logo
Sunway Construction lands RM1.15bil data centre jobs for big US firm

Sunway Construction lands RM1.15bil data centre jobs for big US firm

KUALA LUMPUR: Sunway Construction Group Bhd's subsidiary Sunway Construction Sdn Bhd has been hired by a big US-based technology company to build two data centres totaling RM1.15 billion.
Sunway Construction, in a statement, said the projects are expected to contribute to its earnings for the current and subsequent financial years, with completion targeted for the first quarter of 2027.
Sunway Construction has so far secured RM3.5 billion of new orders, accounting for more than half of its 2025 order book replenishment target range of RM4.5 billion-RM6 billion.
As a result, its total outstanding order book has risen to RM7.9 billion.
Sunway Construction group managing director Liew Kok Wing said the new projects expand its order book for the year and fortify earnings visibility over the next two years.
"Our strong performance in the first quarter of 2025 reflects the sustained momentum across our operations.
"We are confident that this positive momentum will continue in the current financial year, underpinned by accelerated progress on data centre projects and a robust outstanding order book, including newly-secured projects," he added.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trade tensions, political uncertainty dim air travel outlook; record traveller forecast trimmed
Trade tensions, political uncertainty dim air travel outlook; record traveller forecast trimmed

The Star

time39 minutes ago

  • The Star

Trade tensions, political uncertainty dim air travel outlook; record traveller forecast trimmed

NEW DELHI/SINGAPORE (The Straits Times/ANN): Trade tensions and a decline in consumer confidence amid political and economic uncertainty have dented otherwise strong projected demand for air travel. While airlines are expected to carry a record 4.99 billion travellers in 2025 – 4 per cent more than in 2024 – the latest forecast is lower than the 5.22 billion projected by the International Air Transport Association (Iata) in December 2024. Still, airlines are expected to turn in higher profits despite the headwinds. Iata, a global trade body representing 350 carriers, said on June 2 that airline net profits are projected to be US$36 billion (S$46.4 billion) in 2025, up from US$32.4 billion in 2024 but slightly below the earlier forecast of US$36.6 billion for 2025. Net profit margins are also expected to rise to 3.7 per cent in 2025, up from 3.4 per cent in 2024. Iata director-general Willie Walsh said 2025 will be a better year for airlines, even with the significant uncertainties in global markets in the first half of the year. Iata will hold its next annual meeting in 2026 in Rio de Janeiro, Brazil. The Asia-Pacific is the largest and fastest-growing air travel market in terms of traffic, Iata said, and passenger demand in the region is expected to be strong given the relaxation in visa requirements in several Asian countries such as China, Vietnam, Malaysia and Thailand. However, the association noted economic challenges as gross domestic product forecasts for the region, especially for China, have been revised downwards. Walsh said the biggest positive driver of profitability has been the 13 per cent fall in jet fuel prices. Strong employment and moderating inflation projections are also expected to keep air travel demand growing, even if not as fast as previously projected. An Iata poll in April found that a large majority of travellers expect to travel as much or more in the next 12 months. While 73 per cent of respondents expect to be personally affected by trade tensions, 65 per cent said this will not change their travel habits. Of the business travellers polled, 68 per cent expect to travel more to visit customers amid the trade tensions. Iata said passenger yields – a measure of how much airlines earn per passenger and a proxy for air fares – will fall 4 per cent in 2025, reflecting lower oil prices and strong competition within the industry. The average return airfare in 2025 is projected to be US$390, down from the 2024 estimated average of US$399. This is at current prices, before adjusting for inflation. Supply chain issues that have plagued the airline industry since the pandemic are expected to persist in 2025, and could continue until the end of the decade, Iata said. It pointed to the backlog of aircraft deliveries, which have exceeded 17,000, implying a wait time of 14 years. Before the pandemic, the backlog was 10,000 to 11,000 planes. The number of aircraft deliveries scheduled for 2025 is also 26 per cent less than what was promised a year ago, Iata added, noting as well the more than 1,100 aircraft that are under 10 years old but are in storage due to engine problems and shortages of spare parts. All this has had a negative impact on airlines, driving up aircraft leasing and maintenance costs, and slowing the rate of growth. Iata also warned that moves to remove aircraft from tariff exemptions could aggravate supply chain constraints and production limits. The US Department of Commerce in May opened an investigation into whether imported aircraft, jet engines and parts pose a national security threat, which some have said could be used as a basis for new tariffs. Asked at a press conference on June 2 whether import duties have impacted the cost of aircraft for airlines, Walsh said Iata has not seen evidence of the levies leading to price increases at this point. 'Obviously, any development to increase the price of aircraft is going to be very much an unwelcome development, and will be resisted by airlines, because we will have to understand the justification behind any increase,' he said. 'We don't want to see... any of the suppliers using tariffs as an excuse or an opportunity to increase their prices to the industry,' he added. Trade tensions are also expected to crimp air cargo volumes, with Iata projecting a 0.7 per cent growth rate in 2025, compared with 11.3 per cent growth in 2024. Despite the near-term challenges, plane maker Airbus is standing by its demand projections for the Asia-Pacific, its regional head told The Straits Times. The European company had said in 2024 that it expects Asia-Pacific airlines to require 19,500 new planes by 2043. Speaking to ST on the sidelines of Iata's annual general meeting, Airbus Asia-Pacific president Anand Stanley said core economic growth in the region remains robust. There is high potential thanks to the Asia-Pacific region's youthful demographics and the large proportion of the population who are not flying but could be in the future. While he acknowledged that supply chain issues persist, Mr Stanley said Airbus has been mostly successful at mitigating them. Airbus said in February that it aims to deliver around 820 commercial aircraft in 2025 – 7 per cent more than it delivered in 2024. Stanley said the company is on track to meet this delivery plan so far, and it is working with its suppliers and airline customers to accomplish it. On the impact of tariffs, he said this is a 'moving scenario' and any conclusions made regarding it would be speculative. - The Straits Times/ANN

