willhave about. to somethingnew screamscare-lovers to givemakeover onexistingattractions a willalsoundertake movie franchise. It BATTLE FORSALVATION’, basedonthehit ALIVE’ and ‘TERMINATOR X–ALASER reigna new ofterror with ‘TERMINATOR Sunway LagoonScream Park willunleash 7. 6. 5. 4. 3. September 2010. existing facilitieswillbecompleted in at Lost World of Tambun to improve the poolside ofthehotspring An extension a crowd of15,000musiclovers. successful event in2009whichattracted television channelfollowing the second collaborationwiththemusic anticipated World‘MTV Stage2010’, a the exclusive venue for thehighly Sunway Lagoonwillonceagainbe audioandvisualtechnology.art sensesinadditionto state-of-the- tactile and with emphasisplacedonolfactory to asurrealcinematic experience level be introducing a4D Theatre the to bring Sunway LagoonAmusementPark will panthers. gibbons, siamangs, andblack mandrills amazing andexotic animalssuchas enclosures4 new thatwillhouse expanding itsPhase 4projectto feature Sunway Lagoon Wildlife Park willbe suspension bridge. one oftheworld’s longestpedestrian witha30-metreseekers freefall from Bungy Jumpthatwilldelightthrill introduce Malaysia’s First Permanent Sunway Park LagoonExtreme will A dazzlingdisplay in offire-breathing the Nite Parkthe Nite at Sunway Lagoon. 85 Sunway City Berhad Annual Report 2009 Healthcare SunMed providesSunMed comprehensive healthcare andcaring services. 86

Sunway City Berhad Annual Report 2009 No. of Beds of No. RM Loss Operating 335 100 RM Turnover Specialist Consultation Suites Consultation Specialist 3 175 clinics million million and emergency first response and primary first and emergency response andprimary Aside from services. theaccident emergency and wellness programme, and24-hour care,and inpatientspecialty health and medicaltechnologies for outpatient whichincludesfacilities medical services, offersSunMed acomprehensive rangeof also beinginstalled. procedures. Video-conferencing facilitiesare theatres to enablelive telecast ofsurgical operating with2ofthenew visual linkage seats upto 400personsandhasanaudio- Convention Centre. hall The multipurpose convention centre aptlynamedtheSwan set-upA highlightofthenew includesa bays. 750 parking theatres andamulti-storey with carpark than 100consultationsuites, 12operating the nationwithatotal of335beds, more foremost medicalcare private centres in its growing itoneofthe clientele, making for poised to standard setanew ofservice span 654,478square feet. Now, is SunMed from itsprevious 239,163square feet to since2006,thehospitalhasgrown starting November 1999. With theexpansionplan grown exponentiallysinceitsinceptionin up hospitalwith5wings, has SunMed From asinglebuildingto afullybuilt- accredited hospital. private for inHealth(MSQH) Quality Society ISO 9001:2008,MSISO15189andMalaysian Sunway Centre isan Medical (“SunMed”) Introduction SunMed, oneofthe foremost private hospitalsinthecountry. specialty/sub-specialty discipline. specialty/sub-specialty of yearsintheirchosen ofexperience qualifications as well asastipulated number internationally-recognised postgraduate Specialistsmusthavethat practising Consultant Specialistlevel. requires SunMed officers, inthehospital allthedoctors are of whichare mannedby medical care services 1. Key Achievements programmes. ECG, screening papsmearandvarious tissuex-rays,and soft basicultrasound, diet andrehabilitation counselling, chest chronic illnessmanagement,childhealth, care andfirstaidcare, such asprimary Campus. The clinicwillprovide services Sunway University ofMonash Sciences &Health ofMedicine Cheah School theneedsofJeffrey – supporting teaching and clinicalresearch inmind with theneedsofmedicaleducation/ hasalsobeendesignedThe clinicfacility SunwayUniversity Campus. Sunway College University andMonash the burgeoning studentpopulationof theneedsof clinicwillalsoserve new for theSunway Group’s staff.Second, the a more convenient andaccessibleclinic one being toreasons, provide the primary ClinicwassetupforSunMed 3main care services. staff health/primary The oftheSunMed’sclinic isanextension Located atSunway Pyramid, this to thepublicinNovember 2009. Clinicopeneditsdoors SunMed 87 Healthcare Segments Business Key Sunway City Berhad Annual Report 2009 Healthcare Segments Business 88 Key Key

Sunway City Berhad Annual Report 2009 5. 4. 3. 2. provision ofteaching andresearch facilities. University Sunway andMonash SunMed Campus hadsigned ofAgreement aMemorandum for the Sunway Campus. University ofMonash Health Sciences Medicine & School of Jeffrey Cheah research facilitiesfor studentsofthe towards theprovision ofteaching and ofAgreementMemorandum to work Sunway Campus signed a University andMonash SunMed Symposium. Repair and Cartilage andtheOrthopaedic Dato Shahrizat, Are Singlewhich was officiated by YB challenges, Empowering Women Who (LEAN)clubinterschool Nutrition Education and through Activity and events suchasLife-changing organised workshops SunMed various had to fill in. larger thanA3-sized sheetsthatnurses whichreplaces the into adigital chart, pressure, etc to becaptured digitally signs -pulserate, rate, respiratory blood digital capture ofthepatient’s vital carethe critical unit. The CCIS enables totechnology the31bedsin islinked embedded CCIS andthis software monitors patient-care new withan procedures. hasbrought SunMed in ongoing programme to digitise manual (“CCIS”) went ‘live’. ofthe This ispart CareCritical System Information leader inthemedicalindustry. maintaining itsstandard andbeinga SunMed’smarks in continuouseffort ofISO9001:2008 The re-certification

undergraduate andpostgraduate levels. for educationandresearch,services atboth through theprovision offacilitiesand Sunway University of Monash Campus, &HealthSciences ofMedicine School theJeffrey Cheah SAHSC willsupport to provide radiotherapy services. The see thedevelopment ofacancercentre hasbegun. SunMed The firststagewill onthelandadjacent to (“SAHSC”) Academic Centre HealthSciences forMasterplan theproposed Sunway Future Plans 10.  9. 8. 7. 6. developed for services. these2new Centre. logoshave been Sub-brand forframework the ClinicalResearch anddeveloped the oncology services launchedthemedical SunMed and consultation. with free healthtalks, medicalscreening for thefirsttimeandprovided patients celebrated SunMed World StrokeDay company setup inBangsar Village 2. to runBaby andBeyond, anew withapaediatrician partnered SunMed technology have failed. other methodsofassisted reproductive when a majortreatment ininfertility Fertilisation (“IVF”) treatments. IVFis launcheditsIn SunMed Vitro 2009. on 9October ConferenceEndoscopic SpinalSurgery InvasiveMinimally helditsfirst SunMed The new, state-of-the-art operating theatre inSunMed. The new, state-of-the-art 89 Sunway City Berhad Annual Report 2009 Beautifully landscaped walkway around Sunway Integrated Resort City undertaken by SunCity. Corporate Responsibility Marketplace 94 Workplace 98 Environment 108 Community 114 Responsibility Corporate 92

Sunway City Berhad Annual Report 2009 and businessoperations. conduct corporate their day-to-day asaguidefor alldivisionsin serves of awell-balanced society. This policy greater synergy for thedevelopment inorderand community to create environment workplace, marketplace, encompassesthe responsibility policy As aresult, SunCity’s corporate vibrant andthriving. itoperates inis when thecommunity that abusinesscanonlyflourish in. The Group isequallycognisant itoperates operations andthesociety itsbusiness that existsbetween is aninterdependent relationship isfullyawareSunCity thatthere As publiclisted aMalaysian company, community atlarge.community status intheeyes ofinvestors andthe valuations andelevate theGroup’s run, thiswillleadto highermarket thelong from itsstakeholders.In better positionto gain confidence standsa responsibility practices organisation withgoodcorporate increasingly thatan evident Moreover, ithasalsobecome and trusted organisation. Group’s reputation asanestablished community. the willfortify This inturn employees aswell asmembersofthe oflifethe quality for itscustomers, pillars, aimsto enhance SunCity placingemphasisonthese4main By Sunway Pyramid’s outreach programme, “Go green with Leo” promotes recycling and care for theenvironment from young. in serving thecommunitieswe in serving by beingcommittedstakeholders and trustingrelationships withour goalisto buildlong Our primary cohesive andunified. programme willalsobemore towards responsibility itscorporate this culture, SunCity’s approach of thebusiness. promoting By aspects invarious contributions each employee positive can make each employee. We trulybelieve that responsible withinthemindsetof inculcating aculture ofbeingsocially As such,we are focused on the community. for thegreaterlasting legacy goodof citizen corporate caring willresult ina are optimisticthatourmissionto bea responsibilityinitiatives.corporate We that willenhanceourongoing explore avenues andembracenew On thisscore, we willcontinueto perspective. the better from abusinessandsocial we hopeto influencethefuture for difference. With ourstrategic actions, atangibleorganisation canmake of dedicated programmes thatan isonlythrough aseries operate in.It 93 Responsibility Corporate Sunway City Berhad Annual Report 2009 The designer luxurious residence withitsown inBayRocks private Garden lift Waterfront Villa at Sunway Quay. South 94

Sunway City Berhad Annual Report 2009 negotiating price agreements.negotiating price competitive biddingprocedures and This to isaccomplishedby formal adhering competition intheprocurement process. providing transparent, openandfree are withtheaimof alsoconducted Competitive quotations bidsandprice withitssuppliers. win-win partnerships specifications andbuildingstrategic suppliers, abreast keeping withlatest of systematic andselection evaluation adds significant valuethrough a on quality. The procurement team economically withoutcompromising suppliers andto procure materials engage reliable, qualifiedandcompetent Department. The procurement goalsare to by theSupplyChainManagement The procurement process ismanaged Procurement Policy related matters. andother businessactivities performance, withregardsstakeholders to financial on timelyandaccurate disclosure to its The Group alsoplacesgreat prominence Governance Statement. are publishedundertheCorporate SunCity’s governance corporate practice fair andprofessional manner. on Details that allbusinessesare ina conducted instillingthisculture,By thishelpsensure culture amongstitsemployees. ofintegrity governance, inculcates astrong SunCity order toIn encouragegoodcorporate andaccountability.transparency and promotes ahigherlevel ofdisclosure, on equitabletreatment to allshareholders alsostronglyThe framework emphasises requirements. andregulatory statutory adheres to all thatstrictly framework governancemaintain acorporate On thismatter, theGroup strivesto nation’s economy. any organisation andto alarger the extent, plays animperative roleof inthestability of having governance goodcorporate asit believes intheimportance firmly SunCity Marketplace Pillar 1 95 Marketplace Responsibility Corporate Sunway City Berhad Annual Report 2009 Responsibility Marketplace Corporate 96

Sunway City Berhad Annual Report 2009 26 September 1997. wasaccreditedThis since certificate Properties. Commercial andIndustry ofResidential,in theDevelopment Systems –RequirementsManagement accredited withtheMS9001:2008Quality and aestheticdesign developments, is to providedivision, well-known quality SunCity’s Development Property through theISOaccreditations received. provesSunCity itsexcellence inquality by theseniormanagement. TQMS isorganisation-wide andissteered time.every thefirsttime things right The and empowering eachindividualindoing the Group by way ofplanning, organising improvements are appliedthroughout operations. Continuous process work adopts the divisionand TQMS inevery With thisasourprinciple, theGroup standardshigh quality inwhatever we do. Promoting, andmaintaining practising (“TQMS”) Total Management System Quality in thewebsite. provided intheInvestor section Relations are ofInvestor activities Details Relation feedback isencouragedviaemail. from itswebsiteperformance and information ontheGroup’s financial and shareholders are alsoableto obtain investment inSunCity. Investors, analysts informed andaccurate decisionontheir as thiswillassistitsinvestors inmaking openness andtransparent communication believes inaccountability,SunCity releases, website andmany more. effective presentations, timelypress investing viadialogues, community transparent communicationto the to provide continuesitseffort SunCity Investor Relations serve customers better.serve problems, improvements to make andto We improve constantlyonways to prevent (preventing &innovating) CONTINUOUS IMPROVEMENT Company objective. andquality inrelation to the individual performance We measure ourorganisation and (monitoring quality) MEASUREMENT Portal.Knowledge Operating Manual, and Work Instruction Annual BusinessPlanning, ISOStandard efforts.Chiefofwhicharethe quality all resources orinfrastructureto support We plan,continuouslyprovide andreview (leading &reinforcing) SYSTEMATIC SUPPORT atalllevels.workshops poster campaigns, education,trainingand throughout theorganisation through concept spent incultivatingthequality of hisoutput.Extensivetimehasbeen isresponsibleSunCity for thequality in defined.has beenclearly Everyone staff SunCity The responsibilityofevery responsibility for(taking quality) TOTAL INVOLVEMENT improvement. for continuous and seekopportunity employees aswell asourcustomers We evaluate thefeedback from our the requirements customers. ofexternal customers (Employees) inorder to meet We satisfytheneedsofourinternal (meeting requirement) CUSTOMER FOCUS Total Management: Quality The TQMS modelisbasedonthe5Pillars of improvement. excellence, continuousmeasurement and employees, total involvement, operational ofcompetent through thesupport providing positive customer experience OrganisationIntimate by consistently iscommitted toSunCity beaCustomer QUALITY STATEMENT Sunway Vivaldi’s livingenvironment provides for lush2acretheperfect eco-deck families. 97 Marketplace Responsibility Corporate Sunway City Berhad Annual Report 2009 Building a sense of pride inemployeesBuilding asenseof pride Pride during ofAssociation site visits. 98

Sunway City Berhad Annual Report 2009 considered for. right fitwiththeposition being to findthe competencies andbehavioural traitssoas which aimedatdiscovering thecandidates’ and Interview ‘Personality Profiling’ tests required to undergo a ‘Focus Behavioural’ candidates. Thereafter, applicantsare ofemployingobjective promising incareer fairswiththe participated For underreview, theperiod we actively qualifications andexperience. recruit peoplewiththeright theright heights ofsuccess.aimsto SunCity the Group’s to objective achieve greater asthiswillcomplement core priority thebesttalentremainsAttracting a organisation. highly talented individualsinto our Attracting, andassimilating acquiring 2.1.1 facilitate growth intheirrespective careers. andto achieve outstandingperformance to skills our employees withthenecessary have beenspecificallydesigned to equip These talentmanagementprogrammes personal growths. programmes thatoffer professional and resources to develop comprehensive Group’s significant investments inhuman fullest potential. This by isevidenced the to achieve their numerous opportunities Employees are continuouslyprovided with training andrewarding itsemployees. fully committed inengaging, developing, capital excellence. is As such,SunCity which are aimedatpromoting human into ourapproachinfusing bestpractices by onestepphilosophy further istaken the successofany organisation. This of human capitalforms thebackbone The Group believes thatquality firmly 2.1  Workplace Pillar 2 HUMAN CAPITAL DEVELOPMENT Talent Attraction and Recruitment 99 Workplace Responsibility Corporate Sunway City Berhad Annual Report 2009 Responsibility Workplace Corporate 100

Sunway City Berhad Annual Report 2009 making SunCity a SunCity making ‘Great Place to Work’ campaign wasfounded ontheideaof The ofthe mainobjective “MORE” channels. all oftheGroup’s communication internal launched andsubsequentlyintegrated into through whichthe “MORE” campaign was Employer Value Proposition’ programme, onan recently embarked Out ‘Inside SunCity the otheremployers inthemarket, To from differentiate apart further SunCity environment.as work leadership, employee development aswell organisational communication and compensations andbenefitspolicy, management, include performance ofthedimensionsmeasuredSome lead to better engagementofemployees. andthreat driversthatwill opportunity andhelpedto identifythe within SunCity understanding ofthelevel ofengagement provided acomprehensiveBoth surveys identify areasimprovement. for further perceived by ourown employees andto to understand thelevel ofengagement engagementsurveys andexternal internal on all employees, embarked SunCity Recognising theneedto engagewith organisation. and interests are aligned withthatofthe becausetheirvalues efforts discretionary mileandputtingin Employees goingextra 2.1.2 teambuilding event. Motivated andhappy employees at theannual Talent Engagement Programme, Learning Institute, Pride of Balanced Scorecard Methodology, Buddy programmes of includetheRevisit programmes. under theGPTW These ofactivities byas evidenced ourstring are ontrackinmeetingourobjectives To date, we canproudly state thatwe Be MORE’. to the opportunity ‘Learn, Do, Enjoy and employee willbegiven inSunCity every Place to Work’. The proposition isthat a SunCity management to make ‘Great theemployeesbetween andthe - symbolisesthemutualcommitment and thewords ‘Learn, Do, Enjoy andBe’ The logowhichhas “MORE” initscentre environment withmotivationalideas. employees thework andinjecting improving productivity, retaining isfocusedactivities. on The GPTW promote SunCity’s employee engagement isto The ofGPTW objective (“GPTW”). Recognising employees’ outstandingachievements. in andoutofworkplace. Linkage: Social Working andplaying together, This programme asaplatform for acts Programme.emphasises theInternship Programme:Internship The Group infrastructure system andSunCity’s culture. environment, withthenew familiarise is responsible to to guidethe new-joiner Buddy Programme, whereby thebuddy buddyunderthe with anexperienced intheGroupNew-joiners ispaired-up Palazzio andSunway SPKDamansara. visited were Sunway Quay, South Sunway own developments. Amongthesitesvery to beassociatedof pride withSunCity’s the sites andshow units, infusingasense the employees by organising to fieldtrips to introduce theaward-winning homesto programme. is ofthisactivity The purpose the employees viathePride ofAssociation isproudMalaysia to present itsproductsto SunCity, asoneofthetop 3developers in trips. badminton sessionsandcycling day, bowling competition, ice-skating, sessions, movie- includingkaraoke Linkage wereactivities organised underSocial bonding andstaffengagement,various ofpromoting objective With theprimary player. customer-intimate, integrated real estate position asagreen, innovative and strengthens SunCity’s further This inturn employee level. engagementto the next programmes, isonitsway to SunCity take Sessions. Kopitiam Through theGPTW andtheexciting Association, Linkage Social Successful integration ofnewemployees through theBuddyProgramme. activities and attitude at work. andattitude atwork. activities adequately rewarded for their performance to thebestoftheirabilitiesandare perform or setting, inwhichpeopleare enabledto Growth) by creating environment awork Customer, Process, Internal Learning & are (Financial, basedon4perspectives indicators according performance to key organisation / employee performance Monitoring, managing andevaluating levels. onwards to theoperationalandsupport indicators to therespective divisions and the Group’s organisational performance key systematic identificationandcascadingof hasbeeninstrumentalinthe department The HumanCapital (“HCD”) Development 2.1.3 andMarketing. Management Construction Finance,Supply ChainManagement, IT, including departments them invarious andplacing Malaya, and University Campus, Sunway College University Sunway University including Monash renowned institutions higherlearning We have beenemploying from interns prepares world. themfor theworking exposed to environment corporate which as anemployer ofchoice. The are interns campuses inorder to publicisetheGroup around inSunCity vibrant experience istoOne oftheobjectives share the our Employer Value Proposition initiative. Talent Management 101 Workplace Responsibility Corporate Sunway City Berhad Annual Report 2009 Responsibility Workplace Corporate 102

Sunway City Berhad Annual Report 2009 how to theyounger generations. andtechnicalshare know- theirknowledge demonstrates thewillingnessto andefforts was invited to facilitate thesessions. This basis whereby theseniormanagement related are activities organised onhalf-day their potential even further. Various work- platform where individualscan harness and others. The isto objective provide a driven culture, communicationsessions customer-management, technical skills, is given areas to various suchasknowledge employees. basis, Onafortnightly attention professional development for our commitment to individual, team and The Learning represents Institute our 2.1.4 Annual Talent programmes. Review andthe Collective Moderation all-new employees, we have alsointroduced the ofour evaluation for annualperformance For ofdeveloping talentsand thepurpose forPerformance Review allemployees. indicators intheAnnual performance also aligned withtheorganisational key is It challenges facedinthemarketplace. oftheorganisation withthe the priorities whichattempts toMethodology align the revisit oftheBalancedScorecard spearheaded The HCDdepartment Promoting acustomer-intimate organisation. Retention Talent Development and and a track record of leadership capabilities. graduates withexcellent academicresults recruit, trainandretain thebestMalaysian pool. The Programme SMART aimsto manage anddevelop theGroup’s talent level to better atentry competency was initiated in2002to accelerate job To thisend, Programme theSMART improve theirknowledge. programme theirstrengths to harness and a structuredprofessional development young talents andproviding themwith believer in isafirm recruiting SunCity SMART Programme 2.1.6 Programme. Programme andHi-Po Development Programme, Development Management are usedsucha talentdevelopment programmesvarious linewiththedevelopment oftalent, In trainingprogramme.the Harvard intensive programmes suchasINSEADand developed through other more financial Programme. ofthesetalentsare Several Potentialthrough theHigh Development future leadershippotential are developed business continuity. talentswith Key planning process to ensure smooth hasastructuredsuccession SunCity 2.1.5 (“ Advancement for Recruited Talents SMART”), SMART”), Young Hi-Po Development Training Programmes Succession Planning s Sunway Managerial Conference 2008/2009. Dialogue withEXCO theSunway during Managers’ Conference 2008/2009. Sunway Group’s theSunway visionduring Managers’ Tan Dato’ Sri DrJeffrey the Seri Cheahsharing concentrated onreinforcing thenotion and teamwork; ‘Sunway Delight’ which communication efficient interdepartmental trainersfor more departmental determine Trainer’ whichwasdesigned to identifyand the Group include ‘Skill Training – Train The trainingprogrammes preparedOther by Other Training Programmes Development. Leadership atGEandLeadership onSustainable whospoke Dankfort, andNina Dean included talksby Stuart (“GE”),withhighlights Electric General Sustainable Leadership –Lessons From and objectives. The themefor 2009was into Sunway Group’s strategic direction The conference provided aninsight organised by theGroup HumanResources. Sunwayyearly Managers’ Conference executives attend the withinSunCity programmes, level allmanagerial additionto theseprofessionalIn Sunway Managers’ Conference ACCA. with theApproved Employer statusby addition,theGroup wasalsoaccordedIn awarded thisprestigious appointment. Kingdom to be outsideoftheUnited firms among thefirstnon-accounting related Accountants programme. The Group is Wales to runtheAssociate Chartered Accountantsof Chartered inEngland& Training Organisation by theInstitute The Group wasappointed asanApproved andACCAICAEW Programmes Rewarding theoutstandingemployees withtheExcellence Award. interpersonal skills. interpersonal management leadershipand Leadership’‘Service aimed atdeveloping salesandalso pro-active for structuring Selling’ to develop asimpleframework efficient guestservice; ‘Front oftheHouse Guest’ whichfocused ondelivering training programmes suchas ‘Be My encouraged to internal attend various Sunway Lagoon’s employees are always existing talents. training programs aimedatnurturing careers through andexternal internal helping itsemployees to advancetheir constantly developing, inculcating and destination, Sunway Lagoonis As Malaysia’s premier multi-park delivery. of productandservice aspects management andstaffonvarious The sessionswere designed to equip FoodIndicators; Hygiene andSanitation. to ProductComputer Skills Knowledge ITand Performance Indicators; and Key Operating Procedures; BalancedScorecard Standard of topics from Department courses. These sessions covered ahost ranging from training to internal external average of250traininghoursmonthly Spa’s employees have beenattending an thepastyears, Hotel & In Sunway Resort skills. theircommunication develop andsharpen a programme thathelpsstaffmembers and ‘Telephone Communication Skills’, of deliveringexcellent customer service 103 Workplace Responsibility Corporate Sunway City Berhad Annual Report 2009 Responsibility Workplace Corporate 104

Sunway City Berhad Annual Report 2009 bowling, netballandothers. included badminton, futsal, basketball, among employees. activities The sports andteamwork spirit promote sports to Carnival was theannualKSSSports organised by KSS Another mainactivity contributions. charitable making throughfortunate volunteering and all employees to reach outto theless employees. Additionally, KSSencourages organised by KSSfor thebenefitofall to localandoverseas destinationwere andholiday trips carnivals talks, sports from familyday, team outings, lunch review, numerousranging activities employees. under theperiod During amongstall ofunity aspirit to inject KSS represents theGroup’s mission Sunway2.1.8 Kelab Sukan (“KSS”) encouraging reading among employees. cultureby a learning withinSunCity committed to continuouslyinculcate on self-help. GHRResource Centre is to problem-solving aswell asbooks entrepreneurship, decision-making motivational, innovation, management, communication, ranging fromsubjects leadership, books, onvarious CDsandDVDs where employees are provided with centre on 23March 2007,aknowledge GHR Resource Centre waslaunched 2.1.7 One happy Sunway familyat theKSSFamily Day. (“GHR”) Resource Centre Group HumanResources Department personnel. Department oftheFireto thearrival andRescue customers andstaffmembersprior thesafety ofallour in ensuring employees’ asFirst expertise Responders order andalsoaimed atdemonstrating heat detectors are inproper working and smoke fire sprinklers, extinguishers, roller shutters, publicaddress systems, and fire intercom, andescalator, lift including pagers, SMS, paging phone communication alarms, emergency fire prevention systems suchasfire any emergencies, to ensure thatall toall SunCity’s prepare properties for Fire are regularly drills in conducted professionals. qualified byaudits conducted external viaindependent transparency ensuring fire andbuildingsafety systems to ranging from developing anextensive parties andexternal internal various from introduced withthesupport To thisend, different initiatives were environment.conducive working and healthy culture work for amore constantlypromotesSunCity asafe 2.2 members to enjoy andrelax. television setfor thebenefitofKSS room andamembers’ loungewith gym,pooltable, sauna squash court, comprehensivefacilities including sports KSS maintainsaclubhousewith HEALTH &SAFETY dedicated employees. Presenting award 30years longservice to theloyal and Strengthening ourdiversity through festival celebration. services category. services Awards 2004and2006inthebusiness Award intheNationalExcellence OSH excellence inOSHby winningtheSilver Centre thesame Medical portrayed the hotel & restaurant category. Sunway processstringent andauditexercise in the highestscore undergoing after several Awards 2004and2006for having achieved & Spawon theNationalExcellence OSH Hotel System. SunwayManagement Resort System and HSAS18001for Safety ISO 14001for Environmental Management bodiesnamely certification international is proud to have received recognition from environment,healthy theGroup working To ofpromoting theextent asafe and Training.’ Safety’‘Electrical and ‘Confined Space ‘First Aid Training’, Response’,‘Emergency ‘Chemical Handling’, ‘Forklift Training’, areas suchas ‘Fire Preventive &Fighting’, Programme’‘Safety Induction thatcovers Operations personnelalsoattended a Learning Institute. Empowering employees withvarioustraining programmes in and healthy working environment.and healthy working to ensure asafe andsupport supervision Health excellence through training, Safety & theOccupational achieving shallcontinuouslystrivetowardsSunCity • • • • by:- codes ofpractice 1994, itsregulations andalltheapproved Safety &HealthAct of theOccupational committed to complyingwithprovisions strives towards life ZERO lossandis thisregard,business activities.In SunCity as well asthoseinvolved inourdaily to allemployeesand healthy workplace iscommitted toSunCity providing asafe STATEMENT SAFETY periodic reviews onitseffectiveness.periodic health documentationsandconduct alloccupationalsafety and Maintaining codes ofpractice. laws, itsregulations andapproved Safety &Health with theOccupational thatallcompaniescomply Ensuring organisations. standards intheirrespective Safety &Health per Occupational for continuousimprovement as companies are committed to strive thatallheadsofoperating Ensuring andcontrollingrisk them. Identifying allhazards, assessingthe 105 Workplace Responsibility Corporate Sunway City Berhad Annual Report 2009 Responsibility Workplace Corporate 106

Sunway City Berhad Annual Report 2009 greater senseofbelonging andunity. festivevarious seasonsto promote a encouraged to celebrate thenation’s under review. Employees are also held throughout thefinancialperiod were chess/checkers, poolandcongkak bowling, caroms, badminton, darts, futsal, volleyball, basketball,netball, suchassepaktakraw,and tournaments Various outdoor andindoorgames amongstemployees. networking health benefitsand to foster greater andrecreational for activities sporting the divisionshadorganised numerous personal life demands. Onthisnote, all greater synergy and work between is integral for allemployees to achieve believes thatwork-lifeSunCity balance 2.3 WORK-LIFE BALANCE 18% 25% Employees by Classification 17% 15% Employees by Race 23% 2009 2009 60% 42% nation. significant to the contributions make relationships atlarge and withsociety Group to engageinmore meaningful thiswillallow thelong-term, the In economy. more responsive intoday’s globalised to ensure thattheGroup becomes who cangenerate creative solutions of peoplefrom different backgrounds enable theGroup to tapinto apool willalso demographics.market It understanding oftoday’s dynamic the Group isableto have abetter employing adiverseBy workforce, mission, visionandvalues. delivery, policies, procedures, practices, Group’s businessstrategies, key service manner. into isinterwoven the Diversity with respectandinafairrespected age. All employees at areSunCity treated status, race, nationality, ethnicorigin or people from adifferent gender, marital for any form against ofdiscrimination andwe donotallow roomworkplace The Group atthe embracesdiversity 2.4 DIVERSITY ATDIVERSITY WORKPLACE Non-Executive Others Indian Chinese Malay Managerial Executive In SunCity,In we celebrate anddecoration allmajorfestivals contest. withouremployees party through department 107 Workplace Responsibility Corporate Sunway City Berhad Annual Report 2009 108 Promoting and plastic-free apaperless shoppingexperience inSunway Pyramid.

Sunway City Berhad Annual Report 2009 environmental andperformance. impact which evaluates buildingsfor their Green Authority Mark and Construction were awarded theSingapore’s Building annual report. These 4developments inthis and Nauticaashighlighted earlier Palazzio, Sunway Challis, Sunway Vivaldi developments suchasSunway property newest inits energy andwater efficiency numerous green initiatives for greater whereby theGroup incorporates This approach continuestilltoday provide better insulation. wallsto cavity and usinghigh-quality to reduce orientation heat north-south City, suchasaligning ourunitsina development inSunway Integrated Resort initsearliest ofsustainability principles the Group various hadincorporated development projects,green property As oneofthefirst-movers indeveloping DevelopmentProperty innovative measures. the environment through and new ofpreserving theimportance overlooked livable townships, we have never linewiththeGroup’sIn visionofbuilding andtheenvironment.business objectives our abalancebetween the needto strike business practices. This ispremised on implementing environmentally-friendly manner whileconsistently developing and managing ourresources inaresponsible by actively environment conservation on placesgreatSunCity importance Environment Pillar 3 109 Environment Responsibility Corporate Sunway City Berhad Annual Report 2009 Responsibility Environment Corporate 110

Sunway City Berhad Annual Report 2009 convenience, theguidingsystem allowed tomotorists from locate vacantbays. Apart Guiding System’‘Carpark thatenabled Sunway PyramidinstalledMalaysia’s first initiatives in allitsbusinessoperations. for greenhas beenahugesupporter shopping destinations, Sunway Pyramid As oneofMalaysia’s mostpopular InvestmentProperty centresrecycling were opened. were whiletemporary conducted composting talksanddemonstrations campaign. thiscampaign, During organic Sunway Damansarawere involved inthis Quay, Sunway IIand Vivaldi, Casa Kiara Damansara, BayRocks atSunway South environment. Villa @Sunway Manja SPK ofsafeguardingimportance the Natural lighting inSunway Pyramid. 2009 to promote awareness onthe Green Campaign from 15to 31August The division alsoorganised aMerdeka surrounding area. valueofthe help improve theproperty a sustainableenvironment, thiswould grass to beautifythelandscape.having By well as1,800square meters ofcarpet donated 200trees (Eugenia oleana)as plant trees also inAugust 2009.SunCity with theresidents to clean,beautifyand Damansara organised a ‘gotong-royong’ oftogetherness, thespirit SunwayIn SPK subsequently channeled to Sekolah subsequently channeledto Sekolah on salefor thepublic. Proceeds were Limited editionsofBYOB bagswere also to encourageshoppersto gogreen. Bring Your Bag(“BYOB”) Own programme shopping, its Sunway Pyramidkick-started Paving theway for plasticandpaperless wastes are placedthroughout themalls. sets of3for paper, plasticand aluminum addition to thesecentres, binsin recycling Sunway PyramidandSunway Carnival. In tenants to discard in materials recyclable back centres were builtfor shoppersand To encouragerecycling, buy- recycling installed to reduce water wastage. Motion sensortaps towere flush. also withouttheneed particles and odorless liquid breaks into down harmless urine compound, thisenvironmental friendly aspecialbiodegradableUtilising chemical were installedinthemen’s restroom. To water, conserve urinals waterless energy consumptionsignificantly. Pyramid andSunway Gizato helpreduce lighting isintroduced insideSunway ofenergy terms efficiency,In natural Giza. the duplicationofthissystem inSunway The success ofthissystem hadresulted in heat andexhaustemissioninthecarpark. vehicular flowquicker andthus reducing Inculcating therecycling habitfromInculcating ayoung age. norgn eyln mns h oa omnt.Children enjoying aninteractive sessioninSunway Lagoon. Encouraging recycling amongstthelocalcommunity. and clustered planningconcepts. by usingacombinationofopenplanning breeze to travel through thevillasandspa Passive coolingispromoted by allowing theminto thedesign.incorporating naturalelementsand by preserving advantage oftheexistingsite conditions The design andplanningtakes economic andenvironmental well-being. whichencompasses social, cultural, luxury aimsto satisfyall4pillarsofeco- resort management andhotel operations, the designing, environmental waste services, sustainable design through planning, approach and towards energy-efficiency Retreat. RepresentingHotsprings aholistic hotels. This isexemplified by The Banjaran management andoperationsofthe towardsextended thearea ofhotel development, green were efforts holistic approach towards sustainable division’s linewiththeHospitality In ofrecycling. on theimportance with ‘Leo theLion’ to increase awareness through agreen outreach programme andschoolsinKlang Valleykindergartens premises, were they to extended fromwithinthemalls’ efforts Apart students’ gardening project. Special Education Unitfor theirspecial BandarSunway Kebangsaan Menengah waste andtoxic waste are properly plastic, metal, waste, glass, kitchen garden waste productssuchaspaper,various includes waste separationto ensure that also beenemployed attheresort. This Waste managementprogrammes have weir system, andthenusedfor landscaping. containedby a oflakes inaseries collected wherebyrainwater rainwater harvesting is promoted via Water isfurther conservation flush toilet systems have beeninstalled. saving pushvalves, shower headsandlow To reduce water consumption,water awareness onclimate change. emission,on top ofcreatingcarbon consumptionand savings inelectricity global warming. This hastranslated into initiativea worldwide aimedatreducing Hour, ofEarth to demonstrate itssupport lighting for 60minutes on28March 2009 offitsfaçadeandunessential by turning played arole inenvironment conservation Pyramid andSunway Lagoonhadalso Hotel &Spa,SunwaySunway Resort efficient performance. air quality, control humidity andenergy- cooling system whichresults inenhanced environmentally-friendly andhigh-energy withtheinstallationofan conservation energy alsopractises The resort and composted to create naturalfertilisers. composting facility. Garden waste isshred separated. alsohasitsown The resort 111 Environment Responsibility Corporate Sunway City Berhad Annual Report 2009 Responsibility Environment Corporate 112

Sunway City Berhad Annual Report 2009 around theexistingtrees. Sincethen, Lagoon Wildlife Park wasconstructed and sustainabledevelopment, Sunway to thepillarsofenvironmentSubscribing responsibility.corporate (LOHAS) philosophy of into itspractices the ‘Lifestyles of HealthandSustainability’ Sunway elementsof Lagoonincorporates industry. to raisehealth standards inthehospitality of indoorairpollutants, directlyhelping the Nanomax®technology initscontrol HotelMalaysia thefirsthotel in to employ Pyramid measurement), making Tower 500”“below inBloaerosol Test (airparticles Swab Surface Test countof andparticle 2009 anddeclared areading of “1” for at Pyramid Tower Hotel on22October oftheguestroomsa test andinspection its assigned labtechnicians, conducted through ofHealth,Malaysia, The Ministry theair.deodorises technology, cleanses, and sterilises areas. thelatest airpurification NanoMax®, Hotel &Spa’s andstaff Executive Offices Pyramid Tower Hotel, Sunway Resort employed inallguestrooms atthe4-star environment, technology is NanoMax® to promote aneffort asafeIn andhealthy recycling. of about theirhabitatsandtheimportance animals, morepersonal withvarious learn that children are ableto getupcloseand so process fieldtrips the learning during concepts of ‘See, Touch &Learn’ to facilitate schools. The educational zoo encompasses centres learning and as kindergartens, educationalinstitutionssuch various of young children andyouth from and aidsinthepersonaldevelopment proud to beagreen educationplatform Sunway Lagoon Wildlife Park isalso consumption. energy to helpreduce unnecessary unessential lightsandair-conditions to ensure thatemployees switch offall Sunway apolicy Lagoonalsopractises middle ofthecity. the few lushman-madegreen lungsinthe acres itoneof ofSunway Lagoon,making helped to disperseseedsaround the88 as thebirds thatfeed onthefruitsthen createdThis in turn anaturaleco-system Sunway Lagoon Wildlife Park. feed over 150speciesofanimalsatthe foliage. Thereafter, thefruitsare usedto offruittreesof itbeinglocalvarieties and more trees have beenplanted withmost SunCity alsoplayedSunCity arole inenvironmental by offallitsunessential turning conservation lighting for 60 minutes in support of Earth Hour2009. ofEarth lighting for 60 minutes insupport 113 Environment Responsibility Corporate Sunway City Berhad Annual Report 2009 114 The new Tourist Police Centre Service inSunway Sunway Pyramid, asafer making City Integrated place. Resort

Sunway City Berhad Annual Report 2009 City Ipoh. City 10 millionvisitors to andtourists Sunway road to isexpected benefit This service Highway toSouth Jalan Tambun, Ipoh. road froma 750-metre theNorth- service RM1.5millionto contributed build SunCity For development, theSunway Ipoh City children’s playground. and a jogging tracks,courts basketball amenities suchasareflexology pathway, development features numerous cater for living. modern The 800-acre and lifestyle recreational facilitiesto carefully designed withlushlandscaping is (“SIRC”) City Sunway Integrated Resort well-planned of andgated community of theGroup’s future developments. The to improve and sustainability thelivability countlessefforts hasundertaken SunCity DevelopmentProperty a whole. as andsociety benefit ofthecommunity into atimeless commitmentfor the Cheah Foundation, hisvisionhasevolved With theestablishmentofJeffrey aspiration to provide education. quality been Tan Dato’ Sri DrJeffrey Cheah’s Seri through education.Since1997,ithas is committed to to society contributing Dato’ DrJeffrey Cheah,the Seri Foundation founder,inspired by itsvisionary Tan Sri of the Seeds Wisdom’. Aphilosophy of established ontheprinciple ‘Nurturing The Cheah Jeffrey Foundation was operate in. we of thepeoplelivingincommunity Group’s andminds presence inthehearts a positive difference and the reaffirm inorder activities to make in charitable are strongly encouragedto participate development. Onthisscore, alldivisions improve educational, culturalandsocial by providingcommunity assistanceto closelywiththelocal works SunCity Community Pillar 4 115 Community Responsibility Corporate Sunway City Berhad Annual Report 2009 Responsibility Community Corporate 116

Sunway City Berhad Annual Report 2009 sponsorships. These NGOs includeMasjid for andprovide theunderprivileged venue organisations (“NGOs”) to organise outings with numerous non-governmental Sunway Pyramidalsocollaborated Policeits own Auxiliary force. Malaysia Pyramid thefirstmallin to have PoliceAuxiliary status. This madeSunway trainingandwereMalaysia accorded personnel hadundergone Police DiRaja ranksofSunway Selected Security SIRC. for in andlocalsalike tourists security in Sunway Pyramidto provide added Tourist Centre Police wasopened Service safety apriority, aRM500,000Selangor linewithSunCity’s initiative In to make InvestmentProperty recreation inPerak. andtourism State Government’s ambitionto promote Corridor,the Eastern inlinewiththe to beacatalystdeveloper for Ipoh City Government hadrecently invited Sunway thePerakwith ourpartners, State relationships mutually beneficial working emphasised onmaintainingcloseand a responsible developer whichhasalways As a testament to the Group’s reputation as Shah Utara. the peakhoursalongJalanSultanAzlan Tambun stretch, /Ipoh especiallyduring traveling timesignificantly alongthe road save willhelpmotorists service Hanadzlah,the750-metreMohamad of Parliament, Dato’ AhmadHusni Seri Finance and Minister Tambun Member openedSecond bythe Officially nacn uwyCt phsacsiiiywt h e evc od Afunday out at Lost World of Tambun from withorphans Enhancing Sunway Ipoh’s City road. accessibility withthenew service Management Programme,Management targeting ofeHomemakers’participants Household 2009, thehotel alsoprepared mealsfor 70 Sunway Lagoon.On8and22December Club whichhelditsannualretreat at a regular provider ofmealsfor theKiwanis Hotel &Spais addition,SunwayIn Resort festivePyramid asayear-end treat. LionsShow &Sea heldatSunwayDolphins Hope to enjoy afunday andto seethe Hope, Ti-Ratana Welfare HomeandRumah Valley including Trinity Home, Rumah andKlang homeswithinSelangor various The hotel alsoinvited 59children from Malaysia. singers from Persatuan Karyawan channeled towards grooming future local 2009,withtheproceedson 31May venue for theAustralian concert BeeGees initiatives.charity The hotel sponsored the Hotel & Spa was involvedactively in several For division,Sunway theHospitality Resort experience. students to gainvaluableworking attachment programme allowed the attendants. as ice-rink The 6-month BandarSunwayKebangsaan to work Menengah special studentsfrom Sekolah Programme, Sunway Pyramidinvited ofSunCity’s Placement Job As part Education). BandarSunwayKebangsaan (Special Welfare Menengah andSekolah Society Tengku AmpuanRahimah, Ti-Ratana PreciousKids, Home, RumahAmalCahaya Citizens Organisation Rumah Malaysia, Home oftheNationalCouncil ofSenior LifeAl-Husna, New Care Centre, Setapak Good ShepherdGood Family Home. medical check-up. Giving backto through thelocalcommunity free opened the SunMed ClinicatSunwayopened theSunMed Sunway Centre Medical (“SunMed”) of funandexcitement atSunway Lagoon. to whereaday Malaysia experienced they children from Chinawere treated to atrip organised withSunCity. Underprivileged 26 November 2009,whichwasjointly Another event was ‘Project Hope’ on providing aform oftherapeuticfun. 800 children to andspills, aday ofthrills theevent for moreco-organised than Sunway Malaysia LagoonandKiwanis Annual Children’s 2009. on 18April Party and specialneedschildren the11th during Lagoon played hostto theunderprivileged fun andproviding itto theneedy. Sunway Sunway Lagoonalsobelieves increating useful skills. with basicfood preparation andother hotel’s restaurants various to equipthem CollegeUniversity by trainingtheminthe BandarSunwayKebangsaan andSunway Menengah fromselected Sekolah 4specialstudents hotel supported From aneducationalperspective, the other orphanages. Church Kepong,Caritas St.Barnabas and Gereja International, such asKiwanis to materials NGOs bedding andfurnishing The hotel alsoregularly contributes technology. use ofinformation andcommunication running ofSOHObusinessesthrough the work-life andthe balance;teleworking thatpromotes network community EastAsia’s isSouth eHomemakers only single mothersandthedisadvantaged. New Year inSunway Pyramid. Spreading thefestive Chinese during cheerwith thelessfortunate examination, speechandlanguage mass index,eye andglucosetests, breast including bloodpressure checks, body life were treated to free healthscreenings 120peoplefrom2009. Over allwalksof hosted its firstOpenDay on7November Specialistand SunMed Wellness Centre School. Medical the Monash and research facilitiesfor thestudentsof towards theaimofestablishingteaching SunwayUniversity Campus to work ofAgreementMemorandum with Monash signed mid-2009,SunMed a In the future. SunwayUniversity Campus may roll outin postgraduate programmes thatMonash for asatrainingfacility and willalsoserve in theseareas ofmedicinementioned researchschool to studyandconduct medical medical studentsandMonash The clinic willalsobeanavenue for the global healthandlocalpublichealth. management policiesandstrategies, of publichealthandchronic disease will play apilotrole inthedevelopment isenvisionedCampus. thattheclinic It Sunway University ofMonash Sciences Medicine &Health School of Jeffrey Cheah theneedsof insupporting particularly teaching andclinicalresearch inmind with theneedsofmedicaleducation/ Campus. wasdesignedThe clinicfacility Sunway University College andMonash universities namelySunway University student populationofSunway’s 2 theneedsofburgeoning will serve within themainhospital. The clinic new care services of thehealthandprimary Pyramid inNovember 2009,anextension 117 Community Responsibility Corporate Sunway City Berhad Annual Report 2009 Responsibility Community Corporate 118

Sunway City Berhad Annual Report 2009 foundations’ programmes. FoundationKidney to raisefundsfor their LiverMalaysian Foundation andNational hasalsocollaborated withthe SunMed consultation anddiagnostic examinations. health screening, alliedhealthspecialist wellness programmes andexecutive care, specialistconsultationandtreatment, offered whichincludeprimary the services andtoback to introduce thecommunity The Open Day wasaway ofcontributing their healthneeds. them busywhiletheadultsattended to suchasfacepaintingto keep activities For thechildren, there were alsofun increase awareness ofhealthy living. healthtalksto consultation andvarious diabetes mellitus and heart diseases. diabetes mellitusandheart of obesity-related chronic states suchas to risk inaneffort reduce the overweight, at young children andteenagers whoare isaimed It &Nutrition). through Activity LEAN CLUB Education (Life-changing a specialclubfor obesechildren –the awareness intheyoung, alsohas SunMed today.society thehopeofinculcating In inour address healthconcerns various forums to promote publicawareness to prevention andcure, hosted free SunMed issues covering symptoms, diagnoses, To health educate themassesonserious Project beyond borders Hope:Charity for children underprivileged from China. 119 Community Responsibility Corporate Sunway City Berhad Annual Report 2009 With Integrity

Corporate Governance Statement 122 Terms of Reference of Executive Committee of the Board 129 Terms of Reference of Nomination Committee 132 Terms of Reference of Remuneration Committee 133 Terms of Reference of Employees’ Share Option 134 Scheme Committee Terms of Reference of Risk Management Committee 136 Audit Committee Report 137 Statement on Internal Control 142 Enterprise Risk Management 144 Additional Compliance Information 148 Investor Relations 150

SunCity is transparent in its corporate governance practice. 122

Sunway City Berhad Annual Report 2009 of Executive andNon-Executive Directors withamix Directors. The Board compositionreflectsabalance 10 members, Non-Executive 3or1/3are Independent underreview, theperiod During theBoard consistsof BOARD COMPOSITION ofreference.terms Board Committees, allofwhichoperate withindefined responsibilitiesThe Board to the delegates certain • • • • • • • as follows:- itsmainfunctions,amongstothers, meets to perform The Board leadsandcontrols theGroup. regularly It THE BOARD ANDITS RESPONSIBILITIES A. shareholders oftheCompany. Code”) wherever applicableinthebestinterest ofthe CodeMalaysian onCorporate Governance(“the The Board iscommitted to implementingthe the Company andoftheGroup. shareholders’ of valueandthefinancialperformance the ultimate ofprotecting objective andenhancing throughoutgovernance ispractised theGroup with The Board iscommitted to ensure thatgoodcorporate Statement Governance Corporate regulations, rules, directives andguidelines. systems for compliancewithapplicable laws, management information systems, including the Company’s control internal systems and of andintegrity theadequacy Reviewing Human resources planninganddevelopment. expenditure. restructuring, fundingandsignificant capital issuesincludingacquisitions, divestments,on key Management’sConsidering recommendations by theGroup. faced targets risks andpoliciesto managethekey sets, where appropriate, objectives, performance Board Committee, throughManagement theRisk systems to mitigate andmanage theserisks. The theimplementationofappropriateensuring oftheGroup risks and Identifying principal managed. to evaluate whetherthebusinessesare properly oftheGroup’s theconduct Overseeing businesses Company’s strategies, budgets, plansandpolicies. Adopting progress andmonitoring ofthe shareholders’ value. plans for theGroup to withaview maximising theobjectives,Setting goalsandstrategic DIRECTORS MEETINGS ANDSUPPLYMEETINGS OFINFORMATION 50 to 55of theAnnualReport. profileA brief ofeachDirector ispresented onpages conveyed. relatingconcerns to theaffairsofGroup may be Non-Executive Independent Director,Senior to whom Tan Dato’ Sri Ir Talha Hashimisthe BinHajiMohd andstrategiesthe objectives establishedby theBoard. day managementofthebusinessinaccordance with Board ofDirectors. They are responsible for theday-to- Managing Directors areto thecontrol subject ofthe to ensure abalanceofpower andauthority. The the Executive andtheManagingDirectors Chairman There isclearsegregation ofresponsibilities between than thesignificant shareholder. the investment intheCompany by shareholders other Company. The Board reflects compositionalsofairly enables theBoard to effectively leadandcontrol the different together professions working andskills management. and property This combinationof architecture, civilengineering, real estate development andfinance,in thefieldsofaccountancy, banking professionalsof suitablyqualifiedandexperienced advice, whennecessary, attheCompany’s expense. individual capacity, to obtainindependentprofessional for allDirectors, whether asafullBoard orintheir There isaformal procedure approved by theBoard the Company’s expense. independent advicewhenever deemednecessary, at Company Secretaries. They are to alsopermitted seek ofthe direct accessto theadviceandservices to theCompany. addition,allDirectors have In All Directors are entitledto information pertaining information and/orapproval. other operationalandfinancialissues for theBoard’s updatesBoard and Committees, regulatory/statutory the Company’s developments, minutes ofmeetings results, businessplanandbudget,progress on report The board papersprovided includeinter alia,financial discussed. Directors to studyandevaluate thematters to be given atleast1weekto themeetingsfor prior the together with therelevant board papersare normally meetings dulyendorsedby theExecutive Chairman Noticesandagendaof business performances. to review financial, operationaland meets quarterly Unless there are urgent matters, theBoard normally Training Programmes, and Seminars Workshops attended by Directors regulations andthebusinessenvironment. abreastto keep withtherelevant changesinlaw, professional bodiesto and broaden theirknowledge organised and authorities by therelevant regulatory trainingprogrammesattended various andseminars thefinancialperiod, alltheDirectorsDuring had DIRECTORS’ TRAINING Directors are asfollows:- the of attendance of details the and 2009 December 31 ended period financial the during times 8 met Board The Cheah Fook Ling, Tan Dato’ Sri DrJeffrey Seri go onYa Sunway Managers’ Conference 2008/2009– Ngeow Voon Yean Ngian Siong Siew Sunway Managers’ Conference 2008/2009- MHashim Datuk Razman Name ofDirectors Datin Paduka Low Moi Siew Teo Tong How Tan Dato’ Sri Ir Talha Hashim BinHajiMohd Dato’ Ng Tiong Lip Ngeow Voon Yean Ngian Siong Siew MHashim Datuk Razman Tan Siak Tee Lim Swe Guan Tan Dato’ Sri DrJeffrey Cheah Seri Fook Ling, aeo ietr Course Title /Organiser Name ofDirectors AO General Electric”General “Sustainable Leadership: Lessons from Electric”General “Sustainable Leadership: Lessons from Sunway Managers’ Conference 2008/2009- Electric”General “Sustainable Leadership: Lessons from (Harvard Club of Malaysia andSunway ClubofMalaysia College) University (Harvard Precipitator, andResponse Impact The of2008/2009: Economic Crisis Accountants) ofManagement Institute Chartered (The Evaluating Performance oftheBoard Electric”General “Sustainable Leadership: Lessons from Sunway Managers’ Conference 2008/2009- AO (Sunway Group) (Sunway Group) (Sunway Group) ubro etnsAtne Percentage ofAttendance (%) Attended Number ofMeetings (Sunway Group) relations. taxplanningandinvestor market, property reporting, leadership andgovernance, management,financial risk were,period inter alia,onareas relating to corporate attended by thefinancial theDirectors during The trainingprogrammes, seminarsandworkshops Corporate Governance Statement Governance Corporate 7/8 7/8 8/8 7/8 8/8 8/8 7/8 8/8 8/8 8/8 16 February 2009 7 February 2009 7 February 2009 7 February 2009 7 February 2009 7 May 2009 7 May 100 100 100 100 100 100 88 88 88 88 Date 123 Sunway City Berhad Annual Report 2009 124

Sunway City Berhad Annual Report 2009 regulatory and statutory requirements. andstatutory regulatory the on guidelines relevant the to changes on Secretary Company the by updated constantly also were Directors All Corporate Governance Statement Governance Corporate Bin Haji Mohd Hashim Bin HajiMohd Tan Dato’ Sri Ir Talha Tan Siak Tee Teo Tong How Lim Swe Guan ai auaLwSe o Economic Forum onAnalysisoftheGlobalEconomic Datin Paduka Low Moi Siew ao gTogLpThe of2008/2009:Precipitator, Economic Crisis Dato’ Ng Tiong Lip aeo ietr Course Title /Organiser Name ofDirectors Companies Listed on BursaMalaysia Continuing ObligationRequirements forKey Financial Tsunami: How itaffects the world (Securities Commission Berhad) andBursaMalaysia (Securities Corporate Governance:Lessons from HongKong State(Selangor Investment Centre Berhad) Growth SustainedHigh toMalaysia Re-start Economic Forum Policy onNew Framework for State Corporation) (Selangor Development Programme Financial Directors’ Institutions Education Berhad) (Bank ofChina(Malaysia) (Land Transport Authority) Economic Environment Investor inaChallenging Relations andUncertain Berhad) (Malaysia) (Hume Industries BetterDoing Deals Bhd) (Bursatra Sdn Executing Investment Strategies Overseas Bhd) (Bursatra Sdn (Singapore ofDirectors) Institute Losing Control –aBoard Perspective (Asian Public Estate Real Association) andSunway ClubofMalaysia College) University (Harvard Professional Talk onCopenhagen Metro Design Malaysian REITsMalaysian thePotential –Realising Malaysia and Selangor inrespectthereof andSelangor Malaysia oftheGovernment Meltdown andtheResponse Impact and Response andResponse Impact Perbadanan Insuran Deposit Malaysia) Perbadanan Deposit Insuran (Bank Negara Malaysia and (Bank NegaraMalaysia (Bursatra Sdn Bhd) (Bursatra Sdn 10 &11August 2009 13 November 2008 24 November 2008 20 November 2008 16 December 2009 16 December 15 &16June2009, 20 & 21 April 2009, 20 &21April 4 September 2009 4 December 2008 4 December 13 &14July2009, 16 February 2009 13 October 2009 13 October 11 August 2009 17 March 2009 24 June2009 29 May 2009 29 May Date 2. 1. Meetings. are intheminutes incorporated such reports oftheBoard Board onalltheirdeliberationsandrecommendations and procedures. The Committees are required to the to report review ofreference theirterms periodically andoperating The Board hassetupthefollowing Committees andwill BOARD COMMITTEES Annual Report. are disclosedinthis andre-appointment for re-election meetings andtheshareholdings ofeachDirector standing information suchaspersonalprofile, attendance of To assisttheshareholders intheirdecision,sufficient of theCompany. Meeting AnnualGeneral appointment attheforthcoming are to suchretirement subject andare eligible for re- M Hashimand Tan Dato’ Sri Ir Talha Hashim BinHajiMohd 129(6)oftheCompanies 1965.DatukRazman Act, Section inaccordance Meeting with AnnualGeneral until thenext may offer themselves to holdoffice for re-appointment to approvalsubject beingobtained from theshareholders, oftheCompany Meeting AnnualGeneral and at every Directors whoare oforover theageof70years shallretire Pursuant 129(2)oftheCompanies 1965, Act, to Section orappointment. longest inofficesincetheirlastelection Directors to retire ineachyear are thosewhohave been 3years butshallbeeligible forTheonce every re-election. Meeting.Annual General EachDirector shallretire atleast of theBoardto retirement issubject by rotation ateach The Company’s ofAssociation provides that1/3 Articles RE-ELECTION RE-APPOINTMENT, BY RETIREMENT ROTATION AND were to theBoard reported for approval. All deliberationsand recommendations ofthe EXCO thefinancialperiod, theEXCODuring met8times. Annual Report. EXCO are set outonpages129to 131ofthe affairs oftheGroup. of The terms reference ofthe the Board inoverseeing thefinancialandbusiness role isto assist Executive anditsprimary Chairman The EXCO 6membersheadedby the comprises Executive Committee oftheBoard (“EXCO”) on pages137to 141oftheAnnualReport. are ofitsactivities setout meetings andasummary Committee, ofreference, itsterms attendance of responsibilities. The compositionoftheAudit in assistingtheBoard indischarging itsgovernance How and Tan Siak Tee, issetupto play role an active Talha HashimasChairman, BinHajiMohd Teo Tong The Audit Committee comprising Tan Dato’ Sri Ir Audit Committee 4. 3. Corporate Governance Statement Governance Corporate Dato’ DrJeffrey Cheah Seri Fook Ling. How. The othermember oftheCommittee is Tan Sri and HashimasChairman Bin HajiMohd Teo Tong Non-Executive Directors namely Tan Dato’ Sri Ir Talha CommitteeThe Remuneration mainly comprises Remuneration Committee (e) (d) (c) (b) (a) the following purposes:- thefinancialperiod, 3meetings During were held for Annual Report. Committee are setoutonpage132ofthe Director. The ofreference terms oftheNomination ofeach Board asawholewell astheperformance The Committee alsoassessestheeffectiveness ofthe ofBoard members. appointments andre-election recommendations foridentifying andmaking any The NominationCommittee isresponsible for are Teo Tong How and Tan Siak Tee. Hashim. Mohd The othermembersoftheCommittee of thisCommittee is Tan Dato’ Sri Ir Talha BinHaji Non-ExecutiveIndependent Directors. The Chairman The NominationCommittee 3wholly comprises Nomination Committee Koong Koong Wai Seng. Yean ShinasamemberoftheEXCO inplaceof to consider theappointmentofEvan Cheah and Seng; as amemberoftheEXCO inplaceof Yau Kok to consider theappointmentofKoong Wai Seng shareholders; to Meeting, theapprovalGeneral subject of ofAssociation attheCompany’sArticles Annual 77(2)oftheCompany’sLip pursuantto Article ofDato’to endorsethere-election Ng Tiong shareholders; to Meeting, theapprovalGeneral subject of retiring by rotation attheCompany’s Annual ofDirectors to endorsethere-election re-appointment; abstained from deliberatingandvoting onhis Tan Dato’ Sri Ir Talha Hashim BinHajiMohd and attheNominationCommittee Meeting, at theCompany’s Meeting AnnualGeneral to theapproval1965 subject ofshareholders 129oftheCompanies Act, pursuant to Section age of70years, asaDirector oftheCompany Ir Talha Hashim whoisover BinHajiMohd the of to endorsethere-appointment Tan Dato’ Sri 125 Sunway City Berhad Annual Report 2009 126

