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SUNWAY, SATERAS IN JOINT VENTURE TO DEVELOP LAND.

BERNAMA The Malaysian National News Agency

| January 12, 2000 | COPYRIGHT 1999 Bernama - Malaysian National Agency. (Hide copyright information)Copyright

KUALA LUMPUR, Jan 11 (Bernama) -- Sunway Holdings Incorporated Bhd expects its wholly-owned subsidiary, Sunway Masalam Sdn Bhd, to enjoy an estimated pre-tax profit of about RM40 million following a joint-venture arrangement to develop 67 hectares (167.94 acres) land with M.K. Associates Sdn Bhd (MKA) and MK Golf Resort Bhd (MKGR).

The estimated pre-tax profit was derived after the deduction of MKA's and MKGR's entitlements upon the completion of the proposed development, said Sunway Holdings.

MKA, a wholly-owned subsidiary of Sateras Resources (Malaysia) Bhd, and MKGR, a wholly-owned subsidiary of MKA, are the owners of the land, Sunway Holdings said in a …

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