Malaysia, Japan ink agriculture MOUs worth over RM25 million
Malaysia, Japan ink agriculture MOUs worth over RM25 million

The Sun

timean hour ago

  • The Sun

Malaysia, Japan ink agriculture MOUs worth over RM25 million

KUALA LUMPUR: Malaysia has continued to strengthen cooperation with Japan in the agricultural sector through the signing of Memoranda of Understanding (MoUs) between several companies from both countries at Expo 2025 Osaka today. Agriculture and Food Security Minister Datuk Seri Mohamad Sabu, in a Facebook post, said the MoUs, which were expected to generate investments of over US$6 million (RM25.5 million), would not only boost the economy but also strengthen the resilience of the nation's food system. 'Agriculture is not just the work of villagers. It is the future of the nation. 'Let us continue to work hand-in-hand, be it the government, private sector, farmers, and the people, towards a resilient, innovative, and blessed Malaysia MADANI,' he said. Mohamad said he also had the opportunity to launch the Sustainable Agriculture Week at the Malaysia Pavilion in conjunction with the expo. He said Malaysia participated in the expo with the strong belief that sustainable agriculture was not just an option, but a necessity. 'Imagine if one day farmers lose their jobs, agricultural land is left idle, and food becomes increasingly difficult to obtain – that is a warning of the future approaching if we do not act now,' he said. Mohamad said Malaysia was now moving forward with the National Agrofood Policy 2.0 and Shared Prosperity Vision 2030 to modernise agriculture using technology such as drones, the Internet of Things (IoT), and smart systems. 'Even Tongkat Ali, we are increasing its added value to become a premium health product,' he said. Malaysia's participation in Expo 2025 Osaka is spearheaded by the Ministry of Investment, Trade and Industry and supported through a whole-of-government approach involving 21 ministries and 70 agencies. It focuses on seven strategic sectors, namely sustainable agriculture, renewable energy (RE), smart living, green manufacturing, industrial reform, environmental management, and the halal industry.

Indonesia trade surplus shrinks as global tariff fears boost imports from China
Indonesia trade surplus shrinks as global tariff fears boost imports from China

The Star

timean hour ago

  • The Star

Indonesia trade surplus shrinks as global tariff fears boost imports from China

JAKARTA (Bloomberg): Indonesia posted its smallest trade surplus in more than five years on signs importers are stocking up on goods from China and other key trading partners to mitigate the risks of rising global tariffs. The surplus narrowed to US$159 million in April, its smallest since October 2019 and far below a median estimate of US$2.8 billion in a Bloomberg survey of analysts. Imports into Southeast Asia's largest economy jumped by 22% year-on-year to $20.59 billion in the month, helped by increases in capital goods, raw materials and consumer goods, according to Indonesia's statistics agency on Monday. Exports rose just 5.8% to $20.76 billion, with higher shipments of coffee and basic metals helping to offset a 21% drop in mining exports that was partly caused by weaker coal shipments. The sharp rebound in imports suggests pre-emptive restocking at a time of rising trade risks due to higher US tariffs, according to Hosianna Evalita Situmorang, an economist at PT Bank Danamon Indonesia. Imports from China, Indonesia's largest trading partner, rose by 54% year-on-year. Goods from Japan and Singapore were also significantly higher. The statistics agency in a briefing didn't provide a detailed breakdown by category of monthly imports from individual countries. Indonesia's imports from China through April this year comprised mainly mechanical and electrical machinery and equipment, along with vehicles and parts. The pattern of higher imports due to pre-emptive restocking could continue in the coming months given ongoing trade headwinds, including from US President Donald Trump's higher steel import tariffs that are due to take effect in June, as well as an end to the tariff reprieve in July, Situmorang said. Mining exports will also likely remain under pressure from tariff risks and weak demand in China, she said. The smaller surplus could also weigh on Indonesia's current account, although pressures should be "manageable thanks to low oil prices and steady services,' Situmorang added. Indonesia in recent years has posted monthly trade surpluses typically well over $1 billion. The country last posted a trade deficit in April 2020. -- ©2025 Bloomberg L.P.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store