Sunway City Berhad Annual Report 2009 6. 5. Statement Governance Corporate Group, approving appropriate management risk ofthe oversee managementactivities therisk withtheresponsibility to The RMCistasked and Tan Poh Chan. Ngeow Voon Yean, Yuen Kam Wah, Lee Weng Keng NgianThe SiongasChairman, RMCcomprises Siew Management CommitteeRisk (“RMC”) and dueto resignation from theGroup. transfer to acompany whichisoutside theGroup employees to continueholding theiroptionsdueto to consider andapprove theapplicationsmadeby thefinancialperiod, 2meetings During were held Annual Report. Committee are setoutonpages134and135of the Laws oftheESOS. The ofreference terms oftheESOS powers andduties conferred uponitundertheBye- theESOSinaccordanceadministering with such is responsible for implementing, allocatingand M Hashim,Ngian SiongandNgeow Siew Voon Yean, Jeffrey Cheah Razman Datuk Fook LingasChairman, The ESOSCommittee comprising Tan Dato’ Sri Dr Seri Committee Employees’ Share (“ESOS”) Scheme Option invitation oftheCommittee. Human Resources attended thesaidmeetingson The Executive ofGroup Director Manager andSenior (c) (b) (a) the following purposes:- thefinancialperiod, 5meetings During were held for out onpage133oftheAnnualReport. reference Committee oftheRemuneration are set needed to runtheGroup successfully. The of terms that theCompany andretains attracts theDirectors for Executive Directors, withtheaimofensuring the renewal ofEmployment oftheterms Contracts Board theproposed remuneration for Directors and CommitteeThe Remuneration recommends to the Executive Directors. ofthe to considertherevised benefits-in-kind and ManagingDirectors; and Executive forContracts theDeputy Chairman to considertherenewal ofEmployment increments andbonuses; Directors andto endorsetheirannual oftheExecutiveto evaluate theperformance

subject to theapprovalsubject ofshareholders. The fees payable to theNon-Executive Directors are from decisionsinrespectoftheirindividualremuneration. Executive Directors withindividualDirectors abstaining The Board asawholeresolves onthefees for theNon- and level ofresponsibilities. Directors, thelevel ofremuneration reflects theexperience For andindividualperformance. corporate Non-Executive rewardsDirectors to is structuredonthebasisoflinking Executive Directors. The remuneration oftheExecutive forthe remunerationExecutive packages andNon- companies areinto considerationindetermining taken dataontheremunerationofcomparable practices survey preparedInformation by independentconsultantsand B. page 136oftheAnnualReport. The ofreference terms oftheRMCare setouton management ofstrategic oftheGroup. businessrisks across theorganisation aswell asidentificationand procedures andmeasurement methodologies basis onitsdeliberationsandrecommendations. directlyto theBoardThe RMCreports onaquarterly (f) (e) (d) (c) (b) (a) the following purposes:- thefinancialperiod, 8meetings During were held for DIRECTORS’ REMUNERATION uncertainties on the performance oftheGroup. ontheperformance uncertainties ofeconomic to discussontheimpact the GovernanceScorecard; and and risks enterprise-wide to deliberate onkey risks; recommendationsproposed to key mitigate the onany and to irregularities discussandreport strategic businessrisks; managementissues/ environment risk andkey changesinthebusiness to discussthekey risks; plans to manageandmitigate theidentified to review thestatusofimplementationaction management; scorecarddivisional risk for effectivenessrisk of profileto risk and review theenterprise The detailsoftheDirectors’ are remuneration thefinancialperiod as during follows:- ended 31 December 2009areended 31December setoutonpage157oftheAnnualReport. period Directors’financial Company’sthe forthe the of ESOS to details pursuant Theshares ordinary over options The numberofDirectors whoseremuneration fallsunderthefollowing bandsisasfollows:- information. from whichinvestors andshareholders canaccessfor has establishedawebsite atwww.sunwaycity.com announcedto theGroup BursaSecurities, Reports andQuarterly additionto published AnnualReport In roadshows, andinvestor conferences inSingapore. indomesticandoverseasCompany hadalsoparticipated meetings withinvestors andresearch analysts. The press andheld50 andanalystsbriefings quarterly thefinancialperiod, the During Company hadconducted affecting shareholders’ interests. strategy corporate andothermatters performance, and themediato convey information abouttheGroup’s with fundmanagers, financialanalysts, shareholders relations programme, discussionsanddialoguesare held oftheGroup’s thisrespect,aspart In investor active clear communicationwithitsshareholders andinvestors. The Board valuesconstantdialogueandiscommitted to INVESTORS DIALOGUETHE COMPANY BETWEEN AND C. Total: RM4,800,001 to RM4,850,000 RM1,100,001 to RM1,150,000 RM700,001 to RM750,000 RM450,001 to RM500,000 Below RM100,000 Range ofRemunerationRange Fees Other Emoluments Other Benefits-in-kind Bonus andotherRemuneration Salaries Total: SHAREHOLDERS

1,674,028.00 6,324,082.00 ,0,4.530000 8,725,442.85 320,000.00 8,405,442.85 Corporate Governance Statement Governance Corporate 407,332.85 Executive Executive Directors Directors the investing public. to, andindealingwithinvestors, analysts, mediaand informationand structureindisseminatingcorporate insider trading. This Policy alsoprovides guidance on rumoursandrestrictions response to market ofinformation willbemaintained,the confidentiality information,material thecircumstances underwhich toward anddisseminationof thedetermination Policy whichoutlinestheCompany’s approach had approved andadopted aCorporate Disclosure information. price-sensitive To achieve this, theBoard governingframework therelease and ofmaterial stakeholders, itismindfulofthelegalandregulatory information aspossibleto itsshareholders and While theCompany endeavours to provide as much shareholders’ information. easyaccessto suchkey financialinformation to facilitatehighlighting key together withitsAnnualReport, summary The Company alsoprovides aseparate executive - - RM 5 1 2 1 1 - Non-Executive Non-Executive 7,0.0276,000.00 276,000.00 Directors Directors 4000 44,000.00 44,000.00 - - - RM 5 5 - - - - 1,674,028.00 6,324,082.00 407,332.85 Total Total RM 10 1 2 1 1 5 127 Sunway City Berhad Annual Report 2009 128

Sunway City Berhad Annual Report 2009

2.

 setoutonpages137to 141oftheAnnualReport. Report Auditorsthe External isdisclosedintheAudit Committee Auditors. The role oftheAudit Committee inrelation to transparent andprofessional relationship withtheExternal The Board maintains, viatheAudit Committee, anactive, RELATIONSHIP AUDITORSWITH EXTERNAL state controls ofinternal withintheGroup. ofthe provides anoverview and 143oftheAnnualReport ControlThe Statement onInternal setoutonpages142 INTERNAL CONTROL reporting. processesofitsfinancial andthequality financial reporting assisted by theAudit Committee to oversee the Group’s andprospects. position, performance The Board is understandable assessmentoftheGroup’s financial shareholders, theBoard aimsto provide abalancedand announcementofresults to andquarterly report presenting theannualfinancialstatements,In annual FINANCIAL REPORTING D. information isencouraged. and relevant ofpertinent meetings onclarifications shareholders, bothindividualsandinstitutionalatgeneral the Board andtheshareholders. of The participation forumthe principal for between dialogueandinteraction oftheCompany Meeting The AnnualGeneral provides ANNUAL MEETING GENERAL 1. also beconveyed to thefollowing persons:- this emailaddress, [email protected] ormay oninvestorenquiries related matters may bedirected to Group’s businessesandlatest developments. Any relations whichprovides detailedinformation onthe The Group’s website dedicated to hasasection investor INVESTOR RELATIONS SERVICE Statement Governance Corporate Email Fax No Tel No Executive -Investor Relations Jared Mr Tan Email Fax No Tel No Chief Financial Officer Ms Tan Poh Chan ACCOUNTABILITY ANDAUDIT : : : : : : [email protected] (603) 56399559 (603) 56399289 [email protected] (603) 56399559 (603) 56399668 Audited Financial Statements. answer any questionsfrom shareholders ontheAnnual Company’s andare Meeting available AnnualGeneral to Auditors addition, theExternal are invitedIn to attend the relevant statutory requirements.relevant statutory to ensure thatthefinancialstatements comply withthe Company andoftheGroup andwhichenablesthem with reasonable accuracy, thefinancialpositionof accounting andotherrecords arewhichdisclose kept The Directors are alsoresponsible for thatproper ensuring Companies 1965have Act, beencompliedwith. approved accountingstandards andprovisions ofthe judgments andestimates have beenmade. Allapplicable applied consistently, andthatreasonable andprudent ensure thatsuitableaccounting policieshave been preparing thefinancialstatements,In theDirectors will period. the Company andoftheGroup attheendoffinancial ofthestatefair view ofaffairs, results and cashflows of Annual Audited Financial Statements to give atrueand The Directors are responsible inthepreparation ofthe E. Executive Chairman Tan SriDato’ Jeffrey Dr Seri Cheah Fook Ling, by theBoard on25February ofDirectors 2010. This Corporate Governance Statement was approved outlinedintheCode.and bestpractices The Group hascompliedsubstantiallywiththeprinciples F. STATEMENTS ON ANNUAL AUDITED FINANCIAL DIRECTORS’ STATEMENT RESPONSIBILITY COMPLIANCE WITH THE CODE AO 5. 4. 3. 2. 1. of theCompany’s business. EXCO shallberesponsible for overseeing any andallaffairs appointed by andunderthe control oftheBoard. The whose members(whoneednotbeDirectors) shallbe by theBoard through anExecutive Committee (“EXCO”) The managementoftheCompany out shallbecarried meeting shallproceed withoutGIC. said EXCO meetingshallbeforfeited andthesaid be considered thequorumfor indetermining the meetingthereof,or attheadjourned GIC’s to right person orby proxy atthefirstmeetingofEXCO 9 below. theevent where GICfailsto In attend in “deadlock” which shallbedealtwithunderClause meeting, any memberattending may declare a Should aquorumnotbesatisfiedattheadjourned days before meeting. thedate oftheadjourned given atleast2working to allmembersinwriting meeting”). meetingshallbe Noticeoftheadjourned to alatershall beadjourned date (“adjourned meeting. Where quorum is notsatisfied, themeeting present inpersonorrepresented by proxy atthat represented by proxy, provided thatGICshallbe members oftheEXCO are present inpersonor ofthe A quorumshallexistwhenamajority considered atsuchmeeting. documents, agreements andinformation to be and(ii)whereof purpose; possible, copiesofall accompanied by (i)aproposed agendaorstatement as may bemutuallyagreed. The noticeshallbe noticeperiod noticeorsuchshorter written prior a meetingoftheEXCO by giving atleast7days Any memberoftheEXCO may atany timecall reasonable suchrequest. after period the Company shallprovide withina suchareport any time, request and foronany transaction areport Berhad. Securities Malaysia The EXCO may also, at financial statements have beensubmitted to Bursa shall begiven to theEXCO within7days the after from the end of such period. The financial statements and shallbereceived by theEXCO within30days asthe EXCOother prescribed period shallrequest) (or period which took placewithinthequarterly shall capture orsubstantial transactions allmaterial provided atleastonamonthlybasis. The report be inaformat accepted by theEXCO, andshallbe as well aseachoftheCompany’s shall subsidiaries subsidiaries. The ontheCompany regular report and businessaffairsofthe Company andits to thestatusoffinancial pertaining regular report Each memberoftheEXCO willbeprovided witha meetinginperson. to attendevery their bestefforts quarter. Allmembers oftheEXCOevery shalluse to meetatleastonce and willuseitsbestefforts The EXCO willestablisharegular meetingschedule Investment Pte Corporation Ltd (“GIC”). designated by theGovernmentofSingapore The EXCO shallconsistof6members, with1member Executive Committee Of Board Of The CommitteeExecutive 10. 9. 8. 7. 6.

Terms Of Reference Of Of ReferenceTerms Of (a) above:- approval oftheEXCO inaccordance withClause6 Any ofthefollowing matters shallrequire the question to theBoard for decision. of theEXCO, any membermay refer thematter in theevent ofadeadlockamongthemembers In be placedintheminute bookoftheEXCO. member thereafter. The dulysigned resolution shall approval by such inwriting shallbeconfirmed by telefax ortelex by any suchmembers, which expressions ‘in writing’ and ‘signed’ includeapproval each signed by oneormore ofthemembers. The formmay consistofseveral documentsinlike convened andheld. Any suchresolution inwriting resolution passedatameeting oftheEXCO duly of theEXCO shallbeasvalidandeffective asa A resolution signed inwriting by allthemembers the EXCO within10days ofthedate ofthemeeting. prepared, circulated andsigned by allmembersof The EXCO willcauseminutes ofallmeetingsto be which shallbedealtwithunderClause9below. present atthemeetingmay declare a “deadlock”, the member’s votes are evenly divided, any member achieved, (ii)GICvoted againstthemajority, or(iii) asprovidedWhere herein (i)asimplemajority isnot the saidmajority, unlessGICabstainsfrom voting. and voted atthemeeting, butmustincludeGICin vote ofallmemberswhoattendeda simplemajority by theEXCOAll decisionsand/oractions shallrequire (b) (c) (d) sharing agreementsharing by theCompany. into any jointventure, orprofit Entry partnership additions thereto). amendments, modifications, addendumor year oftheGroup Company (includingany Company/Group Companies”) for eachfinancial 1965(hereinafterAct, referred to as “Group asdefinedinthe Companies corporations Business Plan for theCompany anditsrelated capital budget(“Annual orthe Budget”) The approval oftheannualoperatingand as contemplated herein. courseofbusiness, exceptthan intheordinary into and/orentering other anyliability contract Company, acceptingany form ofadditional assetorshare by aGroupin any undertaking, Acquisition and/ordisposalof, orinvestment Budget orBusiness Plan oftheCompany. except asprovidedcurrency), intheAnnual RM1,000,000 (or itsequivalentinanother oramendmentinexcessof thecontract of Company orany shareholder over thelife involvingcontract payments by orto the orany amendmenttocontracts), anexisting intoEntering of (or any series contract 129 Sunway City Berhad Annual Report 2009 130

Sunway City Berhad Annual Report 2009 Board Of The CommitteeExecutive Of ReferenceTerms Of (m) (l) (k) (j) (i) (h) (g) (f) (e) between theCompanybetween Loop andReco Pte Ltd. AgreementSubscription 1999 dated 13October Preference Shares inaccordance withtheShare proceeds thereof inortowards the converting any suchshares for ofapplyingthe thepurpose shares otherthantheissueandallotmentof ofany oftherights classof or thevariation while any ofthePreference Shares are inissue Company orbeingcapableofredeemed Shares inassetsofthe asregards participation passuwiththePreference to orpari in priority into shareor othersecurities capital, ranking forsubscribe shares, orto convert debentures Granting any by theCompany rights to to time. applicable to suchGroup Company from time policies generallyaccepted inthejurisdiction other thanasrequired by law oraccounting accounting policiesofeachGroup Company, The adoptionof, orany significant changeinthe Company (whetherincashorspecie). ofprofitsor otherdistribution ofeachGroup The declarationorpayment ofany dividends Group Company. The dissolution,liquidationorwinding-upofa orotherbody.with any firm corporation, Company, orany merger ofaGroup Company Any amalgamationorreconstructionof aGroup courseofbusiness. ordinary by aGroup Companyproperty otherthaninthe having aninterestcorporation inlandorreal orestablishmentofanyincorporation ortheacquisition, whatsoever description, wheresoever situatedor real andof property acquire ordisposeofany interest inany land acquisition ordisposal, orthe agreement to respectof eachGroup Company,In the to provide guarantees orindemnities. The exercise ofeachGroup Company’s powers orassets. property encumbrance over eachGroup Company’s The creation ofanycharge or other mortgage, Company. any classofshares new inthecapitalofaGroup share capital of a Group Company or the issue of issue orgrant ofany optionover theunissued accordance withparagraph (b)above) orthe inanAnnualBudgetapprovedpermitted in share capitalofaGroup Company (other than orreducingIncreasing orissued theauthorised

(u) (t) (s) (r) (q) (p) (o) (n) subsidiary oftheCompany.subsidiary any otherfinancing required by any associate or withany loans,connection credit facilitiesor in any liability any incurring ofitssubsidiaries whichmay result intheCompanysupport or orotherfinancialnon-financial indemnity to issueor provide any form ofguarantee, any ofitssubsidiaries orotherwise) inaction Issuing orproviding (whetherby orpermitting any year. aggregate amountexceeding RM5,000,000in for oftransactions an oraseries transaction to acquireits subsidiaries any assetinone any of orotherwise) (whether by inaction investments,new orpermitting oracquiring any any to make ofitssubsidiaries otherwise) or (whetherby inaction orpermitting Making Company. owing to theshareholders ofthe orsubsidiaries exist any indebtedness dueorowing orto be Creating, incurring,assuming orsuffering to Shares.Ordinary attached to thePreference Shares and/or orabrogating therights Modifying, varying oftheholdersPreferencerights Shares. manner whichwould beinconsistent withthe ofAssociation inany andArticles Memorandum Adding to, oramendingits deleting, varying capital. repayment to any memberofany paid-upshare inrespectofunpaidshareliability capitalorthe the reductioninvolves eitherthediminution of oftheCompanycapital redemption reserve if thereof orany share premium accountor the Company inrespect orany uncalledliability oftheshare capitalof alloranyReducing part oftheCompany.redemption reserve share premium accountandthecapital winding-up oftheCompany) includingthe (other thanapayment inthecourseofa on any share inthecapitalofCompany ofthecapitalpaid-up Repaying allorany part Shares. into Ordinary other securities forsubscribe shares, orto convert debentures or or granting any by theCompany rights to SharesIssuing any by theCompany Ordinary

(w) (v) to itorthemby any upon personortheterms not exceeding RM1,000,000atany timeowed toone year anaggregate subject overall limit indebtedness notexceeding RM500,000inany any amountofindebtedness otherthansuch release, surrender, reduce, waive, amendorvary any to ofitssubsidiaries orotherwise) inaction (whetherby orpermitting amending orvarying Releasing, surrendering, reducing, waiving, Preference Shares. ofpayment to theconversionpriority ofallthe all otherpayments are to besubordinated in Company thatallinterest, interms and principal to the byloans to thatsubsidiary beextended by way loanor ofdividendoralong-term to theCompany whether paid by thatsubsidiary business where theproceeds ofsaleare to be courseof commercial intheordinary terms atarm’s subsidiaries wholly-owned lengthon in any year except for thesaleofassetsby its any aggregate amountexceeding RM1,000,000 whether now owned orhereafter acquired for ofitsortheirbusinessassets all orany part of, oftransactions, oraseries inonetransaction convey, sell, dispose lease, transfer orotherwise any to ofitssubsidiaries orotherwise) inaction (whetherby disposingorpermitting otherwise Conveying, selling, leasing, transferring or Terms Of Reference Of Executive Committee Of Board Of The CommitteeExecutive Of ReferenceTerms Of

11. (x) Articles ofAssociation). Articles with theShare Agreement Subscription and/orthe Shares inaccordance tobeen converted Ordinary Preference Shares asifsuchPreference Shares have paid-up share capitalintheCompany (includingthe thatitislessthan10%ofthethenissuedand extent (including Preference Shares) isreduced to the at any timewhenGIC’s aggregate shareholding ofGICshallbeautomaticallyThe extinguished rights company whichowes thesameorotherwise. thereof intoor any orfor part share capitalinthe whether by conversion orexchange ofthesame to thecapitalisationofany suchindebtedness, any to agree ofitssubsidiaries or otherwise) agreeing (whetherby to inaction orpermitting which thesameisoutstandingandinparticular, the IssueDate. directlyorindirectlyasat conduct subsidiaries ofthebusinessoperationswhichitorits part to suspendorthreaten to suspendasubstantial any ofitssubsidiaries orotherwise) by inaction (whether asattheIssueDate orpermit conduct business operationswhichitoritssubsidiaries to changethenature orscopeofitstheir any to changeorthreaten ofitssubsidiaries orotherwise) (whetherby inaction permitting Changing orthreatening to changeor 131 Sunway City Berhad Annual Report 2009 132

Sunway City Berhad Annual Report 2009 3. 2. 1. Committee Nomination Of ReferenceTerms Of (d) (c) (b) (a) FUNCTIONS (b) (a) AUTHORITY (d) (c) (b) (a) MEMBERSHIP the Board. directorships to befilled by theshareholders or To recommend to theBoard, candidates for all satisfies this requirement. and whetherthecurrent Board representation shareholders intheCompany,the minority reflecttheinvestmentswhich shouldfairly of number ofDirectors theBoard to comprise To recommend to theBoard ontheappropriate independent. also to ensure thatatleast1/3oftheBoard is additional Board membersare required and Board if balanceanddetermine participation, To review thesize ofNon-Executive andcompetencies.reflect thedesired skills whole andtheoptimumsize oftheBoard to business andoperationsoftheGroup asa required the ofBoard membersto bestserve To thecore determine competencies andskills recommendations ofsuchaCommittee. of thefullBoard the considering after nominated shouldbetheresponsibility The ultimate decisionasto whoshallbe basis. on-going Board andfor assessingexistingDirectors onan the taskofproposing nomineesfor new the The NominationCommittee isentrusted with months fillthevacancy. reduced to below 3,theBoard shall, within3 resulting inthenumberofmembers being intheCommittee theevent ofany vacancy In an Executive Director oftheCompany. fromChairman amongtheirnumberwhoisnot The membersoftheCommittee a shallelect Directors.shall beindependentnon-executive ofthemembersCommittee The majority notfewershall comprise than 3innumber. by theBoard from amongtheirnumberand The NominationCommittee shallbeappointed 6. 5. 4. Company Secretary. to theCommittee shallbethe The Secretary SECRETARY meeting to theBoard. oneach oftheCommitteeThe Chairman shallreport REPORTING (b) (a) MEETINGS (i) (h) (g) (f) (e) members. The quorumfor themeetingshallbe2 Chairman’s discretion. at any timeattheNominationCommittee However, additionalmeetingsmay becalled The Committee shallmeetatleastonceayear. Committee’s objective. procedures effectively to function andfulfillthe To introduce suchregulations orguidelines, Committee members. ofDirectors andBoard of and performance Board andfor assessingthecontributions the Board asawhole, theCommittees ofthe annually for assessingtheeffectiveness of outby theNominationCommitteebe carried To assisttheBoard to implementaprocedure to Board andto disclosethisintheAnnualReport. Non-Executive to Directors the shouldbring of Directors, includingcore competencies which andotherqualities andexperience mix ofskills To anannualreview oftherequired undertake Board Committees. officers ofthe Company tofilltheseatson To recommend to theBoard, Directors or any Director orshareholder. of practicability, by any otherseniorexecutive or and,Chief Executive withinthebounds Officer candidates for directorships proposed by the To itsrecommendations, considerinmaking 1.

2.

3.

Terms Of Reference Of Remuneration Committee Remuneration Of ReferenceTerms Of (a) CommitteeThe Remuneration shall:- OBJECTIVES (b) (c) (a) MEMBERSHIP (d) (b) (a) FUNCTIONS (b) Directors to runtheCompany successfully. andshould besufficient toattract retain andthelevels ofremuneration performance to theCompany’scontributions overall are rewarded fairly for theirindividual Ensure thattheCompany’s Executive Directors the Company. and to thefinancialandcommercial healthof due regard to theinterests ofthestakeholders outcome oftheirdecisionsandwhowillgive members whohave nopersonalinterest inthe of theCompany issetby aCommittee ofBoard that theremuneration ofthe Executive Directors inthebusiness Demonstrate to allstakeholders an Executive Director oftheCompany. fromChairman amongtheirnumberwhoisnot The membersoftheCommittee a shallelect (ii) composed ofnotfewer than3innumber. Board from amongtheirnumberandshallbe The Committee shallbeappointed by the months fillthevacancy. reduced to below 3,theBoard shall, within3 resulting inthenumberofmembersbeing intheCommittee theevent ofany vacancy In (i) Committee shallbe:- the ofthememberscomprising The majority (ii) and Executive Directors. the Executive ChiefExecutive Chairman, Officer To recommend to theBoard theremuneration of (i) Executive Directors’ remuneration eg: Assume responsibilityfor allelementsof the Remuneration Committee.the Remuneration of outthefunctions judgment incarrying interfere withtheexercise ofindependent which, intheopinionofBoard, would any personnothaving arelationship or Non-Executive Directors oftheCompany; Profit schemes(ifany) sharing Basic salary

4.

5. (c) (d) (e) (f) (g) (h) (i) (j) (a) MEETINGS (b) Human Resource. of Manager General orSenior Company Secretary to theCommittee shallbethe The Secretary SECRETARY (v) (iv) (iii) levels ofmanagementismaintained. remuneration ofBoard membersandother Ensure thatafairdifferential the between performance. is directlyrelated to andindividual corporate Executive Directors to ensure thatremuneration continuedassessmentofindividual Conduct comparable industry sector.comparable industry of othercompaniesasimilarsize ina Directors andthosepaidto Executive Directors remuneration by currently theExecutive earned source,external ifnecessary, to compare the Obtain theadviceandinformation from competitive butfair. To elementis ensure thatthebasesalary etc. company pershare, earnings profit performance, formula isbasedonindividualperformance, related formulaperformance ie. whetherthe To adviseonandmonitor, asuitable Directors. assessment ofthebenefits granted to Executive To provide andindependent anobjective and responsibilities. effective discharge ofthe Committee’s duties would enablethesmoothadministrationand To introduce orguidelineswhich any policy the Committee. To to theBoard areport ofany furnish findingsof Chairman’s discretion. at any Committee timeattheRemuneration However, additionalmeetings may becalled The Committee shallmeetatleastonceperyear. members. The quorumofeachmeeting shallbe2 Compensation for termination early Any otherbenefits Share Options 133 Sunway City Berhad Annual Report 2009 134

Sunway City Berhad Annual Report 2009 1. Employees’Committee Scheme Option Share Of ReferenceTerms Of

2.

(a) MEMBERSHIP (b)  (c) (d)  (a) powers:- are conferred uponitby theBoard includingthe deem fitandwithsuchpowers anddutiesas (“ESOS”) insuch manner asitshallinitsdiscretion administer theEmployees’ Share Option Scheme Pursuant 21,theCommittee shall to Bye-Law FUNCTIONS (b)  composed ofnotfewer than3innumber. Board from amongtheirnumberandshallbe The Committee shallbeappointed by the Chairman fromChairman amongtheirnumber. The members oftheCommittee a shallelect months fillthevacancy. reduced to below 3,theBoard shall, within3 resulting inthenumberofmembersbeing intheCommittee theevent ofany vacancy In Committee. appointment ofany person(s)inthe deems fit to rescind and/or the revoke The Board shallhave thediscretion asit fully effective. to theESOS expedite andmake necessary itshalldeem in amannerandto theextent in any agreement providing for anoption(s) or reconcile intheESOSor any inconsistency anymay correct defect, supplyany omission The Committee intheexercise ofthispower relating to theESOSanditsadministration. amend andrevoke rulesandregulations and to recommend to theBoard to establish, granted underit,to therein definethe terms construe andinterpret theESOSandoption(s) to theprovisionsSubject oftheESOS,to promote thebestinterests oftheCompany. orexpedientto as are deemednecessary exercise suchacts suchpowers andperform administration oftheESOSandgenerally inthe thatmay arise and expediency To allquestionsofpolicy determine 3.2 3.1 3.

(a) to thateffect:- have atitsdiscretion theright by noticeinwriting Pursuant 8.6,theCommittee shall to Bye-Law continued successoftheGroup. oftheemployees tothe potential the worth and numberofyears ofservice performance, into considerationthecontribution, taking after eligible employees inaccordance withtheESOS discretion to offer suchnumberofoptions to Pursuant 4.1,theCommittee hasthe to Bye-Law POWERS ANDAUTHORITY (b)  OR ofsuchOptionHolder; ofservice termination upon pronouncement ofthedismissalor shall immediately ceasewithoutnotice, ofsuchOptionHolder,service theoption(s) would result of inthedismissal or termination ALWAYS thatintheevent suchcontravention to thenature ofthecontravention PROVIDED ofexerciseright ofhisoption(s)having regard deem appropriate initsdiscretion, onthe andconditionsastheCommitteeterms shall suspension, theCommittee may imposesuch of additionto thisright his option(s).In proceeding beinginstituted) to exercise contravention may give to adisciplinary rise Holder’s employment (whetherornotsuch andconditionsoftheOption or theterms policies andguidelinesoftheGroup and/ who isfound to have contravened thewritten ofanyto suspendtheright OptionHolder Holder, ALWAYS PROVIDED that:- charges made orbrought againstsuchOption option(s) having regard to thenature ofthe its discretion, ofexercise onthe right ofhis the Committee shalldeemappropriate in may andconditionsas imposesuchterms ofsuspension,theCommitteeto thisright proceedings. addition In of suchdisciplinary to exercise hisoption(s)pendingtheoutcome ofsuchOptionHolder) ofservice termination proceedings may give to adismissalor rise proceedings (whetherornotsuchdisciplinary towho isbeingsubjected disciplinary ofanyto suspend theright OptionHolder 3.3

modification shallbemadewhich would either:- PROVIDED THAT nosuchamendmentand/or regulations, directives andguidelines(ifrequired) all relevantandapplicablelaws, authorities mayto theapprovalthey deemfit,subject of thereof as such recommendation, orsuchpart upon and/or delete allorany oftheBye-Laws have thepower by resolution to addto, amend absolute discretion thinkfitandtheBoard shall asitshallinits and/or deletionsoftheBye-Laws to theBoard, any additionsoramendmentsto at any timeand from timeto timerecommend 20.1stipulates thattheCommittee mayBye-Law (iii) (ii) (i) appropriate, onsuchexercise. andconditionsasitdeems such terms exercise hisoption(s)andifso, to impose not theOptionHoldermay continueto atitsdiscretiondetermine whetheror the Committee shallhave to theright isrecommended, ofservice termination found butnotdismissedor guilty in theevent suchOptionHolderis Holder; or Holder; ofsuchOption ofservice termination pronouncement ofthedismissalor immediately ceasewithoutnotice, upon Option Holder, theoption(s)shall ofsuch ofservice or termination found resulting guilty inthedismissal in theevent suchOptionHolderis option(s); or of suchOptionHolderto exercise his the Committee shall reinstate theright proceedings, to suchdisciplinary rise ofthecharges whichgavenot guilty in theevent suchOptionHolderisfound Employees’Committee Scheme Option Share

4. 3.4

5. 6. (a) (b) (a) MEETINGS by theBoard from timeto time. Laws and/orare conferred upontheCommittee asgoverned bySuch otherauthorities theBye- (b)  (c) Board. proceedings ofeachCommittee to the Meeting the oftheCommitteeThe Chairman shallreport REPORTING Company Secretary. to theCommittee shallbethe The Secretary SECRETARY without his prior consent;or without hisprior Option Holderwhohasaccepted anoption prejudice thenaccruedto any therights Option Holders. Holder orgroup ofOptionHoldersorall to theadvantageofany Option Bye-Laws of theCompany ingeneralmeetingalter the approvalwithout theprior oftheshareholders any timeby theCommittee Chairman. oftheCommitteeMeetings may becalledat members. The quorumfor themeetingshallbe2 Resolution. ofthemembersviaaCircular by amajority decision oftheCommittee canbemade andappropriate,Where any necessary Terms Of Reference Of Of ReferenceTerms Of 135 Sunway City Berhad Annual Report 2009 136

Sunway City Berhad Annual Report 2009 1. Committee Management Risk Of ReferenceTerms Of

2.

(a) MEMBERSHIP (b) (c) (d) (a) roles includethefollowing:-Group. primary Its and managementofstrategic ofthe businessrisks across theorganisation aswell asidentification procedures andmeasurement methodologies Group, approving appropriate management risk ofthe overseeing managementactivities therisk The RMChastheoverall responsibilityfor ROLES ANDFUNCTIONS (b) (c) (d) risks withintheorganisation.risks RMC by identifyingandmanaging operational Divisionwillassistthe Group Management Risk andthe The Risk CommitteeWorking (“RWC”) comprise notfewercomprise than5innumber. shall beappointed by theBoard andshall Committee Management (“RMC”) The Risk Chairman fromChairman amongtheirnumber. a The members oftheRMCshallelect months fillthevacancy. reduced to below 5,theBoard shall, within3 resulting inthenumberofmembersbeing intheRMC theevent ofany vacancy In appointment ofany person(s)intheRMC. deems fit to rescind and/or the revoke The Board shallhave thediscretion asit throughout theGroup. process andculture are embedded and to ensure management thattherisk (i.e. awarenessManagement risk andtraining) To championandpromote Risk theEnterprise Policy andcompliancewiththem. Management outlinedintheRisk objectives To ensure theimplementationof proposals. oninvestment andevaluation reporting with theirmitigationplanaswell asadhoc togetherupdate risks the Board onkey To and reporting provide routine quarterly approvals oftheAudit Committee andBoard. andto recommend thesameforReport the Control for inclusionintheCompany’s Annual preparation ofthe Statement onInternal inthe Auditand Group Department Internal To withtheGroup work Financial Controller 2.1

2.2

3.

4. 5. (a) andResponsibilities Roles Routine reporting. quarterly with theirmitigationplanto theRMCthrough providestogether risks updates onkey The RWC (b) (c) (d) (e) (a) Ad and Responsibilities HocRoles (b) (a) MEETINGS (b) Board. proceedings ofeach Committee to the Meeting the oftheRMCshallreport The Chairman REPORTING Secretary. to theRMCshallbeCompanyThe Secretary SECRETARY management at the enterprise level.management attheenterprise theeffectiveness of Review overallrisk the divisionallevel. on RWC identified Evaluateby the risks new compiled by theRWC. based onthestatusofimplementation Follow-up plans onmanagementaction development, etc. matterscorporate e.g. regulatory, business strategicIdentify new including risks Board on a quarterly basis. Board onaquarterly to beescalated therisks determine to the scorecard risk theenterprise and Review endorsement before submissionto theBoard. that require theRMC’s and evaluation and nature ofproposed investments Propose threshold to theBoard, themonetary for finaldecision. threshold before recommending to theBoard by projectsponsorwhichmeettherequisite proposals/feasibilityReview studiesprepared at any timeatthe RMCChairman’s discretion. However, additionalmeetingsmay becalled inayear.The RMCshallmeetatleastquarterly members. The quorumfor themeetingshall be3 3. 2. 1. follows:- December 2009 ended31 werefinancial period as The members oftheAudit Committee the during COMPOSITION Group”).(“the oftheCompany practices anditssubsidiaries reporting and accountingrecords andpoliciesaswell asfinancial responsibilities relating to controls, internal financial the Board ofDirectors infulfillingitsfiduciary The oftheAudit objective Committee isto assist Directors atitsmeetingheldon29March 1996. The Audit Committee wasformed by theBoard of FORMATION Committee are Members asfollows:- andthedetailsofattendance ofthe financial period The Audit Committee the held7meetingsduring ANDATTENDANCEMEETINGS the External Auditorsthe External were present. invited to allthemeetingsheld. At 4ofthemeetings, Auditors andInternal were Development Property The ChiefFinancial Officer, Managing Director - Committee Member Name of Tan Siak Tee Teo Tong How Hashim Haji Mohd Tan Dato’ Sri Ir Talha Bin (Independent Non-Executive(Independent Director) Tan Siak Tee Non-Executive(Independent Director) Teo Tong How Non-Executive Independent Director)(Senior Chairman Tan Dato’ Sri Ir Talha Hashim- BinHajiMohd Meetings AttendedMeetings Number of 7/7 6/7 7/7 1. TERMS OFREFERENCE

Audit Committee Report CommitteeAudit 1.1 Membership 1.2 1.3 of notlessthan3members. Directors oftheCompany andshallconsist the Board ofDirectors from amongstthe The Committee shallbeappointed by Securities”). (“Bursa Berhad Securities Bursa Malaysia Chapter 1oftheListingRequirements of Directorsare asdefinedin Independent ofwhom Directors,non-executive amajority All membersoftheCommittee mustbe (d) (c) (b) (a) person:- financially literate and shallincludeatleast1 The members oftheCommittee shouldbe corporation. management ofthefinancialaffairs ofa responsible forof beingprimarily the orhaving thefunction of acorporation being a experience chief financial officer who musthave atleast 7years’ (ii) (i) or financeand:- inaccounting qualification experience who musthave atleast3years’ post (ii) (i) and:- experience who musthave atleast3years’ working ofAccountants;Institute or who isamemberoftheMalaysian Accountants; or Federationthe International of admitted asafullmemberof organisations which hasbeen professional accountancy is amemberofonethe accounting orfinance; has adegree/masters/doctorate in 1967; or oftheAccountantsSchedule Act, specified in IIofthe1st Part Associations ofAccountants is amemberofonethe 1967; or oftheAccountantsSchedule Act, specified in Iofthe1st Part have passedtheexaminations 137 Sunway City Berhad Annual Report 2009 138

Sunway City Berhad Annual Report 2009 Report CommitteeAudit

2.

1.4 1.5 1.6 1.7 2.1 Meetings 2.2 2.3 2.4 2.5 member oftheCommittee. No Alternate Director shallbeappointed asa shall be an Independent Director.shall beanIndependent fromChairman amongsttheirnumber, who The members oftheCommittee a shallelect must fill the vacancy within3months. must fillthevacancy paragraphs 1.1,1.2or1.3above, theBoard of member resulting inthenon-compliance dies orfor any reason ceasesto bea amemberoftheCommittee resigns,If Director. terminates whenamemberceasesto bea 3years. However,every theappointment be reviewed by theBoard nolessthanonce Committee andeach ofitsmembersshall ofthe The ofofficeandperformance terms must be Independent Directors.must beIndependent presentbe atleast2members, themajority The quorumfor aCommittee shall Meeting Chairman shalldecide.Chairman a year andsuchadditionalmeetingsasthe The Committee shallmeetatleast4times attention. to consider thematters brought to its shall convene ameetingoftheCommittee Auditors, orExternal theChairman Internal Committee, non-memberDirectors, the upon therequest ofany memberofthe paragraph 2.2above,Notwithstanding Committee whenrequired to doso. Committee andshallappearbefore the appear andbeheard atany meeting ofthe AuditorsThe External have to theright executive board members. Auditors withoutthepresence ofthe Committee shouldmeetwiththeExternal raised. However, ayear, atleasttwice the deliberations andresolutions ofmatters Committee’s invitation, to assistinits attend themeetingsat normally of theCompany andoftheGroup shall The non-memberDirectors andemployees

3.

2.6 2.7 2.8 2.9 3.1 The Committee to:- isauthorised AndRights Authority 3.2 3.3 3.4 3.5 3.6 decisions made. thereto andto follow-up onallrelevant as well astherecommendations relating andotherrelatedaudit reports matters at allmeetingsto present anddiscussthe AuditorsThe Internal shallbeinattendance members prior to eachmeeting.members prior documentationto explanatory supporting the noticeofmeetingstogether withthe drawing upandcirculating theagendaand forwith theconcurrence oftheChairman, of theCommittee and shallberesponsible, asSecretary shallact The Company Secretary minutes ofallmeetingstheCommittee. entrusted to record allproceedings and oftheCommittee shallbe The Secretary significant matters and resolutions. of Board asummary Meeting, willreport Board members, theCommittee ateach minutes of theCommittee to all Meetings additionto ofdetailed theavailability In reference. Investigate any matter of withinitsterms perform itsduties. perform Have adequate resources required to relevant to itsactivities. information, records anddocuments Have accessto fullandunrestricted the External and Internal Auditors. andInternal the External Have directcommunication channelswith considers necessary. it with relevantandexpertise experience and to secure theattendance ofoutsiders or otherindependentprofessional advice Engage, consultandobtainoutsidelegal deemed necessary. employees oftheCompany, whenever the attendance ofotherDirectors and Auditors, Auditors Internal orboth,excluding Convene meetingswiththeExternal 4.

4.1 Functions And Duties 4.2 function intheCompanyfunction andtheGroup. audit scope andresponsibilityoftheinternal defines theindependentpurpose, authority, approval, which Audit Charter theInternal To review andrecommend for theBoard’s (c) (b) (a) Board:- To review thefollowing to the andreport (ii) (i) on:- particularly approval by theBoard, focusing financial statementsto the prior results andyear end The quarterly (iv) (iii) (ii) (i) AuditWith Department:- theInternal (v) (iv) (iii) (ii) (i) Auditors:-With theExternal significant andunusualissues; practices; major accountingpoliciesand changes andimplementationof termination. theirappointmentand concerning of theseniorstaffandany matter auditincludingthat of theinternal the appraisalofperformance of Auditee; and assistance rendered by employees ofcooperationand the extent taken; recommendations andactions auditprocessesinternal including programme andresults of the auditplanofwork work; outits to carry authority necessary resources Audit andthe ofInternal and scope, functions, competency andrelevance ofthe the adequacy audits. from arising issues andreservations management’s response; and the managementletter and as Auditors; reasons for resignation ordismissal appointment andtheunderlying nomination, appointmentandre- for theirsuitability concerning the auditfee andonmatter controls;internal ofthesystemtheir evaluation of by employees oftheAuditee; ofassistancerenderedthe extent and the auditplanandreport

4.3 4.4 4.5 (e) (d) satisfactorily resolved,satisfactorily to BursaSecurities. Requirements whichhave notbeen To any breaches report oftheListing (e) (d) (c) (b) (a) covering:- inclusion intheCompany’s AnnualReport To prepare for theAudit Committee Report (a) Company’s AnnualReport:- To review thefollowing for publicationinthe management integrity. thatraisesquestionsof of conduct procedureany transaction, orcourse Company ortheGroup including withinthe situation thatmay arise ofinterest andconflict transaction ofanyThe propriety related party management response. The major findingsofinvestigations and (iv) (iii) internal auditfunction. internal ofthe oftheactivities a summary andduties; functions Committee inthedischarge ofits ofthe oftheactivities a summary details ofattendance ofeachmember; the numberofmeetingsheldand Committee; ofreferencethe terms ofthe directorship ofthemembers; including thename, designation and the compositionofCommittee (ii) (i) on:- the disclosure statement of theBoard Audit Committee Report CommitteeAudit legal requirements. standards, andother regulatory compliance withaccounting assumption;and going concern in suchareas. the alternative measures adopted any and area ofnon-compliance Governance, specifyingreasons for Codethe Malaysian onCorporate set outinPart IIof best practices ofcompliance withthe the extent Governance; and Codethe Malaysian onCorporate setoutinPart Iof the principles the Company’s applicationsof 139 Sunway City Berhad Annual Report 2009 140

Sunway City Berhad Annual Report 2009

5. Report CommitteeAudit

(b) (a) following:- 2009includedthe ended31December period oftheAuditThe Committee activities for thefinancial COMMITTEE SUMMARY OFACTIVITIES OF THE AUDIT 5.1 Internal Audit Department time to time by theCommittee andtheBoard. asmay beagreedsuch otherfunctions to from The above anddutiesare functions inadditionto 5.2 addressing issues reported. therisk to ensure were in reports corrective actions taken andthe audit Audit Department the Internal outby carried theauditactivities Reviewed Auditprocesses Department. withtheInternal audit planandresults audit oftheinternal scope, functions,resources, basedinternal risk andrelevance ofthe theadequacy Reviewed (e) (d) (c) (b) function. audit the establishmentofinternal includes overseeing thedevelopment and Committee whosescopeofresponsibility to the Committee andreport Members shall have accessto unrestricted the Audit Department The HeadoftheInternal his designate. to theGroupreport Executive or Chairman shall Audit Department the HeadofInternal respectofroutine administrativeIn matters, Requirements ofBursaSecurities. A ofAppendix9CtheListing speltoutinPart of annualreport other disclosures forming thecontents year. Scheme, attheendofeachfinancial Company’s Employees’ Share Option ofthe setoutintheBye-Laws criteria employees incompliance withthe share optionsto theGroup’s eligible on theverificationofallocation the statement by theAudit Committee Company andoftheGroup. controlsof theinternal system ofthe the disclosure statement onthestate annual audited financialstatements. responsibility for thepreparation ofthe the statement ontheBoard’s (l) (k) (j) (i) (h) (g) (f) (e) (d) (c) bodies. Group, andregulatory issued by the statutory and pronouncements ontheCompany andthe Discussed theimplicationsofany latest changes integrity. thatraisesquestionsofmanagement of conduct procedureincluding any transaction, orcourse withintheCompanythat may arise orGroup ofinterest anyReviewed conflict situation for transactions. recurrent related party respect oftheproposed shareholders’ mandate as thestatements by theAudit Committee in purchase ofown shares by theCompany aswell for andtheproposed the transactions authority shareholders’ mandate for recurrent related party Shareholders inrespectoftheproposed andapprovedReviewed theCircular to commerciallength basisandonnormal terms. enteredthat thetransactions into were atarm’s the Committee’s meetingsto ensure quarterly entered into by theCompany andtheGroup at transactions allrecurrentReviewed related party Securities. of Directors for approval andrelease to Bursa Auditors for recommendation to theBoard statements withmanagementandtheExternal results andfinancial thequarterly Reviewed Accounts withmanagement. anddiscussedtheManagement Reviewed Auditors. auditwiththeExternal statutory from arising issuesandreservations report, thefinancialstatements,Reviewed theaudit executive board member. the presence ofmanagementstaffandthe Auditorsfrom auditswiththeExternal without arising management andissuesreservations ofassistancerendered theextent Reviewed by commencement oftheannualaudit. and managementresponses) to the prior system auditfees, evaluation, issuesraised (inclusiveandauditapproach,period ofrisk plan oftheCompany andoftheGroup for the Auditors, withtheExternal Reviewed theaudit transactions. related party the procedures establishedto monitor recurrent adequacy, appropriateness andcomplianceof andmanagement,the Audit Department withtheassistanceofInternal Reviewed (b) (p) (o) (n) (m) (a) following activities:- outthe carried Audit Department 2009, theInternal December ended31 thefinancialperiod During by theGroup’sundertaken Audit Department. Internal in-houseand isperformed The auditfunction internal ACTIVITIES INTERNAL AUDIT ANDSUMMARY FUNCTION OF “Directors’ Training”. out intheCorporate GovernanceStatement under December 2009are ended31 set financial period attended by the eachCommittee during Member The detailsoftrainingprogrammes andseminars AUDIT COMMITTEE’S TRAINING information management. system andrisk control system, accounting andmanagement the Group, whichcovered reviews oftheinternal strategic businessunitsoftheCompany andof basedauditson risk performed Regularly of theAudit Committee. Prepared theannualauditplanfor theapproval inatimelymanner.accurate accounting reports the Finance Centre indelivering Shared Services of anddiscussedtheperformance Reviewed inclusion intheCompany’s 2008AnnualReport. on theannualaudited financialstatements for as well astheDirectors’ Statement Responsibility Governance andthestate controls oninternal Codecompliance oftheMalaysian onCorporate thedisclosureReviewed statements on Annual Report. for inclusionintheCompany’sReport 2008 andapprovedReviewed theAudit Committee members. tabled, discussedandnoted by allBoard recommendations. ofmeetingswere Minutes Committee’s meetingstogether withapplicable the discussedduring issues andconcerns to theBoard onsignificantReported 2009 amounted to RM1,541,091. December ended31 respect ofthefinancialperiod The costsincurred for in audit function theinternal (i) (h) (g) (f) (e) (d) (c) effectiveness of the said framework. effectiveness ofthesaidframework. and focusing ontheadequacy primarily managementframework operation ofrisk onthe Performed independentevaluation matters raised. andfollowedand discusstheauditreports upon Attended theCommittee’s meetingsto table well astheAudit Committee Report. Governance andthestate controls oninternal as Codewith theMalaysian onCorporate disclosure statements inregard to compliance ontheappropriatenessReviewed ofthe transactions. related party the procedures establishedto monitor recurrent adequacy, appropriateness andcompliancewith to theCommittee onreview ofthe Reported Auditors.on auditissuesraisedby theExternal Followed uponmanagementcorrectiveactions to theCompany andoftheGroup.pertinent operations orcontrols andsignificant issues overand/or seniormanagementonconcerns Acted onsuggestionsmadeby theCommittee improvements. as well ashighlightingrecommendations for andissues management identifyingweaknesses to theCommitteeIssued auditreports and Audit Committee Report CommitteeAudit 141 Sunway City Berhad Annual Report 2009 142

Sunway City Berhad Annual Report 2009 respective operations. empowered withtheresponsibilityofmanaging their oftheGroup are anddepartments subsidiaries and MDs, theheads oftherespective operating oftheExecutive teams. Chairman Underthepurview Directors (“MDs”) andtheirrespective management running ofthebusinessisentrusted to theManaging are andconduct monitored.performance The daily represent themainplatform by whichtheGroup’s Committee, Board Committees andmanagement meetingsoftheBoard, periodic Scheduled Executive andManagement Style Monitoring Mechanisms CONTROL SYSTEMTHE GROUP’S OFINTERNAL misstatement orloss. reasonable butnotabsolute assuranceagainstmaterial that thesystem control ofinternal canonlyprovide follows,to achieve businessobjectives. It therefore, to offailure manage ratherthaneliminate therisk the Group’s system control ofinternal isdesigned Notwithstanding, aswithany control internal system, managementpractices. guidelines andrisk for compliancewithapplicablelaws, rules, directives, management information systems, includingsystems oftheGroup’sintegrity system control ofinternal and and its responsibilityfor reviewing theadequacy ensure governance. goodcorporate The Board affirms intheGroupeffectiverisk managementpractices to to maintaining asoundsystem control ofinternal and on,andiscommitted The Board placesimportance THE BOARD’S RESPONSIBILITY Companies. Control:Internal Guidancefor Directors ofPublic Listed andtheStatement on Berhad Securities Malaysia Paragraph 15.26oftheListingRequirements ofBursa ControlInternal asaGroup, madeincompliancewith Board”) ofSunCity’s Group”)(“the (“the Statement on Group assets. outbelow Set istheBoard ofDirectors control to safeguard shareholders’ investment and companies shouldmaintainasoundsystem ofinternal stipulates thattheBoard ofDirectors ofpubliclisted The Code Malaysian onCorporate Governance INTRODUCTION Control Internal on Statement • • • • within it,thefollowing elements:- key The current system control of internal intheGroup has Internal Control Key Elements oftheGroup’s System of on pages144to 147oftheAnnualReport. are Management setout Risk The detailsonEnterprise and effective manner. risk parameters inatimely withindefined objectives that affect theachievement oftheGroup’s business to beable to identify, evaluate andmanagerisks whichwillallowmanagement framework theGroup thattheGroupto ensuring hasaneffectiverisk involveactivities somedegree andiscommitted ofrisk thatallareasBoard oftheGroup’s acknowledges ofgoodbusinessmanagementpractice. part The Board recognises thateffectiverisk managementis dealingwithitsstewardship responsibilities,In the Enterprise Management Risk taking. compliance andrisk to controls, internal control issuespertaining regulatory these mechanisms, theBoard isinformed ofallmajor mechanisms. and managementreporting Through operations through Board itsvarious Committees direction and for overseeing the of conduct the Group’s The Board isresponsible for settingthebusiness dealt with. risks areoperational andfinancial discussedand project meetings/owners meetings. At thesemeetings, meetings aswell asthrough attendance atvarious to managementatthe expectations The communicate MDs actively theBoard’s duties delegated by theBoard. references and outliningtheirfunctions clearly BoardRelevant Committees withformal of terms environmental analysis. threats including competitor, andbroader market and relevant strengths, opportunities weaknesses, theBusinessPlanduring exercise to consider the management plansprepared by eachsubsidiary Board approved annualbudgetsand the Group’s progress. mechanisms whichenabletheBoard to review with appropriate managementreporting The Board whichretains control over theGroup to employees atalllevels. and strategic directionwhichare communicated Clear Group philosophy vision,mission,corporate statements oftheGroup. auditofthefinancial in thecourseoftheirstatutory to control internal Auditors highlighted by theExternal AC alsoreviews anddeliberates onany matters relating improve thesystem control. ofinternal addition,the In recommendations plansto andmanagementaction highlighting observations, reports with periodic Based ontheseaudits, theGIADprovides theAC audit planapproved annuallyby theAC. operating unitswithintheGroup basedonarisk-based auditsonvarious out internal whichcarries (“GIAD”) Audit oftheGroup Department Internal support its responsibilities, theAC relies significantly onthe Group’s out system control. ofinternal carrying In reviewing theeffectiveness andmonitoring ofthe The by AC theBoardof istasked withtheduty Assurance Mechanisms • • • • • • • • (“AC”). audit planapproved by theAudit Committee auditsbasedonanannualrisk-basedinternal out whichcarries auditfunction An internal as ISO9001:2000certification. improvementContinuous quality initiatives such and capability. to maintainahighlevel ofcompetency functions trainingprovidedRelevant to personnelacross all levels ofstaff. appraisalsystem forA systematic all performance available ontheintranet. employees through astaffhandbookwhichisalso in relation to humanresources matters to all Communication ofpoliciesandguidelines and businessplan. human resourcesfinancial performance, matters involving thereview oftheGroup’s operations, divisionalmanagementmeetings Regular sharing. communication andknowledge The use oftheintranetasaneffective meansof and safety matters. operating, financial, human resources andhealth limitsover various guidelines on,andauthority for allmajoroperatingunitsthatprovide Comprehensive policiesandprocedures manuals Annual Report. issetoutonpages137to 141ofthe The AC Report to management. bodies.Results oftheauditsare certification reported aswellinternally asby auditors oftherelevant Centre Berhad, scheduledaudits are conducted andSunway development activities Medical property accredited to theGroup’s9001:2000 certification Additionally, oftherequirements oftheISO aspart operational efficiency canbeattained. operational efficiency and balanced achievement ofitsbusinessobjectives sound system control ofinternal andbelieves thata the Board remains committed towards maintaininga itsbusinessobjectives. able to support To thisend, control system mustberesponsive inorder to be dynamic businessenvironment inwhichtheinternal The Board recognises thattheGroup operates ina THE BOARD’S COMMITMENT Executive Chairman Tan SriDato’ Jeffrey Dr Seri Cheah Fook Ling, by theBoard on25February ofDirectors 2010. This Statement onInternal Control was approved underreview.the period adversematerial effect onthe results oftheGroup for controlmaterial thatwould failure have orweakness ensure governance. goodcorporate There wasno arepractices ableto meettheGroup’s to objective Group’s control internal management system andrisk The Board thatthestate ofthe ispleasedto report THE BOARD’S CONCLUSION Statement on Internal Control Internal on Statement AO 143 Sunway City Berhad Annual Report 2009 144

Sunway City Berhad Annual Report 2009 management processes. provided astrong test ontherobustness ofourrisk thelast12monthshave conditionsduring market globally.strategies andperformances The destabilised hasadestabilisingeffect oncorporate scenario especiallyintimeswhenthecurrent economic impact, this hashelpedto prevent any significant negative and governance ofgoodcorporate inSunCity part threats to whichacompany isexposed, hasbeena Systematically identifyinganddealingwithsignificant deliver thecore andstrategies purposes oftheGroup. for ourshareholders, helpsto effectively andefficiently andsustainablebusiness maintaining ahighquality management, beinganessentialcomponentin Group.all thebusinesseswithinSunCity Risk Strong of managementforms risk anintegral part Management Risk Enterprise organisation’s activities. surrounding andreviewingthe monitoring therisks identifying, analysing, evaluating, mitigating, Continuous :ERMisacontinuousprocess of catastrophic effect ontheoperationsofGroup. beforeand mitigationoftherisks create they a identification helpsinearly levels ofrisks on thevarious strategic attheBoard risks ofDirectors’ level. Focusing attheBusinessUnit’swith operationalrisks level and Focused : The focus ofERMwithintheGroup isto deal the Group. businessesto thestrategicvarious of objectives Group’s andenablesanalignment of risks ofrisks integrated approach allows ofthe aholisticview and procedures implemented withintheGroup. This into thecultureandalsointo thepolicies ofSunCity Integrated : The ERMprocess hasbeenintegrated is:- (“ERM”) Management atSunCity Risk The Enterprise 1. process:- There are 3majorfocus areas management ofourrisk growth oftheGroup (“Stabilise Value”). ofmanaging toview ensureand risks sustainability (“Protectmanagement view Value”) to along-term and to move risk from theconceptofashort-term monitor throughout andevaluate risks theGroup Our approach managementisto to identify, risk RISK MANAGEMENT ANDPROCESS FRAMEWORK

(a) basically:- acrosstransparency theorganisation. It and helpstoThe framework maintainconsistency Framework:Risk (b) (c) structures for the management of risk. structures for themanagementofrisk. and accountabilitieswithincommittee responsibilitiesEstablishes clearfunctional Group. tolerance appetite ofthe andrisk the risk policiesandlimitsconsistent with risk Sets applied to risk management. applied to risk andresourcesEnsures appropriate skills are

3. 2.

