We refer to our announcements dated 1 April 2016, 6 November 2017, 22 January 2019, 22 February 2019, 30 August 2019, 25 November 2019, 15 September 2020, 31 March 2021, 3 March 2022 and 24 June 2022 in relation to the above matter.

The Board of Directors of Sunway REIT Management Sdn Bhd, the Manager for Sunway REIT (the "Manager"), wishes to update the following:

Metroplex in its statement of claim dated 28 September 2015 alleged that the value of various chattels and moveable items that were acquired and owned by Metroplex but not removed when the Manager took possession of Sunway Putra Hotel on 27 September 2011 was in excess of RM80 million.

At the assessment of damages stage, Metroplex claimed damages for conversion totalling approximately RM90 million.

On 12 November 2024, the High Court delivered its judgment on the assessment of damages for conversion payable by the Manager and Trustee, on behalf of Sunway REIT, to Metroplex, as follows:

1. Operational Chattels amounting to RM1,812,339.72;
2. Antiques amounting to RM434,760.00;
3. Artworks amounting to RM2,585,500.00;
4. Interest at the rate of 5% per annum for items (1) to (3) above from the date of conversion on 27 September 2011 until the date of full and final realisation; and
5. Costs of RM60,000.00.

This announcement is dated 12 November 2024.