Latest news with #SunwayConstructionGroupBhd
The Star
5 days ago
- Business
- The Star
SunCon wins RM1.2bil deal
SunCon said the works are expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2025 onwards. PETALING JAYA: Sunway Construction Group Bhd (SunCon) has accepted work orders from a multinational technology company headquartered in the United States in respect of the provision of general contractor works for two data centre projects, worth RM1.16bil. In a filing with Bursa Malaysia, the company said the works are scheduled to commence immediately, with final completion expected by February 2027. 'The works will not have any effect on the share capital and substantial shareholders' shareholding of SunCon as it does not involve any allotment or issuance of new shares by SunCon. 'The works are not expected to have any immediate material effect on the earnings per share, net assets per share and gearing of SunCon for the financial year ending Dec 31, 2025.' However, barring any unforeseen circumstances, SunCon said the works are expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2025 onwards. 'As of today, SunCon group's total outstanding order book stands at RM7.9bil. This includes new projects secured to date this year, totaling RM3.5bil, which encompasses the above mentioned works.'
New Straits Times
6 days ago
- Business
- New Straits Times
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.
The Star
6 days ago
- Business
- The Star
SunCon wins RM1.16bil job
PETALING JAYA: Sunway Construction Group Bhd (SunCon) has accepted work orders from a multinational technology company headquartered in the US in respect of the provision of general contractor works for two projects, worth RM1.16bil. In a filing with Bursa Malaysia, the company said the works are scheduled to commence immediately, with final completion expected by February 2027. 'The works will not have any effect on the share capital and substantial shareholders' shareholding of SunCon as it does not involve any allotment or issuance of new shares by SunCon. 'The works are not expected to have any immediate material effect on the earnings per share, net assets per share and gearing of SunCon for the financial year ending Dec 31, 2025.' However, barring any unforeseen circumstances, SunCon said the works are expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2025 onwards. 'As of today, SunCon group's total outstanding order book stands at RM7.9bil. This includes new projects secured to date this year, totaling RM3.5bil, which encompasses the above mentioned works.
New Straits Times
23-05-2025
- Business
- New Straits Times
Bursa Malaysia settles firmer at midday on interest in certain heavyweights
KUALA LUMPUR: Bursa Malaysia closed higher at midday amid mild buying interest seen especially in selected heavyweights. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.35 points or 0.5 per cent to 1,534.37 from Thursday's close of 1,527.02. The benchmark index opened 4.91 points higher at 1,531.93 and fluctuated between 1,531.76 and 1,536.75 throughout the morning session. On the broader market, gainers led losers 395 to 372, while 455 counters were unchanged, 1,156 untraded and 41 suspended. Turnover stood at 1.56 billion shares valued at RM1.1 billion. Malacca Securities Sdn Bhd said the market may trade slightly positive today, tracking Wall Street's futures movement. With little progress in easing renewed US-China tensions, the firm expects US chip restrictions to cap any significant upside for technology stocks. "However, we see trading opportunities within the construction sector such as Sunway Construction Group Bhd, following a recent flag formation breakout, better-than-expected quarterly earnings, coupled with dara centre contract wins. "We also believe Inta Bina Group Bhd could continue to benefit from active land banking by developers like Gamuda. "Meanwhile, we are positive on selected stocks within renewable energy, consumer and telecommunication," it added.
The Star
20-05-2025
- Business
- The Star
Sunway Construction's 1Q net profit soars to RM75.71mil
KUALA LUMPUR: Sunway Construction Group Bhd 's (SunCon) net profit for the first quarter ended March 31, 2025 (1Q 2025) surged to RM75.71 million, up from RM32.40 million in the same period last year. Revenue climbed 132 per cent to RM1.40 billion compared with RM604.80 million previously, underpinned by robust performance from the construction segment. In filing with Bursa Malaysia, SunCon said its construction segment delivered a remarkable improvement in performance, with revenue rising 152 per cent, from RM543.6 million in 1Q 2024 to RM1,369.9 million in 1Q 2025. "The division reported a profit before tax of RM112 million in the current quarter, nearly tripling the profit recorded in the corresponding quarter of the preceding year. "The stellar performance was fueled by accelerated progress of several data centre projects during the quarter,' it said. The group declared a single-tier first interim dividend of 5.00 sen per ordinary share for the financial year ending Dec 31, 2025. Its group managing director, Liew Kok Wing, said the positive trajectory is expected to continue, supported by accelerated progress on data centre projects, demonstrating its commitment to delivering sustainable total shareholder returns. "We continue to see a healthy pipeline of data-centre tenders. Recent indications from the United States (US) administration to recalibrate artificial intelligence (AI) chip export restrictions augur well for Malaysia, reinforcing its position as a regional hub for digital infrastructure investment. "SunCon has also announced a RM393 million data centre contract today, a positive development signifying that data-centre investment in Malaysia remains intact,' he said. Liew added that as of May 2025, SunCon had secured RM2.2 billion in new orders, achieving 49 per cent of the lower end of its 2025 order book replenishment target of RM4.5 billion to RM6.0 billion. "The group is optimistic of registering positive growth in the 2025 financial year, supported by its robust existing outstanding order book of RM6.6 billion as of March 31, 2025,' he added. - Bernama