(a) This basically involves:- Management ProcessRisk : qualitative measures. a risk-related ofquantitative lossinterms and appetiteThe setstheoverall risk tolerance for AppetiteRisk : (b) (c) Group directlyorindirectly. whichmay factors affect the and external Assessing ofinternal thepotential impact the identified risks.the identified of andlikelihood assess thepotential impact Using quantitative to andqualitative aspects effectiveness ofthemitigationplans. risks, themitigationplansalongwith the Systematically andreporting monitoring Enterprise Risk Management Risk Enterprise 145 Sunway City Berhad Annual Report 2009 146

Sunway City Berhad Annual Report 2009 (c) (b) (a) 3 areas:- The RMC’s responsibilities in canbesummarised Directors as appropriate. in providing adviceandfeedback to theBoard of managementissuesand risk Directors in considering theleadonbehalfofBoardThe RMCtakes of Management CommitteeRisk (“RMC”) Committee.escalated Management to theRisk identified withinitsareas ofoperationare then basis. meetsonaquarterly risks The key The RWC businessesandfinancialactivities. on theirkey them to monitor and reduceoftheserisks theimpact and mitigationplansare identifiedwhich would allow is alsoresponsible indicators to ensure performance thesemay have.and thepossibleimpacts The RWC whichfallwithinitsareasthe risks ofresponsibility and standardsidentifies through theRWC. The RWC withindefinedparameters identify andmanagerisks are delegated theresponsibilityto of department At SunCity, managementstaffandheads thekey Risk Working Committee (“RWC”) forthe risks theGroup. hierarchy whichwillbeusedto oversee andmanage managementstructurerepresentsThe risk the RISK MANAGEMENT STRUCTURE Management Risk Enterprise plans. are alongwiththeirmitigation risks reported to theBoardreported ofDirectors. Significant are risks thatthekey -ensuring reporting Risk risk. for enterprise-wide key responsibility for reviewing themitigationplans the Group’s appetite. risk This includesthe profile risk is managed within enterprise-wide profiling thatthe risk - ensuring Enterprise-wide effectively. isfit framework andoperates for thepurpose oversight framework thattherisk -ensuring Risk organisation. throughout bestpractices the by sharing of risks continues to seekimprovement inthemanagement are understood andvisibleto allconcerned. The GRMD environmental theGroup’s orconcerning reputation, risks, which may bestrategic, operational, financial, roleThe ofGRMDisto key ensure thatthebusiness (“GRMD”) Management Division Group Risk adjustedthroughout decision-making the organisation. steps areto foster taken necessary aculture ofrisk- are asdirected. functioning The BODalsoensures that Group are aligned to theBOD’s strategy corporate and processes designed andimplemented withinthe to theERMandensures management thattherisk oversight provides The BOD ofSunCity important (“BOD”) Directors Board Of Co rporate Governanc rporate D Pr oduc ts and Ser Human Capital Financial e RW vices C Ex ternal RMC M G BOD Operations Regulato Suppliers Customers ry Legal R (j) (i) (h) (g) (f) (e) (d) (c) (b) (a) these:- althoughtherecategories canbeanoverlap between intheGroupThe risks are dividedinto 10broad by theGroup’s businesses. track andmitigate faced existingaswell risks asnew management. risk There are processes andsystems to strategic approach atop-down, in Business Unittakes Scorecard.the Corporate Risk ofeach Management registers intherisk risks whichare thencompiledin Business Unitsidentifyandregister theirrespective identification process risk wherein all an on-going managementwithintheGroupRisk encompasses KEY RISKFACTORS Operations Human Capital Suppliers Products andServices Customers Financial Corporate Governance Legal Regulatory External 3. 2. 1. the Group are below:- summarised risks faced by key thelastfinancialperiod, the During 31 December 2009 Key During Risks The Financial Period Ended market. relatedthe otherrisks financial to theexternal and interestrisk, raterisk, fluctuation of currency intosame time, considerationtheimpact ittakes development oftheGroup’s businesses. At the outflow andincrease incashinflow forthe seeks to ensure thatthere isareductionincash andcredit.liquidity Financial management risk are inrelation to interest rates, foreign currency, risks faced Theby theorganisation mainfinancial Financial Risks as changesto laws andregulations. aswell risks economical developments, country abreast to keep ofpoliticaland and authorities relationships withlocalbusinesspartners working exposures. country The Group maintainedclose the Group’s businessesfaceddifferent degrees of With geographical presence inmany countries, Risks Country to managethesebusinesscomplexities. partners closelywithlocalbusiness and hasalsoworked markets to analysenew efforts allnecessary taken globally. However,undertaken managementhas becauseoftheexpansionsandprojects risks The Group strategic isalsofacedwithvarious caused complexchallengesto allbusinesses. organisation. The has current economic crisis ofthe andsustainability continuity long-term may have inorder to take to expandandfor the Strategic are thatorganisations risks risks often Strategic Risks Enterprise Risk Management Risk Enterprise 147 Sunway City Berhad Annual Report 2009 148

Sunway City Berhad Annual Report 2009 6. 5. 4. 3. 2. 1. Berhad:- Securities Malaysia compliance withtheListingRequirements ofBursa The information set outbelow isdisclosedin Information Compliance Additional forecast orprojectionfor thefinancialperiod. Company didnotrelease any profit estimate, previously announcedby theCompany. The 2009and theunaudited31 December results the audited results for ended thefinancialperiod There of10%ormore wasnovariance between VARIATION INRESULTS amounted to RM399,720. December 2009 ended31 the financialperiod Auditors oftheCompany for anditssubsidiaries The non-auditfees paid/payable to theExternal NON-AUDIT FEES 2009. ended 31December thefinancial period bodiesduring regulatory byDirectors therelevant or Management imposed ontheCompany anditssubsidiaries, There were and/or penalties nopublicsanctions AND/ORPENALTIESSANCTIONS 2009. 31 December programme ended thefinancialperiod during The Company didnotsponsorany ADRorGDR PROGRAMME OR GLOBAL DEPOSITORY RECEIPT(“GDR”) DEPOSITORYAMERICAN RECEIPT(“ADR”) to theCompany’s Warrants 2007/2017. weretotal of30,900 warrants exercised pursuant Employees’ Share (“ESOS”) OptionScheme anda shares were exercised pursuantto theCompany’s 2009, atotal of2,000optionsover ordinary December ended31 thefinancialperiod During EXERCISED WARRANTS ORCONVERTIBLE SECURITIES OPTIONS OVER ORDINARY SHARES, 2009. ended31December period proposal to raiseproceeds thefinancial during any corporate The Company didnotundertake FROMCORPORATERAISED PROPOSAL STATUS OFUTILISATION OFPROCEEDS 7. 8. (b) (a) December 2009:- ended31 the financialperiod directors’ andmajorshareholders’ interests during the Company involving and/oritssubsidiaries courseofbusiness)entered intothe ordinary by entered (notbeingcontracts intocontracts in Save asdisclosedbelow, there were nomaterial INTERESTS DIRECTORS’ SHAREHOLDERS’ ANDMAJOR MATERIAL CONTRACTS INVOLVING 2009. December Company ended31 thefinancialperiod during There wasnoprofit guarantee given by the PROFIT GUARANTEE known as known “Sunway Hotel Hanoi”. and theoperator ofahotel inHanoi, Vietnam ofHochimex subsidiary is awholly-owned “Acquisition ofSunway SHHLLC Hotel Hanoi”]. RM59.33 million)[hereinafter referred to as USD17 million(equivalent to approximately (“SHHLLC”) for atotal cashconsiderationof Limited Company withOneMember subsidiary, Sunway Hotel HanoiLiability andits Company Limited (“Hochimex”) paid-up share capital ofHochimexNominee for theacquisitionof entire issuedand oftheCompany subsidiary wholly-owned Vietnam Bhd)(“SunCity Sdn Vietnam”), a asSunCity Bhd(now Sdn known Methods ofSunwaysubsidiaries HoldingswithMega being Limited (“Sunway Property”), Vietnam”) andSunway (China) Property Bhd(“Sunway Sdn Holdings (Vietnam) Sunway9 June2009between Holdings Share SaleandPurchase Agreement dated each inSunway Estate. Real ofHK$1.00 of HK$0.01eachatanissueprice redeemablenew preference shares (“RPS”) shares ofHK$1.00eachand148,000,000 ordinary of9,995new the subscription (China) Limited (“Sunway Estate”) Real for (“Sunway Holdings”) withSunway Estate Real ofSunway HoldingsBerhad subsidiary Bhd(“SunwayMas”),Sdn awholly-owned theCompanybetween andSunwayMas AgreementSubscription dated 11July2008

 (c) Sunway viaSunway Property Holdings. interests inSunway Holdings Vietnam and Shareholder ofSunway Holdings. Hehasdeemed Dato’ DrJeffrey Cheah Seri Fook Ling,Major isa Evan Cheah Yean Shin,beingthechildof Tan Sri via Sunway Holdings. Sunway Holdings Vietnam and Sunway Property Company. They alsohave deemed interests in have deemedinterest inSunCity Vietnam viathe of theCompany andSunway Holdings. They Fook Lingrespectively, are Shareholders Major and childof Tan Dato’ Sri DrJeffrey Cheah Seri and Sarena Cheah Yean Tih, beingthespouse Cheng (Dr)SusanCheahSeok Puan DatinSeri Sri and Sunway viaSunway Property Holdings. deemed interests inSunway Holdings Vietnam in SunCity Vietnam viatheCompany. Healsohas and Sunway Holdings. Hehasdeemedinterest ShareholderDirector and Major oftheCompany Tan Dato’ Sri DrJeffrey Cheah Seri Fook Lingisa and (d)above Relationship ofRelated for Parties items (b) SunwayMas viaSunway Holdings. and Sunway Holdings. Hehasdeemedinterest in ShareholderDirector and Major oftheCompany Tan Dato’ Sri DrJeffrey Cheah Seri Fook Lingisa (c) above Relationship ofRelatedfor Party items (a)and (d) (i) SunwayMas inSunway Estate Real asfollows:- byof RPSto theCompany besubscribed and August 2009andto changethetotal number to 31 theconditionsfulfilmentperiod extend SunwayMas withSunway Estate Real to theCompany11 July2008between and Agreement2009 to theSubscription dated Supplemental Agreement dated 27August (ii) the parties may mutuallyagree.the parties expire as on9June2010orsuchotherperiod Sunway Hotel Hanoifor another6monthsto dated 10 June 2009)oftheAcquisition of (as definedinthe Company’s announcement theConditionsto Fulfillment extend Period and Sunway withSunCity Property Vietnam Sunway2009 between Holdings Vietnam Supplemental Agreement dated 8December RPS; and 89,659,158 RPSinstead of88,800,000 the Company for willsubscribe RPS instead of59,200,000RPS. SunwayMas for willsubscribe 60,675,949

11. 10. 9. Additional Compliance Information Compliance Additional 31 December 2009. 31 December ended shares thefinancialperiod during The Company hasnotpurchased any ofitsown SHARE BUY-BACK 2009. December ended31 thefinancialperiod during shares pursuantto theCompany’sordinary ESOS There allocationofoptionsover wasnonew COMPANY’S ESOS OVER ORDINARY SHARES PURSUANT TO THE RELATION TO ALLOCATION OFOPTIONS STATEMENT BY AUDIT IN COMMITTEE applicable. losses,and/or accumulated impairment where stated atcostlessaccumulated depreciation oftheGroup areAll otherlandedproperties the Notes to theFinancial Statements. Properties are disclosedunderNote 2.2(g)of ontherevaluationDetails ofInvestment PROPERTIES REVALUATION ONLANDED POLICY and Sunway viaSunway Property Holdings. deemed interests inSunway Holdings Vietnam SunCity Vietnam viatheCompany. They alsohave Sunway Holdings. They have deemedinterest in are Shareholders Major oftheCompany and Dredging Bhd Sdn BhdandActive Sdn Equity Sungei Way Bhd, Sdn Corporation Timah Dunia 149 Sunway City Berhad Annual Report 2009 Relations Investor 150

Sunway City Berhad Annual Report 2009 press releases website. andthecorporate reports, discussions, annualandquarterly conferences, one-on-one/group channels includinginvestor roadshows, disseminating information through various relevance withtheinvesting by community investment decisions.maintainsits SunCity investors accurate andtimely inmaking the investing andto assistour community andopencommunicationto transparency as ameansto promote accountability, on ourinvestor relations programme At SunCity, we placegreat emphasis achievements oftheGroup. At thesame to update themwiththelatest significant investinginternational inorder community communication channelwiththelocaland sessions promote aproactive two-way belief, theabove andmeeting briefings Aligned withtheGroup’s valuesand presentation ontheGroup. Chief Financial delivered acorporate Officer invited to theprestigious event where our company thatwas property only Malaysian community. isproud SunCity to bethe members from theinstitutionalinvesting than 1,000globalinvestors aswell askey presence infront ofanaudience more companies inAsia to establish their approximately 200high-performing region. event whichprovidesThis isakey largest Pan conferences Asian equity inthe ForumEquity (“NAEF”) whichisoneofthe including therenowned NomuraAsian deal roadshows andinvestor conferences, non- invarious hadparticipated SunCity addition, front.local andinternational In over 50 investor relations meetings, on both year hadinitiated 2009alone, In SunCity Communication Promoting Two-way Ms Tan Poh Chan, the Chief Financial of SunCity, Officer giving a corporate presentation at the NAEF. our investor base. as attracting, retaining andstrengthening our investors’ needsandviewpoints, aswell to meetandunderstand the opportunity time, through theseavenues, has SunCity its future direction. understanding ofSunCity’s businessesand abetter andotherstakeholders community with theaimatproviding theinvesting designed website corporate wasdeveloped freshnew 2010. imageinApril The newly- www.sunwaycity.com hasalsoattaineda SunCity’s website, corporate Website User-friendly andInformative 2009 (“NACRA”) AwardsNational AnnualCorporate Report its previous standingattherecent improvedbeen reaffirmed whenSunCity investor communicationhasonceagain accountability, andopen transparency As such,SunCity’sto advocate efforts andinitiatives.latest financialperformance insightsinto SunCity’s affairsand further is avaluabletool for investors to gain recognises SunCity thattheannualreport Award-Winning Annual Report Bahasa Malaysia. Silver Award in for theBestAnnualReport consecutive year for andgaininga SunCity) Hotels and (third category Trusts Industry Excellence Awards for theProperties, 1 informative, andreader-friendly factual annualreport. throughstakeholders thepublicationoftimely, theorganisationcommunication between andits andeffectivestandard reporting inannualcorporate Public Accountants (MICPA) to promote thehighest ofCertified Accountants Institute (MIA)andMalaysian of Berhad, Institute Bursa Malaysia Malaysian NACRA isacollaborationof3organising bodies– 1 , retaining the Industry , retaining theIndustry recommendations 2010. asatApril andtheir institutions covering SunCity Below isthecomplete listofresearch andAmResearch. Securities under financial period review, namelyJFApex been introduced to theCompany the during coverage onSunCity, 2ofwhichhave just 9 localresearch institutionswhichmaintain institutions andanalysts. To date, there are relationship withtheresearchclose working ofmaintaininga recognise theimportance to theGroup’saccessibility information, we order toIn provide ourinvestors withbetter establishing amature andtransparent to theInvestor profession Relations towards aimsto provide Berhad Malaysia guidance AssociationRelations (“MIRA”) by Bursa The formation Investor oftheMalaysian Investing Community Continuous Commitment to Research Institutions Strengthening Relationship with Statement. AnalysisandCorporate Governance Ratio Key FinancialInvestment Case, Quarterly Analysis, includingSunCity’s user-friendly functions new To thisend, we have several alsoincorporated Site visitby analysts. JF ApexSecurities Hong Leong Investment Bank AmResearch Research Institutions RHB Research InvestmentAffin Bank HwangDBS ResearchVickers ECM Libra InvestmentMaybank Bank SeagroattKAF &Campbell

Recommendation As at April 2010 Outperform Hold Buy Buy Buy Buy Buy Buy Buy Presentation to analysts. • FPE2009(Oct-Dec 2009) 6th Quarter • • • • 2009) FPE2009(Jul-Sep 5th Quarter • • • • FPE2009(Apr-Jun4th Quarter 2009) • 2009) FPE2009(Jan-Mar 3rd Quarter • FPE2009(Oct-Dec 2008) 2nd Quarter • 2008) FPE2009(Jul-Sep 1st Quarter 31 December 2009(“FPE2009”) financial periodended Investor Relations Calendar for the communication to theinvesting community. transparentcommitted to continuously nurture SunCity, memberofMIRA,is asanactive standards globalinvestors to attract to Malaysia. itselfagainstinternational benchmarking by investor relationsinthecountry practice 5th Quarter FPE2009results announcement 5th Quarter InvestmentMaybank BankInvestor Site Visit (Singapore) Credit SuisseCorporate Day Group Meeting Nomura Asia Forum Equity (Singapore) FPE2009results announcement 4th Quarter Group (Singapore) Meeting InvestmentMaybank BankCorporate Day Group (Singapore) Meeting SeagroattKAF &Campbell Corporate Day ECM LibraInvestor Luncheon Meeting FPE2009results3rd announcement Quarter FPE2009results announcement 2nd Quarter FPE2009results announcement 1st Quarter FY2008results announcement 4th Quarter its management. recommendations or oropinionsofSunCity donotrepresentSunCity’s performance Any recommendations oropinions regarding 151 Relations Investor Sunway City Berhad Annual Report 2009 Financials Directors’ Report 154 Statement by Directors 162 Statutory Declaration 162 Independent Auditors’ Report 163 Income Statements 165

Providing an educational hands-on experience at Sunway Lagoon Wildlife Park. Balance Sheets 166 Statements of Changes in Equity 168 Cash Flow Statements 171 Notes to the Financial Statements 175 List of Properties 280 Recurrent Related Party Transactions 288 154

Sunway City Berhad Annual Report 2009 There have thefinancialperiod. beennosignificant during changesinthenature activities oftheprincipal (vi) (v) (iv) (iii) (ii) Results the comparative amountsare notinrespectofcomparableperiods. 2009cover comparedDecember an18-monthperiod to the12-monthyear endof30June2008and therefore Accordingly, thefinancialstatements oftheGroup andofthe Company ended31 for thefinancialperiod The financial year endofthe Company waschangedfrom andallitssubsidiaries 30JuneDecember.to 31 Change ofFinancial Year End (i) are: ofthesubsidiaries activities The principal oftheCompany development andinvestment, activities The are principal andinvestment property holding. Principal Activities Company forDecember 2009. ended31 thefinancialperiod The directors together present withtheaudited financialstatements theirreport oftheGroup andofthe Directors’Report period wereperiod notsubstantially affected by anyevent or andunusualnature. ofamaterial item, transaction theopinionofdirectors,In theresults oftheoperationsGroup andoftheCompany thefinancial during disclosed inthefinancialstatements. There were transfers nomaterial to orprovisions orfrom otherthanas thefinancialperiod reserves during Profit/(loss) for theperiod Equity holdersoftheCompanyEquity to:Attributable Minority interests Minority time sharing businesses.time sharing operation ofamedicalcentre; and operation oftravel, tour businessandrelated activities; rendering recreational clubfacilities; operation ofhotels, andrelated themeparks activities; development andinvestment; property 865,880 865,880 327,972 RM’000 537,908 Group Company (175,227) (175,227) (175,227) RM’000 - forthcoming Annual General Meeting, Annual General hasnotofferedforthcoming himself for re-election. Teo Tong How whoisretiring 78oftheCompany’s by rotation ofAssociation pursuantto atthe Article Articles Meeting. AnnualGeneral conclusion ofthenext to 129(6)oftheAct inaccordanceholdofficeuntilthe withSection andseekre-appointment Act”) 1965 (“the 129oftheCompanies inaccordance Act, retire Meeting withSection AnnualGeneral attheforthcoming Tan Dato’ Sri Ir. Talha MHashim,beingover years, theageofseventy HashimandDatukRazman BinHajiMohd andbeingeligible, Meeting Annual General offers himself for re-election. 77(2)oftheCompany’s ofAssociation, accordance HoHonSangretires withArticle In Articles attheforthcoming retire andbeingeligible, byMeeting rotationAnnual General offer attheforthcoming themselves for re-election. 78oftheCompany’s ofAssociation, accordance DatinPaduka Low withArticle In andLimSwe Articles Guan Moi Siew Ho HonSang(appointed on19March 2010) Dato’ Ng Tiong Lip Lim Swe Guan Tan Siak Tee Teo Tong How Datin Paduka Low Moi Siew Ngeow Voon Yean Ngian Siong Siew Tan Dato’ Sri Ir. Talha Hashim BinHajiMohd MHashim Datuk Razman Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling, AO The namesofthedirectors oftheCompany andatthedateare: of this inofficesincethedate ofthelast report report Directors The dividends paidby theCompany since30June2008were asfollows: Dividends retained profits inthefinancial December2010. yearending31 dividend. Suchdividend, ifapproved by theshareholders, willbeaccounted for asanappropriation of in equity for shareholders’ approval. The financialstatements donotthisfor thecurrent financialperiod reflect proposed shares inissueonthedate ofentitlementwillbeproposed 2009of5%less25%taxationonordinary December ended31 Meeting, AnnualGeneral afinaldividendinofthefinancialperiod At the forthcoming respect declared 2009andpaidon20November on2October 2009 shares, dividendof8%less25%taxationon469,951,432ordinary Interim December 2009: ended31 respectofthefinancialperiod In declared on17November 2008andpaidon11March 2009 Final shares, dividendof5%less25%taxationon469,949,432ordinary the directors’ ofthatyear: report in respectofthefinancial year ended30June2008as In reported Directors’Report RM'000 45,820 28,197 17,623 155 Sunway City Berhad Annual Report 2009 156

Sunway City Berhad Annual Report 2009 the financial period the financialperiod were as follows: inshares,period shares intheCompany optionsover andwarrants ordinary anditsrelated during corporations According to theregister ofdirectors’ shareholdings, theinterests ofdirectors inofficeattheendoffinancial Directors’ Interest have aninterest, asdisclosedinNote 49to thefinancialstatements. inwhich corporations Tan Dato’ Sri Dr. Seri Jeffrey Cheah Razman MHashimare deemed Fook LingandDatuk to theCompany between contracts anditsrelatedand/or otherbusinessesandconstruction corporations trading ofnormal functions,advancesandconduct and/ortheprovision oftreasury contracts, leasesandtenancy; and/orprovision ofconstruction services, includingbutnotlimited to managementandconsultancy services orany interest andotherproperties and/orfor inanytransactions, products, properties; theprovision parts of Jeffrey Cheah ofthose Razman MHashimwhomay bedeemed to derivebenefitsFook LingandDatuk byvirtue is amember, orwithacompany inwhichhehasasubstantialfinancialinterest, except for Dato’Tan Sri Dr.Seri reason madeby theCompany ofacontract orarelated withany corporation ofwhichhe director orwithafirm ofafull-timeemployee ofthe directorsCompany orthefixed asshown salary inthefinancialstatements) by (other than benefitsincludedintheaggregate amountofemoluments received ordueand receivable by the Since theendofprevious financial year, nodirector has received orbecomeentitled to receive abenefit options to begranted underthe Employees’ Share Option Scheme. of shares inordebentures oftheCompany orany otherbodycorporate, from otherthanasmay arise theshare to whichtheCompany whereby wasaparty, thedirectors mightacquire benefits by meansoftheacquisition Neither attheendoffinancialperiod, noratany thatperiod, didthere timeduring subsistany arrangement Directors’ Benefits Directors’Report Ngian Siong Siew CheahFook Ling, AO Tan Dr. Dato' Sri Seri Jeffrey Indirect: Teo Tong How Ngeow Voon Yean Ngian Siong Siew Haji Mohd Hashim HajiMohd Tan Dato' Sri Ir. Talha Bin Datuk Razman MHashim Datuk Razman CheahFook Ling, AO Tan Dr. Dato' Sri Seri Jeffrey Direct: The Company 153597 1,5,8 11623 192,473,117 (1,106,283) 18,253,483 175,325,917 12,823,251 ..08 Acquired 1.7.2008 300,000 380,000 10,000 20,000 10,000 ,0 20,000 5,000 Number of ordinary shares ofRM1each Number ofordinary - (10,000) - - - - - od31.12.2009 Sold - 300,000 - - 10,000 - - 380,000 - 25,000 - 12,823,251 - 20,000 - ordinary shares intheCompany andwarrants ordinary oritsrelated thefinancialperiod. during corporations period hadNone oftheotherdirectors inofficeattheendoffinancial any interests inshares, options over interested inshares ofalltheCompany’s theCompany to theextent subsidiaries hasaninterest. Tan Dato’ Sri Dr. Seri Jeffrey Cheah ofhisinterest insharesFook Ling by virtue inthe Company isalsodeemed 2003/2013. sharesThe optionsover are ordinary pursuantto Employees’ theSunway Berhad City Share OptionScheme ordinary shares oftheCompany.ordinary passu inallwiththeexisting rankpari sharesrespects thefinancialperiod issuedduring The ordinary new (ii) (i) RM469,918,532 to RM469,951,432by way oftheissuanceof: thefinancialperiod, the During Company share increased capital from itsissuedandpaid-upordinary Issue ofShares Directors’ Interests (contd.) Ngian Siong Siew CheahFook Ling, AO Tan Dr. Dato' Sri Seri Jeffrey Indirect: Ngeow Voon Yean Ngian Siong Siew Datuk Razman MHashim Datuk Razman CheahFook Ling, AO Tan Dr. Dato' Sri Seri Jeffrey Direct: The Company Tan Siak Tee Teo Tong How Datin Paduka Low Moi Siew Haji Mohd Hashim HajiMohd Tan Dato’ Sri Ir. Talha Bin The Company per ordinary share forper ordinary cash. shares ofRM1eachpursuantto theexercise ordinary 30,900 new atanexercise ofwarrants ofRM4.87 price Share share atanexercise OptionScheme for ofRM1.00perordinary price cash; and shares ofRM1eachissuedto eligible ordinary 2,000 new employees oftheGroup undertheEmployees’ 6,8,3 ,7,6 3871 67,195,939 (368,761) 3,879,061 63,685,639 5,817,591 1720 Gatd xrie 31.12.2009 Exercised Granted 1.7.2008 ..08 Acquired 1.7.2008 Number ofoptionsover shares ofRM1each ordinary 100,000 131,096 50,000 50,000 50,000 50,000 3,343 6,676 Number ofwarrants 2007/2017 ------Directors’Report od31.12.2009 Sold - 3,343 - - 100,000 - - 131,096 - - 50,000 - - 50,000 - - 50,000 - - 50,000 - 5,817,591 - 6,676 157 Sunway City Berhad Annual Report 2009 158

Sunway City Berhad Annual Report 2009 (f) (e) (d) (c) (b) (a) The mainfeatures are: oftheScheme employees (including Executive andNon-Executive Directors) oftheCompany anditssubsidiaries. 2003 andisgoverned by theby-laws approved by theshareholders on26August 2003. isforThe Scheme eligible The Employees’ Sunway Berhad City Scheme”) Share (“the OptionScheme wasimplemented on22September Employees’ Share Scheme Option forwarrants theequivalentnumberby theregistered holders. shares ofRM1each were thefinancialperiod,ordinary pursuant 30,900new During to theexercise subscribed of Company held. warrant share atanexercise for ofRM4.87perordinary price every share for 2017,to ofRM1.00eachinthe subscribe ordinary on4October the issuedate 1new andexpiring entitletheregisteredThe warrants holder, atany of10years timewithinaperiod commencingonandincluding shares three ofRM1.00eachheldintheCompany. (3)ordinary forthe basisofone(1)warrant every for 2007,theCompany ofRM0.15perwarrant atanissueprice cashon On 5October issued155,805,276warrants Warrants Directors’Report # provided thatnooptionsshallbeexercised oftheScheme. beyond thedate ofexpiry yearOptions exercisable butnotexercised to forward thesubsequentyears inaparticular canbecarried * The optionsgranted may beexercised inthefollowing manner: days fromacceptance by anemployeethedate and ofoffer; for ofthirty aperiod andtheoffer shallbe valid and lengthofservice for basedonseniority,be determined performance The numberofoptionsto beoffered to aneligible employee inaccordanceScheme shall withthe istenThe durationoftheScheme (10)years from thedate ofitscommencement; not more than10%ifdeemedappropriate ortheparvalueofCompany’s shares, whichever ishigher; weighted oftheCompany’s price average market shares atthetimeoffer is granted withadiscountof payableThe uponexercise price ofanoptiongranted willbebasedonthefive-day undertheScheme the Scheme; Only Directors andeligible employees of theCompany andofthe Group in willbeeligible to participate authorities, from timeto time)atthetimeofofferScheme; ofoptionsunderthe capital oftheCompany (or suchotherhigherpercentage asmay by bepermitted therelevant regulatory The total shares number ofnew to beoffered shallnotexceed 10%oftheissuedandpaid-upshare

20,000 andabove Below 20,000 Number ofoptionsgranted 40% or20,000options, whichever ishigher 30% ortheremaining numberofoptionsunexercised Maximum percentageMaximum oftotal options exercisable Year 1 100% 40% * Year 2 30% - Year 3 30% - # At the end ofthefinancialperiod, theunissuedshares underoption were as follows: report. ofoptionsgrantedDetails to Non-Executive Directors areonDirectors’ disclosedinthesection Interests inthis Note: was asfollows: shares thefinancialperiod ofRM1eachduring The movement ordinary upunissuednew intheoptionsto take Employees’ Share (contd.) Scheme Option and above, whichisasfollows: the listofoptionholdersandtheirholdingsexcept for shares thoseholderswhohave optionsof100,000ordinary The Company hasbeengranted exemption by theCompanies Commission from ofMalaysia having to disclose Koong Koong Wai Seng* Second offerSecond First offer Third offer Fourth offer Fifth offer At 31 December 2009 At 31December - exercised - forfeited thefinancialperiod: Movement during At 1July 2008 upon histransfer to acompany whichisoutsidetheGroup 2008. on1April CommitteeThe Scheme hadapproved theapplicationby Koong Wai to Seng continueholdinghisunexercised optionsundertheScheme ..08GatdEecsd31.12.2009 Exercised Granted 1.7.2008 Number ofoptionsover shares ofRM1each ordinary 150,000 ordinary shares ordinary optionsover ofRM1each - Numberof 2,382,250 2,514,500 96,000 36,250 - - Directors’Report 150,000 - ordinary shares ordinary optionsover ofRM1each Numberof 2,514,500 2,970,250 (453,750) Exercise (2,000) price 1.00 1.00 2.00 5.00 3.00 RM 159 Sunway City Berhad Annual Report 2009 160

Sunway City Berhad Annual Report 2009

(a) Information Statutory Other Directors’Report

(b)

(e) (d) (c)

(f)

(i) directors took reasonable steps: Before theincomestatements andbalancesheetsoftheGroup andoftheCompany were madeout,the (ii) (i) thedirectorsAt are the date ofthisreport, notaware ofany circumstances whichwould render: (ii) (i) thereAs atthedate donotexist: ofthisreport, the financialstatements misleading. orfinancialstatements oftheGroupreport andofthe Company which would render any amountstated in thedirectorsAt are thedate ofthis report, notaware dealtwithinthis ofany circumstances not otherwise Company misleadingorinappropriate. would render adherence to theexistingmethodofvaluationassetsorliabilitiesGroup andofthe thedirectorsAt are thedate ofthis report, notaware ofany circumstances which have which arisen (ii) (i) theopinionofdirectors: In (ii) written offandthatadequatewritten allowance hadbeenmade for doubtfuldebts;and ofallowance forknown baddebtshadbeen doubtfuldebtsandsatisfiedthemselvesmaking thatall inrelation offofbaddebtsandthe thatproperhadbeentaken to thewriting action to ascertain expected sotoexpected realise. records down courseofbusinesshadbeenwritten to mightbe anamountwhich they intheordinary to ensure thatany current assetswhichwere to realise unlikely theirvalueasshown intheaccounting financial statements oftheGroup andofthe Company inadequate to any and substantialextent; off the amountwritten for baddebtsortheamountofallowance for doubtfuldebtsinthe Company misleading. tothe valuesattributed thecurrent assetsinthefinancialstatements oftheGroup andofthe financial period whichsecuresfinancial period theliabilitiesofany otherperson;or any charge ontheassetsofGroup andofthe Company sincetheendof whichhasarisen period. oftheGroupany contingent liability oroftheCompany sincetheendoffinancial whichhasarisen Group oroftheCompany to falldue;and meetitsobligationswhenthey ofthe whichwillormay affect oftwelvetheendfinancialperiod monthsafter theability period haveno contingentorotherliability becomeenforceable to becomeenforceable orislikely withinthe the operationsofGroup oroftheCompany ismade. for inwhichthis thefinancialperiod report to affect substantiallythe whichislikely andthedate resultsof ofthis end ofthefinancialperiod report the between orevent andunusualnature ofamaterial no item, transaction have intheinterval arisen Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling, AO Signed onbehalfoftheBoard inaccordance witharesolution ofthedirectors 2010. dated 26April The auditors, & Ernst Young, have expressed theirwillingness to continueinoffice. Auditors Subsequent event isdisclosedinNote 54to thefinancialstatements. Subsequent Event isdisclosedin NoteSignificant 53event thefinancialperiod tothefinancialstatements. during Significant EventDuring the Financial Period Ngian Siong Siew Directors’Report 161 Sunway City Berhad Annual Report 2009 162

Sunway City Berhad Annual Report 2009 Before me, 2010 Darul Ehsanon26April at Petaling Jaya intheState ofSelangor the abovenamed Tan Poh Chan andsolemnlydeclaredSubscribed by 1960. Act, Declarations the provisions oftheStatutory of thesameto thissolemndeclarationconscientiouslybelieving betrueandby virtue andImake opinion correct, solemnly andsincerely declare that theaccompanying financialstatements setoutonpages165 to 279are in my I, Tanprimarily Poh responsible Berhad, forthefinancialmanagementof City Chan,beingtheOfficer do Sunway Pursuant 169(16)oftheCompanies to Act, 1965 Section Declaration Statutory Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling, AO Signed onbehalfoftheBoard inaccordance witharesolution ofthedirectors 2010. dated 26April Company for thenended. theperiod and oftheCompany 2009andoftheresults asat31December andthecashflows oftheGroup andofthe StandardsFinancial soasto inMalaysia give ofthefinancialpositionGroup atrueandfairview Reporting on pages165to 279are drawn upinaccordance withtheprovisions oftheCompanies 1965andapplicable Act, Berhad, doherebyCity state that,intheopinionofdirectors, theaccompanying financialstatements setout We, Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook LingandNgian Siong,two Siew ofthedirectors being ofSunway Pursuant 169(15)oftheCompanies to Act, 1965 Section Directors By Statement Tan Poh Chan Ngian Siong Siew Group andofthe Company for thenended. theperiod andcashflowsthe Group ofthe andof theCompany 2009andoftheirfinancialperformance asat31December Standards andthe Companies soasto 1965inMalaysia Act, give ofthefinancialposition atrueandfairview ouropinion,thefinancialstatements haveIn beenproperly drawn upinaccordance with Reporting Financial Opinion opinion. We we believe thattheauditevidence have obtainedissufficientandappropriate to provide abasis forouraudit made by thedirectors, aswell theoverall asevaluating presentation ofthefinancialstatements. theappropriatenessevaluating oftheaccountingpoliciesusedandreasonableness ofaccountingestimates ofexpressingpurpose anopinionontheeffectiveness ofthe Company’s control. internal Anauditalsoincludes financial statements inorder to design auditprocedures thatare appropriate inthecircumstances, butnot for the assessments, we control considerinternal relevant to theCompany’s preparation andfairpresentation ofthe misstatement ofmaterial ofthefinancialstatements,risks whetherdue to fraudorerror.risk those In making the financialstatements. The procedures dependonourjudgement,includingtheassessmentof selected An auditinvolvesprocedures to performing abouttheamountsanddisclosures obtainauditevidence in statements are free from misstatement. material theaudittowith ethicalrequirements obtainreasonable assurance whetherthefinancial andplan andperform audit inaccordance withapproved standards onauditinginMalaysia. Those standards require thatwe comply Our responsibilityisto express anopiniononthesefinancialstatements basedonouraudit. our We conducted Auditors’ responsibility the circumstances. accountingestimates thatare andapplyingappropriate reasonable accountingpolicies;andmaking selecting in fair presentation offinancialstatements thatare free from misstatement, material whetherdue to fraudorerror; responsibility includes:designing, control implementingandmaintaininginternal relevant to thepreparation and statements inaccordance Standards withFinancial andtheCompanies 1965inMalaysia. Act, Reporting This The directors oftheCompany are responsible for thepreparation andfairpresentation ofthesefinancial Directors’ responsibility for thefinancialstatements notes,significant assetoutonpages165 to 279. accountingpoliciesandotherexplanatory and cashflow statements oftheGroup andofthe of Company thenended,for theperiod andasummary 2009oftheGroupDecember andoftheCompany, andtheincomestatements, statements ofchangesinequity We have audited thefinancialstatements ofSunway thebalancesheetsasat31 Berhad, whichcomprise City ontheFinancial StatementsReport the Members of Sunway City Berhad City Sunway of Members the Independent Auditors’ Independent to Report 163 Sunway City Berhad Annual Report 2009 164

Sunway City Berhad Annual Report 2009 (d) (c) (b) 2010 26 April Kuala Lumpur, Malaysia AccountantsChartered AF: 0039 & Ernst Young for thecontent ofthisreport. Companies andfor 1965inMalaysia Act, nootherpurpose. We donotassumeresponsibilityto any otherperson ismadesolelyto themembersofCompany,This report asabody, 174ofthe inaccordance withSection matters Other (a) accordance withtherequirementsIn thefollowing: oftheCompanies we 1965inMalaysia, Act, alsoreport requirements onotherlegalandregulatory Report Berhad City Sunway of Members the Auditors’ Independent to Report under Section 174(3)oftheAct. under Section tomaterial theconsolidated financialstatements anddidnotincludeany comment required to bemade The auditors’ onthefinancialstatements ofthesubsidiaries wereto any reports notsubject qualification explanations required by usfor thosepurposes. the preparation oftheconsolidated financialstatements and informationwe have and received satisfactory financial statements ofthe Company are in andcontent appropriateform andproper of for thepurposes We are that satisfiedthatthefinancialstatementshave ofthesubsidiaries beenconsolidated withthe that have beenincludedintheconsolidated financialstatements. asauditors,not acted whichare indicated inNote 50to thefinancialstatements, beingfinancialstatements We have considered thefinancialstatements andtheauditors’ ofwhich ofallsubsidiaries wehave reports with theprovisions oftheAct. Company ofwhichwe anditssubsidiaries have asauditors acted have inaccordance beenproperly kept ouropinion,theaccountingandotherrecordsIn andtheregisters required by by tothe theAct bekept Chartered AccountantChartered No. 2030/03/12(J) Kua ChooKai The accompanying notes ofthefinancialstatements. form anintegral part Diluted Basic (sen): holdersoftheCompany equity Earnings pershare attributable to Minority interests Minority Equity holdersoftheCompanyEquity to:Attributable Profit/(loss) for theperiod/year Income taxexpense Income Profit/(loss) before tax controlled entities Share ofprofit ofjointly Share ofprofit ofassociates Finance costs Operating profit Other expenses Other Selling and marketing expenses andmarketing Selling Administrative expenses Other income Other Gross profit Cost ofsales Revenue oe1.7.2008 Note 1 1.5 55.81 114.45 11 1 1.6 55.87 114.46 11 0 2557 (7,8) 1,0)(21,386) (19,009) (175,685) (275,527) 10 11147 6405 (5,1)44,647 (156,218) 634,005 1,141,407 7 (0,8) 7,3) 6,9)(43,703) (65,898) (76,632) (104,780) 6 8126 3475 4,3 29,031 49,030 374,755 801,206 5 (9,9) 6937 (499 (29,240) (24,959) (629,357) (596,393) 4 16097 13456 1683 144,478 136,833 1,314,556 1,600,967 3 for the period ended 31 December 2009 December 31 ended period the for 31.12.2009 11843 6860 (030 88,350 (90,320) 698,670 1,188,433 10454 6519 1184 115,238 111,874 685,199 1,004,574 (8,4) 1864 (908 (31,149) (49,028) (168,664) (284,944) (7,2) 1894 (0,1)(22,926) (200,213) (148,934) (271,120) RM'000 8580 4830 (7,2)23,261 (175,227) 458,320 865,880 3792 196,414 327,972 5798 2196 (7,2)23,261 (175,227) 261,906 537,908 8580 4830 (7,2)23,261 (175,227) 458,320 865,880 (123 (366 (,8)(1,844) (1,983) (43,686) (61,283) 4,6 8,744 49,660 804 3,223 8,094 to Group 30.6.2008 (restated) 1.7.2007 Income Statements Income RM'000 to 31.12.2009 1.7.2008 RM'000 Company to - - - 30.6.2008 (restated) 1.7.2007 RM'000 to - - - 165 Sunway City Berhad Annual Report 2009 166

Sunway City Berhad Annual Report 2009 Balance Sheets Balance Total assets asheldfor sale assetsclassified Non-current Cash andbankbalances Tax recoverable controlled entities Amounts duefrom jointly Amounts duefrom associates Amounts duefrom subsidiaries Other receivables Other Trade receivables Inventories Property development costs Property Current assets Other investments Other Deferred taxassets Goodwill controlled entities Investments injointly Investments inassociates Investments insubsidiaries development Land heldfor property Prepaid landleasepayments Investment properties Biological assets Property, plantandequipment assets Non-current Assets as at 31 December 2009 December 31 at as oe1.7.2008 Note 31 0 3,5 4,3 962 80,403 39,612 41,249 549,030 108,615 438,050 41,880 30 108,620 29 28 19 7 3,5 3,3 498 107,907 3,054 12,171 84,978 6,031 20,709 10,912 139,638 209,323 14,541 135,257 52,320 160,461 319,127 50,671 27 26 531,022 25 24 1 2,2 509 5,3 13,456 13,139 50,938 11,265 16,895 23,027 22,175 65,099 11,265 23,035 23 37 125,926 15,533 22 27,648 21 20 7 0,5 9,7 ,9 2,299 2,299 82,088 394,473 7,915 402,954 20,965 91,189 18 7,270 20,849 429,469 17 3,207,367 363,926 16 15 870,055 14 13 31.12.2009 61522 52699 19594 2,103,475 1,915,934 5,216,949 6,165,282 14786 38055 11773 1,461,064 1,177,753 3,890,555 1,447,846 14786 13317 11773 1,461,064 1,177,753 1,353,197 1,447,846 47746 13634 7811 642,411 738,181 1,326,394 4,717,436 RM'000 2,6 189 1,1 13,436 11,018 41,879 23,765 52 763 532 to Group - 2,537,358 - - - - 30.6.2008 (restated) 1.7.2007 RM'000 to - - 9206 1,182,129 902,046 - - 10,853 - - 5437 525,388 564,367 - 31.12.2009 1.7.2008 RM'000 Company to ------30.6.2008 (restated) 1.7.2007 RM'000 to 6 ------The accompanying notes ofthefinancialstatements. form anintegral part Total andliabilities equity Total liabilities Current taxpayable leaseliabilities purchaseHire andfinance Borrowings Amounts dueto associates Amounts dueto subsidiaries payables Other Trade payables Current liabilities Long liabilities term Deferred taxliabilities leaseliabilities purchaseHire andfinance shareholders ofsubsidiaries Advances by minority Borrowings liabilities Non-current Total equity interestsMinority Reserves Share premium Warrants Share capital holdersoftheCompany attributableEquity to equity andliabilities Equity Balance Sheets as at as Sheets Balance oe1.7.2008 Note 6 ,8 ,8 6 492 369 3,980 7,083 36 8 379 1,4 379 19,741 260,459 617,526 13,719 573,930 19,741 701,953 13,719 32 28 9 4,2 2,1 641 81,023 12,084 76,481 3,965 421,218 246,112 341,325 35 223,852 39 38 3 975 63,678 39,755 33 6 839 599 14 700 10,139 104 9,350 249,113 5,979 435,020 18,369 296,076 37 36 292,505 34 2 7,6 936,705 871,562 32 4 9,0 696,077 996,301 44 3 ,7,3 8,2 591 246,988 25,941 880,129 1,370,532 43 1 295 2,0 295 23,000 308,733 308,857 22,995 308,733 23,000 308,857 22,995 42 41 0 6,5 6,1 6,5 469,919 469,952 469,919 469,952 40 31.12.2009 61522 52699 19594 2,103,475 1,915,934 5,216,949 6,165,282 29665 28901 10819 1,054,835 1,088,189 2,839,091 2,996,645 13944 12750 10875 527,547 1,078,735 1,287,540 1,339,434 16721 15151 944 527,288 9,454 1,551,551 1,657,211 31867 23788 8775 1,048,640 827,745 2,377,858 3,168,637 21236 16171 8775 1,048,640 827,745 1,681,781 2,172,336 RM'000 5,0 22,559 51,502 to Group - 30.6.2008 (restated) 1.7.2007 31 December 2009 (contd.) 2009 December 31 RM'000 to - 3665 153,748 366,675 - 31.12.2009 1.7.2008 RM'000 Company to - - - - 516,449 - - 30.6.2008 (restated) 1.7.2007 RM'000 to - - - - 167 Sunway City Berhad Annual Report 2009 168

Sunway City Berhad Annual Report 2009

Statements of Changes in Equity for the period ended 31 December 2009

Minority Total Attributable to equity holders of the Company Interests Equity Non-Distributable Distributable

Foreign Share Currency Share Share Option Capital Translation Retained Capital Warrants Premium Reserve Reserve Reserve Profits (Note 40) (Note 41) (Note 42) (Note 43) (Note 43) (Note 43) (Note 43) Total Group Note RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM’000 RM'000 RM'000 RM'000

At 1 July 2007 463,444 - 298,559 - 25,723 13,576 614,628 1,415,930 537,117 1,953,047

Foreign currency translation - - - - - (1,873) - (1,873) (866) (2,739) Transfer to/(from) reserves - - - - 1,195 - (1,195) - - - Net income/(expense) recognised directly in equity - - - - 1,195 (1,873) (1,195) (1,873) (866) (2,739) Profit for the year ------261,906 261,906 196,414 458,320 Loss for the year recognised directly in advances by minority shareholders of a subsidiary ------(818) (818) Total recognised income and expense for the year - - - - 1,195 (1,873) 260,711 260,033 194,730 454,763

Dividends 12 ------(37,189) (37,189) - (37,189) Issue of warrants - 23,371 - - - - - 23,371 - 23,371 Issue of ordinary shares: - pursuant to ESOS 3,998 - 217 - - - - 4,215 - 4,215 - pursuant to exercise of warrants 2,477 (371) 9,957 - - - - 12,063 - 12,063 Share options granted under ESOS - - - 3,358 - - - 3,358 - 3,358 Dividends paid by subsidiaries ------(35,770) (35,770) At 30 June 2008 469,919 23,000 308,733 3,358 26,918 11,703 838,150 1,681,781 696,077 2,377,858 Statements of Changes in Equity for the period ended 31 December 2009 (contd.)

Minority Total Attributable to equity holders of the Company Interests Equity Non-Distributable Distributable

Foreign Share Currency Share Share Option Capital Translation Retained Capital Warrants Premium Reserve Reserve Reserve Profits (Note 40) (Note 41) (Note 42) (Note 43) (Note 43) (Note 43) (Note 43) Total Group (contd.) Note RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM’000 RM'000 RM'000 RM'000

At 1 July 2008 469,919 23,000 308,733 3,358 26,918 11,703 838,150 1,681,781 696,077 2,377,858

Foreign currency translation - - - - - 2,530 - 2,530 2,090 4,620 Transfer to/(from) reserves - - - - 47,042 - (47,042) - - - Net income/(expense) recognised directly in equity - - - - 47,042 2,530 (47,042) 2,530 2,090 4,620 Profit for the period ------537,908 537,908 327,972 865,880 Total recognised income and expense for the period - - - - 47,042 2,530 490,866 540,438 330,062 870,500

Dividends 12 ------(45,820) (45,820) - (45,820) Issue of ordinary shares: - pursuant to ESOS 2 ------2 - 2 - pursuant to exercise of warrants 31 (5) 124 - - - - 150 - 150 Increase in equity in a subsidiary ------25,343 25,343 Dividends paid by subsidiaries ------(31,458) (31,458) Dividends paid to a minority shareholder ------(3,920) (3,920) - (3,920) Dilution of equity interest in a subsidiary ------(295) (295) 295 - Redemption of preference shares in a subsidiary ------(24,014) (24,014) Disposal of a subsidiary ------(4) (4) At 31 December 2009 469,952 22,995 308,857 3,358 73,960 14,233 1,278,981 2,172,336 996,301 3,168,637 169 Sunway City Berhad Annual Report 2009 170

Sunway City Berhad Annual Report 2009

Statements of Changes in Equity for the period ended 31 December 2009 (contd.)

Non-Distributable Distributable

Share Share Share Option Retained Capital Warrants Premium Reserve Profits (Note 40) (Note 41) (Note 42) (Note 43) (Note 43) Total Company Note RM'000 RM'000 RM'000 RM'000 RM'000 RM'000

At 1 July 2007 As previously stated 463,444 - 298,559 - 256,303 1,018,306 Prior year adjustments 56 - - - - 1,255 1,255 At 1 July 2007 (restated) 463,444 - 298,559 - 257,558 1,019,561 Issue of warrants - 23,371 - - - 23,371 Issue of ordinary shares - pursuant to ESOS 3,998 - 217 - - 4,215 - pursuant to exercise of warrants 2,477 (371) 9,957 - - 12,063 Share options granted under ESOS - - - 3,358 - 3,358 Net profit for the year, representing total recognised income and expense for the year - - - - 23,261 23,261 Dividends 12 - - - - (37,189) (37,189) At 30 June 2008 469,919 23,000 308,733 3,358 243,630 1,048,640 Issue of ordinary shares: - pursuant to ESOS 2 - - - - 2 - pursuant to exercise of warrants 31 (5) 124 - - 150 Net loss for the period, representing total recognised income and expense for the period - - - - (175,227) (175,227) Dividends 12 - - - - (45,820) (45,820) At 31 December 2009 469,952 22,995 308,857 3,358 22,583 827,745

The accompanying notes form an integral part of the financial statements. carried forward carried Net cashusedininvesting activities oflandinprevious financial year considerationfor theacquisition Partial repayment ofbalance expenditure ofinvestment properties Acquisition andsubsequent Acquisition ofbiological assets andequipment(Note a) Acquisition ofproperty, plant Acquisition ofland property, plantandequipment paidonacquisitionof Deposit inasubsidiary Proceeds from disposalofinvestment properties Proceeds from disposalofinvestment plantandequipment Proceeds from disposalofproperty, Cash flows from investing activities operatingactivities Net cashgenerated from Taxes paid Taxes refunded Cash generated from operations -jointlycontrolled entities -subsidiaries Dividends received -others -subsidiaries Interest received Payment ofoperatingexpenses Payment to suppliersandcontractors Receipts fromReceipts customers Cash flows from operating activities for the period ended 31 December 2009 December 31 ended period the for 31.12.2009 17578 12748 4,3 31,344 40,339 1,257,418 1,705,778 1.7.2008 (4,1) 4028 (,3)(2,730) (2,034) (430,258) (247,519) (1,8) 2487 (,2)(2,119) (1,321) (224,867) (111,480) (8,3) 2591 (596 (32,043) (75,986) (295,901) (487,338) (1,9) 5648 (725 (37,751) (27,225) (516,438) (716,694) RM'000 4414 3992 5,9 66,846 54,197 399,932 494,174 5573 4951 5,2 64,346 51,127 479,551 545,773 (132 (72,538) (11,342) (731 (1,4) 70 (680) (720) (114,240) (67,301) (275 (19,297) (52,785) (469 (82,119) (54,669) 2,1 002 2,1 20,002 26,314 20,002 26,314 1,1 440 179 2,342 1,719 14,470 17,713 (6,267) 1,360 300 250 300 2,500 3,070 2,500 3,070 (3)(388) (237) 56 1,072 526 to 7 - - Group Cash FlowStatements Cash 30.6.2008 (restated) 1.7.2007 RM'000 to - - - - 4,9 53,799 46,990 - - 3,7 26,653 38,976 - 31.12.2009 1.7.2008 RM'000 Company to 7 ------69 - - 30.6.2008 (restated) 1.7.2007 RM'000 to ------171 Sunway City Berhad Annual Report 2009 172

Sunway City Berhad Annual Report 2009 for the period ended 31 December 2009 (contd.) 2009 December 31 ended period the for FlowStatements Cash investing activities Net cash(usedin)/generated from entities Advances to jointlycontrolled Advances to jointventure partners Advances (to)/from associates Repayment from subsidiaries Advances to subsidiaries inajointlycontrolled entity ofpreferenceRedemption shares inasubsidiary ofpreferenceRedemption shares Other investments Other preference shares Investment inunquoted Investment inanassociate controlled entity Investment inajointly shares issuedby asubsidiary Investment inpreference shares issuedby subsidiaries Additional investment inordinary inprevious financial year ofinvestment properties considerationfor theacquisition Full repayment ofbalance brought forward Net cashusedininvesting activities (contd.) Cash flows from investing activities 31.12.2009 1.7.2008 (2,2) 5430 1669 (393,754) 176,679 (594,340) (422,328) (4,1) 4028 (,3)(2,730) (2,034) (430,258) (247,519) RM'000 (670 (,0) 6,6)(7,076) (67,366) (7,707) (66,740) (111 (357 (111 (13,537) (21,101) (13,537) (21,101) (10,853) (097 (000 (40,937) (30,080) (40,937) (253 (119,918) (22,543) (,2) ,6 606 7,151 (6,016) 7,160 (6,022) (6,043) (4,026) 3,456 to - - - - - Group 30.6.2008 (restated) 1.7.2007 RM'000 to - 5360 2,911 513,640 - - - 3,456 - - 9,8 8,624 93,186 - - - (10,853) - - - (0,7)(34,191) (201,778) - - (358 (348) (83,518) - 31.12.2009 1.7.2008 RM'000 Company to - (354,558) - - - - 30.6.2008 1.7.2007 (restated) RM'000 to ------financingactivities Net cash(usedin)/generated from ofsubsidiaries shareholders Dividends paidto minority theCompany Dividends paidto shareholders of exercise ofwarrants shares pursuantto Issuance ofordinary ESOS shares pursuantto Issuance ofordinary shareholders ofsubsidiaries shares to minority Issuance ofordinary Issuance ofwarrants issuedby asubsidiary C1andC2Notes Notes") ("Senior ofSecuredRedemption ClassA,B, subsidiaries subsidiaries shareholders of heldby minority ofpreferenceRedemption shares shareholders ofsubsidiaries (Repayment to)/advances from minority Interest paid andleasefinancing Repayment ofhire purchase papers and medium term notes papersandmediumterm Repayment ofcommercial papers and medium term notes papersandmediumterm Issuance ofcommercial Repayment ofbonds Repayment ofrevolving credits Repayment loans ofterm Drawdown ofbonds Drawdown ofrevolving credits Drawdown loans ofterm Cash flowsactivities from financing for the period ended 31 December 2009 (contd.) 2009 December 31 ended period the for 31.12.2009 1.7.2008 (9,0) 1,4 2167 376,956 (271,667) 213,549 (190,607) (1,4) 7,9) 6,7)(40,934) (65,078) (79,396) (117,346) (7,0) 1000 (7,0)(110,000) (270,000) (110,000) (270,000) (4,1) 8,8)(38,000) (82,684) (147,810) RM'000 1000 9,0 800 98,000 98,000 98,000 100,000 4621 2148 1889 11,998 158,809 281,498 486,291 (214 (31,819) (32,124) (580 (719 (580 (37,189) (45,820) (37,189) (45,820) (859 (15,988) (68,509) (41,511) (750 (000 (750 (60,000) (67,500) (60,000) (67,500) 25,343 (,6)10,689 (3,567) (,0) 402 (1)(531) (719) (4,042) (8,206) 10 1,6 5 12,063 150 12,063 150 to 2 4,215 2 - 23,371 - - (271,132) - - 240,000 - - 235,963 - Group 30.6.2008 (restated) 1.7.2007 RM'000 to - - (41,511) - Cash FlowStatements Cash 31.12.2009 1.7.2008 RM'000 Company to 2 4,215 2 - - - 23,371 - - - - - 240,000 - - 235,963 - 30.6.2008 1.7.2007 (restated) RM'000 to ------173 Sunway City Berhad Annual Report 2009 174

Sunway City Berhad Annual Report 2009 The accompanying notes ofthefinancialstatements. form anintegral part for the period ended 31 December 2009 (contd.) 2009 December 31 ended period the for FlowStatements Cash plantandequipment Cash outflow for acquisitionofproperty, payment in prior years payment inprior equipmentacquired viadeferred Payment for property, plantand Additions viacash Additions viadeferred payment financeleasearrangements Additions viahire purchase and andequipment Additions ofproperty, plant Note (a) attheendofperiod/year(Note 30) Cash and cashequivalents atbeginning ofperiod/year Cash and cashequivalents rates changes Effects of foreign exchange andcashequivalents Net (decrease)/increase incash 31.12.2009 1.7.2008 (1,6) 911 (071 50,048 (40,791) 19,141 (118,761) RM'000 1140 2487 131 2,119 1,321 224,867 111,480 1903 1462 131 2,119 1,321 174,642 109,053 1272 2908 131 2,330 1,321 259,028 132,752 4038 5398 3,1 80,403 39,612 543,928 430,358 5398 5328 8,0 30,355 80,403 523,248 543,928 (369 (5,036) (23,699) 247 50,225 2,427 511 1,539 5,191 to - (79,350) - Group 30.6.2008 (restated) 1.7.2007 RM'000 to 31.12.2009 1.7.2008 RM'000 Company to - - - (211) - - 30.6.2008 1.7.2007 (restated) RM'000 to - - - 2. 1.

