KUALA LUMPUR (Oct 21): Sunway Real Estate Investment Trust (KL:SUNREIT) and Sunway Healthcare Holdings Bhd (KL:SUNMED) have agreed to extend the deadline for fulfilling conditions tied to the RM60 million acquisition of Sunway Hotel Seberang Jaya in Penang.
In separate exchange filings on Wednesday, the two companies said the deadline has been moved to July 28, 2027 from the original cut-off date of Oct 28, 2026.
They said they have signed a supplemental agreement to revise certain terms of the original sale and purchase agreement dated Oct 28, 2025. The extension, they said, would give Sunway REIT more time to meet the conditions required for the transaction to proceed.
The filings did not disclose which conditions were yet to be met.
The deal involves Sunway Healthcare’s wholly owned subsidiary Sunway Medical Centre Penang Sdn Bhd acquiring the hotel property from RHB Trustees Bhd, which is acting as trustee for Sunway REIT.
The RM60 million acquisition covers a leasehold land parcel measuring 4,294 square metres in Seberang Jaya, together with the hotel building and its fixtures, fittings and equipment.
Under the revised deal, the acquisition must be completed within three months after all conditions have been fulfilled or waived.
All other terms of the original agreement remain unchanged.
Shares of Sunway Healthcare closed flat at RM2.09 on Wednesday, giving the group a market capitalisation of RM24 billion. Sunway REIT also finished unchanged at RM2.03, valuing the investment trust at RM6.95 billion.