SunCon plans to expand into Myanmar, Indonesia

Sunway Construction's Managing Director Chung Soo Kiong (Centre) speaks during a press conference.. On the right is Accountant Elaine Lai Ee Ling and Chief Financial Officer Ng Bee Lien (left). - AZHAR MAHFOF/The Star

KUALA LUMPUR: Sunway Construction Group Bhd (SunCon) plans to expand into Myanmar and Indonesia as it aims to enlarge its footprint in the Asean region.

According to managing director Chung Soo Kiong, the construction outfit plans to emphasise on developing infrastructure projects and other specialised buildings such as hospitals in its potential overseas markets.

“Currently, the jobs that we have in hand are solely focused on Peninsular Malaysia. So, as part of our geographical diversification, we aim to expand our operations in markets abroad.

“We are in discussions with potential joint-venture partners in Myanmar and Indonesia as we need long-term strategic partners in these new markets,” he told reporters on the sidelines of Invest Malaysia 2018 here yesterday.

Chung added that SunCon’s current order book is valued at RM6.8bil, which offers an earnings visibility for the next three years.

He expects the group to clinch a number of new orders worth RM1.5bil to RM2bil this year, underpinned by the strong potential opportunities in the construction sector.

“With regard to the East Coast Rail Link and high-speed rail project, we are pre-qualified. However, it remains to be seen whether we will be chosen as the main contractor for both projects.

“That said, even if we are not appointed as the main contractor, there are still plenty of opportunities for us in both projects,” he said.