Significant Accounting Policies Corporate Information 2.1 (i) are: ofthesubsidiaries activities The principal oftheCompany development andinvestment, activities The are principal andinvestment property holding. 46150 Petaling Jaya, DarulEhsan. Selangor placeofbusinessislocatedThe atLevel principal Sunway, 3,Menara JalanLagoon Timur, BandarSunway, Level Sunway, 16,Menara JalanLagoon Timur, BandarSunway, 46150Petaling Jaya, DarulEhsan. Selangor Berhad. Securities ofBursaMalaysia Market Theon theMain registered officeofthe Company islocated at The Company company, isapubliclimited liability andislisted anddomiciledinMalaysia, incorporated (ii) (iii) (iv) (v) (vi) therefore thecomparative amountsare notinrespectofcomparableperiods. 2009cover compared31 December an18-monthperiod to the12-monthyear endof30June2008and Accordingly, thefinancialstatements oftheGroup andofthe Company ended for thefinancialperiod The financial year endofthe Company waschangedfrom andallitssubsidiaries 30JuneDecember.to 31 2010. of thedirectors on26April The financialstatements were authorised for issue by theBoard ofDirectors inaccordance witha resolution There have thefinancialperiod. beennosignificant during changesinthenature activities oftheprincipal nearest indicated. thousand (RM’000) except whenotherwise The financialstatements are presentedRinggitMalaysia (RM)andallvaluesare in rounded to the basis, except for investment thathave beenmeasured properties attheirfairvalues. The financialstatements oftheGroup andofthe Company have beenprepared cost onahistorical with thoseadopted intheaudited financialstatements for the year ended30June2008. StandardsFinancial inMalaysia. Reporting The significant accountingpoliciesadopted are consistent The financialstatements complywiththeprovisions ofthe 1965andapplicable Companies Act, ofpreparationBasis development andinvestment; property operation ofhotels, andrelated themeparks activities; rendering recreational clubfacilities; operation oftravel, tour businessandrelated activities; operation ofamedicalcentre; and time sharing businesses.time sharing Notes to the FinancialStatements the to Notes 31 December 2009 December 31 175 Sunway City Berhad Annual Report 2009 176

Sunway City Berhad Annual Report 2009

2. FinancialStatements the to Notes

2.2 Significant Accounting Policies (contd.) (a) ofsignificant accountingSummary policies (ii) (i) andbasisofconsolidation Subsidiary share ofchanges in thesubsidiaries’ since then. equity subsidiaries’ identifiableassetsandliabilities attheacquisitiondate andtheminorities’ not heldby theGroup. ismeasured attheminorities’ It share ofthefairvalue interests ofprofit represent or lossandnetassetsinsubsidiaries Minority theportion loss. contingent liabilitiesover thecostofacquisitionisrecognised immediately inprofit or excess oftheGroup’s interest inthenetfairvalueofidentifiableassets, liabilitiesand of theidentifiableassets, liabilitiesandcontingent represents goodwill. Any Any excess ofthecostacquisitionover theGroup’s interest inthenetfairvalue instruments issued, plusany to theacquisition. costsdirectlyattributable at thedate ofexchange, oftheassetsgiven, liabilitiesincurred orassumed, andequity acquisition. The costofanacquisitionismeasured astheaggregate ofthefairvalues, of theassetsacquired andliabilitiescontingentassumedatthedate of method ofaccountinginvolves allocatingthecostofacquisitionto thefairvalue Acquisitions are ofsubsidiaries accounted for usingthepurchase method. The purchase events insimilarcircumstances. policies are adopted intheconsolidated and financialstatements transactions for like andunrealisedtransactions gainsorlossesare eliminated infull. Uniform accounting control preparing ceases.theconsolidated financialstatements, In intragroup balances, the Group obtainscontrol, andcontinueto beconsolidated untilthedate thatsuch areSubsidiaries consolidated from thedate ofacquisition,beingthedate onwhich aresubsidiaries prepared for date astheCompany. thesamereporting asatthebalancesheetdate.and itssubsidiaries The financialstatements ofthe The consolidated thefinancialstatements financialstatements ofthe comprise Company ofconsolidationBasis amountsisincludedinprofit orloss. disposal proceeds andtheircarrying losses.cost lessimpairment Ondisposalofsuchinvestments, thedifference net between theCompany’sIn separate financialstatements, investments are insubsidiaries stated at assessing whethertheGroup hassuchpower over anotherentity. potential votingthatare rights currently exercisable are orconvertible considered when operating policiessoasto obtainbenefitsfrom theiractivities. The existence andeffect of areSubsidiaries entitiesover whichtheGroupto control hastheability thefinancialand Subsidiary 31 December 2009 December 31 2.

2.2 Significant Accounting Policies (contd.) (b) ofsignificant accountingSummary policies(contd.) carrying amountsisincludedinprofit orloss. carrying On disposalofsuchinvestments, thedifference netdisposalproceeds between andtheir losses.impairment theCompany’sIn separate financialstatements, investments inassociates are stated atcostless similar circumstances. accounting period. Uniform accountingpoliciesare andevents adopted in for transactions like audited financial statements available andmanagementfinancialstatements totheendof are withthoseoftheGroup, notcoterminous theshare ofresults atfrom isarrived thelast method.in applyingtheequity Where thedates oftheaudited financialstatements used The mostrecent available audited financialstatements oftheassociates are used by theGroup made payments onbehalfoftheassociate. the associate, theGroup losses, doesnotrecognise unlessithasincurred obligationsor further including any interests long-term oftheGroup’s that,in substance, form part netinvestment in When theGroup’s share oflossesinanassociate equalsorexceeds itsinterest intheassociate, acquired. of theGroup’s share oftheassociate’s profit inwhichtheinvestment orlossintheperiod is amountoftheinvestment andisinstead includedasincomeinthedetermination carrying assets, liabilitiesandcontingentover thecostofinvestment isexcluded from the Any excessnot amortised. oftheGroup’s share ofthenetfairvalue oftheassociate’s identifiable amountoftheinvestment relating andis Goodwill to anassociate isincludedinthecarrying Group ceasesto have significant influence over theassociate. accounted forequity from thedate theGroup obtainssignificant influence untilthedate the losswithrespectto theGroup’simpairment netinvestment intheassociate. The associate is to recognise method,of theequity Group any whetheritisnecessary determines additional associate are eliminated oftheGroup’s to theextent interest intheassociate. After application method, theGroupthe equity unrealisedbetween andthe gainsandlossesontransactions oftheassociate,in theequity theGroup recognises itsshare applying ofsuchchanges. In recognised intheconsolidated profit orloss. Where there hasbeenachange recognised directly share ofnetassetstheassociate. The Group’s share ofthenetprofit orlossoftheassociate is in theconsolidated balancesheetatcostadjusted for post-acquisition changesintheGroup’s methodofaccounting. method,equity Undertheequity investment inassociate iscarried Investments inassociates are accounted for intheconsolidated financialstatements usingthe those policies. decisions oftheinvesteefinancial andoperatingpolicy butnotincontrol orjointcontrol over oraninterest inajointventure.subsidiary Significant inthe influenceisthe power toparticipate Associates are entitiesinwhichtheGroup hassignificant influence and thatisneithera Associates Notes to the FinancialStatements the to Notes 31 December 2009 December 31 177 Sunway City Berhad Annual Report 2009 178

Sunway City Berhad Annual Report 2009

2. FinancialStatements the to Notes

2.2 Significant Accounting Policies (contd.) (e) (d) (c) ofsignificant accountingSummary policies(contd.) Freehold landisstated atcostlessany losses. accumulated impairment cost lessaccumulated depreciation andany losses. accumulated impairment Subsequent to recognition, property, plantandequipmentexcept for freehold landare stated at are inwhichthey thefinancialperiod incurred.during isderecognised.part Allotherrepairs andmaintenance are charged to theincomestatement Group andthecostofitem canbemeasured reliably. amountofthereplaced The carrying when itisprobable thatfuture economic benefitsassociated withtheitem willflow tothe amountorrecognisedincluded intheasset’s asaseparate asset,asappropriate, carrying only All items of property, plant andequipmentare initiallyrecorded atcost.Subsequentcostsare Property, plant andequipment anddepreciation amountofgoodwillrelating sold. to theentity include thecarrying valuemay beimpaired. andlossesonthedisposalofanentity Gains indicate that thecarrying reviewed for annually ormore impairment, frequently ifevents orchangesincircumstances butinstead,at costlessany itis losses. accumulated isnotamortised impairment Goodwill assets, liabilitiesandcontingentliabilities. Following theinitialrecognition, goodwillismeasured the costofbusinesscombinationover theGroup’s interest inthenetfairvalueof identifiable acquiredGoodwill inabusinesscombinationisinitiallymeasured atcostbeingtheexcess of Goodwill amount isincludedinprofit orloss. On disposalofsuchinvestment, thedifference netdisposalproceeds between anditscarrying losses.stated atcostlessimpairment theCompany’sIn separate financialstatements, investments injointlycontrolled entitiesare inNote 2.2(b). methodofaccountingasdescribed statements usingtheequity Investments injointlycontrolled entitiesare accounted for intheconsolidated financial inwhicheachventurerestablishment ofaseparate entity hasaninterest. to jointcontrol,that issubject andajointlycontrolledisjointventure entity thatinvolves the aneconomicactivity undertake whereby arrangement ormore two is acontractual parties The Group hasinterests injointventures whichare jointlycontrolled entities. Ajointventure Jointly controlled entities 31 December 2009 December 31 2.

2.2 Significant Accounting Policies (contd.) (e) ofsignificant accountingSummary policies(contd.) (f) each assetto itsresidual valueover theestimated usefullife, atthefollowing annualrates: property, plantandequipmentisprovided for onastraight-line basisto off thecostof write progress are alsonotdepreciated astheseassetsare notavailable for use. Depreciation ofother Freehold landhasanunlimited usefullife andtherefore isnotdepreciated. Capital work-in- Property, plant andequipment anddepreciation (contd.) and the net carrying amountisrecognised inprofit orloss.and thenetcarrying are from expected itsuseor disposal. The difference thenetdisposalproceeds, between ifany An item ofbiological assetisderecognised upondisposal orwhennofuture economicbenefits in theitems ofbiological asset. estimates ofconsumptionthefuture pattern andtheexpected economicbenefitsembodied end to ensure ofdepreciation thattheamount, methodandperiod are consistent withprevious The residual values, biological life anddepreciation methodare reviewed ateachfinancial year each assetto itsresidual value over theestimated biological life, atanannualrate of20%. Depreciation ofbiological assetsisprovided for onastraight-line basisto offthecost of write and any losses. accumulated impairment Subsequent to recognition, biological assetsare stated atcostlessaccumulated depreciation are inwhichthey thefinancialperiod incurred.income statement during the costofitem canbemeasured reliably. andmaintenance are Allupkeep charged to the probable thatfuture economicbenefits associated withtheitem willflow tothe Group and amountorrecognisedthe asset’s asaseparate asset,asappropriate, carrying onlywhenitis All items of biological assets are initiallyrecorded atcost.Subsequentcostsare includedin Biological assets amountisrecogniseddisposal proceeds, inprofit ifany orloss. andthenetcarrying economic benefitsare from expected itsuseordisposal. The difference thenet between An item of property, plant andequipmentisderecognised upondisposalorwhennofuture in theitems ofproperty, plantandequipment. estimates ofconsumptionthefuture pattern andtheexpected economicbenefits embodied to ensure ofdepreciation thattheamount,methodandperiod are consistent withprevious The residual values, usefullife anddepreciation methodare reviewed ateachfinancial year-end Equipment, furniture andfittings vehiclesMotor Plant andmachinery Renovations Buildings Notes to the FinancialStatements the to Notes 10-20 5-20 5-20 10 % 2 31 December 2009 December 31 179 Sunway City Berhad Annual Report 2009 180

Sunway City Berhad Annual Report 2009

2. FinancialStatements the to Notes

2.2 Significant Accounting Policies (contd.) (h) (g) ofsignificant accountingSummary policies(contd.) (ii) (i) developmentLand heldfor property andcosts are recognisedproperty inprofit orlossinthe arise. year inwhichthey fromexpected itsdisposal. Any gainsorlossesontheretirement ordisposalofaninvestment withdrawn from ispermanently investment useandnofuture economicbenefitis property are derecognisedInvestment properties have wheneitherthey beendisposedoforwhenthe atfairvalue. iscarried investment property interestappreciation orboth.Any underanoperatingleaseclassifiedas suchproperty basiswhentheGroup rentals holdsitto earn orfor capital onaproperty-by-property property interest underanoperatingleaseisclassifiedandaccounted A property for asaninvestment profit orlossinthe arise. year inwhichthey from orlossesarising changesinthefairvaluesofinvestment areGains recognised properties in beingvalued. oftheproperties qualification and inthelocationandcategory recent experience by registeredperformed independentvaluershaving anappropriate recognised professional atby referenceis arrived forand prices similarproperties oftransaction evidence to market costs. Subsequentto initialrecognition, investment are stated properties atfairvalue. Fair value appreciation orforare measured both.Suchproperties initiallyatcost,includingtransaction whichare are rental heldeitherto properties Investment earn properties incomeorfor capital Investment properties which ismeasured atthelower ofcostandnetrealisable value. development costsnotrecognisedProperty asanexpenseare recognised asanasset, period, isrecogniseddefects liability asanexpenseimmediately. Any lossonadevelopment project, includingcoststo expected beincurred over the soldare recognisedproperties are inwhichthey asanexpenseintheperiod incurred. costs incurred thatisprobable willberecoverable, development costson andproperty development revenue development isrecognisedproperty ofproperty onlyto theextent cannot be Wherereliably estimated, thefinancial outcome ofadevelopment activity developmentProperty costs development costs.estimated total property to development costsincurreddate for bearto the performed work that property stage ofcompletionmethod. The by stageofcompletionisdetermined theproportion development revenue and expensesare recognised intheincomestatement by usingthe canbe reliably estimated,When thefinancialoutcome ofadevelopment activity property orthatcanbeallocated onareasonabledevelopment activities basisto suchactivities. allcoststhat are development to costscomprise Property directlyattributable operatingcycle. canbecompleted withinthenormal that thedevelopment activities havepoint whendevelopment activities commencedandwhere itcanbedemonstrated development costsatthe development isreclassifiedLand heldfor asproperty property stated atcost lessany losses. accumulated impairment assetsandis Suchlandisclassified withinnon-current operatingcycle. within thenormal outorwherehave are to development beencarried activities notexpected becompleted development consistsoflandwhereLand heldfor nodevelopment activites property developmentLand heldfor property 31 December 2009 December 31 2.

2.2 Significant Accounting Policies (contd.) (i) (h) ofsignificant accountingSummary policies(contd.) goodwill isrecognised inprofit orloss. been recognised for years. theassetinprior Areversal lossfor ofimpairment anassetotherthan ordepreciation) loss would had noimpairment have (netofamortisation beendetermined recoverable amountthat amount,provided thatthisamountdoesnotexceed thecarrying was recognised. amountofanassetotherthangoodwill isincreased to itsrevised The carrying estimates usedto theasset’s determine recoverable loss amountsincethelastimpairment for anassetotherthangoodwill isreversed if, andonlyif, there hasbeenachangeinthe lossongoodwillis notreversed loss inasubsequent period. Animpairment Impairment lossisrecognisedAn impairment inprofit inwhichitarises. orlossintheperiod basis.units onapro-rata amountoftheotherassetsinunitorgroups of of unitsandthen,to reduce thecarrying amountofany goodwillallocatedallocated first to thoseunitsor to groupsreduce thecarrying recoverable lossesrecognised inrespectofaCGU amount.Impairment orgroups ofCGUs are exceeds itsrecoverable amount,theassetisconsidered impaired down andiswritten to its specific to theasset. andtherisks time valueofmoney amountofanasset Where thecarrying assessmentsofthe discountratetheir present thatreflectscurrent market valueusingapre-tax assessingvalueinuse,and itsvalueinuse. theestimated In future cashflows are discounted to An asset’s recoverable amountisthehigherofanasset’s orCGU’s fairvaluelesscoststo sell whether otherassetsorliabilitiesoftheGroup are assigned to thoseunitsorgroups ofunits. of CGUs, thatare to expected benefitfrom thesynergies ofthecombination,irrespective combination is, from theacquisition date, allocated to eachoftheGroup’s CGUs, orgroups unit(CGU)the cash-generating to whichtheassetbelongsto. acquired Goodwill inabusiness independent ofthosefrom thisisthecase, otherassets. recoverable If for amountisdetermined on anindividualassetbasisunlessthedoesnotgenerate cashflows thatare largely For testing of theseassets, ofimpairment thepurpose recoverable amountisdetermined frequently are whenindicators ofimpairment identified. For goodwill, therecoverable amountisestimated ateachbalancesheetdate ormore exists, theasset’s recoverable amountisestimated loss. to theamountofimpairment determine sheet date to whetherthereany determine suchindication isany If indicationofimpairment. inventories, deferred assetsheldfor saleare taxassetsandnon-current reviewed ateachbalance amountsofassets, development otherthaninvestment costs, property,The property carrying ofnon-financialassets Impairment (ii) developmentLand heldfor property andcosts (contd.) payables. over revenue recognised intheincomestatement isclassifiedasprogress billingswithin classified asaccruedbillingswithin receivables andtheexcess ofbillings to purchasers The excess ofrevenue recognised intheincomestatement over billingsto purchasers is developmentProperty costs (contd.) Notes to the FinancialStatements the to Notes 31 December 2009 December 31 181 Sunway City Berhad Annual Report 2009 182

Sunway City Berhad Annual Report 2009

2. FinancialStatements the to Notes

2.2 Significant Accounting Policies (contd.) (k) (j) ofsignificant accountingSummary policies(contd.) (v) (iv) (iii) (ii) (i) basis orto realisesimultaneously. theassetandsettleliability when theGroup hasalegallyenforceable to offset right andintends to settleeitheronanet areinstruments classifiedasequity recognised directlyinequity. Financial instrumentsare offset classified asaliability, are asexpenseorincome. to holdersoffinancial Distributions reported Interest, dividends, arrangement. gainsandlosses relatingcontractual to afinancialinstrument Financial instrumentsare inaccordance classifiedasliabilitiesorequity withthesubstanceof provisionsto thecontractual oftheinstrument. Financial instrumentsare recognised inthebalancesheetwhenGroup hasbecomeaparty Financial instruments thesale. to make estimated costsofcompletionandtheestimated costsnecessary courseofbusinesslessthe Net realisable intheordinary valueistheestimated sellingprice usingtheweighteddetermined average method. costsofpurchase. Cost comprises realisable adequate valueafter provision for damaged, obsolete andslow moving items. Cost is Trading inventories, food andbeverages andconsumablesare stated atlower ofcostandnet costs. associated withtheacquisitionofland, ofcommon directcostsandappropriate proportions stocksProperty are stated atlower ofcostandnetrealisable value. cost Cost comprises Inventories effective interest method. loansandborrowings costusingthe bearing are subsequentlymeasured atamortised received costs. transaction After initialrecognition, lessdirectlyattributable interest All loansandborrowings are initiallyrecognised atthefairvalueofconsideration Interest bearingloansandborrowings received. goods andservices Trade payables are stated atthefairvalueofconsiderationto bepaidinthefuture for Trade payables outstanding amountsasatthebalancesheetdate. off whenidentified. Anestimate ismade fordoubtfuldebtsbasedona ofall review Trade receivables atanticipated are realisable carried values. Baddebtsare written Trade receivables amount isrecognised intheprofit orloss. disposal ofaninvestment, thedifference netdisposalproceeds between and itscarrying lossesare recognisedImpairment for alldeclinesinvalueotherthantemporary. On controlled entitiesandinvestment are losses. stated properties atcostlessimpairment investmentsNon-current otherthaninvestments insubsidiaries, associates, jointly investments non-current Other insignificantrisk ofchangesinvalue, netofoutstandingbank overdrafts. highlyliquidinvestments term whichhave depositatcallandshort an hand andatbank, For ofthecashflow statements, thepurposes cashandequivalentsincludeon Cash andcashequivalents 31 December 2009 December 31 2.

2.2 Significant Accounting Policies (contd.) (l) (k) ofsignificant accountingSummary policies(contd.) (ii) (i) leases are classifiedasoperatingleases. of landandbuildingsare considered separately for ofleaseclassification.Allother thepurpose lease inthesameway asleasesofotherassetsandthelandbuildingselementsalease rewards incidentto ownership. Leases oflandandbuildingsare classifiedasoperatingorfinance A leaseisrecognised asafinanceleaseifittransfers substantially to theGrouprisks and allthe Leases (vi) Financial instruments (contd.) straight-line basisover oftherelevant theterm lease. Operating leasepayments are recognised asanexpenseintheincomestatement ona Operating leases property, inNote 2.2(e). plantandequipmentasdescribed forThe depreciation leasedassetsisinaccordance policy withthatfor depreciable accounting period. rate ofchargea constantperiodic ontheremaining balanceoftheobligationsfor each expense intheincomestatement over oftherelevant theterm leasesoasto produce leasing commitmentsandthefairvalueofassetsacquired, are recognised asan outstanding liability. Finance costs, whichrepresent thedifference the between total Lease thefinancecostsand ofthe between reduction payments are apportioned Company’s incremental borrowing rate isused. is theinterest the rate to implicitinthelease, otherwise, determine; whenitispracticable calculating thepresent valueoftheminimumleasepayments, used thediscountfactor losses. isincludedinthebalancesheetasborrowings.The corresponding liability In inception oftheleases, lessaccumulated depreciation andany accumulated impairment the lower oftheirfairvaluesandthepresent valueoftheminimumleasepayments atthe Assets acquired by way ofhire purchase orfinanceleasesare stated atanamountequal to Finance leases interest are expenseasandwhenthey incurred intheincomestatement. preference dividends. The corresponding dividendsonthoseshares are recognised as option oftheshareholders andconfer on theshareholders to acumulative theright Preference shares areifitis classifiedasliability redeemableonaspecificdate oratthe are inwhichthey intheperiod declared.equity dividends are atoptionoftheissuer. instrumentsare Dividendsonequity recognised in Preference shares areifthere classifiedasequity isnofixed term for redemptionand have beenavoided. whichwould otherwise transaction to theequity directly attributable costs onlythoseincrementalequity, costscomprise external transaction netoftax.Equity are transaction accounted for from costsofanequity The asadeduction transaction are inwhichthey intheperiod declared.equity shares areOrdinary classifiedasequity. shares are Dividendsonordinary recognised in instrumentsEquity Notes to the FinancialStatements the to Notes 31 December 2009 December 31 183 Sunway City Berhad Annual Report 2009 184

Sunway City Berhad Annual Report 2009

2. FinancialStatements the to Notes

2.2 Significant Accounting Policies (contd.) (o) (n) (m) ofsignificant accountingSummary policies(contd.) used, theincrease intheprovision dueto thepassageoftimeisrecognised asfinancecost. tax rate thatreflects, where appropriate,risks specific totheliability. the Where discountingis the effectismaterial, ofthetimevaluemoney provisions are discounted usingacurrent pre- reviewed ateachbalancesheetdate andadjusted to reflectthecurrent bestestimate. Where to settletheobligation,andareliable estimate oftheamountcanbemade. Provisions are and itisprobable thatanoutflow of resources embodyingeconomicbenefitswillbe required Provisions are recognised whentheGroup hasapresent obligationasaresult ofapastevent Provisions for liabilities cost ofthecombination. the netfairvalueofacquiree’s identifiableassets, liabilitiesandcontingent over the tax isincludedintheresulting goodwillortheamountofany excess oftheacquirer’s interest in fromor whenitarises abusinesscombinationthatisanacquisition,inwhichcasethedeferred recognised directlyinequity, inwhichcasethedeferred taxisalsorecognised directlyinequity, included intheprofit orloss for theperiod, except fromwhichis whenitarises atransaction atthebalancesheetdate.enacted Deferred taxisrecognised asincomeoranexpenseand is realisedsettled, ortheliability basedontaxrates thathave orsubstantively beenenacted Deferred taxismeasured atthetaxrates thatare whentheasset to expected apply intheperiod affects neitheraccountingprofitat thetimeoftransaction, nortaxable profit. whichisnotabusinesscombinationand initial recognition inatransaction ofanassetorliability differencerecognised from ifthetemporary arises goodwillornegative goodwillorfrom the differences, unusedtaxlossesandcredits canbeutilised.Deferred taxisnot that itisprobable thattaxableprofit willbe temporary available againstwhichthedeductible differences, temporary all deductible unusedtaxlossesandcredits to theextent recognised differences for alltaxabletemporary anddeferred taxassetsare recognised for Deferred taxisprovided for, principle, deferred method. usingtheliability In taxliabilitiesare measured usingthetaxrates thathave atthebalancesheetdate. beenenacted amountofincometaxesthe expected payable inrespectofthetaxableprofit for the year andis taxontheprofit orloss Income for thecurrent anddeferredyear comprises tax. Current taxis Income tax All otherborrowing costsare recognised inprofitare inwhichthey orlossintheperiod incurred. borrowing costseligible for capitalisation. of specificborrowings pendingtheirexpenditure from onqualifyingassetsisdeducted the ready for investment theirintended useorsale. onthetemporary Investment incomeearned use orsale, are addedto thecostofthoseassets, untilsuchtimeastheassetsare substantially oftimeto getready asubstantialperiod which are for take assetsthatnecessarily theirintended ofqualifyingassets,Borrowing to theacquisitionorconstruction costsdirectlyattributable Borrowing costs 31 December 2009 December 31 2.

2.2 Significant Accounting Policies (contd.) (q) (p) ofsignificant accountingSummary policies(contd.) (i) Foreign currencies (iii) (ii) (i) Employee benefits also theCompany’s currency. functional The consolidated currency”). financialstatements arefunctional presented inRM,whichis economicenvironment operates (“the inwhichtheentity oftheprimary the currency intheGroupThe individualfinancialstatements ofeachentity are measured using Functional andpresentation currency or untiltheoptionexpires, uponwhichitwillbetransferred directly to retained profits. untiltheoptionisexercised,reserve uponwhichitwillbetransferred to share premium, over theremaining vesting period. amountisrecognisedThe equity inthe share option of original estimates, ifany, inthe profit orloss, andacorresponding adjustment to equity toexpected becomeexercisable on vesting recognises date. oftherevision the impact It each balancesheetdate, theGroup revises itsestimates ofthenumberoptionsthatare about thenumberofoptionsthatare to expected becomeexercisable onvesting date. At vesting vesting conditionsare conditions. includedinassumptions Non-market market conditions uponwhichtheoptionswere granted butexcludingofany non- theimpact of share optionsismeasured atgrant into date, account,ifany, taking vesting themarket into accounttheprobabilitythatoptionswillvest. andtaking period The fairvalue a corresponding over increase withinequity inthesharevesting option reserve fair valueofshare optionsgranted to employees isrecognised asanemployee costwith 2006,thetotal 2006andshareyet optionsgranted vested 1January byafter 1January For 2005butbefore share optionsgranted 2005andnot 31December 1January after credited whentheoptionsare to equity exercised. the Company. The proceeds received costsare netofany transaction directlyattributable based compensationplan,allows theGroup’s employees shares to acquire of ordinary The Employees’ Sunway Berhad City Share OptionScheme, anequity-settled,share- compensation Share-based schemes. to theirrespective contributions countries’ alsomake subsidiaries pension statutory to theEmployeescontributions Provident Fund oftheGroup’s (“EPF”). Some foreign in theprofit orlossasincurred. As required by law, such Malaysia make companiesin current andpreceding financial years. are Suchcontributions recognised asanexpense sufficient assets to pay allemployeeservices inthe benefits relating toemployee ifany contributions ofthefundsdonothold obligationtoor constructive pay further Group pays fixed into separate contributions entitiesorfundsandwillhave nolegal plansare benefitplansunderwhichthe contribution post-employment Defined Defined contribution plans sick leave are recognised whentheabsencesoccur. non-accumulatingcompensated term absencessuchas compensated absences. Short are renderedwhen services by employees thatincrease theirentitlementto future accumulating compensated absencessuchaspaidannualleave are recognised are renderedin theyear inwhichtheassociated services by term employees. Short Wages, are contributions recognised salaries, bonusesandsocialsecurity asanexpense term benefits Short Notes to the FinancialStatements the to Notes 31 December 2009 December 31 185 Sunway City Berhad Annual Report 2009 186

Sunway City Berhad Annual Report 2009

2. FinancialStatements the to Notes

2.2 Significant Accounting Policies (contd.) (r) (q) ofsignificant accountingSummary policies(contd.) must alsobemetbefore revenue isrecognised: the Group andthe revenue canbereliably measured. The following specific recognition criteria isrecognisedRevenue thatitisprobable to theextent thattheeconomicbenefitswillflow to Revenue recognition (iii) (ii) Foreign currencies (contd.) - - - translated into RMasfollows: different from (RM)oftheconsolidated thepresentation financialstatements currency are The results andfinancialpositionof foreign operationsthathave currency afunctional Foreign operations are includedinprofit orloss for theperiod. atfairvalue Exchange items carried differences onthetranslation ofnon-monetary arising statements ortheindividualfinancialstatements ofthe foreign operation, asappropriate. item, are recognised ofthemonetary inprofitcurrency orlossinthe Company’s financial oftheCompany’sthat form part netinvestment inforeign operation,regardless of the aretime they recognised inprofit orloss. Exchangeitems differencesarising onmonetary untilthedisposalofforeign withinequity translation reserve operations, atwhich Group’s netinvestment inforeign operationaredirectlyto theforeign taken currency foreign ofthe items that part operation.Exchangeform diffaerences onmonetary arising oftheGroup’s items that differences part form onmonetary arising netinvestment in items, are includedinprofitof monetary orloss for the year except for exchange Exchange items, differences andonthetranslation onthesettlementofmonetary arising measured costinaforeign ofhistorical interms are nottranslated. currency items thatareprevailing onthedate whenthefairvaluewasdetermined. Non-monetary at fairvaluethatare denominated inforeign currencies are translated attherates translated items attherates carried prevailing onthebalancesheetdate. Non-monetary items denominatedAt inforeign each balancesheetdate, monetary currencies are currencies usingtheexchangefunctional rates prevailing atthedates ofthetransactions. (foreignother thantheentity’scurrency functional currencies) are recorded inthe preparing thefinancialstatements oftheindividualentities,incurrencies In transactions Foreign transactions currency reserve withinequity.reserve All resulting exchange differences areto the taken foreign translation currency and the transactions; exchange rates for theyear, whichapproximates theexchange rates atthedates of andexpensesforIncome eachincomestatement are translated ataverage rate prevailing atthebalancesheetdate; Assets andliabilitiesfor eachbalancesheetpresented are translated attheclosing 31 December 2009 December 31 2.

2.2 Significant Accounting Policies (contd.) (s) (r) ofsignificant accountingSummary policies(contd.) profit orloss. amountandfairvalue lesscoststo sell. Anyat thelower differences ofcarrying are includedin benefits assets, financialassetsand inventories) are measured inaccordance withFRS5thatis for assets(other thaninvestment sale, non-current deferred properties, taxassets, employee inaccordance withapplicableFRSs. is brought up-to-date Then, oninitialclassificationasheld beforeImmediately classificationasheld for sale, assets themeasurement ofthenon-current present onlyto thatare terms condition subject usualandcustomary. met onlywhenthesaleishighlyprobable andtheassetisavailable for immediate saleinits throughratherthancontinuinguse.principally asaletransaction This condition isregarded as amountwillbe assetsarerecovered classifiedasheld Non-current for saleiftheircarrying assetsheldforNon-current sale (vi) (v) (iv) (iii) (ii) (i) Revenue recognition (contd.) members uponexecution andrenewal ofthemembershipagreements. Annual maintenance fees are recognised ontheaccrualbasisbasedfees chargeable to membership fees which are recognised over themembershipperiod. execution ofthemembershipagreements and the remaining 30%istreated asdeferred 70% oftheenrolment fees from membersare recognised asincomeuponthe Time share revenue feesClub subscription are recognised ontheaccrualbasis. Club subscriptionfees are sold. Entrance fees for collected ofenjoyment offacilitiesare rights recognised whentickets are performed. services taxes isrecognised anddiscountsaswhen revenue from netofservice saleofservices fromRevenue saleofgoodsisrecognised basedoninvoiced valueofgoodssoldand andrights ofgoods, ofenjoymentSale services recognised onreceipt basis. using theeffective interest method, unless recoverability isindoubt,whichcase, itis depositsandadvancesisrecognised term Interest incomefrom ontheaccrualbasis, short Dividend incomeisrecognised whentheGroup’s to receive right payment isestablished. Investment income basis unlessrecoverability isindoubt,whichcase, itisrecognised onreceipt basis. incomeincludingthosefromRental investment isrecognised properties, ontheaccrual Rental income inventories.of theconsiderationdue, associated costsorpossiblereturn ofproperty not recognised where to theextent there areregarding significant uncertainties recovery upon transfer ofsignificantrisks and rewards of ownership to thepurchasers.Revenue is inventories from isrecognisedRevenue saleoflandandproperty netofdiscountand inNote 2.2(h)(ii). described isaccounted fromRevenue for saleofproperties by thestageofcompletionmethodas underdevelopment, inventories ofproperties Sales landandproperty Notes to the FinancialStatements the to Notes 31 December 2009 December 31 187 Sunway City Berhad Annual Report 2009 188

Sunway City Berhad Annual Report 2009

FRS 4 2. FinancialStatements the to Notes

2.3 Significant Accounting Policies (contd.) TR i-3 IC Interpretation 14 IC Interpretation IC Interpretation 13 IC Interpretation IC Interpretation 11 IC Interpretation IC Interpretation 10 IC Interpretation IC Interpretation 9 IC Interpretation Improvements to FRSs Interpretation 9 Interpretation FRS7andIC Amendments to FRS139, Amendments to FRS132 Amendments to FRS7 Amendments to FRS2 andFRS127 Amendments to FRS1 Amendments to FRS1 FRS 139 FRS 123 FRS 101 FRS 7 Effective 2010: after 1for financialperiodsbeginningJanuary onor FRS 8 Effective after 1July2009: for financialperiodsbeginning onor wereInterpretations issuedbutnotyet effective andhave notbeen applied by theGroup and the Company: At ofthesefinancialstatements, the date ofauthorisation the following FRSs, Amendments to FRSsand Standards andInterpretations issuedbutnotyet effective Financial Institutions Presentation ofFinancial Statements ofIslamic theirInteraction Funding Minimum Requirements and FRS 119- BenefitThe LimitonaDefined Asset, Customer Loyalty Programmes FRS 2-Group and Treasury Share Transactions Interim Financial Reporting andImpairment FinancialInterim Reporting Reassessment ofEmbeddedDerivatives Reassessment Improvements to FRSs (2009) Derivatives Dislosures ofEmbedded andReassessment Financial Recognition andMeasurement, Instruments: Financial Presentation Instruments: Improving Disclosures aboutFinancial Instruments Cancellations Payment:Share-based Vesting Conditions and Entity orAssociate Entity Cost ofan Investment inaSubsidiary,Controlled Jointly andConsolidated andSeparate Financial Statements: First-time Adoption Standards ofFinancial Reporting for First-time Adopters Limited Exemption from Comparative FRS7Disclosures Financial Recognition andMeasurement Instruments: Borrowing Costs Presentation ofFinancial Statements (revised) Financial Disclosures Instruments: Insurance Contracts Insurance Operating Segments 31 December 2009 December 31 2.

FRS 1 2.3 Significant Accounting Policies (contd.) the financialpositionor results oftheGroup. segments. ofthereportable As thisisadisclosure standard,performance thereon will be noimpact operating decisionmaker”, decisionsontheallocationofresources whomakes andassessesthe result, theGroup’s to the reporting willbebasedontheinternal segmental reporting external “chief segment information ispresented onasimilarbasis to purposes. thatused for As a reporting internal FRS 8replaces FRS 114 FRS 8:Operating Segment interests.future with non-controlling acquisition orlossofcontrol andtransactions ofsubsidiaries The changesby FRS3(revised) andFRS127(amended)willbeappliedprospectively andonlyaffect as well aslossofcontrol ofa subsidiary. loss. Furthermore, theamendedStandard changestheaccountingfor lossesincurred by thesubsidiary in equity. Therefore, willnolongergive to suchtransaction goodwill, rise norwillitgive to a gainor rise control) isaccounted asowners for andto withowners intheircapacity berecorded asatransaction FRS 127(amended)requires (withoutlossof thata changeintheownership interest ofasubsidiary future results. reported the amountofgoodwillrecognised, results thatanacquisitionoccursand thereported intheperiod a contingentconsiderationandbusinesscombinationsachieved instages. These changeswillimpact interest, theaccountingfor costs, transaction theinitialrecognition andsubsequentmeasurement of 1July2010. onorafter occurring These includechangesthataffect thevaluationofnon-controlling FRS 3(revised) introduces anumber ofchangesto theaccountingfor businesscombinations Statements (amended) FRS 3:BusinessCombinations (revised) andFRS127: Consolidated andSeparate Financial initial application: to have nosignificantto the financialstatements impact ofthe Group andthe Company upontheir below, described the respective financialperiod. Unlessotherwise thesepronounments are expected The Group andtheCompany planto adopttheabove pronounments becomeeffective whenthey in 17 IC Interpretation 16 IC Interpretation 15 IC Interpretation 12 IC Interpretation 9 ICInterpretation Amendments to Amendments to FRS138 Amendments to FRS5 Amendments to FRS2 FRS 127 FRS 3 Effective after 1July2010: for financialperiodsbeginning onor Standards andInterpretations issuedbutnotyet effective (contd.) Notes to the FinancialStatements the to Notes 2004 : Segment Reporting and requires a : Segment Reporting ‘management approach’, underwhich Assets to Owners ofNon-cash Distributions Hedges ofaNetInvestment inaForeign Operation Agreements for Estate ofReal theConstruction Concession Arrangements Service ofEmbeddedDerivatives Reassessment AssetsIntangible Assets HeldforNon-current SaleandDiscontinuedOperations PaymentShare-based (amended) Consolidated andSeparate Financial Statements Business Combinations (revised) First-time Adoption Standards ofFinancial Reporting 31 December 2009 December 31 189 Sunway City Berhad Annual Report 2009 190

Sunway City Berhad Annual Report 2009

2. FinancialStatements the to Notes

2.3 Significant Accounting Policies (contd.) process of thisamendment. ofassessingtheimpact difference thosefairvaluesis between recognised in retained earnings. The Group iscurrently inthe relatedliability to classified asafinanceleaseattheirfairvaluesonthatdate; alandleasenewly any andcircumstancesfacts existingonthedate itadoptstheamendments;and recognise theassetand the transitionalprovision, theGroup to ispermitted reassess leaseclassification onthebasisof statements whichwillbeappliedretrospectively uponinitialapplication.However, inaccordance with as financeleases, theGroup shall recognise inthefinancial acorresponding assetand liability finance leases. For thoselandelementheldunderoperatingleasesthat are required to be reclassified the potential implicationasaresult ofthereclassification ofitsunexpired landleasesasoperatingor FRS 117Leases: ontheclassificationofleaseslandandbuildings. Clarifies The Group isstillassessing rental are ceasesand they heldfor sale. are rental, courseofbusinessafter routinely soldintheordinary are transferred when to inventory value lesscoststo sell”. thatitems ofproperty, alsoclarifies plantandequipmentheld It for rental that FRS 116Property, Plant andEquipment: The amendmentreplaces theterm “net sellingprice” with “fair Amendments to FRSs ‘Improvements to FRSs(2009)’ from to thefinancialstatements disclosingthepossibleimpact upontheinitialapplication. accordance withtherespectiveIn transitionalprovisions, theGroup andtheCompany are exempted itemsto inthefinancialstatements. theway ofpresenting certain components oftheGroup’s andCompany’s andpossiblechanges financialpositionandperformance, and qualitative oftheGroup’s andCompany’s exposure to risks, enhanceddisclosure regarding financial instruments. The Standard isconsidered to result inincreased disclosures, bothquantitative FRS 7Financial Disclosures Standard is anew Instruments: thatrequires disclosures new inrelation to financial instrumentsare inFRS7: Instruments: Disclosures.Financial in FRS132:Financial Presentation Instruments: andtherequirements for disclosinginformation about and sellnon-financialitems.Requirements for presenting information aboutfinancialinstruments are forprinciples recognising financialassets, tobuy andmeasuring financialliabilitiesandsomecontracts The Standard new onFRS139:Financial Recognition andMeasurement establishes Instruments: Measurement, FRS7:Financial Disclosures Instruments: Disclosures andAmendments to FRS139:Financial Recognition Instruments: and FRS 139:Financial Recognition Instruments: andMeasurement, FRS7:Financial Instruments: financial positionand results oftheGroup andthe Company. reclassification ofitems inthefinancialstatements. Thisrevised FRSdoesnot have onthe any impact comparativefollowing period earliest achangeinaccountingpolicy, ofanerror orthe thecorrection addition,astatementthe format offinancialpositionis to adopt.In required atthebeginning ofthe expense, statements. eitherinonesinglestatement, linked orintwo The Group iscurrently evaluating expense recognised intheincomestatement, together withallotheritems ofrecognised incomeand Standard alsointroduces thestatement ofcomprehensive income:presenting allitems ofincomeand areowner changesinequity presented asasinglelinelabelledtotal comprehensive income. The withowners. willnowstatement includeonlydetailsoftransactions Allnon- ofchangesinequity The revised changesinequity. FRS101separates owner andnon-owner Therefore, theconsolidated FRS 101:Presentation ofFinancial Statements (revised) Standards andInterpretations issuedbutnotyet effective (contd.) 31 December 2009 December 31 2. Amendments to FRSs ‘Improvements to FRSs(2009)(contd.)

2.3 Significant Accounting Policies (contd.) 2.4 future ofdevelopment cost. salesandfluctuation of IFRIC15cannotbereasonably of surrounding estimated, theexpectation dueto the uncertainties to recognise onacompletionbasis. development therevenue activities from property The impact delivery, progresses. andnotcontinuouslyasconstruction applyingIFRIC15,theGroup isrequired In UndertheSPA, Act. Development andrewards therisks ofownership oftheassetpassto thebuyer at oftheSalesandPurchase theterms Malaysia, In Agreement (“SPA”) are by dictated theHousingand design ofthereal estate isanagreement for thesaleofgoodswithinscopeFRS118. agreement for ofreal theconstruction estate inwhichbuyers have to onlylimited influencethe ability specifically negotiated Incontrast,an ofanassetoracombinationassets.for theconstruction thatis,FRS111 applieswhentheagreement contract, acontract meetsthedefinitionofaconstruction orFRS118Revenue. Contracts within thescopeofFRS111Construction Futhermore, provides theInterpretation guidanceonhow to whetheranagreement determine is adeveloper andabuyerbetween isreached before ofthereal theconstruction estate isincompleted. revenue andrelated expensesfrom thesaleofareal estate unitshouldberecognised ifanagreement 1July2010. on orafter istoThe Interpretation beappliedretrospectively. whenandhow clarifies It 2010andbecomeseffective for financial 15wasissuedon8January yearsbeginningIC Interpretation IC Interpretation 15:Agreements for Estate theConstruction ofReal be appliedprospectively. intheStandardalso includeschangesinterminology to beconsistent withFRS108. The changewill complete. The Group haspreviously accounted for suchassetsusingthecostmodel. The amendment is willbemeasured orconstruction construction atcostuntilsuchtimeasfairvaluecanbedetermined ismeasured fairvaluecannotbereliably atfairvalue. determined, If property theinvestment under isclassifiedasinvestmentinvestment property. property Where thefairvaluemodelisapplied, such ordevelopment for underconstruction Property future useasan FRS 140Investment Property: Standards andInterpretations issuedbutnotyet effective (contd.) (a) Significant accounting estimates andjudgements services are so significant that a property doesnotqualify asinvestment are property. sosignificant thata property services basisto whetherancillary determine purposes. Judgementis madeonanindividualproperty orfor isheldfor administrative useintheproductionorsupplyofgoodsservices portion could notbesoldseparately, onlyifaninsignificant isaninvestment property the property under afinancelease),theGroup separately. would account for theportions If portions couldbesold separately (or leasedoutseparately these portions administrative purposes. If orfor thatisheldfor useintheproductionorsupplyofgoodsservices another portion rentals thatisheldto earn orfor capitalappreciation aportion comprise and properties Some rentals orfor capitalappreciation orboth. held to earn qualifiesasan investment isaproperty Investment property. property property judgementwhethera basedonFRS140inmaking criteria The Group hasdeveloped certain Classification between investment and property, properties plant andequipment financial statements. accounting policiesthathasthemostsignificant effect ontheamounts recognised inthe The following isthejudgementmadeby management intheprocess ofapplyingtheGroup’s Critical judgement madeinapplyingaccounting policies Notes to the FinancialStatements the to Notes 31 December 2009 December 31 191 Sunway City Berhad Annual Report 2009 192

Sunway City Berhad Annual Report 2009

2. FinancialStatements the to Notes

2.4 Significant Accounting Policies (contd.) (b) Significant accounting estimates andjudgements (contd.) (iv) (iii) (ii) (i) financial year are amountsofassetsandliabilitieswithinthenext discussedbelow.carrying at thebalancesheetdate, thathave asignificantadjustment risk ofcausingamaterial to the sources thefuture assumptionsconcerning ofestimationuncertainty andotherkey The key Key sources ofestimation uncertainty financial statements. RM71,322,000 (2008:RM154,608,000). Further details are provided for inNote 37to the RM90,688,000) andtheunrecognised taxlossesandcapitalallowances oftheGroup is of recognised taxlossesandcapitalallowances oftheGroup isRM133,024,000(2008: with future value taxplanningstrategies. As 2009,thetotal at31December carrying recognised, timingandlevel offuture based uponthelikely taxableprofits together judgement isrequired to theamountofdeferred determine taxassetsthatcanbe which thelossesandcapitalallowances canbeutilised. Significant management allowances thatitisprobable to the extent thattaxableprofit willbe available against Deferred taxassetsare recognised for capital allunusedtaxlossesandunabsorbed Deferred taxassets of specialists. the judgement,Group andby evaluatesrelying basedonpastexperience onthework revenue andcosts, aswell astherecoverability making ofthedevelopment projects. In development costincurred, development theestimated totalof theproperty property Significant judgementis required thestageofcompletion,extent indetermining to development date costs. bearto theestimatedperformed total property development costsincurred for work thatproperty bydetermined theproportion statement by usingthestageofcompletionmethod. The stageofcompletionis The Group development revenue recognises andexpensesintheincome property developmentProperty depreciation charges onsuchassetscouldberevised. theeconomicusefullives andtheresidualimpact valuesoftheseassets, andhencefuture rates leveland economicdevelopment ofusage,could Changes inexpected occupancy respective appliedinthevarious industries. factors equipment are alsoestimated basedoncommonlife andcommercial expectancies The usefullives andresidual values ofothercomponentsproperty, plantand are 40years between toproperties 48years. appliedinthehotel industry. expectancies The remaining usefullives oftheGroup’s hotel years from thedate ofcompletionorfrom thedate ofacquisition,basedoncommonlife useful lives. estimates to theusefullives Management be50 ofthesehotel properties isdepreciatedThe costofhotel properties onastraight-line basisover itsremaining Depreciation ofproperty, plant andequipment Further detailsare disclosedinNote 22to thefinancialstatements. 2009isRM23,035,000(2008:RM23,027,000). amount ofgoodwillasat31December discount rate inorder to calculate thepresent valueofthosecashflows. The carrying an estimate future oftheexpected cashflows from the CGU andalso to chooseasuitable amountrequiresgoodwill isallocated. managementto Estimatingavalue-in-use make units(“CGU”) ofthecash-generating requires to which anestimationofthevalue-in-use The Group whethergoodwillisimpaired determines atleastonanannualbasis. This ofgoodwill Impairment 31 December 2009 December 31 3. 2.

