SUNWAY CONSTRUCTION GROUP BERHAD NEW ORDER BOOK HITS RM722 MILLION

May 18, 2018 | By | Reply More

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Sunway Construction Group Berhad announces a revenue of RM529.2 million and profit before tax of RM43.7 million for the current quarter ended 31 March 2018, compared to revenue of RM419.5 million and profit before tax of RM43.3 million in the corresponding quarter of the preceding financial year.  A revenue increase by 26.2% is mainly due to the construction segment. This was offset by a minor decline in its precast segment. The Group’s margin was slightly affected due to decline in profitability in the precast segment.

The construction segment reported revenue of RM492.1 million and profit before tax of RM40.1 million compared to revenue of RM350.7 million and profit before tax of RM27.5 million in the corresponding quarter of the preceding financial year. The higher revenue in the current quarter by 40.3% was due to higher contribution from Building division in Central region due to higher progress of work mainly from Parcel F, Putrajaya and International School of Kuala Lumpur. Construction profit margin for both quarters under review remained relatively the same.

SunCon’s on-going project remains on track and the firm is expected to handover the International School of Kuala Lumpur and Emerald Residence in Sunway Iskandar by 3Q 2018. Its MRT Line 2: Package V201 from Sungai Buloh to Persiaran Dagang has been progressing well with a completion rate of 44% to date.

The Group’s outstanding order book as at March 2018 amounted to RM6.1 billion with a total of RM542 million in new orders in first quarter 2018. The new orders mainly comprise the extension of Sunway Carnival Mall in Penang and the 44-storey Sunway GEOLake residential tower in Sunway City. Its latest award, on 14 May 2018, brings its new orders to date to a total of RM 722 million.

Sunway Construction Group Managing Director, Chung Soo Kiong says, “We maintain our new order book target of RM1.5 billion to RM2.0 billion which will primarily come from building projects for the financial year 2018 having secured our latest award on 14 May 2018 from Alliance Parade Sdn Bhd for the construction of Sunway Medical Centre Seberang Jaya Phase 1 worth RM180 million.”

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