New contract wins poised to steer SunCon

RHB Research expects SunCon to see a five-year earnings compounded annual growth rate of 15%, underpinned by data centre job in Johor and steady job awards from its parent company.

PETALING JAYA: Higher progress billings and new contract wins are expected to drive Sunway Construction Group Bhd’s (SunCon) earnings growth in the upcoming quarters, say analysts.

Kenanga Research said while the construction services provider’s revenue and core net profit for the first quarter of the financial year 2023 (1Q23) have eased by double digits, the results met expectations.