Revenue 2.4 Significant Accounting Policies (contd.) controlled entities Dividend incomefrom jointly 40,576 Dividend incomefrom subsidiaries feesTime sharing 34,027 feesSubscription andothers Sale ofgoodsandservices 693,884 income Rental 494,648 leaseholdland Sale oflongterm stocks Sale ofproperty underdevelopment Sale ofproperties (b) Significant accounting estimates andjudgements (contd.) (v) Key sources (contd.) ofestimation uncertainty Note 26to thefinancial statements. and RM135,257,000(2008:RM139,638,000)respectively. Further detailsare provided for in receivables oftheGroup 2009are asat31December RM160,461,000(2008:RM209,323,00) valueofthereceivables. amountsoftradereceivablescarrying andother The carrying isdifferentthe expectation from theoriginal estimate, suchdifference the willimpact information relating ofthedebtors toto theability allpertinent settlethedebts. Where ofirrecoverableassessing theextent debts, themanagementhasgiven dueconsideration amountsmay notberecoverable.changes incircumstances indicate thatthecarrying In recoverability ofreceivables. Provisions are appliedto receivables where events or The Group allowance for makes doubtfuldebtsbasedonanassessmentofthe Allowance for doubtfuldebts Notes to the FinancialStatements the to Notes 31.12.2009 16097 13456 1683 144,478 136,833 1,314,556 1,600,967 1.7.2008 RM'000 4996 2082 902 5,382 9,052 390,959 200,882 620,872 409,956 1,8 14,955 7,163 15,182 13,155 37,820 934 6,713 9,334 to - - Group 30.6.2008 1.7.2007 RM'000 to - - 3,2 27,400 34,825 71,120 - 58,929 - 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 Company to - - - - - 30.6.2008 1.7.2007 RM'000 to - - - - - 193 Sunway City Berhad Annual Report 2009 194

Sunway City Berhad Annual Report 2009 5. 4. FinancialStatements the to Notes Other Income Other Cost ofSales Included inotherincomeare thefollowing:Included debtsnolonger required -others ofallowance forWrite-back doubtful foreignRealised exchange gain -others -equipment income Rental Liquidated damagesreceivable -others -from subsidiaries Interest income ondisposalofbiologicalGain assets plantandequipment ondisposalofproperty,Gain Forfeiture income operationsandothers business Cost oftime sharing operations -costoftravel andtour business -costofhealthcare operations -costofhotel operations operations -costofthemepark rendered -costofservices sold Cost ofgoodsandservices Cost oflandsold stocks sold Cost ofproperty -(over)/under recognised year inprior -current period/year development costs(NoteProperty 24) properties (Note 15) properties Fair valueadjustments ofinvestment 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 RM'000 RM'000 5633 6937 2,5 29,240 24,959 629,357 596,393 7392 3186 6,807 311,816 733,992 28,124 22,580 460,146 309,105 1,1 ,3 36 2,342 7,239 1,719 12,411 14,470 17,713 913 32,404 39,833 41,632 2,393 69,545 7,208 68,850 8,532 99,932 18,801 16,642 33,354 878 5,486 1,701 8,748 2,045 6,122 8,643 3,519 1,252 56 117 526 (9 29 (4 203 (14) 249 (19) to to 2 - 3,504 - 222 - - Group Group 30.6.2008 30.6.2008 (restated) 1.7.2007 1.7.2007 RM'000 RM'000 to to - - - 26,653 38,976 - 115 - 31.12.2009 31.12.2009 1.7.2008 1.7.2008 RM'000 RM'000 Company Company to to ------217 ------30.6.2008 30.6.2008 (restated) 1.7.2007 1.7.2007 RM'000 RM'000 to to 1 ------6. Finance Costs - Senior Notes -Senior -bonds ofdiscounton Amortisation Notes -Senior -bonds loans -term notes term -commercial papersandmedium -revolving credits -bankoverdrafts balances -related party -inter-company balances arrangements -hire purchase andfinancelease Interest expense shareholders ofsubsidiaries minority preference shares payable to Dividends oncumulative redeemable Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM'000 1470 7,3 588 43,703 65,898 76,632 104,780 2,9 ,2 023 9,124 6,786 20,293 19,033 8,935 9,124 21,817 35,767 20,293 19,033 53,408 21,828 402 243 402 2,413 86 4,062 2,413 86 4,062 784 1,397 60 3,175 23 34 23 336 253 391 374 344 273 to - 1,346 1,781 - 5,559 - - - Group 30.6.2008 1.7.2007 RM'000 to - 1,5 4,144 10,452 - 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 Company to - - 1,781 - - - - 30.6.2008 1.7.2007 RM'000 to - - - - 195 Sunway City Berhad Annual Report 2009 196

Sunway City Berhad Annual Report 2009 7. FinancialStatements the to Notes Profit/(Loss)Before Tax The following atprofit/(loss) amountshave before beenincludedinarriving tax: -amountduefrom subsidiaries -biological assets -property, plantandequipment Written offof -investment properties -property, plantandequipment -subsidiaries -associate Loss ondisposalof Liquidated damagespayable investment inasubsidiary losseson ofimpairment Reversal -inventories -investments insubsidiaries losseson Impairment -unrealised -realised Foreign exchange (gain)/loss -biological assets(Note 14) (Note 13) -property, plantandequipment Depreciation of off Bad debtswritten -others -duefrom subsidiaries Allowance for doubtfuldebts -duefrom subsidiaries ofallowanceReversal for doubtful debts payments (Note 16) ofprepaid landlease Amortisation -otherservices -(over)/underprovision year inprior audits -statutory Auditors' remuneration (Note 9) directors'Non-executive remuneration Employee benefits expense(Note 8) 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 2934 1303 5,3 29,961 50,839 163,073 269,314 8,7 409 198 1,244 1,948 34,099 81,872 (,6) ,4 40 742 (400) 2,243 (1,363) (1,943) 1,505 4,056 3,813 13 3 18 111 35 350 143 170 148 75 118 212 250 402 524 40 77 78 717 400 90 73 27 138 137 207 320 713 137 930 320 (9 3 (40) 39 (19) to - 59 499 - - 518 - - - - - Group 30.6.2008 1.7.2007 RM'000 to - - - - 40,183 - 3,787 - (1,494) 1,148 - 151,979 - - (20,630) - 31.12.2009 1.7.2008 RM'000 Company to 3 10 3 ------4,200 - 30.6.2008 1.7.2007 RM'000 to ------

8. 7. respectively as further disclosedinNote 9. respectively asfurther remuneration amountingto RM12,940,000(2008:RM8,355,000)andRM7,998,000RM5,506,000) inemployee benefitsexpenseoftheGroupIncluded andofthe Company are executive directors’ Employee Expense Benefits Profit/(Loss)Before Tax (contd.) Other benefits Other (Note 43) Share optionsgranted underESOS plan toContributions definedcontribution contributions security Social Wages andsalaries (Note 15) properties Fair valueadjustmentsofinvestment -others -equipment,plantandmachinery -landandbuildings expense Rental Notes to the FinancialStatements the to Notes 31.12.2009 31.12.2009 1.7.2008 1.7.2008 RM'000 RM'000 2934 1303 5,3 29,961 50,839 163,073 269,314 1868 9,0 090 15,472 30,910 97,203 178,628 6,4 837 1,4 8,341 14,642 2,643 48,337 5,033 65,644 12,825 22,712 230 130 24 147 254 1,350 2,330 265 134 1,432 260 2,761 181 839 740 1,281 1,525 1,940 543 to to - 3,358 - Group Group 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to - 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 RM'000 RM'000 Company Company to to - - 3,358 - 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to - - 197 Sunway City Berhad Annual Report 2009 198

Sunway City Berhad Annual Report 2009

9. FinancialStatements the to Notes follows: The detailsofremuneration receivable by directors oftheCompany thefinancialperiod/yearare during as Directors’ Remuneration benefits-in-kind (Note 49) benefits-in-kind Total directors' remuneration including benefits-in-kind Estimated valueof money Total directors' remuneration Other emoluments Other Fees (Note 7): directors'Non-executive remuneration emoluments Other (Note 8): Executive directors' remuneration Other emoluments Other Fees Non-executive: Estimated valueofbenefits-in-kind money plan contribution Defined Bonus andotheremoluments Salaries Executive: 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 1,2 ,0 ,2 5,960 8,725 8,905 5,643 14,020 8,318 8,492 13,260 1,4 ,5 ,9 5,506 7,998 8,355 12,940 70 43 47 317 407 137 413 320 760 137 320 26 12 26 102 276 102 276 4 5 4 35 44 35 44 to Group 30.6.2008 1.7.2007 RM'000 to 31.12.2009 31.12.2009 1.7.2008 1.7.2008 RM'000 RM'000 Group/Company 164 1,720 3,216 1,674 5,467 875 5,960 8,725 5,823 8,405 26 102 276 317 570 407 857 4 35 44 Company to to 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to 10. 9. Income Tax Expense within thefollowing bandsisanalysed below: The number ofdirectors oftheCompany whosetotal remuneration thefinancialperiod/year during fell Directors’ Remuneration (contd.) Total incometaxexpense Underprovision years inprior to Relating changesintaxrates differences reversal oftemporary to Relating origination and Deferred tax(Note 37): Foreign tax incometax Malaysian Under/(over)provision years: inprior Foreign tax incometax Malaysian Current incometax: Below RM350,000 Executive directors: RM400,001-RM450,000 RM800,001-RM850,000 RM700,001-RM750,001 RM450,001-RM500,000 RM3,400,001-RM3,500,000 RM1,100,001-RM1,150,001 Below RM50,000 directors:Non-executive RM4,800,001-RM4,850,001 Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM'000 2557 1565 1,0 21,386 5,070 19,009 (789) 175,685 93,484 275,527 176,871 1433 8,0 1,8)(5,625) (10,387) 89,308 174,353 9,5 221 1,9 16,316 19,798 82,201 98,656 9,6 461 2,3 19,474 21,832 54,661 96,668 8,2 461 2,3 19,474 21,832 54,661 88,221 258 1,5 ,9 11,320 9,598 12,955 2,518 198 120 (,3)(3,158) (2,034) 1,260 1,988 8,447 to - (8,779) - - 26,280 - Group 30.6.2008 (restated) 1.7.2007 RM'000 to - 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 Number of Directors NumberofDirectors RM'000 Company to to 1 1 2 5 1 - (625) ------30.6.2008 30.6.2008 (restated) 1.7.2007 1.7.2007 RM'000 to to 2 1 2 1 5 ------199 Sunway City Berhad Annual Report 2009 200

Sunway City Berhad Annual Report 2009

10. FinancialStatements the to Notes to incometaxexpenseattheeffective incometaxrate oftheGroup andofthe Company isas follows: A reconciliation ofincometaxexpenseapplicableto profit/(loss) before incometaxrate taxatthestatutory Taxation iscalculated for attherates prevailing otherjurisdictions intherespective jurisdictions. subsidiaries. RM500,000 taxableprofit ofcertain previous financial year,In taxincentive of6%wasexemptedRevenue BoardInland by the for thefirst 26% and25%respectively oftheestimated assessableprofit for the year. taxrate for current incometaxiscalculatedDomestic years atthestatutory ofassessment2008and2009 of taxrelief. to additionaltaxprovided inaforeignpertaining asaresult ofchangeintreatment for subsidiary utilisation intheGroup’sIncluded underprovision for foreign financial incometaxinprior yearwasanamount Income Tax Expense(contd.) Income tax expenseforIncome theperiod/year Underprovision ofdeferred years taxinprior Underprovision years ofincometaxinprior Group's exercise corporate (Note (a)) fromEffects arising thebuybackofassetspursuant to the Effect ofshare of profit ofjointlycontrolled entities Effect ofshare of profit ofassociates differences temporary capitalallowances andotherdeductible unabsorbed Deferred taxassetsrecognised onpreviously unrecognised taxlosses, differences temporary taxlosses, capitalallowances andotherdeductible unabsorbed Deferred taxassetsnotrecognised inrespectofcurrent period/year's differences temporary capitalallowances andotherdeductible ofpreviouslyUtilisation unrecognised taxlosses, unabsorbed forExpenses notdeductible taxpurposes to tax notsubject Income Deferred taxrecognised atdifferent taxrates Different taxrates inothercountries to taxrateEffect ofincomesubject of20%(2008:20%) Taxation taxrate of25%(2008:26%) statutory atMalaysian Profit before tax Group 31 December 2009 December 31 31.12.2009 11147 634,005 1,141,407 1.7.2008 2557 175,685 275,527 164,841 285,352 (245 (2,915) (12,415) (2,219) (21,271) 2,0 14,216 28,401 (,2)(838) (2,024) (5,569) (7,858) (3,475) 258 12,955 27,540 2,518 1,988 36 1,754 28 4,178 268 to - (24,795) - (8,779) (677) - - 30.6.2008 1.7.2007 (restated) to -

10. (a) Income Tax Expense(contd.) periods. infuturein taxbaserepresents Board Revenue asadeduction willpermit theamountthatInland valuesatthetimeoftheirbuyback. yearresult theprior atmarket The ofthebuybackduring increase This represents assetsrestated theincrease backto theGroup intaxbaseofcertain year inprior asthe Income taxexpenseforIncome theperiod/year Underprovision ofdeferred years taxinprior Overprovision of income tax in prior years ofincometaxinprior Overprovision Expenses not deductible forExpenses notdeductible taxpurposes Income not subject to tax notsubject Income Deferred taxrecognised atdifferent taxrates Taxation taxrate of25%(2008:26%) statutory atMalaysian (Loss)/profit before tax Company Tax thefinancial period/yearare savings from: during arising taxlosses ofpreviouslyUtilisation unrecognised tlsto fcretya a oss 091 2,6 098 27,735 10,978 28,167 10,991 ofcurrent yearUtilisation taxlosses Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM'000 79 6,614 769 to Group 30.6.2008 1.7.2007 RM'000 to 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 (5,1)44,647 (156,218) RM'000 (016 (1,986) (10,176) (905 11,608 (39,055) 1,0 21,386 19,009 6,7 4,227 60,676 (,3)(3,158) (2,034) 958 11,320 9,598 Company to to - (625) - - 30.6.2008 30.6.2008 1.7.2007 1.7.2007 (restated) RM'000 to to - 201 Sunway City Berhad Annual Report 2009 202

Sunway City Berhad Annual Report 2009

11. FinancialStatements the to Notes

(b) Earnings Per Share (a) shares, i.e. share optionsgranted to employees andwarrants. thefinancialperiod/yearhaveduring beenadjusted for thedilutive effects ofallpotential ordinary holdersoftheCompany equity andtheweighted shares averageordinary inissue numberofordinary For pershare, ofcalculatingdiluted earnings thepurpose theprofit to for theperiod/yearattributable Diluted during thefinancialperiod/year.during holdersoftheCompany equity by theweighted sharesordinary average inissue numberofordinary pershareBasic earnings amountsare calculated by dividingprofit to for theperiod/year attributable Basic Diluted earnings pershareDiluted earnings (sen) inissueandissuable('000) Adjusted weighted shares average numberofordinary Effect ofdilutionshare options('000) pershareBasic earnings (sen) Weighted shares average inissue('000) numberofordinary Weighted shares average inissue('000) numberofordinary Company (RM'000) Profit holdersofthe equity to ordinary attributable Company (RM'000) Profit holdersofthe equity to ordinary attributable 31 December 2009 December 31 31.12.2009 31.12.2009 1.7.2008 1.7.2008 4005 469,279 470,005 4998 468,792 469,948 468,792 469,948 5798 261,906 537,908 261,906 537,908 144 55.81 114.45 144 55.87 114.46 5 487 57 to to 30.6.2008 30.6.2008 1.7.2007 1.7.2007 to to

12. appropriation ofretained profits inthefinancial December2010. year ending31 this proposed dividend. Suchdividend, ifapproved by theshareholders, willbeaccounted for asan in equity proposed for shareholders’ approval. The financialstatements donotfor thecurrent financialperiod reflect shares inissueonthedate ofentitlementwillbe 2009of5%less25%taxationonordinary December ended31 Meeting, AnnualGeneral afinaldividend inofthefinancialperiod At theforthcoming respect Dividends pershare) shares (6sen ordinary taxation,on469,951,432 2009:8.0%less25% First dividendfor interim pershare) shares (3.75sen on469,949,432ordinary 5.0%less25%taxation, Final dividendfor 2008: senpershare) shares (2.22 ordinary taxation,on469,910,199 2008:3.0%less26% First dividendfor interim pershare) shares (5.694sen on469,910,199ordinary 7.8%less27%taxation, Final dividendfor 2007: period/year: the Recognised during Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM’000 2,9 805 2,5 580 37,189 45,820 26,757 28,055 28,197 28,197 to - 1,2 763 - 17,623 - 10,432 - 17,623 - - 10,432 - - 30.6.2008 in respect ofperiod/ in respect 1.7.2007 RM’000 Dividends Dividends to year - - 2,9 - 28,197 - - 26,757 - 26,757 - 30.6.2007 1.7.2006 RM’000 to 31 December 2009 December 31 31.12.2009 recognised inperiod/ 1.7.2008 RM’000 Dividends Dividends to year 30.6.2008 1.7.2007 RM’000 to 203 Sunway City Berhad Annual Report 2009 204

Sunway City Berhad Annual Report 2009 Notes to the FinancialStatements the to Notes 13. Property, Plant and Equipment

Equipment, furniture Capital Freehold Plant and Motor and work-in- land Buildings Renovations machinery vehicles fittings progress Total RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 Group

At 31 December 2009

Cost At 1 July 2008 4,769 308,565 2,913 191,978 7,615 144,881 88,499 749,220 Additions 9,532 13,237 1,291 1,820 1,009 50,170 55,693 132,752 Disposals/write-offs - (98) - (451) (500) (5,097) (44) (6,190) 31 December 2009 December 31 Reclassifications - 95,594 1,941 - - 48,814 (146,349) - Transfer from non-current assets classified as held for sale (Note 31) - 329,330 1,212 72,749 1,708 188,929 36,036 629,964 Exchange differences 1,416 - - 1 - 5 1,422 At 31 December 2009 14,301 748,044 7,357 266,096 9,833 427,697 33,840 1,507,168

Accumulated depreciation and impairment At 1 July 2008 943 98,485 1,475 167,353 4,661 106,623 5,754 385,294 Depreciation charge for the period (Note 7) - 24,669 923 12,402 1,918 41,960 - 81,872 Disposals/write-offs - (406) - (145) (304) (5,044) - (5,899) Transfer from non-current assets classified as held for sale (Note 31) - 9,937 707 24,010 1,202 139,922 - 175,778 Exchange differences - - - - - 2 66 68 At 31 December 2009 943 132,685 3,105 203,620 7,477 283,463 5,820 637,113

Net carrying amount 13,358 615,359 4,252 62,476 2,356 144,234 28,020 870,055 13. Property, Plant and Equipment (contd.)

Equipment, furniture Capital Freehold Plant and Motor and work-in- land Buildings Renovations machinery vehicles fittings progress Total RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 Group (contd.)

At 30 June 2008

Cost At 1 July 2007 5,164 625,923 3,655 265,553 8,774 300,818 487,928 1,697,815 Notes to the FinancialStatements the to Notes Additions 85 6,421 544 1,863 958 36,415 212,742 259,028 Disposals/write-offs - - (50) (247) (402) (1,154) - (1,853) Reclassifications - 5,999 - 75 - (27) (6,047) - Transfer from property development costs (Note 24) ------9 9 Transfer to investment properties (Note 15) ------(570,545) (570,545) Transfer to non-current assets classified as held for sale (Note 31) (480) (328,402) (1,212) (74,944) (1,708) (190,427) (35,588) (632,761) Exchange differences - (1,376) (24) (322) (7) (744) - (2,473) At 30 June 2008 4,769 308,565 2,913 191,978 7,615 144,881 88,499 749,220

Accumulated depreciation and impairment At 1 July 2007 943 99,229 1,850 187,481 5,103 230,772 5,754 531,132 31 December 2009 December 31 Depreciation charge for the year (Note 7) - 9,181 369 6,484 1,080 16,985 - 34,099 Disposals/write-offs - - (26) (6) (339) (492) - (863) Transfer to non-current assets classified as held for sale (Note 31) - (9,814) (707) (26,447) (1,182) (140,017) - (178,167) Exchange differences - (111) (11) (159) (1) (625) - (907) At 30 June 2008 943 98,485 1,475 167,353 4,661 106,623 5,754 385,294

Net carrying amount 3,826 210,080 1,438 24,625 2,954 38,258 82,745 363,926 205 Sunway City Berhad Annual Report 2009 206

Sunway City Berhad Annual Report 2009 13. FinancialStatements the to Notes Property, Plant and Equipment (contd.)Equipment Property,and Plant Net carrying amount Net carrying At 30June2008 Disposals (Note 7) Depreciation charge for theyear At 1July2007 impairment Accumulated depreciation and At 30June2008 Disposals Additions At 1July2007 Cost At 30June2007 Net carrying amount Net carrying At 31 December 2009 At 31December (Note 7) Depreciation charge for theperiod At 1July2008 impairment Accumulated depreciation and At 31 December 2009 At 31December Write-offs Additions At 1July 2008 Cost At 31December 2009 Company Buildings RM'000 344 18 185 248 7,915 2,458 1,835 188 3,434 446 5,3 ,1 ,7 66,356 6,573 3,618 51,739 4,426 415 5,3 ,1 ,4 64,183 4,943 3,316 51,739 4,185 331 13 110 266 7,270 2,656 1,140 173 3,301 115 5,6 ,7 ,2 60,389 4,922 2,776 51,566 1,125 446 5,3 ,1 ,7 67,659 7,578 3,916 51,739 4,426 446 5,3 ,1 ,7 66,356 6,573 3,618 51,739 4,426 92 5,5 ,8 ,1 58,441 4,115 1,783 51,551 992 96 5,4 ,9 ,4 57,286 3,642 1,197 51,541 906 21 - 41 168 2,330 1,648 441 - 241 13 1 9 0 1,948 807 993 15 133 92 5,5 ,8 ,1 58,441 4,115 1,783 51,551 992 8 0 63 45 1,244 485 663 10 86 31 December 2009 December 31 - - (7 (2 (89) (12) (77) - - - - (3) 1)(157) (18) (139) - - - - (8 - (18) - (18) - - - - 36 105 1,321 1,005 316 - - machinery machinery Plant and RM'000 vehicles RM'000 Motor Equipment, furniture RM'000 fittings and RM'000 Total

14. 13.

(c) (b) Biological Assets (a) (contd.)Equipment Property,and Plant Biological assetsconsistofanimals usedinapettingzoo operated by asubsidiary. Net carrying amount Net carrying At endoffinancialperiod/year Write-off Depreciation charge for theperiod/year(Note 7) At beginning offinancialperiod/year Accumulated depreciation At endoffinancialperiod/year Write-off Additions At beginning offinancialperiod/year Cost amounted to RM872,000. previous financial year,In interest expensecapitalisedundercapital work-in-progress oftheGroup securities forsecurities borrowings asdisclosedinNote 32to thefinancialstatements, isas follows: amountofproperty, plantandequipmentpledgedto financialinstitutionsas The net carrying arrangements isasfollows:arrangements amountofproperty, plantandequipmentheldunderhire purchase andfinancelease The net carrying Equipment, furniture andfittings Motor vehiclesMotor Capital work-in-progress Equipment, furniture andfittings Plant andmachinery Buildings Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM'000 2,8 ,5 4 1,340 244 9,456 24,888 2,3 7,940 24,136 72 156 24 1,340 244 1,516 752 to Group 30.6.2008 1.7.2007 RM'000 to 31.12.2009 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 1.7.2008 RM'000 RM'000 RM'000 4,4 87,570 45,845 3,4 80,689 39,740 243 2,260 2,463 365 4,621 3,615 (8)(124) (389) 52 763 72 532 75 151 118 835 512 683 447 237 835 (9 (13) (39) 27 7 10 72 Company to to to - Group Group 30.6.2008 30.6.2008 30.6.2008 1.7.2007 1.7.2007 1.7.2007 RM'000 RM'000 RM'000 to to to - - 207 Sunway City Berhad Annual Report 2009 208

Sunway City Berhad Annual Report 2009

15. FinancialStatements the to Notes determined primarily based on income and comparison approaches. basedonincomeandcomparison primarily determined outby CH valuation carried William Talhar & Wong, Frank Knight andCity Valuers &Consultants. Fair valueis and directors’ 2009are asat31December basedon estimation. valuesoftheproperties The carrying by CH William Talhar & Wong, Frank, City Knight Valuers &Consultants, independentprofessional valuers were out valuesoftheproperties basedonvaluationcarried Prior to2009,thecarrying 31December The investment are underleaseterms asfollows: properties Investment Properties At endoffinancialperiod/year ofoveraccruedReversal cost -loss(Note 7) -gain(Note 5) Fair valueadjustment Disposal -inventories heldfor sale(Note 31) 81,408 assetsclassifiedas -non-current equipment(Note 13) 82,088 -property, plantand 1,334,370 Transfers from/(to): expenditure 429,469 Additions from subsequent Additions from acquisition At beginning offinancial period/year At valuation Buildings Freehold land Long leaseholdland term 31.12.2009 31.12.2009 31 December 2009 December 31 32737 4949 9,8 82,088 91,189 429,469 3,207,367 32737 4949 9,8 82,088 91,189 429,469 3,207,367 20020 (2,050,220) 2,050,220 25829 3182 2,0 34,080 29,100 391,892 2,518,279 1.7.2008 1.7.2008 RM'000 RM'000 7392 3186 6,807 311,816 733,992 5499 37,577 104,089 584,999 (52,017) 1,9 5,1 2 680 720 111,540 26,603 151,418 19,599 (1,530) 1,574 (543) to to - 570,545 - Group Group 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to - - - - 1,574 - - 62,089 - 31.12.2009 31.12.2009 1.7.2008 1.7.2008 RM'000 RM'000 Company Company to to ------48,008 - 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to ------

17. 16. 15. securities forsecurities borrowings asdisclosedinNote 32to thefinancialstatements. Leasehold valueofRM20,407,000(2008:RM15,321,000)are pledgedas landwithanaggregate carrying years (2008:82years to 90years). 2009are oftheleaseholdlandas31December withintherangeof81yearsThe to unexpired 89 portion Land Heldfor Development Property Prepaid LandLease Payments amounted to RM1,914,000. theprevious financial year,In interest expensecapitalisedunderinvestment oftheGroup properties leasedto anumberofcommercial third comprise properties andrelatedInvestment properties parties. RM357,628,000) are for pledgedassecurities borrowings asdisclosedinNote 32to thefinancialstatements. valueofRM2,768,215,000(2008: oftheGroup withanaggregateInvestment properties carrying Investment (contd.) Properties Development costs Development Long leaseholdland term Freehold land At beginning offinancialperiod/year Cost At endoffinancialperiod/year heldfor sale(Note 31) assetsclassifiedas fromReclassified non-current for theperiod/year(Note 7) Amortisation At beginning offinancialperiod/year At cost Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM'000 3443 2108 229 2,299 2,299 251,008 394,473 1436 1254 129 1,279 1,279 102,554 184,326 141,471 175,003 3,4 ,8 ,2 1,020 1,020 6,983 35,144 to Group 30.6.2008 1.7.2007 (restated) RM'000 to 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 RM'000 RM'000 2,4 20,965 20,849 21,367 20,965 (2)(402) (524) 408 Company to to - Group 30.6.2008 30.6.2008 1.7.2007 1.7.2007 (restated) RM'000 RM'000 to to - - 209 Sunway City Berhad Annual Report 2009 210

Sunway City Berhad Annual Report 2009

17. FinancialStatements the to Notes statements. are pledgedto financialinstitutions assecurities for borrowings asdisclosedinNote 32 to thefinancial Freehold landandrelated development costsoftheGroup costingRM80,470,000(2008:RM35,196,000) RM1,323,000 (2008:RM1,816,000) underdevelopment costsoftheGroup thefinancialperiod Interest expensecapitalisedduring amounted to Land Heldfor Development Property (contd.) period/year amount at endoffinancial Carrying (Note 24) development costs -property Transfers (to)/from: asheld Reclassified for sale(Note 31) Development costs Development Long leaseholdland term ofoveraccruedReversal cost: costs Development Long leaseholdland term Freehold land Additions: Freehold land Exchange difference: 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 4294 3443 229 2,299 2,299 394,473 402,954 1,1 48,377 10,212 1,1 76,538 11,617 (,9)81,984 (2,995) 1,405 (4)(212) (141) (141) to - (15,249) - - (212) - 28,161 - 404 - Group 30.6.2008 1.7.2007 (restated) RM'000 to - - 31.12.2009 1.7.2008 RM'000 Company to ------30.6.2008 1.7.2007 (restated) RM'000 to ------

18.

(a) thefinancialperiod, theGroupDuring completed the following acquisitions: Investments inSubsidiaries (b) (c) (d) (e) (f) (g) the Group. The acquired donothave subsidiaries any effect material onthefinancial resultsandfinancialpositionof Net carrying amount at endoffinancialperiod/yearNet carrying Less: theperiod/year during Redeemed Less: Accumulated losses impairment Unquoted preference shares Less: Accumulated losses impairment shares Unquoted ordinary At cost cash; 2009,theCompanyOn 29April acquiredinterest for 100%equity Estate inABSReal Berhad RM2.00 Bhd. (formerly known asFavouriteBhd. (formerlyknown Bhd.) Sdn. for Junction RM2.00cash; 2009,SunwayOn 21May Centre Medical acquiredinterest Berhad ClinicsSdn. 100%equity inSunMed known as Mega Methods Sdn. Bhd.) Sdn. for Methods asMega RM2.00cash; known On 8June2009,theCompany acquiredinterest 100%equity inSuncity Vietnam Bhd. Sdn. (formerly Residence Sdn. Bhd. (formerly known as Lake Blooms Sdn. Bhd.) BloomsSdn. for asLake Bhd. RM2.00cash; Sdn. Residence (formerlyknown On 24June2009,Sunway Quay Bhd. South Sdn. acquiredinterest 100%equity inSunway Monash-U RM2.00 cash;and On 24September 2009,theCompany acquiredinterest 100%equity inRich Worldclass Bhd. Sdn. for for RM2.00cash. 2009,theCompanyOn 31December acquiredinterest 100%equity in Worldclass Symphony Bhd. Sdn. redeemable preference shares ofparvalueUSD0.01for USD1each(equivalent RM36.00). Limited ontrustfor theCompany. The Company for convertible hadsubscribed 10non-cumulative Limited (“GCIL”) whereby interest GCILholdsthe100%equity inSunway Captive City Insurance On 31July2009,theCompany entered into a Trustee Agreement Captive withGeneral International Notes to the FinancialStatements the to Notes 31.12.2009 31 December 2009 December 31 1.7.2008 (151,605) RM'000 5437 525,388 564,367 318,410 276,545 327,034 521,336 206,978 287,822 214,832 294,556 (316 (8,624) (93,186) (,3)(7,854) (6,734) Company to 30.6.2008 1.7.2007 RM'000 to - 211 Sunway City Berhad Annual Report 2009 212

Sunway City Berhad Annual Report 2009

19. 18. FinancialStatements the to Notes

bearing amountsbearinterestbearing atrates ranging from 3.00%to 7.05%(2008:3.00%to 7.75%)perannum. The amountsduefrom are subsidiaries unsecured ofrepayment andtheterm isondemand. The interest Amounts from Due Subsidiaries (a) thefinancialperiod, the During Company to additionalshares subscribed inthe following companies: Investments inSubsidiaries(contd.) (b) (c) of theGroup. didnothave any effect material The onthefinancial disposal ofthesubsidiary resultsandfinancialposition cash considerationofRM7,000. thefinancialperiod, theGroup interestDuring fullydisposedits70%equity in TAH Sdn. Bhd. Properties for Less: Allowance for doubtfuldebts Non-interest amounts bearing amounts Interest bearing amounting to RM99,998,satisfied by cash; Additional inshares subscription ofSunway Bhd., Sdn. Residence awhollyowned subsidiary amounting to RM999,998,satisfied by cash; Additional inshares subscription ofSunway Healthy Bhd., Lifestyle Sdn. awhollyowned subsidiary Security Services Sdn. Bhd.), a wholly owned subsidiary amountingto RM199,998,satisfied by cash; Bhd.), Sdn. awhollyowned subsidiary Services Security Additional inshares subscription asSunway ofSunway Bhd. Sdn. (formerlyknown Leisure Services 31 December 2009 December 31 31.12.2009 10592 1,326,665 1,025,952 1.7.2008 (2,0)(144,536) (123,906) RM'000 9206 1,182,129 902,046 3094 638,918 687,747 360,944 665,008 Company to 30.6.2008 1.7.2007 RM'000 to

20.

The summarised financialinformationThe summarised oftheassociates isas follows: audited financial statementsDecember2009. and31 2009 have beenusedasthere are thebalancesheetdates between oftheirlast nosignificant transactions methodofaccounting,equity theunaudited financialstatements oftheseassociatesDecember asat31 to conform withtheir respective holdingcompany’s financial year end. ofapplyingthe For thepurpose Bhd.Sdn. and Aktif-Sunway Bhd. Sdn. whichhaveMarch afinancial year endof31 and30June respectively, The financialstatements oftheassociates are withthoseoftheGroup, coterminous except for PyramidBowl interest inSunway Pte. MAK International Ltd. for aconsiderationofIDR50,000,000(RM4,026,000). thefinancialperiod, SunwayDuring (S’pore) City Pte. acquired Ltd., 26.32%equity awholly owned subsidiary oftheassociatesDetails are asdisclosedinNote 50to thefinancialstatements. Investments inAssociates cash consideration ofRM1. previous financial year,In the Company acquired interest 50%equity inGlitterSdn. Bhd. for a Performance USD18,000 (approximately RM57,000)andresulted inalossondisposalofRM59,000. previous financial year,In theGroup disposedofOSC First Holidays Co. Ltd. for a total cashconsiderationof Less: Accumulated losses impairment Share ofpost-acquisition reserves Unquoted shares atcost Profit for theperiod/year Revenue Results Total liabilities liabilities Non-current Current liabilities Total assets assets Non-current Current assets Assets andliabilities Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM'000 2,4 553 1,6 11,265 11,265 15,533 27,648 2,4 553 1,6 13,265 13,265 15,533 27,648 1,6 558 1,6 13,265 13,265 15,538 19,564 8,084 to - Group 30.6.2008 1.7.2007 RM'000 to (5) - (,0)(2,000) (2,000) - 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 RM'000 RM'000 1,0 6,858 33,470 16,301 76,158 36,892 67,580 36,431 66,935 (,6)(7,045) (6,866) (7,040) (6,856) 65 461 645 (10) Company to to - 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to (5) - 213 Sunway City Berhad Annual Report 2009 214

Sunway City Berhad Annual Report 2009

21. FinancialStatements the to Notes Details ofthejointlycontrolledDetails entitiesare asfollows: Investments inJointly Controlled Entities Suncity FawanisSuncity JV Suncity Medallion JV Medallion Suncity Private Limited Sunway OpusInternational uwyRa sae(hn)Lmtd ogKn rpry 6 60 60 Property HongKong Sunway Estate Real (China) Limited es eemddrn h eidya (3,456) Share ofpost-acquisition reserves Less: theperiod/year during Redeemed Unquoted shares atcost Sunway Bhd. SPKHomesSdn. Name ofjointly controlled entities incorporation 31.12.2009 Country of Country Mlyi rpry 5 50 50 Property Malaysia Mlyi rpry 5 50 50 Property Malaysia Mlyi rpry 5 50 50 Property Malaysia 31 December 2009 December 31 1.7.2008 RM'000 1596 6,9 098 13,456 50,938 65,099 125,926 8,7 356 5,9 13,456 21,563 54,394 44,909 43,536 84,473 Ida Poet 0 50 50 Property India to Group development development development development development 30.6.2008 Principal 1.7.2007 (restated) RM'000 activity activity to - (3,456) - 31.12.2009 Proportion ofownershipProportion 1.7.2008 RM'000 2009 Company to interest % - 30.6.2008 1.7.2007 (restated) RM'000 2008 to % - -

21. entity isasfollows:entity The detailofgoodwillincludedwithintheGroup’s amountofinvestment inajointlycontrolled carrying liabilities, incomeandexpensesofthejointlycontrolled entitiesisasfollows: The Group’s aggregate share assets, ofthecurrent assets, current liabilities, non-current non-current Investments inJointly Controlled Entities (contd.) Revenue Results Total liabilities liabilities Non-current Current liabilities Total assets assets Non-current Current assets Assets andliabilities at 31 December/30 June at31December/30 fromArising investment inajointlycontrolledandas entity Cost Expenses, includingfinancecostsandtaxation Notes to the FinancialStatements the to Notes 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 (0,9)(102,184) (102,090) (3,0)(31,112) (136,801) RM'000 RM'000 1641 39,856 186,461 156,566 215,059 146,860 125,234 (743 (33,398) (68,786) (87,403) (14,687) 8,2 9,706 89,825 1,2 10,721 10,721 to to 30.6.2008 30.6.2008 1.7.2007 1.7.2007 (restated) RM'000 RM'000 to to 215 Sunway City Berhad Annual Report 2009 216

Sunway City Berhad Annual Report 2009

21. FinancialStatements the to Notes

(a) thereof,furtherance theCompany hadentered into thefollowing agreements withSunwayMas: located inJiangyin,Chinathrough Sunway Estate Real (China) Limited (“Sunway Estate”) Real andin development projectonapieceofland SunwayMas aproperty Bhd(“SunwayMas”) Sdn to undertake inthepreviousAs financial reported year, in relation to thejoint venture the between Company and Limited for atotal cashconsiderationofIDR350,000,000(approximately RM30,079,398). theprevious financial year,In theGroup acquiredinterest 50%equity inSunwayInternational Opus Private Investments inJointly Controlled Entities (contd.) Consequently, ofSunway Estate. Real JiangyinGuanghao hasbecomea65%owned subsidiary the Definitive Agreements. ofRMB104,000,000(equivalent tocash subscription approximately RM53.8million)pursuantto of theterms ofshareson 27August forinJiangyinGuanghao 2009,fullysubscribed thebalanceofitsportion atotal Upon fulfillmentofalltheconditionsprecedent statedDefinitive inthe Agreements, Sunway RealEstate had The Company for andSunwayMassubscribed hadearlier 17,677,054RPSand11,784,703respectively. (b) (a) by theCompanysubscribed andSunwayMas inSunway Estate Real asfollows: to 31 theconditionsfulfilmentperiod extend August 2009and to changethe total numberofRPS to be Supplemental Agreement Agreement to theSubscription dated 11July2008withSunway Estate Real to thecurrent financial During year, the Company andSunwayMas hadon27 August 2009,entered into a Agreements”). Sunway Estate Real andShanghaiGuanghaoinJiangyin(collectivelyreferred to as Definitive “the GroupDevelopment Co. Ltd. (“ShanghaiGuanghao”) andJiangyinGuanghaoonthejointventure between Estate Co.Guang HaoReal Development Ltd. (“Jiangyin Guanghao”) Estate withShanghaiGuangHaoReal Joint Venture Agreement, Share Agreement Capital ofAssociation Subscription ofJiangyin andArticles Subsequently on27June2008,Sunway Estate Real had, entered into Agreement, theMaster Equity (b) HK$1.00 eachinSunway Estate, Real detailsassetoutbelow: shares of ofHK$1.00eachand120,873,350RPSHK$0.01atanissueprice balance of9,990ordinary Agreement) having beenfulfilled, the Company andSunwayMas hadon27 August 2009,subscribed for the With alltheconditionsprecedent Agreement stated in theSubscription (asamendedby theSupplemental Suncity Name ofshareholders SunwayMas Shareholders Agreement onthejointventure ofSunway Estate Real on27June2008;and in Sunway Estate. Real redeemableeach andnew preference shares (“RPS”) ofHK$1.00each ofHK$0.01eachatanissueprice AgreementSubscription shares dated ofHK$1.00 11July2008for ordinary ofnew thesubscription the Company for willsubscribe 89,659,158RPSinstead of88,800,000RPS;and SunwayMas for willsubscribe 60,675,949RPSinstead of59,200,000RPS. Ordinary Ordinary 31 December 2009 December 31 shares 5,994 3,996 990 120,873,350 9,990 71,982,104 48,891,246 RS shareholding RPS Percentage of 100% 60% 40%

22. as follows: hasbeenallocatedGoodwill to theGroup’s CGUs, according alloperatinginMalaysia, to businesssegments Allocation ofgoodwill used for value-in-use calculationsare:used for value-in-use are usingthe period beyond thefive-year extrapolated growth rates stated below. assumptions key The projections basedonfinancialbudgetsapproved by managementcovering period. afive-year Cash flows The recoverable calculationsusingcashflow amountofaCGU basedonvalue-in-use isdetermined calculations Key assumptionsusedinvalue-in-use Goodwill Discount rate Growth rate Gross margin At 30June2008 Discount rate Growth rate Gross margin At 31December 2009 Net carrying amount Net carrying Less: andimpairment Accumulated amortisation At end offinancialperiod/year interestAcquisition ofadditionalequity inasubsidiary At beginning offinancial period/year Cost Healthcare Hospitality investmentProperty Notes to the FinancialStatements the to Notes development Property Property 2. . 25 61 16.8 6.1 12.5 5.7 22.5 3. 73 2. 94 17.5 39.4 24.2 67.3 31.6 1. 00 1. 00 10.0 10.0 10.0 10.0 10.0 1. . . . 37.3 5.6 7.2 6.0 12.3 2. 47 2. 03 15.1 30.3 26.7 64.7 26.3 80 80 80 80 8.0 8.0 8.0 8.0 8.0 % investment Property Property % Leisure % 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 Hospitality RM'000 RM'000 2,3 23,027 23,035 31,867 31,875 31,867 31,867 2,3 23,027 23,035 11,997 12,005 (,4)(8,840) (8,840) 481 4,871 6,159 4,871 6,159 to to 8 Group % 30.6.2008 30.6.2008 Healthcare 1.7.2007 1.7.2007 RM'000 RM'000 to to % -

217 Sunway City Berhad Annual Report 2009 218

Sunway City Berhad Annual Report 2009

23. 22. FinancialStatements the to Notes

Other InvestmentsOther (i) testing ofgoodwill: impairment undertake The assumptiononwhichmanagementhasbaseditscashflow following projections to eachkey describes (contd.)Goodwill (ii) (iii) units to exceed materially theirrecoverable amounts. valuesofthe no reasonably possiblechangeinany assumptionswould oftheabove causethecarrying key With regard ofeachthebusinesssegments, managementbelieves to that theassessmentofvalue-in-use to changesinassumptions Sensitivity Corporate membership Unquoted preference shares shares Unquoted ordinary At cost improvements. margins achieved intheyear immediately before thebudgeted year increased for efficiency expected The basis usedto thevalueassigned determine to thebudgeted gross margins istheaverage gross Budgeted gross margin the industry. The weighted average growth rates usedare consistent average withthelong-term growth rate for Growth rate The discount rates used are pre-tax and reflect specific risksThe discount rates andreflectspecific usedarerelating tothe pre-tax segments. relevant Discount rate 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 16,895 10,853 6,019 23 to Group 30.6.2008 1.7.2007 RM'000 to - 10,853 - - 10,853 - - - 31.12.2009 1.7.2008 RM'000 Company to - - 30.6.2008 1.7.2007 RM'000 to - - - - 24. Property DevelopmentProperty Costs Development costs Development At beginning offinancialperiod/year Accumulated impairment losses At endoffinancialperiod/year ofcompletedReversal projects Freehold land Disposal: -inventories (Note 17) development -landheldfor property (Note 13) -property, plantandequipment Transfers from/(to): Long leaseholdland term Freehold land ofoveraccruedReversal cost: Exchange difference Development costs Development Long leaseholdland term Freehold land Costs theperiod/year: incurred during Development costs Development Long leaseholdland term Freehold land At beginning offinancial period/year development costs Cumulative property Notes to the FinancialStatements the to Notes 31.12.2009 19095 21368 7,3 138,021 70,336 2,103,688 1,920,935 21368 19075 1801 96,761 138,021 1,960,775 2,103,688 16822 14195 1591 94,641 135,901 1,491,905 1,618,242 1.7.2008 (0,5) 1800 (84,097) (168,080) (703,753) RM'000 5745 4685 1,2 41,260 16,727 416,835 527,415 4460 3758 1,2 41,260 16,727 397,538 474,630 2060 2706 210 2,120 2,120 237,076 231,794 240,670 244,776 5,8 3,594 52,785 (,7)(1,577) (1,577) (6,972) (,5)(2,712) (2,152) (,6)(2,712) (1,966) 260 (0,3)(315) (103,130) 2,680 295 (81,984) 2,995 (1) 2,3)(315) (21,137) (315) (186) 29 to - - 15,703 - Group 30.6.2008 1.7.2007 (restated) RM'000 to (9) - - - 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 Company to ------30.6.2008 1.7.2007 (restated) RM'000 to ------219 Sunway City Berhad Annual Report 2009 220

Sunway City Berhad Annual Report 2009

25. 24. FinancialStatements the to Notes institutions as securities forinstitutions assecurities borrowings asdisclosedinNote 32to thefinancialstatements. Long leaseholdlandoftheGroup term costingRM537,932,000(2008:RM9,597,000)ispledgedto financial forsecurities borrowings asdisclosedinNote 32to thefinancialstatements. Freehold landoftheGroup costingRM25,975,000(2008:RM87,633,000)ispledgedto financial institutionsas RM12,062,000 (2008:RM931,000). underdevelopment costsoftheGroup thefinancialperiod Interest expensecapitalisedduring amounted to Inventories Property DevelopmentProperty Costs (contd.) tbgnigo iaca eidya (,8,8) 14098 (1,1)(89,188) at endof financialperiod/year developmentProperty costs (117,312) At end offinancialperiod/year (1,490,918) ofcompletedReversal projects (1,782,984) year (Note 4) theperiod/ Recognised during At beginning offinancial period/year income statement Cumulative costs recognised in Consumables Food andbeverages Trading inventories Properties heldfor sale 31.12.2009 31.12.2009 (,8,3) 17294 (575 (117,312) (55,795) (1,782,984) (1,388,336) 31 December 2009 December 31 1.7.2008 1.7.2008 (0,0) 4016 (250 (28,124) (22,580) (460,146) (309,105) RM'000 RM'000 5102 3917 1,4 20,709 14,541 319,127 84,097 531,022 168,080 703,753 5,7 230 1,1 12,171 10,912 52,320 50,671 4,4 354 1,1 12,171 10,912 43,594 40,349 231 1,999 2,073 4,654 2,381 1,832 6,109 to to Group Group 30.6.2008 30.6.2008 1.7.2007 1.7.2007 (restated) RM'000 RM'000 to to 31.12.2009 31.12.2009 1.7.2008 1.7.2008 RM'000 RM'000 Company Company to to - - - 30.6.2008 30.6.2008 1.7.2007 1.7.2007 (restated) RM'000 RM'000 to to - - - -

26. Included intradereceivables areIncluded thefollowing amountsduefrom related parties: concentration of credit risk. concentration ofcredit risk. Trade receivables are non-interest bearing. the Group’s tradereceivables relate to alarge numberofdiversified customers, there isnosignificant balances are oftheaforementioned reviewed view regularly by that seniormanagement. In andthefact control over Overdue itsoutstandingreceivables to andhasacredit minimisecredit control risk. department (2008: 14days to 30days). Eachcustomer hasamaximumcredit limit. The Group seeksto maintainstrict with itscustomers are mainly oncredit. The credit is generallyfor period of14days to aperiod 30days The Group’s exposure to through credit arises itstradereceivables. risk primary The Group’s tradingterms isasdisclosedinNote 49torelated thefinancialstatements. parties The amountsduefrom are related unsecured andnon-interest parties bearing. The relationship withthe Trade Receivables Less: Allowance for doubtfuldebts property development costs property Accrued billingsinrespectof Trade receivables Adasia Bhd. (M)Sdn. Bhd. Sdn. Enterprise Jef-San Bhd. Sdn. Asian Strategy &Leadership Incorporated Bhd. HoldingsSdn. GroupDekon Group Sunway Education Group Bhd. Sdn. Sunway Technology Bhd. Sdn. Group (“Sunway Holdings”) Group Sunway HoldingsBerhad Notes to the FinancialStatements the to Notes 31.12.2009 31.12.2009 1.7.2008 1.7.2008 RM'000 RM'000 1041 2933 601 3,054 6,031 209,323 160,461 2105 2848 620 3,530 6,270 218,478 211,035 2105 2663 620 3,530 6,270 216,633 211,035 (054 (,5) 29 (476) (239) (9,155) (50,574) 121 163 53 39 1,663 11 1,241 2,486 2,021 14 172 114 2 80 29 to to 1 2 6 - 1,845 - Group Group 30.6.2008 30.6.2008 1.7.2007 1.7.2007 (restated) RM'000 RM'000 to to - - - 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 RM'000 RM'000 Company Company to to 7 - - - - - 30.6.2008 30.6.2008 1.7.2007 1.7.2007 (restated) RM'000 RM'000 to to ------221 Sunway City Berhad Annual Report 2009 222

Sunway City Berhad Annual Report 2009

27. FinancialStatements the to Notes Included in sundry receivables are thefollowing insundry amountsduefromIncluded related parties: disclosed inNote 49to thefinancialstatements. withSunway Bhd.. Sdn. Construction undertaken The relationship withtheabove isas related parties Company whichbearsinterest at6.55%(2008:8.5%) perannum,inrespectofajointventure arrangement repayment except for RM91,000(2008:RM302,000)duefrom Sunway HoldingsGroup to theGroup andthe The amountsduefrom are related unsecured, parties non-interest and have bearing nofixed of terms Other Receivables Other Less: Allowance for doubtfuldebts mutdefo on etr ates 758 6,8 758 67,588 67,588 67,588 67,588 Amount duefrom jointventure partners receivables Sundry Prepayments Deposits Dekon Holdings Sdn. Bhd. HoldingsSdn. GroupDekon Bhd. Sdn. Group Sunway Education Group Bhd.PRK BuildersSdn. Sunway HoldingsGroup Akitek Akiprima Sdn. Bhd. Sdn. Akiprima Akitek Adasia Bhd. (M)Sdn. Selangor Perbadanan Negeri Kemajuan 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 RM'000 RM'000 1527 1968 8,7 107,907 84,978 139,638 135,257 1920 1369 8,7 111,729 88,872 143,659 139,290 3,7 877 919 42,743 418 980 9,149 10,358 1,777 58,777 7,456 9,838 32,479 21,956 17,267 (,3) 401 (,9)(3,822) (3,894) (4,021) (4,033) 93 49 789 32 439 38 304 953 2,486 608 124 to to 1 1 - Group Group 30.6.2008 30.6.2008 1.7.2007 1.7.2007 (restated) RM'000 RM'000 to to 7 - - - - 31.12.2009 31.12.2009 1.7.2008 1.7.2008 RM'000 RM'000 Company Company to to 8 - 79 - - - - 30.6.2008 30.6.2008 1.7.2007 1.7.2007 (restated) RM'000 RM'000 to to 1 - - - -

30. 29. 28. 27. Housing Development (ControlHousing Development 1966andare andLicensing)Act, from restricted useinotheroperations. 7Aofthe RM246,188,000) andRM11,719,000(2008:RM22,139,000)respectively heldpursuantto Section incashatbanksoftheGroup andoftheCompanyIncluded are amountsofRM151,614,000(2008: Cash Balances andBank Amounts from Due Jointly Controlled Entities Amounts from/(to) Due Associates interest ofrepayment andtheterm bearing isondemand. The amountsduefrom jointlycontrolled entitiesoftheGroup andoftheCompany isunsecured, non- ofrepayment andtheterm bearing isondemand. The amountsduefrom/(to) associates oftheGroup andofthe Company are unsecured, non-interest to asingledebtor or to groups ofdebtors otherthanasdisclosedabove. The Group andtheCompany have nosignificant concentrationofcredit fromrisk thatmay arise exposures property, plantandequipmentby asubsidiary. Prepayment oftheGroup includedown payments amountingto RM1,732,000for theacquisitionof and equipmentby asubsidiary. acquisition ofland. thefinancialperiod, RM4,535,000waspaid During for theacquisitionofproperty, plant oftheGroupDeposits includedepositspaidamountingto RM2,049,000(2008:RM275,000)for the repayment. The amount duefrom are jointventure unsecured, partners non-interest andhave bearing nofixed of terms Receivables (contd.)Other Cash andbankbalances financialinstitutions Other Licensedbanks with: Deposits Cash onhandandatbanks Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM'000 4800 5900 3,1 80,403 26,791 39,612 238 549,030 53,612 438,050 133,844 39,374 114,289 377,686 275,647 4,1 37,500 48,114 to Group 30.6.2008 1.7.2007 (restated) RM'000 to 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 Company to - 30.6.2008 1.7.2007 (restated) RM'000 to - 223 Sunway City Berhad Annual Report 2009 224

Sunway City Berhad Annual Report 2009

31. 30. FinancialStatements the to Notes Investment Trust. RM2,535,000,000 were inrelation to theproposed initialpublicofferring ofthe Company’sReal Estate theprevious financial year,In assetsheld amountof for salewithanaggregate non-current carrying to thefinancialstatements. RM1,797,851,000 were pledgedto financialinstitutionsassecurities for borrowings asdisclosedinNote 32 theprevious financial year,In assetsheld amountof for salewith an aggregate non-current carrying Non-Current Assets Classified asHeld Sale for balance sheetdate: For ofthecashflow statements, thepurpose the cashandequivalentscomprise following asatthe the Company are 1day to 30days (2008:1day to 30days). ofdepositswithlicensedbanksandother financialinstitutionsoftheGroupThe range ofmaturities andof respectively. of theGroup andoftheCompany atthebalancesheetdate are 2.53% (2008:3.25%)and1.98%Nil) The weighted average effective interest rate ofdepositswithlicensedbanksandotherfinancialinstitutions Cash Balances andBank (contd.) Total cashandequivalents Bank overdrafts (Note 32) Cash andbankbalances At endoffinancialperiod/year Disposal Prepaid landleasepayments (Note 16) Property, plantandequipment(Note 13) (Note 15) Investment properties -freehold land development (Note 17) Land heldfor property (to)/from:Reclassified At beginning offinancialperiod/year 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 4038 5398 3,1 80,403 39,612 80,403 543,928 39,612 430,358 549,030 438,050 (,9)(5,102) (7,692) to Group 30.6.2008 1.7.2007 (restated) RM'000 to 31.12.2009 31.12.2009 (,5,2)2,050,220 (2,050,220) 25738 17,295 2,537,358 1.7.2008 1.7.2008 (5,8)454,594 (454,186) RM'000 RM'000 (32,544) (408) Company to to - - 2,537,358 - - 15,249 - Group 30.6.2008 30.6.2008 1.7.2007 1.7.2007 (restated) RM'000 RM'000 to to - - - 32. Borrowings Bonds notes term Medium Term loans creditsRevolving Bank overdrafts Total borrowings Bonds notes term Medium Term loans Unsecured: Term loans Secured: Long term borrowings Bonds notes term Medium Term loans creditsRevolving Bank overdrafts Unsecured: Term loans creditsRevolving Bank overdrafts Secured: term borrowingsShort Notes to the FinancialStatements the to Notes oe1.7.2008 Note () 12416 8565 2789 147,000 267,809 875,625 1,214,106 (b) () 1623 2774 1623 237,744 196,233 237,744 196,233 (d) () 7,0 800 6,0 38,000 68,500 38,000 70,500 (a) () 8,8 5,6 494 354,164 84,984 354,164 84,984 (c) 0 762 5,102 7,692 30 31.12.2009 15355 15065 6756 776,908 617,526 1,510,635 1,573,515 RM'000 8152 936,705 871,562 8152 433,856 260,459 871,562 617,526 573,930 701,953 5627 2273 5627 240,059 506,217 242,773 506,217 1623 4,2 9,3 49,124 196,233 38,000 49,124 225,000 196,233 38,000 20,400 225,000 111,309 331,157 195,736 1754 3879 4,0 20,400 42,809 328,769 117,544 8,8 1,3 494 114,935 84,984 114,935 84,984 70,500 762 2,388 7,692 to Group - 502,849 - - 188,620 239,229 - 75,000 - - - 38,000 2,714 - - 30.6.2008 (restated) 1.7.2007 RM'000 to - 68,500 - 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 Company to - - 516,449 - - 502,849 - - 188,620 239,229 - 75,000 - - 13,600 - - 38,000 - - - 30.6.2008 (restated) 1.7.2007 RM'000 to - - - -

225 Sunway City Berhad Annual Report 2009 226

Sunway City Berhad Annual Report 2009

32. FinancialStatements the to Notes

(a) Borrowings (contd.) (b) borrowings. (12) monthsbutwere rolled over subsequentto thefinancial year end were term treated asshort creditsRevolving intheprevious financial year which weretwelve due to be repaid withinthenext The revolving credits bearaweighted average effective interest rate of3.93%(2008:5.06%)perannum. Details of the term loansare oftheterm Details asfollows: Type 25 Type 24 Type 23 Type 22 Type 21 Type 20 Type 19 Type 18 Type 17 Type 16 Type 15 Type 14 Type 13 Type 12 Type 11 Type 10 Type 9 Type 8 Type 7 Type 6 Type 5 Type 4 Type 3 Type 2 Type 1 31.12.2009 31 December 2009 December 31 12416 8565 2789 147,000 267,809 875,625 1,214,106 1.7.2008 RM'000 1900 20,000 129,000 2330 266,100 283,300 1550 116,880 125,500 150,000 1930 132,000 129,320 18,000 11,000 2,0 000 2,0 20,000 20,000 20,000 20,000 3,0 000 3,0 30,000 30,000 30,000 30,000 14,310 2,0 500 2,0 25,000 25,000 25,000 25,000 1,7 14,425 12,175 7,1 33,432 74,413 4,4 3,566 46,448 1,0 22,961 18,900 2,0 30,000 22,500 4,4 30,881 49,347 4,0 200 4,0 12,000 42,809 12,000 42,809 130 2,035 1,390 130 26,248 1,360 138 7,200 1,318 806 15,397 8,016 to - 38,000 - - 7,500 - - 22,000 - Group 30.6.2008 1.7.2007 (restated) RM'000 to - - - - 150,000 - 31.12.2009 1.7.2008 RM'000 Company to - - - - - 38,000 ------22,000 ------30.6.2008 1.7.2007 (restated) RM'000 to ------

32. (b) Borrowings (contd.) as follows: ofrepayment oftheterms Details andweighted average effective interest rates loansare ofthe term The maturity of the term loansare oftheterm asfollows:The maturity ye7Sunway Lagoon Type 7 Type 6 Sunway Resort Hotel Sunway Resort Type 6 Later than 5years ye5Sunway Platinum Type 5 than5years Later than 4years andnotlater ye4Sunway GrandSdn. Type 4 than4years Later than3years andnotlater ye3Sunway Medical Type 3 than3years Later than2years andnotlater ye2Sunway Medical Type 2 than2years Later than1year andnotlater ye1Sna iyBra 5.5/5.70 Sunway Berhad City Type 1 Not later than1year Loan Water Park Bhd. Sdn. Sdn. Bhd.Sdn. Success Sdn. Bhd.Success Sdn. Bhd. Centre Berhad Centre Berhad Companies Name of Notes to the FinancialStatements the to Notes 31.12.2009 average effective 12416 8565 2789 147,000 267,809 875,625 1,214,106 1.7.2008 interest rate 2009/2008 RM'000 5326 288,527 543,236 1745 91,693 177,405 3254 3679 2789 58,400 267,809 366,769 342,544 Weighted 3.75 / 3.75 10 years April 2007 April 10years 3.75 / .5/37 er August 2007 7years 3.75 / 4.44 / 5.19 40 quarterly 40quarterly 4.44 /5.19 .8/57 er September 2008 2years 3.88 /5.70 .4/53 er November 2008 5years 6.84 /5.39 .9/53 5years 7.59 /5.39 3,0 18,026 39,902 5,0 49,537 54,309 5,1 61,073 56,710 (%) to Group 30.6.2008 1.7.2007 (restated) RM'000 Repayment repayments repayment to terms Bullet 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 Company to Commencement - - - 30,000 - - 40,701 - - 17,899 - September 2009 of repayment January 2007 January May 2010 May 30.6.2008 1.7.2007 (restated) RM'000 to - - 227 Sunway City Berhad Annual Report 2009 228

Sunway City Berhad Annual Report 2009

32. FinancialStatements the to Notes (b) Borrowings (contd.) as follows (contd.): ofrepayment oftheterms Details andweighted average effective interest rates loansare ofthe term ye2 uwyCt ehd6.65/ Sunway Berhad City Type 20 ye1 uwyCt ehd5.41/5.27 Sunway Berhad City Type 19 Type 18 Kinta Sunway Resort Sunway Kinta Resort Type 18 Sunway Berhad City Type 17 ye1 Sunway Crest Sdn. Type 16 Sunway PyramidSdn. Type 14 ye1 Sunway Melawati Type 15 Sunway Sdn. Carnival Type 13 ye1 uwyCt ehd87 .513months Peluang (M) Klasik 8.75/ Type12 4.79/- Sunway Berhad City Type 11 Sunway Berhad City Type 10 ye9Sunway Quay South Type 9 Type 8 Sunway D’Mont Kiara Sunway Kiara D’Mont Type 8 Loan Sdn. Bhd.Sdn. Bhd.Sdn. Bhd. Bhd.Sdn. Bhd. Bhd. Sdn. Bhd.Sdn. Sdn. Bhd.Sdn. Sdn. Bhd.Sdn. Companies Name of average effective 31 December 2009 December 31 interest rate 2009/2008 Weighted 5.41 /5.27 .6/51 Bullet 4.06 /5.10 4.71 /5.59 5.08 / 5.61 10 years May 2006 May 10years 5.08 /5.61 .1/54 60monthly 4.71 /5.45 .5/75 2 years - by way of 7.75 /7.50 6.5 / 8.00 10 months December 2013 December 10months 6.5 /8.00 3.75 / - 44 quarterly 44quarterly 3.75 /- - / 7.75 3 quarterly 3quarterly - /7.75 (%) repayments or redemption redemption repayments repayments Repayment or by way of redemption repayment repayment repayment repayment repayment repayment repayment by way of orbullet terms Bullet Bullet Bullet Bullet Bullet Commencement of repayment February 2012 February 2011 August 2008 March 2011 March 2010 June 2009 June 2008 April 2016 April May 2009 May July 2008 July 2008

32. (c) (b) Borrowings (contd.) follows (contd.): ofrepayment oftheterms Details andweighted average effective interest rates loansare ofthe term as MMTNs. in arrears. The IslamicCoupons may (butneednot)bedetachedandtradedindependentlyofthe the IslamicCoupons. The IslamicCoupons are payable monthly, quarterly, semi-annuallyorannually case where MMTNs are issuedonaninterest-bearing basis, suchMMTNs willhave attachedto them Programme. The IslamicNotes may beissuedatparoradiscountto orpremium over par. the In RM1,000,000, provided thatsuchIslamicNotes shallnotmature beyond thetenure oftheIslamicNotes year, any numberofyears withfaceamountnotlessthanRM10,000,000,inmultipleof inbetween, andMMTNsof monthsinbetween, withtenors mininumofone(1)year to amaximumoften (10) MCPs withtenors ofmininumone(1)monthto amaximum oftwelve (12)months, any number (15) offifteen years fromperiod thedate offirstissue,October that2007. is, 8 The Company may issue The tenure oftheMCPisfor ofseven (7)years aperiod from thedate offirstissueandMMTNs is for a rates ranging from ranging 5.30%to periods from 5.75%andhave (2)to two three maturity (3)years. thepreviousDuring financial year, the Company hasissuedunsecured MMTNs whichbearinterest There isnoMCPissuedby theCompany for thecurrent financialperiod. nominal valueunsecured notes murabahahmediumterm (“MMTNs”) (collectively, the “Islamic Notes”) RM100 millionnominalvalueunsecured andRM500million murabahahcommercial paper(“MCP”) ye5Sunway GrandSdn. Type25 Sunway GrandSdn. Type 24 ye2 Sunway Tower 2Sdn. Type 23 ye2 uwyCt ehd54 .7 Bullet Sunway International 5.41/5.27 Type 22 Sunway Berhad City Type 21 Loan Bhd. Bhd. Bhd. Vacation ClubBerhad Companies Name of Notes to the FinancialStatements the to Notes average effective interest rate 2009/2008 Weighted 4.70 / 4.70 37 quarterly 37quarterly 4.70 / 8.50 / 8.50 5 years October 2007 October 5years 8.50 / 3.88 / - 8 quarterly 8quarterly 3.88 /- 4.13 /- (%) orby way of orby way of redemption redemption repayments repayments Repayment repayment repayment terms Bullet 31 December 2009 December 31 Commencement of repayment February 2010 January 2010 January March 2010 March 2009 229 Sunway City Berhad Annual Report 2009 230

Sunway City Berhad Annual Report 2009

32. FinancialStatements the to Notes

(d) (c) Borrowings (contd.) Details ofoutstandingBondsareDetails asfollows: provisional asdisclosedinNote to 41. allotmentofwarrants rights years 2.00%redeemable bonds(“Bonds”) bank guaranteed serial withupto 155,932,500detachable thepreviousDuring financial year, the Company hasissuedRM250millionnominalvalueofup to 3 Notes 13,15,16,17,24and31to thefinancialstatements. (2008:RM28,623,000) respectively asdisclosedin RM3,478,844,000 (2008:RM2,485,226,000) andRMNil as well asfixed andfloatingcharges onassetsofthe Group andofthe Company amounting to The secured borrowings oftheGroup andoftheCompany are secured by legalcharges onland Details oftheoutstandingMTNsDetails andMMTNs are asfollows: which are preferred provisions oflaw. by mandatory in allrespectsto allotherunsecured andunsubordinated obligationsoftheCompany except liabilities unsubordinated obligationsoftheCompany. The IslamicNotes willrankatleastequallyandrateably The Islamic Notes andtheIslamicCoupons constitute direct,unconditional, unsecured and nominal valueunsecured notes murabahahmediumterm (“MMTNs”) (collectively, the “Islamic Notes”) RM100 millionnominalvalueunsecured andRM500million murabahahcommercial paper(“MCP”) Total Less: Discountonissuance, netofamortisation Par valueissued MMTNs -unsecured: Less: Discountonissuance, netofamortisation Less: Discountonissuance, netofamortisation Par valueissued MTNs -unsecured: Par valueissued 31 December 2009 December 31 31.12.2009 31.12.2009 1.7.2008 1.7.2008 RM'000 RM'000 1623 237,744 196,233 2000 250,000 200,000 8,8 354,164 84,984 8,8 214,305 84,984 8,0 215,000 85,000 Group/Company Group/Company (,6)(12,256) (3,767) (6 (695) (16) to to - 139,859 (141) - - - 140,000 - 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to

33.

