Sunway Construction bags RM496m contracts

CIMB Research expects stronger quarters ahead for Sunway, driven by construction and healthcare.

KUALA LUMPUR: Sunway Construction Bhd (SunCon) has received three contracts totalling RM496mil construction contracts, pushing its total projects secured this year to RM1.53bil.

It said on Friday it accepted  a letter of award issued by Petronas Management Training Sdn Bhd to build a Petronas Leadership Centre in Bangi, Selangor for RM310mil.

Work will start on Aug 1 and is expected to be completed on March 31, 2021.

SunCon also accepted a letter of intent from Sunway South Quay Sdn Bhd – a subsidiary of Sunway Bhd – to undertake the piling for a mixed development project in Bandar Sunway for RM119mil.

The project shall start on July 15 and it is expected to be completed on March 14.

SunCon accepted a letter of appointment from Ssangyong Engineering & Construction Co Ltd to undertake the electrical and ELV services for three blocks of mixed commercial project along Jalan Ampang for Oxley Rising Sdn Bhd.

The contract sum is RM67.80mil. The Oxley project shall commence on July 1 and is expected to be completed on May 3, 2022.

“The total new projects awarded this year including the three projects above, amount to RM1.536bil which have exceeded SunCon’s target of RM1.5bil for 2019,” it said.