Sunway’s S’pore land purchase positive move

Expansion mode: Sunway Pyramid is a popular landmark in the Klang Valley. Sunway is set to benefit from the robust property market in Singapore.

PETALING JAYA: Sunway Bhd’s move to jointly acquire two parcels of prime residential land in Singapore worth RM2.5bil is seen as positive in expanding the conglomerate’s exposure in the city-state.

TA Securities Research analyst Thiam Chiann Wen said the acquisition would further expand Sunway’s land bank in Singapore, allowing the group to benefit from the country’s robust housing market.