(b) (c) Long-term Liabilities (a) held by minority shareholders heldby minority oftheredeemable preference portion Liability shares deposits Refundable To berecognised 1year after To berecognised within1year At end offinancialperiod/year Deferred income: 1year after Redeemable Redeemable within1yearRedeemable At end offinancialperiod/year preferenceRedeemable shares issuedby asubsidiary: membership period. Deferred incomerepresents deferred timeshare membershipfees whichare to berecognised over the tenure (2)to oftwo three (3)years. depositsareRefundable inrespectofdepositsreceived for for bycontracts a subsidiaries tenancy The CRPSwasfullyredeemed in2009: (7) years2003andbearaneffective commencingApril interest rate of0.72%(2008:0.72%)perannum. The CRPSare to redeemed bemandatorily semi-annuallyatRM2.79pershare over ofseven a period Cumulative Preference Redeemable Shares shareholder. (“CRPS”) ofRM0.10eachissuedto itsminority preferenceRedeemable shares issuedby asubsidiary, Sunway Bhd., 20% PyramidSdn. comprise Later than1year and notlater than2years Not later than1year Notes to the FinancialStatements the to Notes 3() (7)(4,337) (574) 39(b) oe1.7.2008 Note (b) () 713 28,974 7,143 (d) 39 () 1,8 16,692 16,683 (c) (a) 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 RM'000 3,5 63,678 39,755 11,419 15,929 15,756 16,503 to to - 22,664 6,593 - - - 16,071 - - 6,593 (16,071) - - - 22,664 - Group Group 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to 231 Sunway City Berhad Annual Report 2009 232

Sunway City Berhad Annual Report 2009

34. 33. FinancialStatements the to Notes Advances Shareholders by ofSubsidiaries Minority shareholders’ amountingto RM5,298,000. share inasubsidiary oflosses andexchange reserve no fixed of In thepreviousterms financialrepayment. year, minority theadvances were stated netofcertain shareholders areThe ofsubsidiaries otheradvancesby unsecured, minority non-interest andhave bearing over ofsix(6)years aperiod asandwhenany isavailable. cashsurplus shallberepaidThe contribution from Profits Distributable ofSSQSBcommencingfromDecember 2007 31 practicable. extent of notlessthan5.50%(2008:5.50%)perannumshallbepaidfrom Profits theDistributable ofSSQSB to the Shareholders’Under theMusyarakah Agreement,Profit Musyarakah equivalent to shareholders profit yield Shareholders’to aMusyarakah Agreement entered into withitsshareholders. shareholders ofasubsidiary,RM127,502,000) by Sunway minority Quay Bhd.pursuant South Sdn. (“SSQSB”) ofRM127,502,000(2008: shareholders iscontribution ofsubsidiaries inadvancesby minority Included (d) Long-term Liabilities(contd.) (ii) (i) 5% Redeemable Convertible Preference Convertible 5% Redeemable Shares 5% Cumulative Preference Redeemable Shares A time after 16 May 1999. 16May time after shares preference onthebasisofoneconvertible to ordinary convertible shares ofRM1eachany dividends. ordinary These shares are redeemable incashatpartheoptionofCompany or to cumulativeon theholdersright preference to dividendsof5%whichrankinpriority Preference Convertible 5% Redeemable Shares issuedby Sunway Tunas Bhd. Sdn. confer Cumulative Preference Redeemable Shares Awasfullyredeemed in2009. redeemed untilandunlessall5%Cumulative Preference Shares Bhave beenredeemed. The 5% oftheseshares 1999,provided 15May after may be always thatneitherthewholenorpart dividends. ordinary These shares are redeemable incashatpartheoptionofCompany to cumulativeon theholdersright preferential to dividendsof5%whichrankinpriority 5% Cumulative Preference Redeemable Shares Aissuedby Sunway Bhd. DamansaraSdn. confer 31 December 2009 December 31 oe1.7.2008 Note (i ,4 7,143 7,143 (ii) (i) 31.12.2009 RM'000 713 28,974 7,143 to - 21,831 - Group 30.6.2008 1.7.2007 RM'000 to 36. 35. Hire Purchase andFinance Lease Liabilities Amounts to Due Subsidiaries RM76,689,000) whichisnon-interest bearing. rates ranging from 3.35%to 7.50%(2008:3.35%to 7.25%)perannumexcept for RM194,444,000(2008: The are amounts dueto subsidiaries unsecured, ondemand repayment and bear interest term at Present value of finance lease liabilities 25,452 9,959 473 1,192 1,296 493 9,959 25,452 11,064 28,793 Present valueoffinanceleaseliabilities Less: Future financecharges Total future minimumleasepayments Later than 5years 4years Later than 3years andnotlater than 3years Later than 2years andnotlater than 2years Later than 1year andnotlater than Not later than1year Future minimumleasepayments: 5years Later than 4years andnotlater than Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM'000 (,4) 115 2)(104) (20) (1,105) (3,341) 305 333 455 867 3,005 556 105 1,848 4,735 388 3,411 5,592 4,582 6,968 8,488 to 5 23 5 Group 30.6.2008 1.7.2007 RM'000 to 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 Company to - - 282 - - 30.6.2008 1.7.2007 RM'000 to 3 - - 233 Sunway City Berhad Annual Report 2009 234

Sunway City Berhad Annual Report 2009

36. FinancialStatements the to Notes ranging from 3.21%to 5.00%(2008:2.40% to 5.50) and3.30%to 4.00%(2008:3.30%to 4.00%)respectively. The hire purchase andfinanceleaseliabilitiesoftheGroup andofthe Company interest attracted at rates isasdisclosedin Note 49. relationship withtherelated party ofSunwaysubsidiaries HoldingsGroup, Sunway Credit Bhd. Sdn. andSunway Leasing Bhd.. Sdn. The hire purchase andfinanceleaseliabilities oftheGroup andofthe Company arerespectively due to the RM11,517,000 (2008:RM10,116,000)andRM472,000RM1,163,000)ofthegross amounts of the into for contingentrental payments. placedupontheGrouprestrictions by have into entering theseleasesandnoarrangements beenentered escalation clauses. arethatholdsthelease. Renewals attheoptionofspecificentity There are no equipment asdisclosedinNote 13. These leaseshave ofrenewal terms butnopurchase optionsand The Group hasfinanceleasesandhire purchase items contracts ofproperty,for various plantand Hire Purchase andFinance Lease Liabilities(contd.) Amount due after 12months Amount dueafter Less: Amountduewithin12months Later than 5years 4years Later than3years andnotlater than 3years Later than2years andnotlater than 2years Later than1year andnotlater than Not later than1year leaseliabilities: Analysis ofpresent value offinance 5years Later than 4years andnotlater than 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 1,6 ,7 0 700 1,192 104 473 5,979 9,959 18,369 25,452 (,8) 390 (6)(492) (369) (3,980) (7,083) 292 327 423 816 2,942 492 104 1,713 4,435 369 3,101 5,004 3,980 5,983 7,083 to 5 22 5 Group 30.6.2008 1.7.2007 RM'000 to 31.12.2009 1.7.2008 RM'000 Company to - - 274 - - 30.6.2008 1.7.2007 RM'000 to - - 3

37. Deferred taxliabilitiesoftheGroup: to offsetting are as follows: The componentsandmovements ofdeferred thefinancialperiod/yearprior taxliabilitiesandassetsduring Deferred Tax At 30June2008 Recognised inincomestatement At beginning of financial period/year 235,974 142,490 10,139 5,069 Deferred taxliabilities Deferred taxassets 10,139 offsetting as follows: Presented appropriate after 142,490 At end offinancialperiod/year 235,974 (Note 10) Recognised inincomestatement At beginning offinancial period/year Prior year adjustments At 1July2007 2009 At 31December Recognised inincomestatement At 1July2008 Notes to the FinancialStatements the to Notes 31.12.2009 equipment 1.7.2008 plant and Property, RM'000 4285 2594 930 10,139 9,350 235,974 412,845 4500 2913 930 10,139 9,350 249,113 10,139 5,070 435,020 9,350 (789) 235,974 93,484 412,845 176,871 (215 (13,139) (22,175) RM’000 (445 8,7 8 34,011 487 87,979 (54,455) 3,4 3,6 8 272,296 487 234,364 37,445 146,385 91,900 2,9 4,1 2 473,034 424 272,296 146,177 487 91,900 445,015 27,595 234,364 37,445 (,5) 1,5 6)200,738 (63) 210,651 (9,850) to Group - 208 - Investment 30.6.2008 properties properties 1.7.2007 RM'000 RM’000 to 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 RM’000 Others Others Company to - - 238,285 - - 208 238,077 - - 30.6.2008 1.7.2007 RM'000 RM’000 Total to - 235 Sunway City Berhad Annual Report 2009 236

Sunway City Berhad Annual Report 2009 Notes to the FinancialStatements the to Notes

37. Deferred Tax (contd.)

Deferred tax assets of the Group:

Tax losses and unabsorbed Accumulated Progress capital Unrealised impairment billings allowances profit losses Others Total RM'000 RM'000 RM'000 RM'000 RM'000 RM'000

At 1 July 2008 (664) (22,672) (16,707) (1,067) 4,788 (36,322) Recognised in income statement (2,563) (10,584) - (88) (10,632) (23,867) 31 December 2009 December 31 At 31 December 2009 (3,227) (33,256) (16,707) (1,155) (5,844) (60,189)

At 1 July 2007 (1,337) (21,759) (16,734) (31) (55,934) (95,795) Recognised in income statement 673 (913) 27 (1,036) 60,722 59,473 At 30 June 2008 (664) (22,672) (16,707) (1,067) 4,788 (36,322)

37. Deferred taxassetshave notbeenrecognised inrespectofthefollowing items: Deferred taxassetsoftheCompany: Deferred taxliabilitiesofthe Company: Deferred Tax (contd.) eevbe/aals 1,1) 147 (1) 3)(350) (38) (312) 11,407 (11,719) Receivables/payables allowances capital Unabsorbed Unused taxloss Other deductible temporary differences 391,935 414,938 391,935 differences temporary deductible Other capitalallowances Unabsorbed Unused taxlosses At 31 December 2009 At 31December Recognised inincomestatement At 1July 2008 Recognised inincomestatement At 1July 2007 Notes to the FinancialStatements the to Notes RM’000 (180 571 (,5) 256 (8,735) (2,576) (6,159) 5,721 (11,880) 1July 2007 (6) 29 (9) 34 (764) (374) (390) (229) (161) At - (,5) 547 (,6)(7,621) (2,164) (5,457) (5,457) - Recognised 31.12.2009 statement inincome 1.7.2008 RM’000 RM'000 4327 569,546 463,257 5,4 122,969 31,639 51,646 19,676 to Group equipment 30.6.2008 Property, plant and 1.7.2007 RM’000 RM'000 RM’000 1July 2008 45 1,4 18,085 17,640 16,298 445 15,940 16,949 358 16,577 372 (4 (3)(651) (637) (14) 8 ,0 1,787 1,700 87 At to Recognised Investment 31.12.2009 properties properties 31 December 2009 December 31 statement inincome 1.7.2008 RM’000 RM’000 RM'000 Company to - - - - 31 December 30.6.2008 1.7.2007 RM’000 RM’000 RM'000 2009 Total At to - - - - 237 Sunway City Berhad Annual Report 2009 238

Sunway City Berhad Annual Report 2009

38. 37. FinancialStatements the to Notes 15 days to 90days) and30days (2008:30days) respectively. tradecreditThe normal granted terms to theGroup andthe Company rangefrom 15days to 90days (2008: isasdisclosedinNote 49torelated thefinancialstatements. parties The are amountsdueto related unsecured andnon-interest parties bearing. The relationship withthe Trade Payables Included intradepayables areIncluded thefollowing amountsdueto related parties: trigger theutilisationofthese insufficientitems. to in companiesthathaveoflossesorwhere future arecent taxableprofits history may be 1967.DeferredAct, taxassetshave notbeenrecognised inrespectof theseitems have asthey arisen changes inshareholdings 44(5A)and5(B)oftheIncome oftherespective companiesunderSection Tax taxable profits andthe Company ofthesubsidiaries inwhichthoseitems aroseto nosubstantial issubject capitalallowances for oftheunusedtaxlossesandunabsorbed The availability offsetting againstfuture Deferred Tax (contd.) Dekon Holdings Sdn. Bhd. HoldingsSdn. GroupDekon Bhd. Sdn. Group Sunway Education Group Group Selangor Perbadanan Negeri Kemajuan Sunway Technology Bhd. Sdn. Group Sunway HoldingsGroup 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 3,4 27,271 1,892 36,846 142 28,853 10,571 56 to - 36 - 1,262 - Group 30.6.2008 1.7.2007 (restated) RM'000 to 1 31.12.2009 1.7.2008 RM'000 Company to 9 365 9 - - 30.6.2008 1.7.2007 (restated) RM'000 to - - - (a)

39. due to related parties: payables andamountsdueto andconsultantsare contractors thefollowing insundry amounts Included The relationship withtheabove isasdisclosed inNote 49 to related thefinancial statements. parties Other PayablesOther acquisitionofland Balance considerationfor Deferred income shareholders ofsubsidiaries Dividends payable to minority property development costs property Progress billingsinrespectof deposits Refundable Accruals by asubsidiary preference shares issued Cumulative redeemable andconsultants Amounts dueto contractors Sundry payables Sundry Adasia Bhd. (M)Sdn. Selangor Perbadanan Negeri Kemajuan Group AraBerhad Korporasi Tunas Sungai Muda Bhd. HoldingsSdn. GroupDekon Bhd. Sdn. Group Sunway Education Group Sunway Technology Bhd. Sdn. Group Sunway HoldingsGroup Notes to the FinancialStatements the to Notes () 54 4,337 574 (b) () 1947 1755 6,0 59,877 4,869 60,507 33 11,469 147,545 (a) 159,487 (a) oe1.7.2008 Note 31.12.2009 1.7.2008 31.12.2009 RM'000 2,1 011 76 2,868 766 30,121 27,312 666 611 13 2,882 6,191 3,928 6,676 RM'000 3135 4128 7,8 81,023 76,481 421,218 341,325 11 423 111 6,5 129 109 912 19,602 1,049 14,921 61,249 180,311 62,753 98,644 67 26 23 to 725 5,707 7,205 1,193 Group to Group - 1,129 - - 16,071 - 30.6.2008 1.7.2007 30.6.2008 RM'000 (restated) 1.7.2007 RM'000 to - - - to - 31.12.2009 31 December 2009 December 31 31.12.2009 1.7.2008 RM'000 1.7.2008 RM'000 Company to Company 2 4 289 4 - - - to - - - - - 632 4 30.6.2008 30.6.2008 1.7.2007 (restated) 1.7.2007 RM'000 RM'000 to to ------239 Sunway City Berhad Annual Report 2009 240

Sunway City Berhad Annual Report 2009

40. 39. FinancialStatements the to Notes Share Capital (b) PayablesOther (contd.) Ordinary shares ofRM1each Ordinary Authorised Preference Shares ofRM1each 6.6% Cumulative Convertible At beginning offinancialperiod/year shares ofRM1each: Ordinary Issued andfullypaid pursuantto ESOS theperiod/year Issued during prun oeecs fwrat () 1 3 ,7 1 2,477 31 2,477 31 (a),41 At endoffinancialperiod/year pursuantto exercise ofwarrants theperiod/year Issued during Included indeferredIncluded incomeoftheGroup are: Deferred timeshare membershipfees (Note 33) oe1.7.2008 Note (a),(b) 31 December 2009 December 31 31.12.2009 10000 10000 10000 1,000,000 1,000,000 1,000,000 1,000,000 Number ofshares of 8000 8000 8000 800,000 800,000 800,000 800,000 2000 2000 2000 200,000 200,000 200,000 200,000 4999 4344 4999 463,444 469,919 463,444 469,919 4992 4999 4992 469,919 469,952 469,919 469,952 Group/Company '000 RM1each to 2 398 2 3,998 2 3,998 2 30.6.2008 1.7.2007 '000 to 31.12.2009 31.12.2009 1.7.2008 RM'000 1.7.2008 RM'000 Group/Company 54 4,337 574 to Amount to Group 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to 40.

(a) the Company’s residual assets. entitled to onevote pershare atmeetingsoftheCompany. shares rankequallywithregard Allordinary to shares areThe holders ofordinary entitledto receive dividendsasdeclared from timeto timeandare Share Capital (contd.) (b) existing ordinary shares oftheCompany.existing ordinary passuinallwiththe rankpari sharesrespects thefinancialperiod issuedduring The ordinary new (ii) (i) RM469,918,532 to RM469,951,432by way oftheissuanceof: thefinancialperiod, the During Company increased itsissuedandpaid-upshare capitalfrom (v) (iv) (iii) (ii) (i) The mainfeatures are: oftheScheme isforScheme eligible employees (includingExecutive Directors) oftheCompany anditssubsidiaries. September 2003 and is governed by the by-laws approved by the shareholders on 26 August 2003. The The Employees’ Sunway Berhad City Scheme”) Share (“the OptionScheme wasimplemented on22 of RM4.87 per ordinary share forof RM4.87perordinary cash. shares ofRM1eachpursuantto theexercise ordinary 30,900 new atanexercise ofwarrants price for cash;and Employees’ Share share atanexercise OptionScheme respectively ofRM1.00perordinary price shares ofRM1eachissuedto eligible ordinary 2,000 new employees oftheGroup underthe valid for days from acceptanceby anemployeethedate and ofoffer; for ofthirty aperiod andtheoffer shallbe andlengthofservice basedonseniority,shall bedetermined performance The numberofoptionsto beoffered to aneligible employee inaccordanceScheme withthe istenThe durationoftheScheme (10)years from thedate ofitscommencement; shares, whichever ishigher; with adiscountofnotmore than10%ifdeemedappropriate ortheparvalueofCompany’s ofthe Company’sweighted price average market five-day shares atthetimeoffer is granted payableThe uponexercise price ofanoptiongranted willbebasedonthe undertheScheme intheScheme; participate Only Directors andeligible employees of theCompany andofthe Group willbeeligible to Scheme; authorities, fromrelevant regulatory timeto time)atthetimeofoffer ofoptionsunderthe share capitaloftheCompany (or suchotherhigherpercentage as may by bepermitted the The total shares number ofnew to beoffered shallnotexceed 10%oftheissuedandpaid-up Notes to the FinancialStatements the to Notes 31 December 2009 December 31 241 Sunway City Berhad Annual Report 2009 242

Sunway City Berhad Annual Report 2009

40. FinancialStatements the to Notes

(b) Share Capital (contd.) movements in,share theperiod/year: optionsduring The following tableillustrates thenumberandweighted average exercise of, (WAEP) price and years provided thatnooptionsshallbeexercised oftheScheme. beyond thedate ofexpiry yearOptions exercisable butnotexercised to forward the subsequent inaparticular canbecarried (vi)

WAEP (RM) Fifth offer Fourth offer First offer 2009 # * The options granted may beexercised inthefollowing manner: 20,000 andabove Below 20,000 Number ofoptionsgranted 30% ortheremaining numberofoptionsunexercised 40% or20,000options, whichever ishigher Outstanding Outstanding at 1July 290 - () 44 254 2,514 2,514 (454) (2) - 2,970 286 - - (5) ,8 2,382 2,382 (454) - - 2,836 '000 .7 .0 48 .5 4.65 4.65 4.82 1.00 - 4.67 3 - - - 36 9 2 - (2) - 98 Granted '000 31 December 2009 December 31 Maximum percentageMaximum oftotal optionsexercisable Exercised Year 1 100% 40%* '000 Forfeited '000 Year 2 30% - Outstanding Outstanding December at 31 '000 3 36 36 9 96 96 Exercisable Year 3 30%# December - at 31

'000

40. (b) Share Capital (contd.) Details of share options outstanding at the end of the period/year: ofshareDetails optionsoutstandingattheendofperiod/year: average share atthedate ofexercise price wasRM3.12(2008:RM4.36). shares atanaverage ofRM1.00(2008:RM1.05)each. 3,998,000) ordinary price The related weighted Share optionsexercised thefinancial period/year during resulted intheissuanceof2,000(2008: WAEP (RM) Fifth offer Fourth offer eodofr ,2 140 - -(1,420) 1,420 Third offer offer Second First offer 2008 Fifth offer Fourth offer Third offer offerSecond First offer 31 December 2009/30June2008 Outstanding Outstanding Notes to the FinancialStatements the to Notes at 1July 417 297 (,9) 16 290 2,970 2,970 (176) (3,998) 2,987 4,157 272 - (,7)(61) (2,573) - 2,732 ‘000 .5 48 .5 35 .7 4.67 4.67 3.50 1.05 4.80 1.05 5 - ()- (5) - 5 - 3 - - 36 - - 291 - (1) ,3 2,836 2,836 (115) - 2,951 - Granted '000 Exercised WAEP (RM) '000 3.00 4.82 1.86 1.15 1.00 Forfeited '000 Outstanding Outstanding 31 December 2009 December 31 at 30June 24.12.2007to 21.9.2013 21.5.2008to 21.9.2013 14.5.2004to 21.9.2013 31.1.2004to 21.9.2013 22.9.2003to 21.9.2013 ‘000 3 36 36 9 98 98 Exercise period - - Exercisable at 30June ‘000 - - 243 Sunway City Berhad Annual Report 2009 244

Sunway City Berhad Annual Report 2009  41. 40. FinancialStatements the to Notes

Warrants During thefinancialperiod/year,During themovements inthe Company’s are warrants as follows: each intheCompany held. warrant share atanexercise for ofRM4.87perordinary price every share for 2017,to ofRM1.00 subscribe ordinary on4October including theissuedate 1new andexpiring entitletheregisteredThe warrants holder, atany of10years timewithinaperiod commencingonand shares ofRM1.00eachheldintheCompanyordinary intheprevious financial year. three for ofRM0.15perwarrant (3) for atanissueprice cashonthebasisofone(1)warrant warrants every There is issued no bywarrant the Company for the current financial period. The Company issued 155,805,276 (b) Share Capital (contd.) At endoffinancialperiod/year (Note 40)/(Note 42) 153,328 Exercised theperiod/year during theperiod/year Issued during At beginning offinancialperiod/year the optiongrant were into incorporated themeasurement offairvalue. indicative offuture trends, outcome. betheactual whichmay Nootherfeatures alsonotnecessarily of thatmaypatterns occur. is reflectstheassumptionthathistorical volatility Thevolatility expected lifeThe expected indicative dataandisnotnecessarily ofexercise ofthe optionsisbasedonhistorical value ofshare optionsmeasured atgrant date andtheassumptions are asfollows: into andconditionsuponwhichtheoptionswere accounttheterms model, taking granted. The fair The fair valueofshare optionsgranted ontheprevious financial year wasestimated usingabinomial Expected dividendyield(%) Expected freeRisk rate (%) lifeExpected (years) (%) volatility Expected Weighted average share (RM) price 2008(RM) - 21May 2007(RM) - 24December Fair valueofshare optionsatthefollowing grant date: (RM) Option price 31.12.2009 31 December 2009 December 31 1.7.2008 Number ofwarrants 1327 1338 2,9 23,000 22,995 153,328 153,297 Group/Company ‘000 (1 (2,477) (31) 2007/2017 to - 155,805 - 30.6.2008 1.7.2007 '000 to - 23,000 - Fifth offer Fourth Offer Fourth Fifth offer ESOS -30.6.2008 31.12.2009 46.27% 3.46% 2.7% 1.7.2008 4.26 3.08 3.00 RM'000 5 Group/Company - to ()(371) (5) Amount - 23,371 - 30.6.2008 1.7.2007 RM'000 42.11% 3.46% 2.7% 4.99 4.02 4.82 to - 5 - 43. 42. Reserves Share Premium At end offinancialperiod/year Transfer from (Note 41) warrants pursuantto exercise ofwarrants shares fromArising ordinary issuanceofnew pursuantto ESOS shares fromArising ordinary issuanceofnew At beginning offinancial period/year Total reserves profitsRetained reserve: Distributable Total reserves non-distributable translationreserve Foreign currency Share optionreserve Capital reserve reserves: Non-distributable Notes to the FinancialStatements the to Notes 8 b ,5 ,5 ,5 3,358 3,358 3,358 3,358 8,(b) oe1.7.2008 Note () 12891 8810 2,8 243,630 22,583 838,150 1,278,981 (d) () 7,6 26,918 73,960 (a) () 1,3 11,703 14,233 (c) 31.12.2009 13052 8019 2,4 246,988 25,941 880,129 1,370,532 RM'000 9,5 199 338 3,358 3,358 41,979 91,551 to Group 30.6.2008 1.7.2007 RM'000 to 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 1.7.2008 RM'000 RM'000 3887 308,733 308,857 298,559 308,733 Group/Company 19 9,586 119 Company to to 5 371 5 - 217 - - - 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to - - 245 Sunway City Berhad Annual Report 2009 246

Sunway City Berhad Annual Report 2009

43. FinancialStatements the to Notes

(a) are asfollows: ofreserve The nature ofeachcategory andpurpose isdisclosedinthestatements ofchangesinequity. ofreserves The movement ineachcategory (contd.)Reserves (b) (c) (d) redeemable preference subsidiaries. shares incertain representsCapital reserve thecreation from arising ofcapitalredemption redemption reserve of Capital reserve share options. received from ismadeupofthecumulative employees valueofservices reserve recorded ongrant of The represents share share optionreserve theequity-settled optionsgranted to employees. This Share optionreserve the foreign operation. or entity ofthereporting item currency isdenominated ineitherthefunctional where themonetary oftheGroup’s items whichform part fromarising monetary netinvestment inforeign operations, from thatoftheGroup’s presentation isalsousedto currency. record It theexchange differences translation ofthefinancialstatements of foreign currencies are operationswhosefunctional different The foreign isusedto record translationreserve currency exchange differences from arising the Foreign translation currency reserve of itsentire retained profitsDecember 2009. asat31 incomeaccountto 108andthebalanceintax-exempt frankthepayment ofdividendsout Section to theagreement Board, Revenue Subject oftheInland theCompany hassufficienttax credit under Board. approximately to theagreement Revenue RM143,231,000(2008:RM143,231,000), subject oftheInland As 2009,theCompany at31December hastaxexempt profits available of for distribution defined underthe Finance Bill, 2007. shareholdings 2009to cashdividendpaymentsaccount asat31December distribute as to ordinary thetransitionalperiod, theCompanyDuring 108 canutilisethetaxcredit balanceintheSection law alsoprovides 2007. inasat31December 108balanceto for belocked theSection Tax 1967andoptto Act, pay dividendsunderthe singletiersystem. This proposed changeinthetax also have anirrevocable optionto disregard 108oftheIncome thetaxcredit balanceunderSection companies to dividendsto pay theirshareholders franked underlimited circumstances. Companies However, there ofsixyears, 2013,to willbeatransitionalperiod on31December allow expiring credited by ordistributed theCompany willbeexempted from taxinthehandsofshareholders. taxondividendpaid,to deduct credited to ordistributed itsshareholders, and suchdividendspaid, year ofassessment2008.Undertheproposed singletiersystem, theCompany shallnotbeentitled announced theproposal to introduce thesingletiertaxsystem for companieseffective from the Presently, theBudget2008,Government companiesadoptthefullimputationsystem. Malaysian In profitsRetained 31 December 2009 December 31 45. 44.

Operating Lease Agreements Interests Minority (a) (a) subsidiaries: interests are inminority thefollowingIncluded preference shareholders shares ofcertain issuedto minority (b) (c) as atthebalancesheetdate butnotrecognised asliabilitiesare asfollows: The future aggregate for operatingleasecontracted minimumleasepayments undernon-cancellable use ofapieceleaseholdland. The Company for hasentered operatingleaseagreement the into withasubsidiary anon-cancellable The Company aslessee 5% Cumulative Preference Redeemable Shares “A” wasfullyredeemed in2009. dividends. ordinary These shares are redeemable atparandincashany 1999. 16May timeafter The confer onitsholderscumulative preferential to dividendsof5%perannumwhichrankinpriority shareholders ofSunway Bhd. (2008:RM24,014,000). DamansaraSdn. amountingto RMNil These shares ofthe5%cumulative redeemable preference portion The equity shares “A” issuedto minority any 1999. 16May timeafter preferenceon thebasisofoneconvertible share share ofRM1eachfor ofRM1eachat oneordinary dividends. ordinary These shares areshares redeemable into ordinary atparandincashorconvertible confer onitsholderscumulative preferential to dividendsof5%perannumwhichrankinpriority shareholders ofSunway Tunas Bhd. Sdn. amountingto RM7,857,000(2008:RM7,857,000). These shares ofthe5%cumulative redeemable preference convertible portion The equity shares issuedto minority of the subsidiary atany time. of thesubsidiary and are redeemable atapremium shares ofRM0.99pershareattheoption into ordinary orconvertible Bhd.Sdn. amounting to RM566,000(2008:RM566,000). shares to ordinary These shares rankinpriority preference convertible Redeemable Hotel shareholders shares ofSunway issuedto minority Resort Later than1year and notlater than5years Not later than1year Notes to the FinancialStatements the to Notes 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 30 130 52 390 312 7 78 78 Company to 30.6.2008 1.7.2007 RM'000 to 247 Sunway City Berhad Annual Report 2009 248

Sunway City Berhad Annual Report 2009

46. 45. FinancialStatements the to Notes

to thefinancial statements. incomerecognisedRental inprofit thefinancialperiod/yearisdisclosedinNote 3andNote orlossduring 5 Capital Commitments (b) Operating Lease Agreements (contd.) Later than 1year andnotlater than5years Not later than 1year Property, plant andequipmentinvestment properties Approved for butnotcontracted Property, plantandequipmentinvestment properties Freehold land Approved for andcontracted Capital expenditure balance sheetdate butnotrecognised asreceivables, are asfollows: operatingleasesoftheGroup andtheCompanyand othernon-cancellable for contracted asatthe The future minimumleasepayments receivable operatingleases undertheabove non-cancellable within1year.lease term company.with asubsidiary The leasewiththesubsidiay company hasaremaining non-cancellable The Company hasentered operatingleaseagreements into onaleaseholdproperty anon-cancellable have leasewithin1year. aremaining non-cancellable third party isasdisclosedinNote 49to thefinancialstatements.the related party The leasewithSEGGroup anda Education Group Bhd. Sdn. Group (“SEGGroup”), andathird party. arelated party The relationship with The Group hasentered operatingleaseagreements withSunway into onproperties anon-cancellable The Group andtheCompany aslessors 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 1,6 056 5 520 55 60,556 17,266 1,6 898 5 312 55 28,938 17,266 to - 31,618 - Group 30.6.2008 1.7.2007 RM'000 to 31.12.2009 31.12.2009 1.7.2008 1.7.2008 RM'000 RM'000 4,3 93,814 45,930 86,971 84,499 42,246 42,246 364 6,843 3,684 Company to to - 208 - - 2,472 - Group 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to

48. 47.

(i) SignificantInter-Company Transactions Contingent Liabilities (ii) (iii) (iv) Medical services expensespayable to asubsidiary services Medical Hotel andrelated expensespayable to asubsidiary payableRental to subsidiaries Purchase stocks from asubsidiary ofproperty Interest payable to subsidiaries fees payableAccounting to asubsidiary services feeManagement receivable from asubsidiary receivableRental from subsidiaries Interest receivable from subsidiaries Dividend receivable from jointlycontrolled entity Dividends receivable from subsidiaries respectoftradeandcontracts Guarantees given in to third parties facilitiesgranted to subsidiaries financialinstitutions for banking Guarantees given to licensed Unsecured: Note 19to thefinancialstatements. The interest receivable arose from theamountsduefrom subsidiaries. Further detailsare disclosedin Group. andconditions similarto thoseoffered prices market to majorcustomers ofthe Company andthe The rental receivable from arose subsidiaries from rental ofpremises atprevailing to subsidiaries 35 to thefinancialstatements. The interest payable arose from theamounts dueto subsidiaries. Further detailsare disclosedinNote prices at terms similarto atterms thoseofferedprices to majorcustomers ofthe Company andtheGroup. The rental payable arose to subsidiaries from rental ofpremises from atprevailing subsidiaries market Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM'000 17,101 17,101 to - Group 30.6.2008 1.7.2007 RM'000 (v ,4 1,432 2,643 4,144 10,452 (iv) (2,718) (iii) (26,653) (4,149) (38,976) (ii) (i) oe1.7.2008 Note to - 1,6 399,858 15,368 - - 910 - - 1,5 399,858 14,458 - 31.12.2009 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 RM'000 (485 (27,400) (71,120) (34,825) (58,929) 105 627 1,095 394 740 240 Company Company to to - 480 - 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 RM'000 to to - - - - 249 Sunway City Berhad Annual Report 2009 250

Sunway City Berhad Annual Report 2009 49. FinancialStatements the to Notes SignificantRelated Party Transactions (i) principally payable to/(receivableprincipally from) inrespectof: therelated parties theperiod/year,During related parties. theGroup withcertain transacted areThe transactions (d) Adasia (M) Advertising fees Advertising Adasia (M) (d) Sunway Nature oftransactions (a) Name ofCompanies (c) Perbadanan Construction costs Construction Perbadanan (c) Sunway (b) "dsa)Recreational services services Medical ("Adasia") Bhd. Sdn. ("PKNSGroup") Group Selangor Negeri Kemajuan fees Management Group Holdings Group") Rental income Rental Group") Hotel andrelated services ("STSB fees Group andconsultancy Bhd. Sdn. Technology Property managementservices Property income Rental ofmachinery Hiring machineries ofconstruction Rental Purchase ofbuildingmaterials Lease rental premium Insurance costs Construction Property managementservices Property Recreational services services Medical andtourTicketing sales systems products Information Sales ofdevelopment properties managementservices Property services Medical andtourTicketing sales Recreational services Hotel and related services income Rental level agreement services Service 31 December 2009 December 31 31.12.2009 1.7.2008 RM'000 1964 252,511 119,674 1,7 6,062 10,472 (,5)(721) (2,570) (1,054) (1,912) (4,010) (5,714) (2,336) (9,478) 159 1,580 1,549 608 3,753 6,088 24,900 4,377 2,507 6,992 147 1,026 1,427 (6)(101) (167) (8)(379) (488) (171) (107) (292) (443) 92 1,593 932 179 (12) (0 (68) (90) (11) (38) (18) (19) (87) (55) (65) 5 341 52 to (3) (1) (2) - Group 30.6.2008 1.7.2007 RM'000 to (2) 6 1 - - - - 49. SignificantRelated Party (contd.)Transactions i Jef-San (i) Architectural consultancy Akiprima Akitek (h) costs Construction Holdings Dekon (g) e Sunway Nature oftransactions (e) Name ofCompanies (f) Asian Strategy Ticketing andtour Ticketing sales Asian Strategy (f) Bhd. ("Jef-San") Sdn. Enterprise income Rental ("AASB") Bhd. Sdn. andtour Ticketing sales Group") Landscapingservices ("DHSB Group Bhd. Sdn. income Rental ("ASLI") Recreational services Bhd. Sdn. Incorporated & Leadership Medical services services Medical &Leadership Sdn. Bhd. Hotel and related services Hotel andrelated services andtour Ticketing sales ("SEGGroup") income Rental Bhd. Sdn. Group Education Notes to the FinancialStatements the to Notes Medical services Medical level agreement services Service managementservices Property Hotel and related services income Rental Recreational services services Medical Renovation works design works Interior Conference andseminar Property managementservices Property services Medical Recreational services 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 1418 112,830 194,168 (137 (28,564) (41,347) 1,2 20,229 10,424 (,9)(1,606) (518) (2,393) (1,592) 105 1,012 1,055 800 3,016 8,010 493 9,518 4,983 (7)(108) (124) (657) (175) (110) (865) (0)(68) (108) 18 30 108 (18) (26) (31) (23) (29) (40) (20) (22) (30) to (2) (6) (2) (4) ()(12) (5) (4) Group 30.6.2008 1.7.2007 RM'000 to (6) (1) (1) (1) (6) - - - 251 Sunway City Berhad Annual Report 2009 252

Sunway City Berhad Annual Report 2009

49. FinancialStatements the to Notes

(i) SignificantRelated Party (contd.)Transactions (f) (e) (d) (c) (b) (a) areThe deemedrelated above parties to theGroup asfollows: Ling inASLI. Dr. Jeffrey Cheah Fook Lingisthealternate director to Dato’Tan Sri Dr.Seri Jeffrey Cheah Fook Cheah Fook Lingisadirector ofASLI.Sarena Cheah Yean Tih, beingthechildof Tan Dato’ Sri Seri (Dr.) DatinSeri Sri Cheng, SusanCheahSeok beingthe spouse of Tan Dato’ Sri Dr. Seri Jeffrey common directorship inASLIandtheCompany aswell asinterests inASLIandtheGroup. Puan ASLI isdeemedrelated of to theGroup by virtue Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling’s Jeffrey Cheah Fook Ling. have deemedinterests inSEGGroup. Evan Cheah Yean Shinisthechildof Tan Dato’ Sri Dr. Seri Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling, Sarena Cheah Yean Tih and Evan Cheah Yean Shin and childof Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling arerespectively directors ofSEGGroup. (Dr.)Puan DatinSeri Sri ChengandSarena SusanCheahSeok Cheah Yean Tih, beingthespouse Ling’s MHashim’s andDatukRazman commondirectorships inSEGGroup andtheCompany. SEG Group isdeemedrelated of to theGroup by virtue Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Sarena Cheah Yean Tih andEvan Cheah Yean Shinare directors ofAdasia. Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling alsohaverespectively deemedinterests in Adasia. Cheng, Sarena Cheah Yean Tih andEvan Cheah Yean Shin, beingthespouseandchildren of deemed interest inAdasia andinterest intheGroup. (Dr.) Puan DatinSeri Sri SusanCheahSeok Adasia isdeemed related of to theGroup by virtue Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling’s oftheCompany. Bhd.,Damansara Sdn. a60%owned subsidiary PKNS Group isdeemedrelated ofitssubstantialshareholding to theGroup inSunway by virtue Yean Tih andEvan Cheah Yean Shinare directors ofSTSB Group. STSB Group andtheGroup. (Dr.) Puan DatinSeri Sri Cheng, SusanCheahSeok Sarena Cheah being thespouseof Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Lingalsohasdeemedinterests in Ling’s interests inSTSB Group andtheGroup. (Dr.) Puan DatinSeri Sri Cheng, SusanCheahSeok STSB Group isdeemedrelated of to theGroup by virtue Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Holdings Group. and alternate director ofSunway inseveral subsidiaries Holdingsandhehasinterest inSunway (Dr.) DatinSeri Sri ChenginSunway SusanCheahSeok aswell asadirector LagoonClubBerhad Shin, thechildof Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling, isthealternate director to Puan Company andshehasinterests inSunway HoldingsGroup andtheGroup. Evan Cheah Yean Dr.Seri Jeffrey Cheah Fook Lingisadirector andalternate director ofthe inseveral subsidiaries Sunway HoldingsGroup andtheGroup. Sarena Cheah Yean Tih, beingthechildof Tan Dato’ Sri ofSunway Bhd., Holdings. Sdn. awhollyownedManagement Shehasinterests subsidiary in oftheCompany andisadirectorLagoon ClubBerhad,ofSunway 83.5%owned subsidiary Cheng, beingthespouseof Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling, isadirector ofSunway interests inSunway HoldingsGroup andtheGroup. (Dr.) Puan DatinSeri Sri SusanCheahSeok Cheah Fook Ling’s commondirectorship inSunway HoldingsandtheCompany aswell as Sunway HoldingsGroup isdeemedrelated of to theGroup by virtue Tan Dato’ Sri Dr. Seri Jeffrey 31 December 2009 December 31 49.

(i) SignificantRelated Party (contd.)Transactions (ii) 2009 are disclosedinNotes 26,27,38and39to thefinancialstatements. asat31December regarding transactions Information from outstandingbalancesarising related party (i) (h) (g) follows: are theperiod The as remuneration managementduring ofdirectors andothermembersofkey Share-based payment Share-based Defined contribution plan contribution Defined Post-employment benefits: Short-term employee benefits Short-term the spouseandchildren of Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling respectively. (Dr.)Datin Seri Cheng, SusanCheahSeok Sarena Cheah Yean Tih andEvan Cheah Yean Shinare (Dr.) DatinSeri Sri Chengare SusanCheahSeok substantialshareholders Puan ofJef-San. Sri Tih andEvan Cheah Yean ShininJef-San. Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Lingand Puan Jeffrey Cheah Fook Ling, (Dr.) Seri Datin Puan Sri Seok Cheng, SusanCheah Sarena Cheah Yean isdeemedrelatedJef-San ofthedirectorships to of theGroup by virtue Tan Dato’ Sri Dr. Seri Cheng whoisthespouseof Tan Dato’ Sri Dr. Seri Jeffrey Cheah Fook Ling. shareholding inAASB. Cheah Teik Jinisthebrother (Dr.) ofPuan DatinSeri Sri SusanCheahSeok AASB isdeemedrelated ofCheah to theGroup by virtue Teik Jin’s directorship andsubstantial DHSB Group andinterest intheCompany. DHSB Group MHashim’s isdeemedrelated ofDatukRazman to theGroup by virtue interest in Notes to the FinancialStatements the to Notes 31.12.2009 1.7.2008 RM'000 1,6 ,7 013 6,526 10,173 9,471 15,467 1,6 ,2 ,7 5,890 9,170 8,529 13,965 152 93 103 627 1,003 933 1,502 to - Group 30.6.2008 1.7.2007 RM'000 to 9 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 Company to - 30.6.2008 1.7.2007 RM'000 to 9 253 Sunway City Berhad Annual Report 2009 254

Sunway City Berhad Annual Report 2009

50. 49. FinancialStatements the to Notes Subsidiaries andAssociates Details of the subsidiaries andassociates are ofthesubsidiaries Details asfollows: (ii) SignificantRelated Party (contd.)Transactions a Subsidiariesof (a) Name ofcompanies employees oftheGroup. The share optionswere granted andconditionsasthose offered onthesameterms to other been granted thefollowing numberofoptionsundertheESOS: Executive directors oftheGroup andtheCompany managementhave andothermembersofkey Included in the total key managementpersonnelare: inthetotal key Included At endoffinancialperiod/year Resigned Exercised Granted ietr'rmnrto Nt ) 400 895 875 5,960 8,725 8,905 14,020 Directors' remuneration (Note 9) At beginning offinancialperiod/year Bintutara Sdn. Bhd.Bintutara Sdn. Sunway Berhad City icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Malaysia Property Property Malaysia 31.12.2009 31 December 2009 December 31 1.7.2008 RM'000 to Group 30.6.2008 andinvestment 1.7.2007 development RM'000 holding to 31.12.2009 31.12.2009 1.7.2008 1.7.2008 RM'000 Group/Company (150) ownership interest '000 10 1,510 150 Company to to Proportion of Proportion - 150 - - (1,510) - - 150 - 0 100 100 % % % 30.6.2008 30.6.2008 1.7.2007 1.7.2007 RM'000 '000 to to - 50. Subsidiaries andAssociates (contd.) a Subsidiariesof (a) Name ofcompanies Sunway Travel Bhd. Sdn. Berhad Sunway LagoonClub Bhd. Sdn. Sdn. Bhd. Sdn. Sunway Resort Hotel Sunway Resort Sunway Bhd. LagoonSdn. Sunway Properties City uwyPrmdSn h. aasa Sopn al 5 52 52 Shoppingmall Malaysia Sunway Bhd. PyramidSdn. Bhd. (M)Sdn. Konsep Objektif Konsep Bhd. Sdn. Sunway (Penang) City Bhd. Sdn. Sunway Hotel (Penang) Sunway Kinrara Sdn. Bhd.Sunway Sdn. Kinrara Sunway (contd.) Berhad City Notes to the FinancialStatements the to Notes icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Mlyi rvlad 10 100 100 83.5 Travel and 83.5 Malaysia Recreational Malaysia Mlyi oe uies 5 52 52 Hotel business Malaysia Mlyi Theme park Malaysia Property Malaysia Mlyi Investment Malaysia Malaysia Property Property Malaysia Malaysia Malaysia Property Property Malaysia andinvestment development development development clubfacilities investment tour agent operator operator business holding holding holding Hotel and 31 December 2009 December 31 ownership interest Proportion of Proportion 10 100 100 10 100 100 10 100 100 10 100 100 5 51 51 7 70 70 % % % 255 Sunway City Berhad Annual Report 2009 256

Sunway City Berhad Annual Report 2009 50. FinancialStatements the to Notes Subsidiaries andAssociates (contd.) a Subsidiariesof (a) Name ofcompanies Sunway Damansara Sdn.Bhd. Malaysia Property Property Malaysia Sunway DamansaraSdn.Bhd. Sunway City (Ipoh) Sdn. Bhd. Malaysia Property Property Malaysia Bhd. Sdn. Sunway (Ipoh) City (Cambodia) Bhd. Sdn. Sunway City Suncity SSC Sdn. Bhd. SSCSdn. Suncity Bhd. Sdn. Sunway Holdings Medical Bhd. Sdn. Pembinaan Objektif(M) Sunway Bhd. GrandSdn. Sunway Sdn. Bhd. Malaysia Dormant Dormant Malaysia Sunway Bhd. Sdn. Monorail kiiMrni()Sn h. aasa Ivsmn 0 100 100 Investment Malaysia Bhd. (M)Sdn. Meranti Ekuiti Emerald Tycoon Bhd. Sdn. Ltd. Sunway (contd.) Berhad City Sunway Hospitality Holdings British British Sunway Holdings Hospitality icroain atvte 09 2008 2009 activities incorporation Vri sad management Virgin Islands Cutyo Principal of Country Mlyi netet 6 76 76 Investment Malaysia Mlyi rvso f 0 100 100 Provision of Malaysia Mlyi netet 10 100 100 Investment Malaysia Mlyi netet 10 100 100 Investment Malaysia Malaysia Property Property Malaysia Mlyi netet 10 100 100 Investment Malaysia 31 December 2009 December 31 andinvestment andinvestment shared services shared services development development development holding holding holding holding holding holding holding Hotel ownership interest Proportion of Proportion 10 100 100 10 100 100 10 100 100 6 60 60 6 65 65 % % % 50. Subsidiaries andAssociates (contd.) uwyCt Spr)Pe t. igpr rmto 10 100 100 Promotion Singapore Sunway (S'pore) City Pte. Ltd. # a Subsidiariesof (a) Name ofcompanies Sunway IFM Bhd. Sdn. Bhd. Sdn. uwyFclt aaeet aasa Building Malaysia Sunway Facility Management Stellar Bhd. Destiny Sdn. Hotel Bhd.) LandSdn. Resort asSunway (formerlyknown Sunway FitOut Bhd. Sdn. Falcrest Bhd.) Sdn. as Bhd. Sdn. (formerlyknown Sunway Monash Residence Malaysia Dormant Dormant Malaysia Sunway Residence Monash Area Bhd. StarSdn. Sunway Tunas Bhd. Sdn. Sunway (contd.) Berhad City Sunway Semenyih Sdn. Bhd. Malaysia Property Property Malaysia Sunway SemenyihBhd. Sdn. Notes to the FinancialStatements the to Notes icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Mlyi Building Malaysia Malaysia Property Property Malaysia Mlyi rvso f 10 100 100 Provision of Malaysia Mlyi rpry 0 100 100 Property Malaysia Malaysia Property Property Malaysia and marketing management management management development development development services and services investment investment facilities facilities services services holding fit-out fit-out 31 December 2009 December 31 ownership interest Proportion of Proportion 10 100 100 10 100 100 10 100 100 10 70 100 7 70 70 7 70 70 % % % 257 Sunway City Berhad Annual Report 2009 258

Sunway City Berhad Annual Report 2009 50. FinancialStatements the to Notes Subsidiaries andAssociates (contd.) a Subsidiariesof (a) Name ofcompanies Rich Rich Worldclass Bhd. Sdn. ABS Real EstateABS Real Berhad Bhd.) Sdn. Services Sunway Security as Bhd. (formerlyknown uwyLiueSrie d. Mlyi rvso f 10 100 100 Provision of Malaysia Sunway Sdn. Leisure Services Crest Bhd.) Sdn. asSplendid (formerlyknown Sunway Residence Sdn. Bhd. Malaysia Property Property Malaysia Sunway Bhd. Sdn. Residence Bhd. Sdn. Sunway Healthy Lifestyle Bhd. Sdn. Sunway Platinum Success Sunway Tower Bhd. 2Sdn. ClubBerhad uwyItrainlVcto Mlyi iesaig 10 100 100 Time sharing Malaysia Sunway International Vacation Sunway Crest Bhd. Sdn. Sunway (contd.) Berhad City Menara SunwayMenara Bhd. Sdn. Property Bhd. Sdn. Gambier.Sunway Bukit Malaysia Sunway Bhd. Sdn. Melawati icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Malaysia Dormant Dormant Malaysia Mlyi nmmes 0 100 100 members' In Malaysia Malaysia Medical Medical Malaysia Malaysia Property Property Malaysia Malaysia Property Property Malaysia Malaysia Property Property Malaysia Malaysia Property Property Malaysia Malaysia Property Property Malaysia 31 December 2009 December 31 transportation transportation development development development investment investment investment investment liquidation businesses voluntary voluntary services services tourism tourism ownership interest Proportion of Proportion 10 - 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 100 100 % % % 50. Subsidiaries andAssociates (contd.) # Sunway City India Sunway India City # uwySopn ete ogKn Provision HongKong Sunway ShoppingCentre # a Subsidiariesof (a) Name ofcompanies Berhad Berhad Sunway Centre Medical Bhd. Sdn. Sunway Putra Rahman Spring Ambience Sdn. Bhd. Malaysia Property Property Malaysia Bhd. AmbienceSdn. Spring Bhd. Sdn. Sunway REIT Management Malaysia Dormant Dormant Malaysia Sunway REITManagement Private Limited Limited Private Management TAH Properties Bhd. Sdn. Bhd. Sdn. Worldclass Symphony Sunway Tower Bhd. 1Sdn. Bhd. Sdn. Sunway (contd.) Berhad City Sunway Homes(MM2H) Notes to the FinancialStatements the to Notes icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Mlyi prtro 8 - 78 Operator ofa Malaysia Malaysia Property Property Malaysia Malaysia Dormant Dormant Malaysia Malaysia Property Property Malaysia Mlyi netet 10 100 100 Investment Malaysia Malaysia Dormant Dormant Malaysia India India andinvestment medicalcentre management development development ofshopping investment investment centre and Poet 99 99.99 99.99 Property facilities services services holding holding 31 December 2009 December 31 ownership interest Proportion of Proportion 10 - 100 10 100 100 10 100 100 10 100 100 10 - 100 10 100 100 % % % - 70 - 259 Sunway City Berhad Annual Report 2009 260

Sunway City Berhad Annual Report 2009 50. FinancialStatements the to Notes Subsidiaries andAssociates (contd.) b SubsidiariesofSunway (b) a Subsidiaries of (a) Name ofcompanies Alliance Parade Bhd. Sdn. Associated Circle Sdn. Bhd. Malaysia Dormant Dormant Malaysia Associated Circle Bhd. Sdn. Sejati PesonaSejati Bhd. Sdn. Prime Bhd. Sdn. Delight Sunway Bhd. Sdn. Carnival Bhd. Sdn. Sunway Hotel (Seberang Jaya) Malaysia Malaysia Sunway Hotel Jaya) (Seberang Commercial Parade Sdn. Bhd. Malaysia Dormant Dormant Malaysia Commercial Parade Bhd. Sdn. Era Primision Bhd. Sdn. Fame Parade Bhd. Sdn. (Penang) City Bhd. Sdn. Ltd.) Captive International Ltd. (heldintrustby General uwyCt atv nuac Mlyi Captive Malaysia Sunway Captive City Insurance Bhd.) Sdn. Methods Mega as (formerlyknown Sunway (contd.) Berhad City SunCity Vietnam Sdn. Bhd. Malaysia Dormant Dormant Malaysia SunCity Vietnam Bhd. Sdn. icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Mlyi hpig 0 100 Dormant 100 Malaysia Shopping Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia 31 December 2009 December 31 Insurance Insurance operator business Hotel mall ownership interest Proportion of Proportion 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 - 100 10 - 100 % % % 50. Subsidiaries andAssociates (contd.) Commercial Highlight # f SubsidiariesofSunway (f) (e) Subsidiary ofSunway Subsidiary City (e) d SubsidiariesofSunway (d) Sunway Hotel Phnom # ofKonsep Subsidiary (c) Name ofcompanies Sdn. Bhd. Sdn. Enterprises Limited Enterprises Glory Eastern Sunway Wildlife Bhd. Sdn. Bhd. LagoonSdn. Pena Bhd. Sdn. Enterprise Bhd. Sdn. Properties Bhd.) Sdn. asEssentialOutlook known Bhd. Sdn. (formerly Resorts Allson International Hotels & Malaysia Malaysia Hotels & Allson International Bhd. Sdn. Sunway Parking Management Malaysia Car park Car park Malaysia Sunway ParkingManagement Bhd. Pyramid Sdn. Penh Ltd. Objektif (M) Sdn. Bhd. Objektif(M)Sdn. Notes to the FinancialStatements the to Notes icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Cmoi Hotel Cambodia Malaysia In creditors' In Malaysia Malaysia Dormant Dormant Malaysia Malaysia Property Property Malaysia Islands Biih Investment British Virgin management development investment liquidation voluntary voluntary operator business holding holding Hotel and 31 December 2009 December 31 ownership interest Proportion of Proportion 10 100 100 10 100 100 10 100 100 6 60 60 7 75 75 % % % - 55 - - 100 - 261 Sunway City Berhad Annual Report 2009 262

Sunway City Berhad Annual Report 2009 50. FinancialStatements the to Notes Subsidiaries andAssociates (contd.) h SubsidiariesofSunway (h) g SubsidiariesofSunway (g) f SubsidiariesofSunway (f) Name ofcompanies Essential Outlook Sdn. Bhd.) EssentialOutlook Sdn. as (formerlyknown Bhd. Sdn. Resorts lsnItrainlHtl Mlyi Dormant Malaysia Hotels & Allson International Bhd. Sdn. Hotels &Resorts Sunway International Limited Management Allson International (B.V.I.) Limited Hotels &Resorts Allson International HoldingsLtd. Hospitality Bhd.) BloomsSdn. Lake as Bhd. Sdn. (formerlyknown uwyMns- eiec aasa Poet 10 - 100 Property Malaysia Sunway Residence Monash-U QuayBhd. South Sdn. Bhd. Sdn. Sunway Lagoon Management Malaysia Dormant Dormant Malaysia Sunway LagoonManagement Frontier Acres Bhd. Sdn. Sunway South Quay Sdn. Bhd. Malaysia Property Property Malaysia Sunway Quay Bhd. South Sdn. Bhd. Sdn. Sunway Townhouse Bhd. LagoonSdn. (contd.) icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Mlyi netet 10 100 100 Investment Malaysia Malaysia Property Property Malaysia Malaysia Islands Islands British British British British Vri management Virgin Vri management Virgin 31 December 2009 December 31 management development development investment holding Hotel Hotel Hotel ownership interest Proportion of Proportion 10 - 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 6 60 60 % % % 50. Subsidiaries andAssociates (contd.) l SubsidiariesofSunway (l) Sunway Cambodia City # ofSunway Subsidiary City (k) j SubsidiariesofSunway (j) i SubsidiariesofEmerald (i) Name ofcompanies Sdn. Bhd. Sdn. Peluang (M) Klasik Bhd. Sdn. Objektif Ekuiti (M) Objektif Ekuiti Bhd. Sdn. Kinta SunwayKinta Resort Bhd. Sdn. (Ipoh) City Limited (Cambodia) Bhd. Sdn. Bhd. Sdn. (Malaysia) Sunway Gamma Knife Centre Malaysia Dormant Dormant Malaysia Sunway KnifeCentre Gamma Berhad Sunway Centre Medical Bhd. HoldingsSdn. Medical Bhd. Sdn. Sunway D'MontKiara Bhd. Sdn. Sunway Putra Rahman Tycoon Bhd. Sdn. Notes to the FinancialStatements the to Notes icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Cambodia Dormant Dormant Cambodia Malaysia Property Property Malaysia Malaysia Dormant Dormant Malaysia Malaysia Property Property Malaysia Mlyi Operator ofa Malaysia Malaysia Property Property Malaysia Malaysia Property Property Malaysia medicalcentre development development investment investment owner and andhotel operator 31 December 2009 December 31 ownership interest Proportion of Proportion 10 100 100 10 100 100 10 100 100 10 100 100 8 80 80 7 70 70 % % % - 72.8 - - 100 - 263 Sunway City Berhad Annual Report 2009 264

Sunway City Berhad Annual Report 2009 50. FinancialStatements the to Notes Subsidiaries andAssociates (contd.) Permata Aktiviti(M) # m SubsidiariesofSunway (m) l SubsidiariesofSunway (l) Name ofcompanies Contemporary Deal Sdn. Bhd. Malaysia Dormant Dormant Malaysia Bhd. Sdn. Deal Contemporary Bhd. Sdn. Laudable Generations Winning Excellence Sdn. Bhd. Malaysia Dormant Dormant Malaysia Winning Excellence Bhd. Sdn. Pan Unicreation Bhd. Sdn. Park Symphony Bhd. Sdn. Sdn. Bhd. Sdn. Tidal Bhd. EleganceSdn. (Ipoh) Sdn. Bhd. Sdn. (Ipoh) Imbasan Intisari Sdn. Bhd. Sdn. Intisari Imbasan Damansara Bhd. Sdn. Sunway Hotel Services Ganda Antik Sdn. Bhd. AntikSdn. Ganda Bhd. Sdn. Semangat Kancil (M) Kancil Semangat Lagoon Fantasy Bhd. Sdn. Water Park Bhd. Sdn. City (Ipoh) Sdn. Bhd. Sdn. (contd.) (Ipoh) City Sunway Lagoon icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia In members' In Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Mlyi hm ak 10 100 100 Theme park Malaysia 31 December 2009 December 31 liquidation voluntary voluntary operator ownership interest Proportion of Proportion 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 % % % - 100 - 50. Subsidiaries andAssociates (contd.) (p) Subsidiary ofPena Subsidiary (p) (o) Subsidiary ofSunway Subsidiary IFM (o) (n) Subsidiary ofMenara Subsidiary (n) m SubsidiariesofSunway (m) Name ofcompanies Logic Square Bhd. Sdn. Enterprise Bhd. Sdn. Bhd. Sdn. Sunway ParkingServices Bhd. Sdn. MSW Parking Sdn. Bhd.MSW ParkingSdn. Sunway Bhd. Sdn. Bhd. Sdn. Sunway Monterez Emerald Freight Bhd. Sdn. Bisikan Seni Sdn. Bhd. Sdn. Seni Bisikan Anggaran Salju Sdn. Bhd.Anggaran SaljuSdn. Sumber Dorongan Sdn. Bhd. Malaysia Dormant Dormant Malaysia Sumber DoronganBhd. Sdn. Seruan Istilah Sdn. Bhd. IstilahSdn. Seruan Cahaya Jejaka Sdn. Bhd. Sdn. Cahaya Jejaka Petikan Tropika Bhd. Sdn. Bhd. Sdn. Damansara Bhd. Sdn. (contd.) Contemporary FactorContemporary Notes to the FinancialStatements the to Notes icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Car park Malaysia Malaysia Property Property Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia Malaysia Dormant Dormant Malaysia management development 31 December 2009 December 31 ownership interest Proportion of Proportion 10 100 100 10 100 100 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 10 100 100 % % % 265 Sunway City Berhad Annual Report 2009 266

Sunway City Berhad Annual Report 2009 50. FinancialStatements the to Notes Subsidiaries andAssociates (contd.) t SubsidiariesofSunway (t) s SubsidiariesofEstonia (s) r SubsidiariesofInternational (r) q SubsidiariesofEastern (q) Name ofcompanies Junction Sdn. Bhd.) Sdn. Junction asFavourite (formerlyknown SunMed Clinics Sdn. Bhd. ClinicsSdn. SunMed Sunmed@Home Sdn. Bhd.Sunmed@Home Sdn. Centre Medical Berhad uwyAsrlaUi rs Asrla Unittrust Australia Sunway Australia Unit Trust Park Pty. Ltd. Pty. Limited International International Theme Enterprises Limited Sydney Theme Park uwyAsrlaUi rs Asrla Ui rs 0 - 100 Unittrust Australia Sunway Australia Unit Trust Theme Park Pty. Ltd. Park Pty. Ltd. International International Theme Glory Enterprises Glory Hartford LanePty. Ltd. Limited Estonia Enterprises Limited icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Australia Dormant Dormant Australia Asrla Teepr 0 100 100 Theme park Australia Australia Dormant Dormant Australia Asrla Trustee Australia Mlyi prto f 10 - 100 Operation of Malaysia Mlyi oenrig 5 51 51 Homenursing Malaysia Islands Biih Ivsmn 0 100 100 Investment British Virgin 31 December 2009 December 31 care andallied licenceholder healthcare services services holding clinics ownership interest Proportion of Proportion 10 - 100 10 100 100 % % % - 100 - - 100 - 50. Subsidiaries andAssociates (contd.) # Audited & ofauditors by otherthanErnst firms Young Associates ofSunway (x) PyramidBowlBhd. Sdn. # Associate ofSunway (w) v Associate ofSunway (v) Sunway Cana City # u Associates of (u) Name ofcompanies Private Limited Sunway MAK International (S'pore) City Pte. Ltd. Pyramid Sdn. Bhd. Pyramid Sdn. Bhd. Sdn. Sunway D'MontKiara Damansara Bhd. Sdn. Glitter Performance Sdn. Bhd. Malaysia Dormant Dormant Malaysia Glitter Bhd. Performance Sdn. Ltd. Development Aktif-Sunway Bhd. Sdn. Sunway Berhad City Notes to the FinancialStatements the to Notes icroain atvte 09 2008 2009 activities incorporation Cutyo Principal of Country Cambodia Property Property Cambodia Mlyi oln le 0 40 40 Bowling alley Malaysia Malaysia Property Property Malaysia Mlyi Ceased Malaysia India India development development development operation operator Poet 63 - 26.3 Property 31 December 2009 December 31 ownership interest Proportion of Proportion 3 30 30 5 50 50 4 49 49 2 20 20 % % % 267 Sunway City Berhad Annual Report 2009 268

Sunway City Berhad Annual Report 2009 51. FinancialStatements the to Notes

Financial Instruments (a) (b) (c) shall beundertaken. throughout theyear underreview, theGroup’s thatnotradinginderivativefinancialinstruments policy agrees policiesfor are managing andthey below. eachoftheserisks summarised is, andhasbeen It risk andcreditrisk. liquidity fair valueandcashflow), The Boardrisk, foreign and reviews currency available for thedevelopment oftheGroup’s businesseswhilstmanaging itsinterest (both rate risks The Group’s seeks to ensure thatadequaterisk managementpolicy financial financial resources are Financial riskmanagement andpolicies objectives disclosed intheirrespective notes. datesThe andeffective information interest onmaturity rates offinancialassetsandliabilities are of fixed andfloatingrate borrowings. Group to fairvalueinterest rate risk. The Group managesitsinterest rate exposure by amix monitoring rates expose theGroup to cashflow Borrowings interest obtainedatfixedrisk. rates rate exposethe The Group’s from interest interest-bearing primarily arises rate risk borrowings. Borrowings atfloating innature term andhaveassets are beenmostlyplacedinfixed mainlyshort deposits. interest rates.substantially independentofchangesinmarket The Group’s interest-bearing financial significant interest-bearing financialassets, the Group’s incomeandoperatingcash flows are interest due rates.financial instrumentwillfluctuate tochangesinmarket Asthe Group hasno interest rates.because ofchangesinmarket Fair valueinterest thatvalueofa istherisk rate risk Cash flow interestrisk thatthefuturefluctuaterisk isthe rate cashflows ofafinancialinstrumentwill Interest rate risk revenue stream to begenerated from itsinvestments. orinvestment islocated orbyin whichtheproperty borrowing incurrencies thatmatch thefuture The Group maintainsanaturalhedge, whenever possible, ofthecountry by borrowing inthecurrency operating entitiesareto anacceptablelevel. kept Rupees. Foreign currencies ofthe exposurescurrencies otherthanfunctional intransactional currency Unitedare States Dollar, primarily Australian Dollar, Dollar, HongKong Singapore andIndian Dollar foreignfrom inwhichcertain operate. countries subsidiaries The currencies giving to thisrisk rise assets andliabilitiesare denominated except Malaysia inRinggit for foreign arising risk currency The Group isnotsignificantly exposedoftheGroup’sto risk asmajority foreign currency transactions, Foreign risk currency 31 December 2009 December 31

51.

