Analysts surprised by Sunway’s cash call to raise RM1bil

PETALING JAYA: Sunway Bhd’s cash call to raise RM1bil, which would dilute its earnings by more than 20%, came as a surprise to analysts.

The proposed rights issue, however, failed to douse investor sentiment. Sunway closed yesterday up two sen to RM3.12, off its day-high of RM3.15 with 3.25 million shares traded. This was just four sen lower than its all-time high of RM3.16 last week.