SunCon forms tie-up to venture into Myanmar market

  • Business
  • Tuesday, 02 Apr 2019

In a statement to Bursa Malaysia, SunCon said its subsidiary Sunway Construction Sdn Bhd it accepted a letter of acceptance worth RM23.17mil from Tenaga Nasional Bhd to conduct piling works for the TNB Campus in Kuala Lumpur

PETALING JAYA: SUNWAY CONSTRUCTION GROUP BHD (SunCon) is set to make its foray into the Myanmar market following its latest partnership with the construction arm of a Myanmar-based conglomerate.

SunCon’s subsidiary Sunway Builders (Myanmar) Co Ltd inked a memorandum of understanding (MoU) with Capital Construction Ltd Ltd (CCL) yesterday, as both parties seek to jointly develop major infrastructure and construction projects in Myanmar.

CCL is the construction division of Capital Diamond Star Group, one of Myanmar’s prominent conglomerates with exposure in the food, retail, construction, healthcare and banking segments, among others.

With the collaboration, Sunway Builders and CCL plan to jointly bid for potential projects to be developed by Capital Diamond such as mix-used developments, offices, hotels and hospitals in Yangon and Mandalay.

Both parties will also bid for other external infrastructure projects.

“The strategic partnership with CCL is expected to not only drive the business growth for SunCon but also for the construction industry in Myanmar.

“This collaboration will be a step forward for CCL and Sunway Builders (Myanmar) to reach a leading position in the Myanmar market,” said SunCon in a statement.

The MoU would also enable both construction giants to share construction knowledge and expertise in project management, to put forward the most effective strategy for project development, it added.

Over the years, CCL has been involved in various major projects in Myanmar such as the Kokkhine flyover, Shwe Gon Dine flyover, Myaynigone flyover, hypermarkets, automotive assembly plant, university and schools.

SunCon is Malaysia’s largest pure-play construction group.

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