(d) (c) Financial (contd.) Instruments (e) funding soasto achieve overall cost effectiveness. term withsomeshort andfinancialinstitutions and balancesitsportfolio from bothcapital markets a reasonable level to itsoverall debtposition.As faraspossible, theGroup raisescommitted funding capitalrequirements. addition,theGroup facilitiesat working strivesto In maintainavailable banking management, theGroup levels maintainssufficient ofcashorconvertible investments tomeetits as to ensure thatrefinancing, ofits repayment overall andfundingneedsare liquidity met. As part profile,The Group managesitsdebtmaturity operatingcashflowsoffundingso andthe availability risk Liquidity their functional currencies aretheir functional asfollows: The net unhedgedfinancialassetsandliabilitiesofthe Group that are notdenominated in Foreign risk(contd.) currency Group tradesonly withrecognised there third isnorequirement andcreditworthy parties, for collateral. monitored onanongoing basis andtheGroup’s exposure to baddebtsisnotsignificant. Sincethe trade oncredit areto terms credit subject verification procedures.In addition, receivable balancesare istheGroup’srecognised It third andcreditworthy parties. thatallcustomers whowishto policy The Group’s to tradereceivables. attributable credit isprimarily risk The Group tradesonlywith Credit risk Indian Rupee Indian Dollar Hong Kong Australian Dollar At 31December 2009 Functional ofGroup Companies currency Singapore Dollar Indian Rupee Indian Dollar Hong Kong Australian Dollar At 30June2008 United States Dollar Singapore Dollar United States Dollar Notes to the FinancialStatements the to Notes bank balances Cash and RM'000 344 ,9 23,758 5,394 13,494 586 133 3,704 1,383 5,866 900 854 9,412 1,821 4,087 4,959 8,574 1,434 9,080 2,449 1,475 241 109 2,554 1,019 2,441 645 52 340 18,360 3,430 532 Netfinancialassets/liabilitiesheldin 5 ,6 3,787 5,566 64 56 Receivables 31 December 2009 December 31 non-functional currencies non-functional RM'000 156 85 2,700 116 805 35 24 Payables RM'000 121 43 57 23 269 Sunway City Berhad Annual Report 2009 270

Sunway City Berhad Annual Report 2009

51. FinancialStatements the to Notes

(f) Financial (contd.) Instruments sheet dates approximated theirfairvaluesexcept for thefollowing: amountsoffinancialassetsandliabilitiestheGroup andofthe Company atthebalance The carrying Fair values ofsubsidiaries shareholdersAdvances by minority - Refundable deposits -Refundable - Redeemable preference -Redeemable shares Long liabilites term Financial liabilities entities Amount duefrom jointlycontrolled Amount duefrom subsidiaries partner -Amountduefrom jointventure receivables Other Financial assets 2008 ofsubsidiaries shareholdersAdvances by minority - Refundable deposits -Refundable - Redeemable preference -Redeemable shares Long liabilites term Financial liabilities entities Amount duefrom jointlycontrolled Amount duefrom subsidiaries partner -Amountduefrom jointventure receivables Other Financial assets 2009 31 December 2009 December 31 Carrying Carrying amount RM'000 2606 283,598 296,076 2255 281,765 292,505 1860 1247 1865 102,452 108,615 102,457 108,620 1,9 15,129 16,692 3,6 35,293 35,567 4,8 521 4,4 34,620 41,249 35,251 41,880 6,8 925 6,8 29,235 67,588 29,235 67,588 1,8 15,291 16,683 6,8 183 6,8 31,883 67,588 31,883 67,588 713 7,143 7,143 Group - - RM'000 value Fair - 11219 1,152,796 1,182,129 - - 9206 876,038 902,046 - Carrying Carrying amount RM'000 Company ------RM'000 value Fair ------52.

Segment Information (a) (b) (c) (d) markets. markets. segment representing astrategic businessunitthatoffers different different andserves products managed separately provided, according to thenature witheach oftheproductsandservices geographically. information isreported Secondary The operatingbusinessesare organised and and rates ofreturn are affected predominantly by differencesproduced. intheandservices products format segmentto isdetermined bebusinesssegments reporting astheGroup’sThe primary risks format Reporting (v) (iv) (iii) (ii) (i) The Group thefollowing comprises mainmajor businesssegments: Business segments (iii) (ii) (i) customers. The Group’s three businesssegments operate inthree maingeographical areas: customers disclosedingeographical segments are basedonthegeographical locationofits The Group’s geographical segments are basedonthelocationofGroup’s assets. Salesto external Geographical segments business segments. These transfers are eliminated onconsolidation. Segment revenue, withthirdtransactions parties. expensesandresults includetransfers between Transfer businesssegments between are prices setonanarm’s lengthbasisinamannersimilarto liabilities andexpenses. that canbeallocated onareasonable basis. Unallocated assets, mainlycorporate items comprise Segment results, to assetsandliabilitiesincludeitems asegment directlyattributable aswell asthose Allocation basisandtransfer pricing Healthcare -managementandoperationofamedicalcentre. -managementandoperationsofhotels; and Hospitality businesses; sharing Leisure -operationofthemeparks, rendering recreational clubfacilities, travel agentandtime investmentProperty -managementandoperationofshoppingmallslettingproperties; development -developmentProperty ofresidential andcommercial properties; financial year. Australia -theoperations inthisarea whichwere leisure principally hadceasedintheprevious and Asia (excluding -theoperationsinthisarea Malaysia) are hospitality; principally leisure, andhealthcare; hospitality investment, development, property -theoperationsinthisareaMalaysia are property principally Notes to the FinancialStatements the to Notes 31 December 2009 December 31 271 Sunway City Berhad Annual Report 2009 272

Sunway City Berhad Annual Report 2009 Notes to the FinancialStatements the to Notes

52. Segment Information (contd.)

Business segments

The following table provides an analysis of the Group’s revenue, results, assets, liabilities and other information by business segment:

Property Development Property Investment Leisure Hospitality Healthcare Eliminations Total 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 to to to to to to to to to to to to to to 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 (restated) (restated)

Revenue Sales to external customers 543,169 720,913 409,716 218,238 183,975 113,154 288,907 158,080 175,200 104,171 - - 1,600,967 1,314,556 31 December 2009 December 31 Inter-segment sales 54,000 4,459 10,302 5,167 - 78 8,403 1,509 394 40 (73,099) (11,253) - - Total revenue 597,169 725,372 420,018 223,405 183,975 113,232 297,310 159,589 175,594 104,211 (73,099) (11,253) 1,600,967 1,314,556

Results Segment results 111,562 160,595 992,081 454,679 35,376 32,078 52,850 50,255 (3,436) 5,605 - (4,145) 1,188,433 699,067 Unallocated expenses - (397) Operating profit 1,188,433 698,670 Finance costs (104,780) (76,632) Share of profit/(loss) of associates 7,819 3,128 275 (21) - 116 ------8,094 3,223 Share of profit of jointly controlled entity 49,660 8,744 ------49,660 8,744 Profit/(loss) before tax 145,940 153,226 931,574 414,880 32,219 26,033 39,318 36,270 (7,644) 3,596 1,141,407 634,005 Income tax expense (275,527) (175,685) Net profit for the period/year 865,880 458,320 52. Segment Information (contd.)

Business segments

The following table provides an analysis of the Group’s revenue, results, assets, liabilities and other information by business segment:

Property Development Property Investment Leisure Hospitality Healthcare Eliminations Total 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 to to to to to to to to to to to to to to 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 FinancialStatements the to Notes RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 (restated) (restated)

Assets Segment assets 1,844,717 1,678,376 3,463,974 2,691,414 226,268 181,925 603,357 588,167 230,771 157,378 (403,317) (215,960) 5,965,770 5,081,300 Investments in associates 26,196 14,351 - - 1,452 1,182 - - - - - 27,648 15,533 Investment in jointly controlled entity 125,926 65,099 ------125,926 65,099 Unallocated assets 45,938 55,017 Total assets 6,165,282 5,216,949

Liabilities Segment liabilities 812,663 1,063,660 429,048 484,222 76,859 85,465 310,845 393,507 47,857 88,498 (1,066,805) (1,399,909) 610,467 715,443 Unallocated liabilities 2,386,178 2,123,648 Total liabilities 2,996,645 2,839,091 31 December 2009 December 31

Other segment information Capital expenditure 11,292 3,021 54,397 423,397 10,448 8,747 19,937 36,728 83,117 50,093 179,191 521,986 Depreciation 2,246 1,808 12,296 3,920 11,848 7,896 40,924 13,520 15,200 7,432 82,514 34,576 Impairment losses - 518 ------518 Other significant non-cash expenses/(income) 30,050 1,592 (731,195) 1,599 2,569 1,083 98 332 (531) - (699,009) 4,606 273 Sunway City Berhad Annual Report 2009 274

Sunway City Berhad Annual Report 2009 Notes to the FinancialStatements the to Notes

52. Segment Information (contd.)

Geographical segments

The following table provides an analysis of the Group’s revenue, results, capital expenditure and assets by geographical segment:

Malaysia Asia (excluding Malaysia) Australia Total

1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 1.7.2008 1.7.2007 to to to to to to to to 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 31.12.2009 30.6.2008 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 RM'000 (restated) (restated) 31 December 2009 December 31

Revenue 1,572,434 1,300,052 28,533 14,504 - - 1,600,967 1,314,556

Segment results 1,190,331 701,191 179 (3,921) (2,077) 1,797 1,188,433 699,067

Capital expenditure 178,427 520,998 764 988 - - 179,191 521,986

Segment assets 5,933,741 5,045,121 20,649 26,319 11,380 9,860 5,965,770 5,081,300 53.

Significant EventDuring the Financial Period (a) The oftheSPA salient terms include, inter-alia, thefollowing: “Sunway Hotel Hanoi”. SHHLLC ofHochimexandtheoperator ofahotel inHanoi, isawhollyowned subsidiary as Vietnam known consideration ofUSD$17million(equivalent to approximately RM59.33million). anditssubsidiary, Sunway Limited Hotel Company HanoiLiability (“Hochimex”) (“SHHLLC”) for atotal cash acquisition oftheentire issuedandpaid-upshare capitalofHochimexNomineeCompany Limited and Sunway (China) Property Limited (“Vendors”), ofSunway beingsubsidiaries Holdingsfor theproposed 2009, entered into ashare saleandpurchase agreement (“SPA”) Bhd. Sdn. withSunway Holdings(Vietnam) Bhd.) Sdn. (“Suncity Methods Mega Vietnam”), oftheCompany hadon9June awhollyowned subsidiary On 10June2009,theBoard ofDirectors announcedthatSuncity as Vietnam Bhd. Sdn. (formerlyknown Proposed (“Proposed acquisitionsofHochimexNomineeCompany Limited anditssubsidiary Acquisition”). (b) - “Conditions Fulfillment Period” shallmean:- - (c) of earnest money and as part payment ofthePurchase andaspart money Consideration.of earnest Upon execution oftheSPA, Suncity to the Vietnam shallpay USD1.7million(“Deposit”) Vendors by way (v) (iv) (iii) (ii) (i) Conditions Fulfillment (asdefinedherein):-Period upon thefollowing conditionsbeingfulfilled, amongstothers, ofthe on orbefore theexpiry to complete thesaleandpurchaseThe oftheShares obligationsoftheparties herein are conditional writing for oftheconditioninitemwriting (b)(iv)above; satisfaction and Two monthsfrom andexcluding thedate oftheSPA may agree orsuchlater date in astheparties writing for oftheconditionsinitemwriting (b)(i),(ii),(iii)and(v)above. satisfaction Six monthsfrom and excluding thedate oftheSPA may agree orsuchlater date in astheparties claim againsttheotherpursuant to theSPA save for any antecedent breach. shallhavewithin 14businessdays any from further noticeandthereafter thetermination neither party SPA terminate. shallforthwith The Vendors withoutinterest shallreturn the Deposit to thePurchaser the SPA by giving noticeto written Uponreceipt theotherparty. ofsuchnoticeby the theotherparty, obtained orunfulfilled by theexpirationof Conditions Fulfillment may terminate Period, any party any approvalIf orconsentreferred to initem (b)isrefused orany conditionreferred to initem (b)isnot years commencingfrom1992. 9October ofNaturalResources, EnvironmentDepartment andHousingfor theleaseofLandfor 45 the Vendors to beentered obtainingtheland leasecontract into SHHLLC between andHanoi outonHochimexandSHHLLC;due diligenceauditcarried and the Purchaser beingsatisfiedordeemedwiththe resultsofalegalandfinancial purchase oftheShares pursuantto oftheSPA; theterms the approval oftheshareholder ofthePurchaser ingeneralmeetingbeingobtainedfor the of theShares by the Vendors pursuantto oftheSPA; theterms the approval oftheshareholders oftheCompany ingeneralmeetingbeingobtainedfor the sale for thesaleofrespective Shares by therespective Vendors pursuantto oftheSPA; theterms the approval oftheshareholders oftherespective Vendors ingeneralmeetingbeingobtained Notes to the FinancialStatements the to Notes 31 December 2009 December 31 275 Sunway City Berhad Annual Report 2009 276

Sunway City Berhad Annual Report 2009

56. 55. 54. 53. FinancialStatements the to Notes Prior Year Adjustments Comparatives Subsequent Event years to reflectthechangeinnature oftheabove joint ventures. assets, liabilities, aswell asadjustmentsto theincomeandexpensesitems relating to thecurrent andprior Controlled Operation.Accordingly, thishasresulted intherestatement oftheGroup’s andtheCompany’s the nature andsubstanceofthejointventures Controlled wasthatofJointly Entitiesinstead ofJointly requirements underFRS131:Interest inJoint Ventures andconcludedthat inthecurrent financialperiod The Company, hashowever, reassessed theaboveamentioned jointventure agreements andthe venture initsseparate financialstatements. controlled operations andhave accordingly accounted for itsshare ofexpenseandincomethejoint The Company hadpreviously accounted for ofajointly by applyingtheprinciples thesaidtransactions onlandsowned by development therespective activities Joint property Ventureundertake Partners. Bhd. Sdn. Development andFawaniswith Medallion Bhd. Sdn. (“Joint Venture Partners”) respectively to 2006,theCompany 2004andDecember December enteredIn into separate two jointventure agreements therefore thecomparative amountsare notinrespectofcomparableperiods. 2009cover compared31 December an18-monthperiod to the12-monthyear endof30June2008and Accordingly, thefinancialstatements oftheGroup andofthe Company ended for thefinancialperiod The financial year endofthe Company waschangedfrom andallitssubsidiaries 30JuneDecember.to 31 updates thereAs ontheProposed atthedate are ofthisreport, nofurther REIT. 2010. been submitted on6April pursuantto theGuidelinesonREITissuedby theSChad Commissionapplication to(“SC”) theSecurities onbehalfoftheCompany, 2010,RHBInvestment Bank, Subsequently on7April announcedthatan and RHBInvestment Bankassolefinancialadviser for the Proposed REIT. appointedThe RHBInvestment BankandCredit Company Suisseasjointglobalcoordinators hadfurther Company’s Estate Real Investment Trust (“Proposed REIT”). for theproposed asjointbookrunners initialpublicoffering ofthe (“RHBInvestment Bank”) Bank Berhad Limited,Corporation J.P Limited, andRHBInvestment Morgan Securities Investment Maybank BankBerhad Bank Berhad, Credit Suisse(Singapore) Limited (“Credit Suisse”), andShanghaiBanking The Hongkong On 11February 2010,theBoard ofDirectors announcedthattheCompany hadappointed CIMBInvestment Proposed Estate Real Investment Trust (“REIT”) The Proposed Acquisition hasnotbeencompleted asatthedate ofthisreport. may mutuallyagree. the Proposed Acquisition for another6monthsto expire astheparties on9June2010orsuchotherperiod date, entered into aSupplementAgreement withthe Vendors theConditions to Fulfillment extend of Period Subsequently, 2009,theCompany on8December announcedthatSuncity Vietnam Bhd. Sdn. hadoneven Significant EventDuring the Financial Period (contd.) 31 December 2009 December 31 56. follows: comparativeAs amountshave aresult been oftheeffects oftheseprior yearadjustmentscertain restated as Prior Year Adjustments (contd.) Other payables Other Trade payables borrowings Non-current Retained profitsRetained Cash andbankbalances Amounts duefrom jointlycontrolled entities receivables Other development costs Property Balance sheet Company At 1July2007 payables Other Trade payables borrowings Non-current Cash andbankbalances Amounts duefrom jointlycontrolled entities receivables Other development costs Property Investments injointlycontrolled entities Balance sheet Group At 1July2007 Notes to the FinancialStatements the to Notes As previously RM'000 2143 (530 226,123 (25,310) 251,433 256,303 383,340 210,690 709,464 56,968 (11,377) (25,310) 326,372 172,578 222,067 468,280 734,774 41,373 531,416 (28,721) 131,205 497,001 stated 2,6 698 83,729 56,968 (11,377) 26,761 11,692 6,9 133 102,972 41,373 35,767 (28,721) 61,599 36,294 47,532 13 2,0 22,173 22,000 173 22,173 22,000 173 (decrease) Increase/ FRS131 RM'000 31 December 2009 December 31 (,1)30,355 (5,412) 46,277 (1,255) (,1)526,004 (5,412) 125 257,558 1,255 As restated RM'000 7,573 315 277 Sunway City Berhad Annual Report 2009 278

Sunway City Berhad Annual Report 2009 56. FinancialStatements the to Notes Prior Year Adjustments (contd.) Other payables Other Trade payables Current borrowings borrowings Non-current Trade payables development Land heldfor property Investments injointlycontrolled entities Balance sheet Group At 30June2008 Retained profitsRetained Cash andbankbalances Trade receivables development costs Property development Land heldfor property Balance sheet Company At 30June2008 payables Other Current borrowings borrowings Non-current Cash andbankbalances Amounts duefrom jointlycontrolled entities receivables Other Trade receivables development costs Property Amounts duefrom jointlycontrolled entities receivables Other 31 December 2009 December 31 As previously RM'000 5459 (800 516,449 (18,070) 253,993 534,519 248,239 399,239 239,906 421,218 36,455 936,705 384,763 (18,070) 567,464 954,775 319,127 557,557 (37,322) 209,463 356,449 stated 4,6 645 81,023 36,455 44,568 14,211 68,823 5,3 3,2)20,709 88,930 (37,322) 58,031 139,638 43,202 96,436 6,0 322 107,907 43,202 64,705 729 3,0 41,249 34,000 7,249 3,194 7,065 41,880 34,000 7,880 (decrease) Increase/ FRS131 RM'000 (,2)12,084 (2,127) (,2)65,099 (3,724) (,2)246,112 (2,127) 394,473 (4,766) (,2)80,403 (8,527) (,2)549,030 (8,527) (4,766) 646 260,459 6,466 374 243,630 3,724 573,930 6,466 (4)209,323 (140) (140) As restated RM'000 2,299 3,054 56. Prior Year Adjustments (contd.) Other expenses Other expenses andmarketing Selling Administrative expenses income Other Income statement Company Share ofprofit ofjointlycontrolled entities Other expenses Other Selling and marketing expenses andmarketing Selling Administrative expenses income Other Income statement Group For theyear ended30June2008 Notes to the FinancialStatements the to Notes As previously (168,671) (149,349) RM'000 374,937 (31,156) (23,341) (45,915) stated 29,213 11,213 (4,073) (decrease) Increase/ FRS131 RM'000 31 December 2009 December 31 (2,469) 2,229 229 (43,686) 2,229 (8)29,031 (182) (8)374,755 (182) 45 (22,926) 415 45 (148,934) 415 7 (31,149) 7 7 (168,664) 7 As restated RM'000 (1,844) 8,744 279 Sunway City Berhad Annual Report 2009 280

Sunway City Berhad Annual Report 2009 as at 31 December 2009 December 31 at as Properties Of List Selangor DaerahPetaling BandarSunway PN 11816Lot 61771 Selangor DaerahPetaling Damansara, Mukim 9313 HS(D)23565 PT 9311HS(D)59436& Building BlockB B10-02 Storey No10 Perak DarulRidzuan DaerahKinta MKUluKinta Jalan Tambun PT 199440 134496 HS(D)KA Selangor DaerahPetaling BandarSunway PT 1489HS(D)118318 PT 37HS(D)118341 Selangor DaerahPetaling BandarSunway Lot 49359-60 PN 8622-23 DarulEhsan Selangor MKDamansara BandarSunway PT 892HS(M)7031 Selangor DaerahPetaling BandarSunway PT 1406HS(D)118322 Selangor DaerahPetaling BandarSunway PT 1706HS(D)118324 Selangor DaerahPetaling BandarSunway PT 15753HS(D)98453 PN 9493Lot 37 PN 9490Lot 34 Selangor DaerahPetaling BandarSunway PN 12548PT43 PN 12547PT38158 LandArea Location Address Investment Properties built up 58.850 / 755,940 221,000 728,236 129,809 4.496 / 4.330 / 0.370 / 0.499 / 4.075 / (acre)/ 39.820 21,482 43,917 2.980 / (sq ft) 2,147 6,143 area we yEitn s Age of ExistingUse by Owned Water Park Residence (Building) (Building) Sunway Medical Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Lagoon Lagoon Lagoon Centre (Land) (Land) Club City City City City City City Amphitheatre, Elephant Walk Lost World of Theme Park, Wavepool & Apartments Food Court Food Court (124 units) Phase (8C) Phase (6A) Centre (2) Centre (1) Residence Phase (10) Palmville (12 units) Tambun Medical Medical Medical Medical Sunway Sunway (1 unit) Sunway Sunway Lagoon Lagoon Block C Block B Sun U Club building (years) 3Leasehold 13 5 Leasehold 15 Leasehold 17 4 Leasehold 14 0 Leasehold 10 3 Leasehold 13 Leasehold 16 Leasehold 5 Leasehold 5 01.04.2097 01.04.2097 19.06.2094 01.04.2097 01.04.2097 27.10.2097 01.04.2097 01.01.2097 01.12.2097 11.04.2093 01.04.2097 expiring expiring expiring expiring expiring expiring expiring expiring expiring expiring Tenure Carrying Carrying Tenure & & amount/ RM'000 102,727 Market 44,194 14,630 85519 04- 1994/2004 38,565 55,549 48,000 21018 952009 1986/1995 22,100 10,086 10,650 Value ,0 96/19 2009 1986/1992 2,000 ,5 96/19 2009 1986/1994 3,750 7,000 2 2008 620 Acquisition 1986 /1999 1986/2004 1986/2004 Building Year of Land/ 1992 1986 1993 1986 of Revaluation Year of 2009 2009 2009 2008 2009 - - - Wilayah Persekutuan JalanAmpang Lot 55GRN45110 A-12-02,A-05-05 A-12-06,A-05-03A A-13-02,A-20-01, A-18-03A,A-11-06, A-10-01,A-19-05 A-11-03,A-16-03, Condominium:- Monash B-03-04 B-18-04,B-21-03, A-08-04,A-07-05, A-05-05,A-07-06, A-13-04,A-13-05, A-22-03,A-01-04, Condominium:- Lagoonview Selangor DaerahPetaling BandarSunway JalanKolej Condominium) Lagoonview Resort Lot 61770(B-06-05 PN 11815/M1-B/6/160, Condominium) Lagoonview Resort Lot 61770(A-09-04 PN 11815/M1-A/9/55, Selangor DaerahPetaling BandarSunway PT 1490HS(D)115836 Selangor DaerahPetaling BandarSunway 238960 PT 907HSD(T) 238253 PT 894HSD(T) oainAdesLandArea Location Address Negeri Sembilan. Negeri DaerahPortDickson PT 302HS(D)15354 Selangor DaerahPetaling BandarSunway PT 3HS(D)114889 Investment (contd.) Properties Selangor DaerahPetaling BandarSunway PN 17415PT62060 built up 11.950 / 10.000 / 488,273 850,853 (acre)/ 0.594 / 1.537 / 0.390 / 1.898 / 42,961 34,329 44,867 18,463 (sq ft) 2,780 6,456 area International International Sunway City Townhouse we yEitn s Age of ExistingUse by Owned Ambience (Building) Platinum Vacation Vacation Sunway Sunway Sunway Sunway Sunway Tower 2 Sunway Sunway Sunway Success Lagoon (Land) Spring (Land) Club Club City City Condominium Legend Water Service suites Service Resort Suites Resort Lagoonview Lagoonview omril1 Fehl 8,8 072009 2007 184,984 Freehold 13 Commercial Townhouse and2units Warehouse University (12 units) (11 units) (36 units) (20 units) Campus Monash Monash Monash Monash 2 Storey Chalets) (2 units) (8units Chalets Office building (years) 10 Leasehold 10 9 Fehl ,0 2007 2,105 Freehold 3 Leasehold 3 3 3 Leasehold 5 Leasehold 4 28.12.2096 21.02.2102 14.11.2096 Leasehold Leasehold Leasehold 1.4.2097 1.4.2097 expiring expiring expiring expiring expiring Tenure Carrying Carrying Tenure as at 31 December 2009 December 31 at as amount/ RM'000 158,000 Market 29,209 Value ,1 20 2009 2007 8,615 9,835 ,0 9620 2009 1986/2006 6,000 ,7 0420 - 2004/2009 6,375 ,8 0120 2009 2001/2004 3,680 3 20 2009 2007 736 List Of Properties Of List Acquisition 1986/2007 1986/2007 1986/2007 Building Year of Land/ of Revaluation Year of 2009 2009 2009 - 281 Sunway City Berhad Annual Report 2009 282

Sunway City Berhad Annual Report 2009 as at 31 December 2009 December 31 at as Properties Of List Selangor DaerahPetaling BandarSunway PT 1904HS(D)118325 PT 28HS(D)118332 Pulau Pinang Perai Seberang Tengah 1 Mukim Lot 5785 Selangor DaerahPetaling BandarSunway PT 891HSD233143 PN 9500Lot 51175 PN 9495Lot 32 PN 17414Lot 62059 Selangor DaerahPetaling BandarSunway Lot 61760PN17105 MKUluKinta Jalan Tambun PT 146130HS(D)72911 LandArea Location Address Tengah, Penang Perai DaerahSeberang HS(D) 1816-1818 Lot 5497-5499 Selangor DaerahPetaling, BandarSunway PN 17415PT62060  Lot 20 93Sek 6890 Pajakan Negeri A-12-03, A-21-02,A-21-03 A-23A-01, A-23A-02, A-15-03,A-15-02, A-07-03,A-11-02, A-17-05 A-13A-03, A-13A-3A, A-06-06, A-10-06, A-08-06, Condominium:- Monash A-14-02, B-04-04 B-02-04, B-22-03,B-16-03, Lagoonview Condo:- Investment (contd.) Properties Penang East District, North Town ofGeorgetown 12 Section Lot 2220 Selangor Bandar Petaling Jaya 4,363,967 built up 12.433 / 18.827 / 615,983 167,622 654,783 983,099 220,097 (acre)/ 1.061 / 4.440 / 0.510 / 7.999 / 1.898 / 6.316 / 0.631 / 17,631 879Worldclass 38,729 (sq ft) 1,507 2,592 area we yEitn s Age of ExistingUse by Owned Symphony (Seberang (Penang) Pyramid Carnival Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Menara Menara Destiny Resort Stellar Hotel Hotel Kinta Jaya) City City Condominium Shopping Mall Seberang JayaSeberang Sunway Hotel Sunway Hotel Cum Car Park Resort Suites Resort Georgetown Lagoonview omril1 Leasehold 16 Commercial Restaurant University University Shopping Shopping Industrial (16 units) ( 2units) Campus Pyramid Pyramid Seafood Monash Monash (5 units) Carnival Sunway Sunway Sunway Sunway College Unique Factory (1 unit) Flatted Mall 1 Mall Mall 2 Mall Bar & building (years) 2 Leasehold 12 6Leasehold 16 6 reod2,8 9919 2007 1989/1993 28,384 Freehold 16 11 10 3 Leasehold 13 2 Leasehold 5 3 3 9 Leasehold 2 21.10.2092 01.04.2097 01.04.2097 14.08.2105 01.04.2097 21.02.2102 27.10.2097 21.10.2092 24.10.2067 Leasehold Leasehold Leasehold 21.2.2102 1.4.2097 expiring expiring expiring expiring expiring expiring expiring Tenure Carrying Carrying Tenure & & ,2,9 1986/1997 2,127,591 amount/ RM'000 5,0 072009 2007 150,000 3,6 072009 2007 134,260 4,7 9220 2009 1992/2007 247,679 Market 11519/972007 1992/1997 21,135 Value ,9 042009 2004 1,094 2,600 3,980 2008 8,446 0 2009 400 Acquisition 1986/2007 Building Year of Land/ 1994 1994 of Revaluation Year of 2009 2009 2009 2009 - - Perai Tengah, Penang DaerahSeberang Lot 5648PN1824 Lot 5647PN1823 Lot 5646PN1822 Lot 5493PN1814 Lot 5781-83PN2546-48 Penang Daerah Timur Laut Seksyen 12 Lot 1754 Selangor DaerahPetaling BandarSunway Lot 17-31 PN 11404-11417 Selangor DaerahPetaling Damansara Mukim PT 14438HS(M)5491 Wilayah Persekutuan JalanAmpang Lot 42GRN9940 Lot 41GRN4488 Lot 39GRN27733 KualaLumpur Lot 38GRN27736 Lot 17GRN12371 Selangor DaerahPetaling MKDamansara PT 9315HS(D)56708 oainAdesLandArea Location Address Selangor DaerahPetaling BandarSunway PT 1408HS(D)118321 PT 638HS(D)174431 Lot 51172PN9501 Lot 41PN9497 Selangor Selangor DaerahPetaling BandarSunway PN 17415/M1/1/1/1 HS(D) 118331&118344 PN 9492&9498 Lot 35&51173 Perak DarulRidzuan DaerahKinta MKUluKinta Jalan Tambun PN 258216 Lot No. 331232 UnderDevelopmentProperties &LandHeldfor Development 1,407,350 built up 193,408 (acre)/ 0.942 / 10.53 / 8.149 / 41,034 12.940 (sq ft) 2.490 2.540 3.480 3.290 2.750 1.315 5.051 area 0.14 2.10 Fame Parade Resort Hotel Resort Sunway City Commercial we yEitn s Age of ExistingUse by Owned Permission (Penang) (Penang) Peluang Sunway Sunway Pyramid Alliance Sunway Sunway Tower 1 Sunway Sunway Frontier Parade Parade Klasik Klasik Hotel Acres City City Era Pyramid Tower 3unitsof Villa Hprakt Leasehold 4 Hypermarket Hotel &Spa Vacant land Pavillion Sunway Vacant Vacant Vacant Vacant Vacant Vacant Resort Resort Hotel

building (years) 13 6 6 21.02.2102 Leasehold 21.10.2092 14.11.2096 14.03.2090 19.04.2086 01.04.2097 Leasehold Leasehold Leasehold Leasehold Leasehold 1.04.2097 22.2.2100 Fehl 76520 2009 2008 766.5 Freehold reod2,2 072008 2007 28,327 Freehold expiring expiring expiring expiring expiring expiring expiring expiring expiring Tenure Carrying Carrying Tenure & as at 31 December 2009 December 31 at as amount/ RM'000 274,414 Market 14720/ 2008 2001/- 11,477 68,632 991 9420 2009 1994/2005 49,961 Value 5,541 5,424 3,227 8,593 4,082 ,8 2004 7,187 5 1986/- 559 9 1986/- 798 List Of Properties Of List Acquisition 1986/1997 2003/2004 Building Year of 1992/- Land/ of

Revaluation Year of - - - - - 283 Sunway City Berhad Annual Report 2009 284

Sunway City Berhad Annual Report 2009 as at 31 December 2009 December 31 at as Properties Of List Selangor DarulEhsan Selangor DaerahPetaling  PT 16643Lot 917 Selangor DarulEhsan Selangor DaerahPetaling Raja Bukit Mukim 24692 PTD No. 14738HS(D) 219220 PTD No. 5263HS(D) 219360 PTD No. 5403HS(D) 219359 PTD No.5402 HS(D) Selangor Negari DaerahPetaling Damansara, Mukim Penaga Lot 39020 Tempat Sg 300, Mukim Lot 39019Geran DarulEhsan Selangor Cheras Mukim PT 44758HS(D)129465 PT 242980Lot 32978 PT 242981Lot 32979 PT 242982Lot 32856 Perak DarulRidzuan DaerahKinta, HuluKinta Mukim PT 220409HS(D)174259 Selangor DarulEhsan Selangor DaerahPetaling Raja Bukit Mukim 14725, 14736&14737 Lot No14698to 14724, DarulEhsan Selangor DaerahUluLangat MKSemenyih Lot 896GRN17426 Lot 238HS(D)3477 PT 14527HS(D)67894 39673-74 PT 1696-97HS(D) PT 4028HS(D)28653 28650-51 PT 4025-26HS(D) PT 4023HS(D)28648 LandArea Location Address Perak DarulRidzuan  UluKinta Mukim Jalan Tambun 72912-72920 PT 146131-139HS(D) PT 146129HS(D)72910 72888-72908 PT 144881-897HS(D) PT 155845HS(D)72921 UnderDevelopmentProperties &LandHeldfor Development (contd.) Selatan Bandar Petaling Jaya Daerah Kinta, Daerah Kinta, 1,121.850 built up 538.181 (acre)/ 86,638 16.193 (sq ft) 1.777 0.380 8.060 area 4.65 Sunway City Sunway City Sunway City Sunway City we yEitn s Age of ExistingUse by Owned Properties Properties Richworld Richworld Semenyih Monterez Monterez Sunway Sunway Sunway (Ipoh) (Ipoh) (Ipoh) (Ipoh) Group Group Class house (3units) Development Development Development Development Development Low costflat construction construction construction construction Residential Residential Hot Spring Hot Spring 2 Sty link 2 Sty (3 units) Vacant Vacant Vacant Resort Mixed Mixed Mixed Mixed under under under under building (years) 13.12.2091 Leasehold 06.07.2107 13.12.2091 27.10.2097 Leasehold Leasehold Leasehold Leasehold 25.5.2097 Freehold 2003/- 8,415 Freehold reod17931996/- 127,973 Freehold expiring expiring expiring expiring expiring expiring expiring Tenure Carrying Carrying Tenure amount/ RM'000 Market 8762008 58,736 4042001/- 14,084 4321994/- 24,342 Value ,3 2009 9,532 ,5 2001/2005 1,050 8 1998/- 289 Acquisition Building Year of 2000/- Land/ of & Revaluation Year of ------Penang Daerah Timur Laut,  No. G.M.2046Lot 6634 No. GM.1989Lot 6633 No. GRN.3889Lot 1799 No. GM.442Lot 1289 LandArea Location Address Selangor DarulEhsan Selangor ofPetaling District Pekan Baru Sungai Buloh PT 370HS(D)145185 UnderDevelopmentProperties andLandHeldfor Development (contd.)  Lot 1475GMNo. 895 Lot 1472GMNo. 892 Lot 1477GMNo. 897 Lot 1479GMNo. 367 Lot 1517GMNo. 711 Lot 1476GMNo. 896 Lot 1515GMNo. 710 Lot 1480GMNo. 899 Lot 1478GMNo. 898 Lot 1473GMNo. 893 Lot 337GMNo. 545 Selangor DarulEhsan Selangor DaerahPetaling MKSungeiBuloh 145186-145191 PT 371-376HS(D) 103054-103057 PT 33491-33494HS(D) Wilayah Persekutuan KualaLumpur &Daerah Mukim Lot 6175GM2507 KualaLumpur of inMukim PT 6594HS(D)103602 PT 6595HS(D)103603 Penang Daerah BaratDaya, Lot 5827GMNo. 955  H.S.(M) 2541PT6384  Lot 945GMNo. 250 Lot 946GMNo. 659 Lot 736GMNo. 430 Lot 947GMNo. 251 Sungai Dua, 13, Mukim Tempat Daya, Penang 12,DaerahBarat Mukim Daya, Penang 11, DaerahBarat Mukim Daya, Penang 11, DaerahBarat Mukim built up (acre)/ 43.510 31.480 (sq ft) 15.11 1.400 3.133 3.434 area 2.04 2.35 4.01 0.36 1.91 0.79 1.85 1.51 1.10 5.08 1.51 4.47 1.24 1.96 7.84 1.41 1.29 0.76 2.79 Sunway Bukit Sunway Bukit D'MontKiara Damansara Damansara Damansara we yEitn s Age of ExistingUse by Owned Gambier Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Grand Grand Grand Grand Development Development Development Development Development Development Development (Taman Duta (Taman construction construction construction construction construction construction Sunway Giza Commercial Commercial Residential Residential Residential Residential Sunway Sunway Vacant Vacant Merica Vacant Mixed under under under under under under Prima land) building (years) Leasehold Leasehold 13.5.2095 13.5.2095 reod10,452 Freehold reod3,222 Freehold reod2,9 07-- 2007/- 28,490 Freehold reod106920/ - 2001/- 140,669 Freehold reod1,4 07-- 2007/- 12,549 Freehold reod1,7 07-- 2007/- 18,370 Freehold reod1,0 2005/- 10,306 Freehold expiring expiring Tenure Carrying Carrying Tenure as at 31 December 2009 December 31 at as amount/ RM'000 Market 39,345 87319/ - 1995/- 28,793 60119/ - 1995/- 86,051 Value 5,558 6,412 3,286 1,142 2,086 2,473 1,803 8,344 1,793 7,349 2,036 608 List Of Properties Of List Acquisition Building Year of 2009/- 2009/- 2008/- 2008/- 2007/- 2007/- 2007/- 2007/- 04-- 2004/- 2007/- 2007/- 2007/- 2007/- 2007/- 2007/- Land/ of Revaluation Year of - - 285 Sunway City Berhad Annual Report 2009 286

Sunway City Berhad Annual Report 2009 as at 31 December 2009 December 31 at as Properties Of List Completed for Properties Sale  PT 895,923  PT921, 922,908 PT 914,917,885,887 PT 892,910,911,912,913 919, 920 PT 909,915,916,918,  PT 3682,HS(D)5163  PT 45HS(D)118349  PT 34HS(D)118338 PT 1384HS(D)8437 PT 17230HS(D)9296  PN 11815PT61770 Persekutuan Negeri Wilayah Batu Mukim 1130 Mukim Geran Tempat Sungai Teba Lot 1899, LandArea Location Address KualaLumpur Daerah Setapak, Mukim PT No8667 HS(D) 113033 GRN. 67367Lot 30087 PT No8653& HS(D) 112594 GRN. 69599Lot 30086 Penang  Lot 2172GMNo. 1037 UnderDevelopmentProperties andLandHeldfor Development (contd.) Selangor , Selangor Bandar Sunway, Tengah, Penang PeraiDaerah Seberang Selangor Daerah Petaling Damansara Mukim DarulEhsan Selangor Daerah Petaling Bandar Sunway Selangor Daerah Petaling Bandar Sunway MK 9DaerahBaratDaya built up (acre)/ 1.005 / 0.404 / 0.044 / 0.098 / 5.134 / 43,773 22,324 14,587 56.473 (sq ft) 0.03 / 1,233 7.690 1,904 3,516 area 0.55 88 Sunway City South QuaySouth we yEitn s Age of ExistingUse by Owned Monash-U Monash-U Residence Melawati (Penang) Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Sunway Tunas City City City City City Development Development BusinessPark Business Park construction construction Lagoonview Casa Kiara Casa Kiara Residential Residence Properties (49units) (25 units) (2 units) (2 units) (5 units) Mentari Condo Block A Vacant Vacant Sun-U Mixed Mixed under under building (years) 51 Leasehold 15-19 0 Leasehold 10 Leasehold 10 reod352006 315 Freehold 4 Leasehold 7 Leasehold 4 15-May-2106 15-May-2106 11.03.2095 & 15-Jul-2104 21.10.2092 2-Apr-2106 2-Apr-2106 01.01.2097 01.04.2097 30.10.2093 Leasehold Leasehold reod5,6 2005/- 51,365 Freehold reod432000/- 433 Freehold expiring expiring 1.4.2097 expiring expiring expiring expiring expiring expiring expiring expiring Tenure Carrying Carrying Tenure & & & amount/ RM'000 5,7 2004 452,673 Market 79,903 Value ,5 1992/2000 5,857 ,7 1986/2001 1,674 ,8 1986/1998 2,289 ,4 2005 5,749 2 1986/1989- 221 Acquisition Building Year of Land/ 1993 2006 2005 of & & - Revaluation Year of ------Sydney, Australia Parish Melville Of ofCumberland County Plan 773643 Lot 1onDeposited Selangor DarulEhsan Selangor DaerahPetaling Sungei Buloh Mukim PT 369HS(D)145184 Phnom Penh, Cambodia Sangkat Wat, No. 1,Street 92, Overseas Properties LandArea Location Address  PN 11814PT61769 Perak BandarIpoh, DaerahKinta PT 12523Lot 013853S PT 12520Lot 013850S Perak DaerahKinta, MKUluKinta Jalan Tambun 72742-72743 PT 14431-14432HS(D) 72739-72740 PT 144728-144729HS(D) 72704-72707 PT 144693-144696HS(D) PT 144671HS(D)72682 72675-72680 PT 144664-144669HS(D) 72672-72673 PT 144661-144662HS(D) PT 171417HS(D)92949 PT 144572HS(D)72583 PT 144570HS(D)72581 PT 144564HS(D)72575 PT 144615HS(D)72626 PT 144598HS(D)72609 PT 144596HS(D)72607 Completed for Properties (contd.) Sale Selangor Daerah Petaling Bandar Sunway built up 148.250 126,802 125,313 (acre)/ 0.989 / 6.783 / 0.575 / 25,028 50,030 (sq ft) 2.91 / 1.15 / 4,999 area Phnom Penh Sunway City Damansara we yEitn s Age of ExistingUse by Owned Unit Trust Area Star Shop Offices ShopOffices Area Star Australia Sunway Sunway Sunway Sunway (Ipoh) Hotel City Condominium Commercial & Sunway Hotel Phnom Penh (24units) Industrial Industrial structure Palmville (2units) Carpark Carpark (3 units) Vacant building (years) 2 Leasehold 12 3 Leasehold 13 1 Leasehold 1 Leasehold 8 reod ,2 1,996 2,029 Freehold 3 27.10.2097 23.11.2100 28.04.2066 01.04.2097 reod5891997/- 5,899 Freehold expiring expiring expiring expiring expiring expiring Tenure Carrying Carrying Tenure as at 31 December 2009 December 31 at as amount/ RM'000 Market 36119/96- 1996/1996 23,621 990 9520 - 1995/2008 19,900 Value ,5 19/00 - 1994/2000 1,653 4 1986/1995 644 List Of Properties Of List Acquisition Building Year of Land/ of Revaluation Year of 2009 - - 287 Sunway City Berhad Annual Report 2009 288

Sunway City Berhad Annual Report 2009 # *  NOTES: 2009are ended31December asfollows:-period pursuant to theShareholders’ thefinancial during Mandate Transactions ofarevenue ortradingnature conducted Berhad, Related thedetailsofRecurrent Party Securities Note 12oftheListingRequirements ofBursaMalaysia Pursuant to Chapter 10,Paragraph 10.09(2)(b)andPractice Party TransactionsRelated Recurrent (c) Dekon Dekon (c) Sunway (b) Sunway (a) Financial Assistance”] to as“Provision of [hereinafter referred exceeding 3years) (i.e. for aduration not basis medium term or on ashort similar arrangements orsuch function management a centralisedtreasury Pooling offundsvia Financial Assistance Provision of building &civilworks, precast concrete andpilingcontracts. buildingcontracts &engineering works,mechanical, of prefabricated electrical construction in ofcivil&buildingworks, inter contracting alia,construction Include Jaya, andJalanUniversiti Selangor PJS 11/26A,46150Petaling Jaya, Selangor. Petaling BandarSunway, JalanLagoonSelatan, Jaya, Selangor; 46150Petaling atNo. Sun-UResidence 1,JalanPJSSelangor; 11/26,BandarSunway, 46150 Petaling JalanPJS Jaya, Selangor; 9/1G,BandarSunway, 46150Petaling Jaya, Sunway, 46150Petaling JalanPJS Jaya, Selangor; 7/16,BandarSunway, 46150 The addresses are ofthepremises/properties No. 5,JalanUniversiti, Bandar Group Bhd Sdn Holdings Group Bhd (“SEG”) Group Sdn Education Group Holdings”) (“Sunway Berhad Holdings Parties Related Mandated    Transactions services.* and related construction of Procurement properties.# premises/ of Rental services.* and related construction of Procurement Nature of Resort Hotel Bhd Sdn Resort to Sunwayits subsidiaries Assistance or by SunCity Provision ofFinancial Related Party Mandated Purchases RM’000 9,6 - 194,168 - 119,674 41,347 - RM’000 RM’000 Sales 25,974 (d) (c) (b) (a) Relationship ofRelated Group withSunCity Parties Bhd, a 52% owned subsidiary ofSunCity.Bhd, a52%owned subsidiary 48% deemedinterest Hotel Sdn inSunway Resort Pte Ltd Shareholderandhas isaMajor ofSunCity Government ofSingapore Investment Corporation Sunway HotelBhd Sdn Resort Group. Bhd HoldingsSdn ShareholderMajor ofDekon GroupSunCity andashareholder ofSunCity, isa MHashimwhoisaDirector of Datuk Razman Dekon BhdGroup HoldingsSdn SunCity, isalsoaDirector ofSEGGroup. Groupis aDirector ofSunCity andashareholder of 15% shareholdings. MHashimwho DatukRazman Group where viaacorporation have they more than Evan Cheah Yean Shinhave deemedinterests inSEG Directors ofSEGGroup. Sarena Cheah Yean Tih and ChengandSarenaCheah Seok Cheah Yean Tih are than 15%shareholding. (Dr)Susan Puan DatinSeri Sri in SEGGroup where viaacorporation hehasmore Director ofSEGGroup andhehasdeemedinterest Tan Dato’ Sri DrJeffrey Cheah Seri Fook Lingisa SEG Group ShareholderMajor ofSunway HoldingsGroup. ofSunwayseveral subsidiaries Holdingsaswell asa Berhad, isalsoaDirector andAlternate Director in ChenginSunwaySusan CheahSeok LagoonClub is theAlternate Director to (Dr) Puan DatinSeri Sri Tan Dato’ Sri DrJeffrey Cheah Seri Fook Ling, who Holdings Group. Evan Cheah Yean Shin,thechildof ShareholderGroupa Major ofSunCity andSunway aswell as Director ofSunCity inseveral subsidiaries Dr Jeffrey Cheah Fook Ling, isaDirector andAlternate Sarena Cheah Yean Tih, thechildof Tan Dato’ Sri Seri Shareholderand aMajor ofSunway HoldingsGroup. ofSunway Holdings) subsidiary (a wholly-owned is alsoaDirector ofSunway Bhd Sdn Management ShareholderGroup, andaMajor ofSunCity SunCity) of (a84%owned subsidiary Lagoon ClubBerhad Jeffrey Cheah Fook Ling, whoisaDirector ofSunway Cheng,Seok thespouseof Tan Dato’ Sri Dr Seri Holdings Group. (Dr)SusanCheah Puan DatinSeri Sri ShareholderGroupa Major ofSunCity andSunway andSunwayDirector ofSunCity Holdingsaswell as Tan Dato’ Sri DrJeffrey Cheah Seri Fook Lingisa Sunway HoldingsGroup # 2 1 NOTES: deemed to have hasaninterest. aninterest SunCity to theextent intheshares ofSunCity ofallthesubsidiaries of virtue By Tan Dato’ Sri DrJeffrey Cheah Seri Fook Ling’s substantialinterest intheshares ofSunCity, heisalso Tan Dato’ Sri DrJeffrey Cheah Seri Fook Ling Deemed Interest Teo Tong How Tan Dato’ Sri Ir Talha Hashim BinHajiMohd Ngeow Voon Yean Ngian Siong Siew Datuk Razman MHashim Datuk Razman Tan Dato’ Sri DrJeffrey Cheah Seri Fook Ling InterestDirect Tan Dato’ Sri DrJeffrey Cheah Seri Fook Ling Deemed Interest Ngeow Voon Yean Ngian Siong Siew Datuk Razman MHashim Datuk Razman Tan Dato’ Sri DrJeffrey Cheah Seri Fook Ling InterestDirect Datin Paduka Low Moi Siew Tan Siak Tee Teo Tong How Tan Dato’ Sri Ir Talha Hashim BinHajiMohd InterestDirect Ngian Siong Siew Negligible. 6AoftheCompanies 1965heldthrough Act, ofSection spouse. interestDeemed by virtue Bhd, Sdn Sungei Enterprise Way Bhd, Sdn Corporation spouseandchild. 6AoftheCompanies 1965heldthrough Act, Bhd, Sdn ofSection Active interest Active Equity Bhd,Deemed BuilderSdn Jef-San by virtue Options Over Ordinary Shares And SharesWarrants Ordinary Over Options 2 1 1

Directors’Shares, In Interests Options overOptions Shares ofRM1.00each Ordinary 192,473,117 Ordinary Shares ofRM1.00each Ordinary 12,823,251 67,195,939 5,817,591 as at 22 April 2010 April 22 at as 300,000 380,000 100,000 131,096 25,000 10,000 20,000 3,343 6,676 No. No. Warrants 2007/2017 50,000 50,000 50,000 50,000 40.96 43.83 0.01 0.06 0.08 2.73 0.07 0.09 3.79 No. % % # # # # 289 Sunway City Berhad Annual Report 2009 290

Sunway City Berhad Annual Report 2009 THIRTY LARGEST SHAREHOLDERSASPERRECORD LARGEST THIRTY OFDEPOSITORS DISTRIBUTION OFSHAREHOLDINGS Authorised Share Capital 2010 April 22 at as Shareholdings Of Analysis Voting Rights Class ofShares Issued andPaid-up Share Capital 17. 16. 15. 14. 13. 12. 11. 10. 9. 8. 7. 6. 5. 4. 3. 1. 2. 100,001 -23,497,570(Less than 23,497,571(5%)andabove 5%ofissuedshares) 10,001 -100,000 1,001 -10,000 100 -1,000 Less than100 Size ofShareholdings Lim Suan Timah Bhd Sini-SanaSdn - BBHandCo Boston HSBC Nominees(Asing) Bhd Sdn Amanahraya Trustees Berhad Active Bhd BuilderSdn Inc. DragonEnterprises Oriental Bhd Sdn Active Equity Progressive Traders Bhd Sdn Strategic Alpha Ventures Bhd Sdn - NomuraAsset Mgmt Malaysia Bhd HSBC Nominees(Tempatan) Sdn Tan DrJeffrey Dato' Cheah Sri Seri Fook Ling Bhd Sdn Enterprise Jef-San Teng Yew Huat Dato’ LimSay Chong ABB Nominee (Tempatan) Sdn Bhd ABB Nominee(Tempatan) Sdn Sungei Way Bhd Sdn Corporation atbnNmne Aig d h GovernmentofSingapore Investment Nominees(Asing) Bhd Sdn Cartaban Name ofShareholders - - - - o fSaeodr fSaeodr o fSae ed%ofShareholdings No. ofShares Held %ofShareholders No. ofShareholders One vote pershare Shares ofRM1.00each Ordinary Shares ofRM1.00each 469,951,432Ordinary RM469,951,432 comprising 200,000,000 Cumulative Preference Convertible Shares ofRM1.00each Shares ofRM1.00eachand 800,000,000Ordinary RM1,000,000,000 comprising 5,220 1,944 2,651 120 350 152 Sungei Way Bhd Sdn Corporation 3 GMO Emerging Markets FundGMO Emerging Markets for GovernmentofSingapore aeo eeiilOnr N.o hrs% No. of Shares Owners Name ofBeneficial Employees Provident Fund Amanah Saham Malaysia Amanah SahamMalaysia Corporation PteCorporation Ltd ------100 469,951,432 100.00 3.4 7,425,190 2,507,409 37.24 50.79 23 202,234,100 11,530,795 2.30 6.70 00 246,252,239 0.06 2.91 1,699 0,0,0 21.28 100,000,000 0,5,3 22.61 106,252,239 183212.51 3.36 11,813,251 3.36 15,801,045 4.47 15,813,800 8.51 21,022,000 40,000,000 ,7,0 0.93 1.11 4,375,700 1.13 5,213,409 5,316,038 ,7,0 1.36 6,374,100 ,2,3 1.39 1.48 6,523,930 1.65 6,963,200 1.69 7,776,552 1.75 7,958,490 8,234,900 ,0,0 1.87 8,806,200 100.00 43.03 52.40 2.46 1.58 0.53 0.00 * #f #e #d #c #b #a  NOTES: SUBSTANTIAL SHAREHOLDERS 30. 29. 28. 27. 26. 25. 24. 23. 22. 21. 20. 19.  interest Deemed • Directinterest • 1. 18. interest Deemed • Directinterest • interest Deemed 4. • Directinterest • 3. 7. interest Deemed • Directinterest • interest Deemed 6. • 5. interest Deemed • Directinterest • 2.

Negligible. 6AoftheCompanies 1965heldthrough Act, ofSection Progressive interestDeemed by virtue Traders Bhd, Sdn Sungei Way Bhdand Sdn Corporation Timah Bhd. Sini-Sana Sdn 6AoftheCompanies 1965heldthrough Act, ofSection Sungei interestDeemed by virtue Way Bhdand Sdn Corporation Timah Bhd. Sini-Sana Sdn 6AoftheCompanies 1965heldthrough Act, ofSection interestDeemed by virtue Timah Bhd. Sini-SanaSdn 6AoftheCompanies 1965heldthrough Act, Bhd, Sdn ofSection Active interest Active Equity Bhd,Deemed BuilderSdn Sungei by virtue Way Bhdandparents. Sdn Corporation Bhd, 6AoftheCompanies Sdn 1965heldthrough Act, Sungei Enterprise ofSection Jef-San interestDeemed by virtue Way Bhd, Sdn Corporation spouseandchild. Bhd, Sdn Corporation spouseandchild. 6AoftheCompanies 1965heldthrough Act, Bhd, Sdn ofSection Active Bhd, interest Active Sdn Equity Bhd,Deemed BuilderSdn Sungei Enterprise Jef-San by virtue Way - CBNY Citigroup Nominees(Asing) Bhd Sdn Sdn Bhd Sdn Bhd-PheimSdn Asset Management Alliancegroup Nominees(Tempatan) Amanahraya Trustees Berhad - Mayban - Mayban Trustees Berhad Bhd Nominees(Tempatan)Mayban Sdn Teng Yew Huat Mayban Nominees (Tempatan) Sdn Bhd Etiqa Insurance Berhad (Life Berhad Par EtiqaInsurance Fund) Bhd Nominees(Tempatan)Mayban Sdn HSBC Nominees (Tempatan) Sdn Bhd HSBC Nominees(Tempatan) Sdn Amanah Raya Berhad Berhad Amanah Raya Mayban Nominees (Tempatan) Sdn Bhd Mayban Life Mayban Assurance Berhad Bhd Nominees(Tempatan)Mayban Sdn - Exempt AN Citigroup Bhd Nominees(Tempatan) Sdn - Exempt AN HSBC Nominees(Asing) Bhd Sdn - Public Limited Securities Public Invest Nominees(Asing) Bhd Sdn Tan Dato’ Sri DrJeffrey Cheah Seri Fook Ling - Exempt AN Nominees(Asing) Bhd Sdn Cartaban Sungei Way Bhd Sdn Corporation Sarena Cheah Yean Tih Government ofSingapore Government ofSingapore Investment Pte Corporation Ltd for Active Equity Sdn Bhd Sdn Active Equity Timah Dunia Dredging Bhd Sdn Cheng (Dr)SusanCheahSeok Puan DatinSeri Sri Name ofShareholders Name ofShareholders #f #e #d #c #b #a rdtSis euiis(uoe iie ,4,0 0.84 3,946,500 (Europe)Credit SuisseSecurities Limited rdnilFn aaeetBra ,1,0 0.62 2,913,900 Prudential Fund Berhad Management Public IslamicSelect Treasures Fund J.P. Morgan BankLuxembourg S.A. Sungei Way Bhd Sdn Corporation Dimensional Emerging Markets Dimensional Emerging Markets aeo eeiilOnr N.o hrs% No. of Shares Owners Name ofBeneficial Jefferson Agencies Limited Employees Provident Fund Kumpulan Wang Bersama Saham AmanahSabah Value Fund - Analysis Of Shareholdings Of Analysis as at 22 April 2010 April 22 at as o fSae % No. ofShares 0,0,0 21.28 100,000,000 205,286,368 205,286,368 162,351,590 5,9,0 32.85 154,393,100 149,179,691 192,473,117 12,823,251 ,3,0 0.30 1,430,000 ,2,0 0.32 1,522,000 ,7,0 0.36 1,679,900 ,0,0 0.38 1,800,000 ,2,0 0.37 1,727,600 ,0,0 0.43 2,000,000 ,3,0 0.43 2,035,500 ,4,0 0.48 2,240,000 ,8,6 0.68 3,189,766 ,5,0 0.71 3,353,400 ,6,0 0.76 3,565,000 7,776,552 5,213,409 10,000 10,000 43.68 43.68 34.55 31.74 40.96 1.65 1.11 2.73 * * 291 Sunway City Berhad Annual Report 2009 292

Sunway City Berhad Annual Report 2009 THIRTY LARGEST LARGEST THIRTY WARRANTHOLDERS ASPERRECORD OFDEPOSITORS DISTRIBUTION OF WARRANTHOLDINGS 2010 April 22 at as WarrantholdingsOf Analysis 16. 15. 14. 13. 12. 11. 10. 9. 8. 7. 6. 5. 4. 3. 2. 1.

100,001 -7,664,866(Less than 10,001 -100,000 7,664,867(5%)andabove inissue) 5%ofwarrants 1,001 -10,000 100 -1,000 Less than100 Size of Warrantholdings Mayban Nominees (Tempatan) Sdn Bhd Nominees(Tempatan)Mayban Sdn RHB Capital Bhd Nominees(Tempatan) Sdn Timah Bhd Sini-Sana Sdn - Lehman Asia Brothers Limited Securities Nominees(Asing) Bhd Sdn Cartaban Sungei Jaya Bhd Sdn Active Bhd BuilderSdn Dato’ LimSay Chong Progressive Traders Bhd Sdn Bhd Sdn Active Equity - BHLB Trustee Berhad CIMB Group Bhd Nominees(Tempatan) Sdn - BBHandCo Boston HSBC Nominees(Asing) Bhd Sdn Inc. DragonEnterprises Oriental Bhd Sdn Enterprise Jef-San Tan DrJeffrey Dato' Cheah Sri Seri Fook Ling atbnNmne Aig d h GovernmentofSingapore Investment Nominees(Asing) Bhd Sdn Cartaban Sungei Way Bhd Sdn Corporation Name of Warrantholders o fWratodr fWratodr o fWrat ed%of Warrantholdings No. of Warrants Held %of Warrantholders No. of Warrantholders 2,193 1,080 HLG Asia-PacificIncome Plus Property 256 631 154 70 2 Lehman Brothers Commercial GMO Emerging Markets FundGMO Emerging Markets for GovernmentofSingapore aeo eeiilOnr N.o arns% No. of Warrants Owners Name ofBeneficial Corporation AsiaCorporation Limited Corporation PteCorporation Ltd Beh ChanPin Susy Ding Fund ------100 153,297,344 100.00 1.7 8,307,610 2,420,350 11.67 28.77 49.25 31 58,825,607 3.19 00 83,212,926 0.09 7.03 524,526 6,325 3333321.74 33,333,333 9895332.54 49,879,593 ,8,0 0.77 1,185,000 ,3,0 0.94 1,433,900 ,5,0 1.14 1,750,000 ,3,0 1.13 1,737,803 ,7,5 1.35 1.42 2,076,055 1.70 2,174,643 1.73 2,608,700 2.02 2,652,830 3,092,184 2.25 3,454,300 2.87 4,395,496 ,9,9 2.93 3.44 4,494,693 3.58 5,267,015 5,480,925 100.00 38.37 54.28 5.42 1.58 0.34 0.01 30.  29. 28. 27. 26. 25. 24. 23. 22. 21. 20. 19. 18. 17.

Public Bhd Nominees(Tempatan) Sdn - Exempt AN HSBC Nominees(Asing) Bhd Sdn - Kim Eng Securities Pte Ltd EngSecurities - Kim Nominees(Asing) Bhd Sdn Ke-Zan Chong KuanSang Chong ChengSing OSK Nominees (Tempatan) Sdn Bhd OSK Nominees(Tempatan) Sdn Dato’ Tan Loke Kia Sdn Bhd Sdn Nominees(Tempatan) Securities Mayban - HongLeong BankBhd HLG Bhd Nominee(Tempatan) Sdn Teng Yew Huat Ngan Teng Han Yap ChiKeong - Kim Eng Securities Pte Ltd EngSecurities - Kim Inter-Pacific Nominees (Asing) Sdn BhdEquity - Amara Investment Management Sdn Bhd Sdn - AmaraInvestment Management Bhd RHB Nominees(Tempatan) Sdn Name of Warrantholders Chumpon Chantharakulpongsa Chuan Hong Hang Sdn Berhad Chuan HongHangSdn aeo eeiilOnr N.o arns% No. of Warrants Owners Name ofBeneficial The BankofNew York Mellon Lim ChuanSeng Lim EngKwee Wong Yee Hui Lee Siu Wah Ng Kok Hin Ng Kok ------Analysis Of WarrantholdingsOf Analysis as at 22 April 2010 April 22 at as ,3,0 0.67 1,031,000 7,0 0.24 370,000 8,6 0.32 487,266 4,0 0.35 540,000 4,0 0.36 549,900 4,6 0.35 0.36 542,066 549,800 5,0 0.36 555,000 8,0 0.38 582,300 0,0 0.46 700,000 0,0 0.46 0.48 700,000 0.50 740,000 759,500 5,0 0.55 850,000 293 Sunway City Berhad Annual Report 2009 294

Sunway City Berhad Annual Report 2009 .To receive theAudited Financial Statements for ended thefinancialperiod 1. AS ORDINARY BUSINESS DarulEhsanonFriday,Selangor 25June2010at4.00p.m. for thefollowing purposes:- at GrandBahamas, Level Hotel &Spa,Persiaran 12,Sunway Resort Lagoon,BandarSunway, 46150Petaling Jaya, NOTICE ISHEREBY GIVEN THAT the26 Meeting General Annual 26th Of Notice .To share declare less25%incometax afinaldividendof5%perordinary for the 2. .To approve thefollowing increase inDirectors’ fees andto approve the 3. .To thefollowing Directors:- re-elect 4. .To considerandifthoughtfit, to passthe following resolutions inaccordance 5. .To & Ernst Messrs re-appoint Young asAuditors oftheCompany for the 6. 31 December 2009 together with the Directors’ and Auditors’ Reports thereon. (Ordinary Resolution 1) Resolution (Ordinary 2009together31 December withtheDirectors’ andAuditors’ thereon. Reports financial period ended 31 December 2009 as recommended by the Directors. (Ordinary Resolution 2) (Ordinary December 2009as ended31 recommended financial period by theDirectors. (b) (a) 2009:- 31 December payment ofDirectors’ fees totalling RM276,000/-for ended thefinancialperiod 4.3 4.2 4.1 5.2 5.1 129oftheCompanies 1965:- Act, with Section ensuing year theDirectors andto to authorise fixtheir remuneration. Guan and Tan Siak Tee. Directors namely DatinPaduka Low Moi, Siew Teo Tong How, LimSwe from RM18,000/-to RM36,000/-perannumfor theotherNon-Executive Non-Executive and Independent Director; Hashim,theSenior Mohd from RM30,000/-to RM40,000/-perannumfor Tan Dato’ Sri Ir Talha BinHaji Association andbeingeligible, offers himself for re-election. Ho HonSangretires 77(2)oftheCompany’s of pursuantto Article Articles ofAssociation andbeingeligible,Articles offers himself for re-election. Lim Swe Guanretires 78oftheCompany’s by rotation pursuantto Article re-election. the Company’s ofAssociation andbeingeligible, Articles offers herself for Datin Paduka Low retires Moi Siew 78of by rotation pursuantto Article Annual General Meeting oftheCompany.” Meeting Annual General as aDirector oftheCompany to holdofficeuntiltheconclusionofnext M Hashimwhoisover theageof70years, beandishereby re-appointed “THAT 129oftheCompanies 1965,DatukRazman Act, pursuantto Section oftheCompany.” Meeting AnnualGeneral conclusion ofthenext hereby asaDirector oftheCompany re-appointed to holdofficeuntilthe Ir Talha Hashimwhoisover BinHajiMohd theageof70years, beandis “THAT 129oftheCompanies 1965, Act, pursuantto Section Tan Dato’ Sri th Annual General Meeting ofSUNWAY Meeting AnnualGeneral BERHAD CITY (Ordinary Resolution 3) Resolution (Ordinary (Ordinary Resolution 6) Resolution (Ordinary 5) Resolution (Ordinary 4) Resolution (Ordinary (Ordinary Resolution 8) Resolution (Ordinary 7) Resolution (Ordinary (Ordinary Resolution 9) Resolution (Ordinary (87564-X) willbeheld AGM oftheCompany, hasnotofferedAccordingly, himself for hewill re-election. retire attheconclusionof26th AGM. Teo Tong How whoisretiring78oftheCompany’s by rotation26th ofAssociation pursuanttoattheforthcoming Article Articles EXPLANATORY NOTE OFDIRECTOR: ONRETIREMENT 6. 5. 4. 3. 2. 1. NOTES: 1 June2010 Petaling Jaya Company Secretaries LEE SUAN CHOO(MAICSA 7017562) TAN KIMAUN (MAICSA 7002988) PUAN SRIDATIN SERI(DR)SUSANCHEAHSEOKCHENG(MIA5601) OrderBy oftheBoard (b) (a) A Depositorshallqualifyfor entitlementto thedividendonlyinrespectof: of Depositorson24August 2010. 2009willbepaidon22September 2010toended 31December Depositorsregistered ontheCompany’s Record share less25%incometax to beheldon25June2010,afinaldividendof5%perordinary for thefinancialperiod NOTICE ISHEREBY GIVEN THAT to theapproval subject oftheshareholders Meeting atthe26thAnnualGeneral NOTICE OFDIVIDENDENTITLEMENTANDPAYMENT time appointed for holdingthemeetingorany thereof. adjournment the original form shallalsobedeposited attheRegistered either byhandorpostnotlessthan48hoursbefore Office, the thecasewhere andtheproxyto thememberisacorporation form 03-56399507.In isdelivered by faxorelectronicmail, before thetimeappointed for holdingthemeetingorany thereof, adjournment eitherby hand, post,electronicmailorfax Sunway, JalanLagoon Timur, BandarSunway, 46150Petaling notlessthan48hours Jaya, DarulEhsan,Malaysia Selangor The instrumentappointingaproxy mustbe deposited attheRegisteredof Company at Office Menara Level 16, shares oftheCompany standingto Account. thecredit ofthesaidSecurities it may appointatleast1proxy butnotmore than2proxies Account itholdswithordinary inrespectofeachSecurities 1991, (CentralDepositories) Act Industry Where Securities amemberisanAuthorised Nomineeas definedunderthe represented by eachproxy. amemberappoints2proxies,If theappointmentwillbeinvalid unlesshestates thepercentage ofhisshareholding to be duly authorised. writing, eitherunderthecorporation’s oriftheappointer isacorporation, seal, orunderthehandofanofficerattorney in The instrumentappointingaproxyunder thehandofappointer dulyauthorised orofhisattorney shallbeinwriting stead. Aproxy may butneednotbeamemberoftheCompany. A memberoftheCompany entitledto attend andvote, isentitledto appointaproxy orproxies to attend andvote inhis this AGM shallbedeemedto beheldfor thecalendaryear 2009. Financial Statements madeupfrom 1July2008to 31December 2009aswellbusinesses, and asotherordinary AGM inthecalendaryear 2009.Hence, 26thAGM theforthcoming willbeheldto tablethe18-month Audited June 2010for theCompany to holditsAGM ofthecalendaryear inrespect 2009. The Company didnotholdany calendar year. The Companies Commission ofMalaysia hadgranted itsapproval for anextension oftimeuntil 30 143(1) oftheCompanies Act, 1965states that anAnnual (“AGM”) General Meeting mustbeheldonce inevery made to BursaMalaysia on12December Berhad 2008onthechange offinancial Securities year end.Section The Company haschangeditsfinancial year endfrom 30June to 31December andanannouncement hasbeen Bursa Malaysia Securities Berhad. Securities Bursa Malaysia onacumentitlementbasis according Berhad to theRulesof Securities boughtonBursaMalaysia Securities transfers; and transferredSecurities into theDepositor’s accountbefore securities 4.00p.m. on24August 2010inrespectof Notice Of 26th Annual General Meeting General Annual 26th Of Notice 295 Sunway City Berhad Annual Report 2009 296

Sunway City Berhad Annual Report 2009 .To thefollowing Directors:- re-elect 1. AS ORDINARY BUSINESS venue, for thefollowing purposes:- whichwillbeheldat4.00p.m.may Meeting be)ofthe26thAnnualGeneral onthesameday andatthesame DarulEhsanonFriday,Selangor 25June2010immediately following (asthecase theconclusionoradjournment at GrandBahamas, Level Hotel &Spa,Persiaran 12,Sunway Resort Lagoon,BandarSunway, 46150Petaling Jaya, NOTICE ISHEREBY GIVEN THAT the27 Meeting General Annual 27th Of Notice 2. To consider and if thought fit, to pass the following resolutions in accordance in resolutions following the pass to fit, thought if and consider To 2. .To Messrs Ernst & re-appoint Young as Auditors of the Company for the ensuing 3. 4. To considerandifthoughtfit, to passthe followingResolutions:- AS SPECIALBUSINESS 1.3 1.2 1.1 2.2 2.1 129oftheCompanies 1965:- Act, with Section year theDirectors andto to authorise fixtheir remuneration. General Meeting oftheCompany.” Meeting General shallcontinueto beinforceauthority Annual untiltheconclusion ofthenext the listingofandquotationfor theadditionalshares soissuedand THAT such empowered to obtaintheapproval for Berhad from Securities BursaMalaysia the Company for thetimebeingand THAT theDirectors beandare also to thisresolution doesnotexceed 10%ofthetotal issuedshare capitalof Company, provided thattheaggregate numberofshares issuedpursuant in theirabsolute discretion deemfitandexpedientintheinterest ofthe for andto suchperson(s)whomsoever suchpurposes astheDirectors may in theCompany atany timeatsuchprice, andconditions, upon suchterms 132DoftheCompanies 1965to Act, sharesto issueandallotnew Section authorities, theDirectors beandareregulatory hereby empowered pursuant of Association andtheapprovals oftherelevant government and/or “THAT always to subject theCompanies 1965,theCompany’s Act, Articles Act, 1965 Authority to IssueShares 132DoftheCompanies pursuant to Section ORDINARY RESOLUTION: Articles ofAssociation andbeingeligible,Articles offers himself for re-election. Ngian Siew Siong retires by rotation pursuant to Article 78 of the Company’s ofAssociation andbeingeligible,Articles offers himself for re-election. Ngeow Voon Yean retires by rotation pursuant to Article 78 of the Company’s himself for re-election. Company’sthe of 78 Associationof eligible,being and Article offers Articles to pursuant rotation by retires Ling Fook Cheah Dato’Jeffrey Tan Sri Dr Seri Annual General Meeting oftheCompany.” Meeting Annual General next the of conclusion the until Companyoffice the tohold Directorof a as re-appointed hereby is and be years, 70 of age the over is who Hashim M Razman Datuk 1965, Act, Companies the of 129 Section to pursuant “THAT oftheCompany.” Meeting AnnualGeneral conclusion ofthenext the until office hold to Company the is of Director and a be as re-appointed years, hereby 70 of age the over is who Hashim Mohd Haji Bin Dato’Talha Ir Sri Tan 1965, Act, Companies the of 129 Section to pursuant “THAT th Annual General Meeting ofSUNWAY Meeting AnnualGeneral BERHAD CITY (Ordinary Resolution 3) Resolution (Ordinary 2) Resolution (Ordinary 1) Resolution (Ordinary (Ordinary Resolution 5) Resolution (Ordinary 4) Resolution (Ordinary (Ordinary Resolution 6) Resolution (Ordinary (Ordinary Resolution 7) Resolution (Ordinary (87564-X) willbeheld 5. 6. contemplated and/or authorised by this Ordinary Resolution.”contemplated by thisOrdinary and/orauthorised such documentsasmay berequired) to give effect to thetransactions to andthings(includingexecuting complete anddoallsuchacts THAT beandishereby given authority to theDirectors oftheCompany whichever istheearlier. (c) (b) (a) shall continueto beinforce until:- THAT shallcommenceuponthepassingofthisresolution and suchauthority regulations. ofAssociation andallotherapplicablelaws, guidelines,Articles rulesand theCompany’sBerhad, Act”), Companiesand 1965(“the Act, Memorandum to thecompliancewithListingRequirements Securities ofBursaMalaysia shareholdersand are oftheCompany, to theminority notdetrimental subject favourable thanthosegenerallyavailable to to therelated thepublic parties courseofbusinessandare notmore onterms outintheordinary and carried to Shareholders dated 1June2010whichare ofarevenue ortradingnature 2DoftheCircular operationsassetoutinSection for theday-to-day necessary to from enter into transactions timeto recurrent time, whichare related party “THAT approval beandishereby given to theCompany anditssubsidiaries Transactions ofaRevenue or Trading Nature Proposed Shareholders’ Mandate for Recurrent Related Party ORDINARY RESOLUTION: other applicablelaws, guidelines, rulesandregulations. theCompany’s ofAssociation andall Act”), andArticles (“the Memorandum Berhad, CompaniesListing Requirements 1965 Act, Securities ofBursaMalaysia shareholders oftheCompany,the minority to thecompliancewith subject Group thanthose generallyavailable to thepublicandare to notdetrimental favourable to theGovernment ofSingapore Investment Pte Corporation Ltd courseofbusinessandare notmore onterms outintheordinary and carried to Shareholders dated 1June2010which are ofarevenue ortradingnature 2DoftheCircular operationsassetoutinSection for theday-to-day necessary Government ofSingapore Investment Pte Corporation Ltd Group, whichare to from enter into transactions timeto recurrent timewiththe related party “THAT approval beandishereby given to theCompany anditssubsidiaries Government ofSingapore Investment Corporation Ltd Pte Group Transactions ofaRevenue or Trading Nature involving theinterest ofthe Proposed Shareholders’ Mandate for Recurrent Related Party ORDINARY RESOLUTION: meeting, byrevoked resolution orvaried passedby theshareholders ingeneral or the Act); asmay to beallowed suchextension extend 143(2)of pursuantto Section is required (butmustnot 143(1)oftheAct to beheldpursuantto Section AGM oftheCompany withinwhichthenext the expirationofperiod AGM, themandatepassed atthenext isrenewed; or Company atwhichtimethemandate willlapse, unlessby aresolution (“AGM”) Meeting AnnualGeneral the conclusionofnext ofthe Notice Of 27th Annual General Meeting General Annual 27th Of Notice (Ordinary Resolution 8) Resolution (Ordinary 297 Sunway City Berhad Annual Report 2009 298

Sunway City Berhad Annual Report 2009 7. Notice Of 27th Annual General Meeting General Annual 27th Of Notice (c) (b) (a) the Company PROVIDED THAT:- and conditionsastheDirectors may deemfitandexpedientintheinterest of of theCompany from timeto uponsuchterms timethrough BursaSecurities shares ofRM1.00eachintheCompany asmay by bedetermined theDirectors Company beandishereby to purchase authorised suchamountof ordinary (“BursaSecurities”) Berhad andany otherrelevantSecurities authorities, the ofAssociation, theListingRequirements ofBursaMalaysia and Articles orders madepursuantto provisions theAct, oftheCompany’s Memorandum rules, regulations“THAT and to Act”), theCompanies subject 1965(“the Act, Proposed Authority for thePurchase Shares ofOwn by theCompany ORDINARY RESOLUTION: contemplated and/or authorised by this Ordinary Resolution.”contemplated by thisOrdinary and/orauthorised such documentsasmay berequired) to give effect to thetransactions to andthings(includingexecuting complete anddo allsuchacts THAT beandishereby given authority to theDirectors oftheCompany whichever istheearlier. (c) (b) (a) shall continueto beinforce until:- THAT shallcommenceuponthepassingofthisresolution and suchauthority until:- andwillcontinueto Resolution beinforceupon passingofthisOrdinary conferredthe authority by thisresolution willcommenceimmediately retained profits and/orshare premium accountatany pointoftime; purchasing Shares theSunCity shallnotexceed theCompany’s audited the maximumfundsto beallocated by theCompany for of thepurpose Securities; minimum share capitalrequirements oftheListingRequirements ofBursa paid-up share capitaloftheCompany doesnotfallbelow theapplicable Company atany thattheissuedand to pointoftime, arestriction subject shall notexceed 10%oftheissuedandpaid-upshare capitalofthe Shares”)(“SunCity whichmay bepurchased and/orheldby theCompany the aggregate shares ofRM1.00eachintheCompany numberofordinary meeting, byrevoked resolution orvaried passedby theshareholders ingeneral or the Act); asmay to beallowed suchextension extend 143(2)of pursuantto Section is required (butmustnot 143(1)oftheAct to beheldpursuantto Section AGM oftheCompany withinwhichthenext the expirationofperiod AGM, themandatepassed atthenext isrenewed; or Company atwhichtimethemandate willlapse, unlessby aresolution (“AGM”) Meeting AnnualGeneral the conclusionofnext ofthe (Ordinary Resolution 9) Resolution (Ordinary 8. expedient inthebestinterest oftheCompany.” things (includingexecuting alldocuments)astheDirectors may deemfitand required orimposedby and therelevantandto doallsuchacts authorities to any conditions, modifications, and/oramendmentsasmay be variations to effect thepurchase(s) Shares oftheSunCity withfullpowers to assent orexpedientto implement,finaliseor allsuchsteps asaretake necessary AND THAT theDirectors oftheCompany beandare hereby to authorised (d) the money therebythe money represented. ofthepersonentitledto shallbesentattherisk suchchequeorwarrant Every discharge to theCompany inrespectofthedividend represented thereby. may directandthepayment ofany shalloperate asagood chequeorwarrant oftheholder entitled to theshare inconsequence ofthedeathorbankruptcy person to whomitissentorto suchpersonastheholderorpersons shallbemadepayable to suchchequeorwarrant theorder ofthe direct. Every persons orto suchpersonandto suchaddress assuchpersonsmay inwriting oftheholder,consequence ofthedeathorbankruptcy to any one(1)ofsuch andtheRulesor, Act Depositories ifseveral personsare entitledthereto in registered address oftheholder, to theCompanies subject theCentral Act, andsentcashthroughbe paidby chequeorwarrant thepostdirected to the dividend, interest payable orothermoney incashrespectofshares may Save for 124,any any dividendto by aspermitted bedistributed Article 129 Existing Article 129:- Article 129initsentiretyandsubstitutingthefollowing new the existingArticle “THAT theCompany’s ofAssociation behereby amendedby Articles deleting Association Payment Dividend on Electronic (eDividend) Proposed 129oftheCompany’s Amendment to Article of Articles SPECIAL RESOLUTION: time beinginforce. andanyRequirements otherrelevantfor ofBursaSecurities authorities the rules,the Act, regulations andorders madepursuantto theListing the Act, shares andcanceltheremainder andinany othermannerasprescribed by Shares oftheSunCity sopurchasedcancelled), orto astreasury retain part to shareholders and/orsubsequently and/orresold onBursaSecurities sharespurchased (of whichmay astreasury asdividends bedistributed Sharescancel theSunCity sopurchased orto retainShares theSunCity so Company, theDirectors oftheCompany beandare hereby to authorised upon completionofthepurchase(s)Shares oftheSunCity by the whichever occursfirst;and (iii) (ii) (i) of theCompany inageneralmeeting, passedby Resolution theshareholders byrevoked Ordinary orvaried date isrequired by law to beheld;or AGM that after withinwhichthenext the expirationofperiod to conditions;or isrenewed,meeting, theauthority eitherunconditionallyorsubject passedatthe Resolution which timeitshalllapseunlessby Ordinary (“AGM”) Meeting AnnualGeneral the conclusionofnext at Notice Of 27th Annual General Meeting General Annual 27th Of Notice (Ordinary Resolution 10) Resolution (Ordinary 299 Sunway City Berhad Annual Report 2009 300

Sunway City Berhad Annual Report 2009 6. 5. 4. 3. 2. 1. NOTES: Meeting General Annual 27th Of Notice 1 June2010 Petaling Jaya Company Secretaries LEE SUAN CHOO(MAICSA 7017562) TAN KIMAUN (MAICSA 7002988) PUAN SRIDATIN SERI(DR)SUSANCHEAHSEOKCHENG(MIA5601) OrderBy oftheBoard appointed for holding themeetingorany thereof. adjournment original form shallalsobedeposited atthe Registered either byhandorpostnotlessthan48 hoursbefore Office, thetime thecasewhere andtheproxy the memberisacorporation form03-5639 9507.In isdelivered by faxorelectronicmail, the the timeappointed for holdingthemeetingorany thereof, adjournment eitherby hand, post, electronicmailorfaxto Jalan Lagoon Timur, BandarSunway, 46150Petaling notlessthan 48 hoursbefore Jaya, DarulEhsan,Malaysia Selangor The instrumentappointing aproxy mustbedeposited attheRegisteredof Company at Office MenaraSunway,Level 16, the Company standingto Account. thecredit ofthesaidSecurities appoint atleast1proxy butnotmore shares than2proxies Account of itholdswithordinary inrespectofeach Securities 1991,itmay (CentralDepositories) Act Industry Where Securities amemberisanAuthorised Nomineeasdefinedunderthe represented by eachproxy. amemberappoints2proxies,If theappointmentwillbeinvalid unless hestates thepercentage ofhisshareholding to be duly authorised. writing, eitherunderthecorporation’s oriftheappointer isacorporation, seal, orunderthehandofanofficerattorney in The instrumentappointingaproxyunderthehandofappointer dulyauthorised orofhisattorney shallbe inwriting stead. Aproxy may butneednotbeamemberoftheCompany. A memberoftheCompany entitledto attend andvote, isentitledto appointaproxy orproxies to attend andvote inhis Statements for thefinancialperiodended31December 2009willbetabled at the26th AGM. year 2010. There willbenoAudited Financial Statements tabledat thisAGM. The 18-month Audited Financial calendaryear.every Therefore, 27thAGM theforthcoming oftheCompany ofthecalendar willbeheldinrespect 143(1)oftheCompanies Act, 1965statesSection that anAnnual (“AGM”) General Meeting mustbe heldonce in such instructions.” delayed inthecourseofany transfer orwhere theCompany onany hasacted represented andtheCompany shallhave noresponsibilityfor any sumslostor remittance ofthepersonentitledto thereby themoney shallbesentattherisk by theMember. orelectronictransfer suchchequeorwarrant or Every forged, orregardless of any inthedetailsofbankaccountgiven discrepancy thereon for ortheinstruction theelectronictransfer orremittance hasbeen subsequently appearthatthesamehasbeenstolen orthattheendorsement respect ofthedividendrepresented thereby, thatitmay notwithstanding transfer orremittance shalloperate asagooddischarge to theCompany in holder may direct. The payment ofany orelectronic suchchequeorwarrant ofthe to theshares inconsequenceofthedeathorbankruptcy orsecurities or to suchpersonastheholderorjointholderspersonsentitled remittance shallbemadepayable to theorder ofthepersonto whomitissent orelectronictransfer suchchequeorwarrant or direct.Every may inwriting any oneofsuchpersonsandto suchaddress orbankaccountassuchpersons oftheholder,entitled thereto inconsequenceofthedeathorbankruptcy to direct,orifseveralholder orfirstnamedjointmay personsare inwriting of Depositorsorto suchpersonandto suchaddress orbankaccountasthe andtheRules, Act undertheCentral Depositories permissible intheRecord provided byRegister thejointholderfirstnamedon or to theextent registered address orviaelectronictransfer orremittance to thebankaccount registered asjointholdersoftheshares are orsecurities entitledthereto, to the is namedintheRegister and/orRecord ofDepositors, orifseveral persons the bankaccountprovided orpersonentitledthereto by theMember who as itappearsintheRegister, orpaidviaelectronictransfer orremittance to directed to theregistered address orpersonentitledthereto oftheMember may sentthrough bepaidbyor othersecurities chequeorwarrant thepost Any dividend, interest orothermoniespayable incashrespectofshares 129 New Article (Special Resolution 1) (Special Resolution 4. 3. 2. 1. EXPLANATORY NOTES ONSPECIALBUSINESS: cheques. cheques andproblems suchasmisplaced, lostorexpired depositofdividend chequesandunauthorised shareholders faster accessto cashdividends, eliminates theinconvenience ofhaving to depositthedividend electronic transfer directlyinto thebankaccountsofshareholders (eDividend). eDividendprovides the 129willfacilitateThe thepayment proposed ofcashdividend entitlementsvia amendmentto Article Payment Dividend on Electronic (eDividend) 1-ProposedSpecial Resolution 129oftheCompany’s Amendment to Article ofAssociation Articles Circular to Shareholders dated 1June2010. forThe detailsontheproposed thepurchase authority ofown shares by theCompany are setoutinthe 10-Proposed Resolution Ordinary Authority for thePurchase Shares ofOwn by theCompany trading nature are setoutintheCircular to Shareholders dated 1June2010. The detailsontheproposed shareholders’ mandate ofarevenue for transactions or recurrent related party Transactions ofaRevenue or Trading Nature 8and9-Proposed Resolutions Ordinary Shareholders’ Mandate for Recurrent Related Party 2008. heldon12December Meeting General As atthedate ofthisnotice, shares nonew were issuedpursuantto themandate granted atthelastAnnual and/or any acquisition. including butnotlimited to placementofshares, for offundingfuture purpose investments, capital working The renewal ofthismandate willprovide to the flexibility Company for any potential fundraisingactivities, oftheCompany. Meeting Annual General time, for suchpurpose. This authority, atageneralmeeting, unlessrevoked orvaried willexpire atthenext Company, upto anamountnotexceeding intotal 10%oftheissuedshare capitaloftheCompany atany of shares, itisthusconsidered appropriate thattheDirectors beempowered to shares issuenew inthe order toIn avoid any delay andcostsinvolved inconvening ageneralmeetingto approve suchissue the numberinvolved may belessthan10%oftheissuedcapital. circumstances, would have to convene ageneralmeetingto approve shares theissueofnew even though the Company. any involve investment If shares, theissueofnew opportunities theDirectors, underpresent The Company isalways onthelookoutfor potential to of enhancetheearnings investment opportunities 1965 7-Authority Resolution to IssueShares 132DoftheCompaniesOrdinary pursuant to Act, Section Notice Of 27th Annual General Meeting General Annual 27th Of Notice 301 Sunway City Berhad Annual Report 2009 This page is intentionally left blank. SUNWAY CITY BERHAD (87564-X) FORM OF PROXY (Incorporated in Malaysia) 26th Annual General Meeting Registered Office: Level 16, Menara Sunway, Jalan Lagoon Timur Number of share(s) held Bandar Sunway, 46150 Petaling Jaya Selangor Darul Ehsan, Malaysia CDS Account No. Tel : 03-5639 8889 / 5639 8848 Fax : 03-5639 9507 PROXY “A”

I/We ………………….……………………………………….…………………………….…………*NRIC No./Passport No./Company No ………………….………………….………………. (Please use Block Letters) Tel./Mobile No ………………………………………of …………………………………………………………………………………………………………………………………………… ………………………………………….being a member of SUNWAY CITY BERHAD and entitled to vote hereby appoint ……………………………………………………………………… (Please use Block Letters) *NRIC No./Passport No ….…………………………….…………….Tel./Mobile No ………………………………….… of .……………………………………………………………………… ……………………………………………………………………………………………… or failing him/her, the Chairman of the Meeting as my/our 1st proxy to attend and vote for me/us on my/our behalf at the 26th Annual General Meeting of the Company to be held at Grand Bahamas, Level 12, Sunway Resort Hotel & Spa, Persiaran Lagoon, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan on Friday, 25 June 2010 at 4.00 p.m. and at any adjournment thereof.

WHERE THE MEMBER DESIRES TO APPOINT A 2ND PROXY, THIS SECTION MUST ALSO BE COMPLETED, OTHERWISE IT SHOULD BE DELETED.

PROXY “B”

I/We ………………….……………………………………….…………………………….…………*NRIC No./Passport No./Company No ………………….………………….………………. (Please use Block Letters) Tel./Mobile No ………………….……………………of ……………………………………………….………………………………………………………….……………………………… ………………………………………… being a member of SUNWAY CITY BERHAD and entitled to vote hereby appoint ……………………………………………………………………… (Please use Block Letters) *NRIC No./Passport No ….…………………………….……………. Tel./Mobile No ………………………………….… of .……………………………………………………………………… ……………………………………………………………………………………………… or failing him/her, the Chairman of the Meeting as my/our 2nd proxy to attend and vote for me/us on my/our behalf at the 26th Annual General Meeting of the Company to be held at Grand Bahamas, Level 12, Sunway Resort Hotel & Spa, Persiaran Lagoon, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan on Friday, 25 June 2010 at 4.00 p.m. and at any adjournment thereof.

The proportions of my/our holding to be represented by my/our proxies are as follows:-

1st Proxy “A” - % (to be completed) 2nd Proxy “B” - % (to be completed)

Total : 100 %

In case of a vote taken by a show of hands, *1st Proxy “A” / *2nd Proxy “B” shall vote on my/our behalf. * Delete if inapplicable My/our proxy/proxies shall vote as follows:- (Please indicate with an “X” in the space below how you wish your votes to be cast. If no specific direction as to voting is given, the proxy/proxies will vote or abstain from voting on the resolutions at his/their discretion) 1ST PROXY “A” 2ND PROXY “B” NO. ORDINARY RESOLUTIONS FOR AGAINST FOR AGAINST 1. To receive the Audited Financial Statements for the financial period ended 31 December 2009 together with the Directors’ and Auditors’ Reports thereon 2. To declare a final dividend of 5% per ordinary share less 25% income tax 3. To approve the increase in Directors’ fees and the payment thereof To re-elect the following Directors:- 4. Datin Paduka Low Siew Moi 5. Lim Swe Guan 6. Ho Hon Sang 7. To approve the re-appointment of Tan Sri Dato’ Ir Talha Bin Haji Mohd Hashim 8. To approve the re-appointment of Datuk Razman M Hashim 9. To re-appoint Messrs Ernst & Young as Auditors and to authorise the Directors to fix their remuneration

Dated this…………. day of ……………………………. 2010

Common Seal

Signature of Member…………………………………………………….

NOTES: 1. A member of the Company entitled to attend and vote, is entitled to appoint a proxy or proxies to attend and vote in his stead. A proxy may but need not be a member of the Company. 2. The instrument appointing a proxy shall be in writing under the hand of the appointer or of his attorney duly authorised in writing, or if the appointer is a corporation, either under the corporation’s seal, or under the hand of an officer or attorney duly authorised. 3. If a member appoints 2 proxies, the appointment will be invalid unless he states the percentage of his shareholding to be represented by each proxy. 4. Where a member is an Authorised Nominee as defined under the Securities Industry (Central Depositories) Act 1991, it may appoint at least 1 proxy but not more than 2 proxies in respect of each Securities Account it holds with ordinary shares of the Company standing to the credit of the said Securities Account. 5. The instrument appointing a proxy must be deposited at the Registered Office of the Company at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan, Malaysia not less than 48 hours before the time appointed for holding the meeting or any adjournment thereof, either by hand, post, electronic mail or fax to 03-5639 9507. In the case where the member is a corporation and the proxy form is delivered by fax or electronic mail, the original form shall also be deposited at the Registered Office, either by hand or post not less than 48 hours before the time appointed for holding the meeting or any adjournment thereof. PLEASE FOLD HERE

STAMP

THE COMPANY SECRETARY SUNWAY CITY BERHAD (87564-X) LEVEL 16, MENARA SUNWAY JALAN LAGOON TIMUR BANDAR SUNWAY 46150 PETALING JAYA SELANGOR DARUL EHSAN MALAYSIA

PLEASE FOLD HERE SUNWAY CITY BERHAD (87564-X) FORM OF PROXY (Incorporated in Malaysia) 27th Annual General Meeting Registered Office: Level 16, Menara Sunway, Jalan Lagoon Timur Number of share(s) held Bandar Sunway, 46150 Petaling Jaya Selangor Darul Ehsan, Malaysia CDS Account No. Tel : 03-5639 8889 / 5639 8848 Fax : 03-5639 9507 PROXY “A”

I/We ………………….……………………………………….…………………………….…………*NRIC No./Passport No./Company No ………………….………………….………………. (Please use Block Letters) Tel./Mobile No ………………………………………of …………………………………………………………………………………………………………………………………………… ………………………………………… being a member of SUNWAY CITY BERHAD and entitled to vote hereby appoint ……………………………………………………………………… (Please use Block Letters) *NRIC No./Passport No ….…………………………….…………….Tel./Mobile No ……………………………….… of ………………………………………………………………………… ……………………………………………………………………………………………… or failing him/her, the Chairman of the Meeting as my/our 1st proxy to attend and vote for me/us on my/our behalf at the 27th Annual General Meeting of the Company to be held at Grand Bahamas, Level 12, Sunway Resort Hotel & Spa, Persiaran Lagoon, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan on Friday, 25 June 2010 immediately following the conclusion or adjournment (as the case may be) of the 26th Annual General Meeting which will be held at 4.00 p.m. on the same day and at the same venue.

WHERE THE MEMBER DESIRES TO APPOINT A 2ND PROXY, THIS SECTION MUST ALSO BE COMPLETED, OTHERWISE IT SHOULD BE DELETED.

PROXY “B”

I/We ………………….……………………………………….…………………………….…………*NRIC No./Passport No./Company No ………………….………………….………………. (Please use Block Letters) Tel./Mobile No ………………….……………………of ……………………………………………….………………………………………………………….……………………………… ………………………………………… being a member of SUNWAY CITY BERHAD and entitled to vote hereby appoint ……………………………………………………………………… (Please use Block Letters) *NRIC No./Passport No ….……………………………….…………….Tel./Mobile No ……………………………….… of ……………………………………………………………………… …………………………………………………………………………………………… or failing him/her, the Chairman of the Meeting as my/our 2nd proxy to attend and vote for me/us on my/our behalf at the 27th Annual General Meeting of the Company to be held at Grand Bahamas, Level 12, Sunway Resort Hotel & Spa, Persiaran Lagoon, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan on Friday, 25 June 2010 immediately following the conclusion or adjournment (as the case may be) of the 26th Annual General Meeting which will be held at 4.00 p.m. on the same day and at the same venue.

The proportions of my/our holding to be represented by my/our proxies are as follows:-

1st Proxy “A” - % (to be completed) 2nd Proxy “B” - % (to be completed)

Total : 100 %

In case of a vote taken by a show of hands, *1st Proxy “A” / *2nd Proxy “B” shall vote on my/our behalf. * Delete if inapplicable My/our proxy/proxies shall vote as follows:- (Please indicate with an “X” in the space below how you wish your votes to be cast. If no specific direction as to voting is given, the proxy/proxies will vote or abstain from voting on the resolutions at his/their discretion) 1ST PROXY “A” 2ND PROXY “B” NO. ORDINARY RESOLUTIONS FOR AGAINST FOR AGAINST 1. To re-elect the following Directors:- Tan Sri Dato’ Seri Dr Jeffrey Cheah Fook Ling,AO 2. Ngeow Voon Yean 3. Ngian Siew Siong 4. To approve the re-appointment of Tan Sri Dato’ Ir Talha Bin Haji Mohd Hashim 5. To approve the re-appointment of Datuk Razman M Hashim 6. To re-appoint Messrs Ernst & Young as Auditors and to authorise the Directors to fix their remuneration 7. To authorise the issue of shares pursuant to Section 132D of the Companies Act, 1965 8. To approve the Proposed Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature 9. To approve the Proposed Shareholders’ Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature involving the interest of the Government of Singapore Investment Corporation Pte Ltd Group 10. To authorise the purchase of own shares by the Company NO. SPECIAL RESOLUTION 1. To approve the Proposed Amendment to Article 129 of the Company’s Articles of Association

Dated this…………. day of ……………………………. 2010

Common Seal Signature of Member…………………………………...... ……………….

NOTES: 1. A member of the Company entitled to attend and vote, is entitled to appoint a proxy or proxies to attend and vote in his stead. A proxy may but need not be a member of the Company. 2. The instrument appointing a proxy shall be in writing under the hand of the appointer or of his attorney duly authorised in writing, or if the appointer is a corporation, either under the corporation’s seal, or under the hand of an officer or attorney duly authorised. 3. If a member appoints 2 proxies, the appointment will be invalid unless he states the percentage of his shareholding to be represented by each proxy. 4. Where a member is an Authorised Nominee as defined under the Securities Industry (Central Depositories) Act 1991, it may appoint at least 1 proxy but not more than 2 proxies in respect of each Securities Account it holds with ordinary shares of the Company standing to the credit of the said Securities Account. 5. The instrument appointing a proxy must be deposited at the Registered Office of the Company at Level 16, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan, Malaysia not less than 48 hours before the time appointed for holding the meeting or any adjournment thereof, either by hand, post, electronic mail or fax to 03-5639 9507. In the case where the member is a corporation and the proxy form is delivered by fax or electronic mail, the original form shall also be deposited at the Registered Office, either by hand or post not less than 48 hours before the time appointed for holding the meeting or any adjournment thereof. PLEASE FOLD HERE

STAMP

THE COMPANY SECRETARY SUNWAY CITY BERHAD (87564-X) LEVEL 16, MENARA SUNWAY JALAN LAGOON TIMUR BANDAR SUNWAY 46150 PETALING JAYA SELANGOR DARUL EHSAN MALAYSIA

PLEASE FOLD HERE CORPORATE DIRECTORY PROPERTY DEVELOPMENT SUNWAY PLATINUM SUCCESS SDN BHD SUNWAY TRAVEL SDN BHD SUNWAY RESIDENCE SDN BHD @ THE LOBBY, SUNWAY HOTEL SEBERANG JAYA SUNWAY CITY BERHAD MENARA SUNWAY SDN BHD NO. 11, LEBUH TENGGIRI DUA SUNWAY DAMANSARA SDN BHD STELLAR DESTINY SDN BHD PUSAT BANDAR SEBERANG JAYA SUNWAY D’MONT KIARA SDN BHD SUNWAY TOWER 1 SDN BHD 13700 PRAI, PENANG SUNWAY RAHMAN PUTRA SDN BHD SUNWAY TOWER 2 SDN BHD TEL: (604) 399 5622 FAX: (604) 399 0622 SUNWAY MONTEREZ SDN BHD UNIT 4.5, LEVEL 4 EAST LOBBY SUNWAY KINRARA SDN BHD MENARA SUNWAY ANNEXE SUNWAY TRAVEL SDN BHD SUNWAY TOWNHOUSE SDN BHD JALAN LAGOON TIMUR, BANDAR SUNWAY @ THE LOBBY, SUNWAY HOTEL GEORGETOWN SUNWAY CITY PROPERTIES SDN BHD 46150 PETALING JAYA, SELANGOR NO. 33, NEW LANE (OFF MACALISTER ROAD) SUNWAY SOUTH QUAY SDN BHD TEL: (603) 5639 8888 FAX: (603) 5639 9595 GEROGETOWN SUNWAY MELAWATI SDN BHD 10400 PENANG SUNWAY SPK HOMES SDN BHD SUNWAY MONASH-U RESIDENCE SDN BHD TEL: (604) 227 2622 FAX: (604) 226 4781 LEVEL 1-3, MENARA SUNWAY LEVEL 1-3, MENARA SUNWAY JALAN LAGOON TIMUR, BANDAR SUNWAY JALAN LAGOON TIMUR, BANDAR SUNWAY SUNWAY TRAVEL SDN BHD 46150 PETALING JAYA, SELANGOR 46150 PETALING JAYA, SELANGOR SUNWAY UNIVERSITY COLLEGE TEL: (603) 5639 8888 FAX: (603) 5639 9992 TEL: (603) 5639 8888 FAX: (603) 5639 9992 NO. 5, JALAN UNIVERSITY BANDAR SUNWAY SUNWAY TUNAS SDN BHD 46150 PETALING JAYA, SELANGOR SUNWAY BUKIT GAMBIER SDN BHD HOSPITALITY TEL: (603) 5634 1622 FAX: (603) 5636 8261 SUNWAY CITY (PENANG) SDN BHD SUNWAY GRAND SDN BHD SUNWAY RESORT HOTEL SDN BHD SUNWAY LEISURE SERVICES SDN BHD SUNWAY CREST SDN BHD PERSIARAN LAGOON, BANDAR SUNWAY @ MEZZANINE FLOOR, SUNWAY TOWER NO. 1, PERSIARAN MAHSURI 1/3 46150 PETALING JAYA, SELANGOR NO. 86, JALAN AMPANG SUNWAY TUNAS TEL: (603) 7492 8000 FAX: (603) 7492 8001 50450 KUALA LUMPUR 11900 BAYAN LEPAS, PENANG TEL: (603) 2032 5622 FAX: (603) 2032 4781 TEL: (604) 643 9898 FAX: (604) 644 1313 SUNWAY HOTEL (PENANG) SDN BHD 33, NEWLANE, GEORGETOWN SUNWAY LAGOON CLUB BERHAD SUNWAY CITY (IPOH) SDN BHD 10400 PENANG 3, JALAN LAGOON TIMUR NO. 52, JALAN SCI 1/3 TEL: (604) 229 9988 FAX: (604) 228 8899 BANDAR SUNWAY DATARAN SUNWAY, 46150 PETALING JAYA, SELANGOR 31150 IPOH, PERAK SUNWAY HOTEL (SEBERANG JAYA) TEL: (603) 5639 8600 FAX: (603) 5639 9588 TEL: (605) 548 6668 FAX: (605) 548 6868 SDN BHD NO. 11, LEBUH TENGGIRI DUA SUNWAY INTERNATIONAL VACATION SUNWAY SEMENYIH SDN BHD PUSAT BANDAR SEBERANG JAYA CLUB BERHAD NO. 103, JALAN 1/3 13700 PRAI, PENANG SUNWAY HEALTHY LIFESTYLE SDN BHD BANDAR TECHNOLOGI KAJANG TEL: (604) 370 7788 FAX: (604) 370 0555 LEVEL 1, MENARA SUNWAY 43500 SEMENYIH, SELANGOR JALAN LAGOON TIMUR, BANDAR SUNWAY TEL: (603) 8723 3131 FAX: (603) 8723 3030 SUNWAY HOTEL PHNOM PENH LTD 46150 PETALING JAYA, SELANGOR 1, STREET 92, SANGKAT WAT PHNOM TEL: (603) 5639 9221 / 5639 9993 SUNWAY CITY INDIA PRIVATE LIMITED P.O. BOX 633, PHNOM PENH 12202 FAX: (603) 5639 9555 SUNWAY OPUS INTERNATIONAL PRIVATE KINGDOM OF CAMBODIA LIMITED TEL : (00) 855 23 430333 PYRAMID BOWL SDN BHD SURVEY NOS. 162P & 164 FAX: (00) 855 23 430339 LOT F2.22, LEVEL 1 AMEENPUR VILLAGE & POST SUNWAY PYRAMID SHOPPING MALL OFF MIYAPUR - BACHUPALLY ROAD SUNWAY HOSPITALITY HOLDINGS NO. 3, JALAN PJS 11/15, BANDAR SUNWAY PATANCHERU MANDAL, MEDAK DISTRICT LTD GROUP 46150 PETALING JAYA, SELANGOR PIN - 502 -302, AP. INDIA LEVEL 1, UNIT 1.2, MENARA SUNWAY TEL: (603) 7492 6307/8/9 FAX: (603) 7492 6310 TEL: (00) 91 40 2303 8016 JALAN LAGOON TIMUR, BANDAR SUNWAY FAX: (00) 91 40 2303 8008 46150 PETALING JAYA, SELANGOR TEL: (603) 5639 8181 FAX: (603) 5639 8182 HEALTHCARE

SUNWAY MEDICAL CENTRE BERHAD PROPERTY INVESTMENT NO. 5, JALAN LAGOON SELATAN LEISURE BANDAR SUNWAY SUNWAY PYRAMID SDN BHD 46150 PETALING JAYA, SELANGOR CENTRE MANAGEMENT OFFICE SUNWAY LAGOON SDN BHD TEL: (603) 7491 9191 FAX: (603) 7491 8181 LEVEL CP6, BLUE ATRIUM 3, JALAN PJS 11/11, BANDAR SUNWAY SUNWAY PYRAMID SHOPPING MALL 46150 PETALING JAYA, SELANGOR SUNMED@HOME SDN BHD NO. 3, JALAN PJS 11/15, BANDAR SUNWAY TEL: (603) 5639 0000 UNIT 12A, JALAN PJS 9/1G 46150 PETALING JAYA, SELANGOR FAX: (603) 5639 0050 / 5632 9477 BANDAR SUNWAY TEL: (603) 7494 3000 FAX: (603) 7492 6333 46150 PETALING JAYA, SELANGOR SUNWAY LAGOON WATER PARK SDN BHD TEL: (603) 5621 1382 FAX: (603) 5621 1380 PELUANG KLASIK (M) SDN BHD NO. 1, PERSIARAN LAGUN SUNWAY 1 KINTA SUNWAY RESORT SDN BHD SUNWAY CITY IPOH SUNMED CLINICS SDN BHD NO. 52, JALAN SCI 1/3 31150 IPOH, PERAK CP2.01, ORANGE ATRIUM DATARAN SUNWAY, SUNWAY CITY IPOH TEL: (605) 542 8888 FAX: (605) 542 8899 SUNWAY PYRAMID SHOPPING MALL 31150 IPOH, PERAK NO. 3, JALAN PJS 11/15 TEL: (605) 548 6668 FAX: (605) 548 6868 SUNWAY TRAVEL SDN BHD BANDAR SUNWAY @ THE LINK, SUNWAY RESORT HOTEL & SPA 46150 PETALING JAYA SUNWAY CARNIVAL SDN BHD PERSIARAN LAGOON, BANDAR SUNWAY SELANGOR DARUL EHSAN LG-68, MANAGEMENT OFFICE 46150 PETALING JAYA, SELANGOR TEL: (603) 7491 0121 / 7491 0151 SUNWAY CARNIVAL MALL TEL: (603) 5632 5622 FAX: (603) 5632 4781 FAX: (603) 7491 0161 3068 JALAN TODAK PUSAT BANDAR SEBERANG JAYA 13700 SEBERANG JAYA, PENANG TEL: (604) 397 9888 FAX: (604) 397 9883 Sunway City Berhad (87564-X) Level 16, Menara Sunway, Jalan Lagoon Timur Bandar Sunway, 46150 Petaling Jaya, Selangor Darul Ehsan, Malaysia

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