SunCon to sell machinery for RM43mil

PETALING JAYA: Sunway Construction Group Bhd (SunCon) is disposing of machinery used for the construction of a prefabrication plant in Singapore for RM43.38mil.

In a filing with Bursa Malaysia, SunCon said its indirect wholly-owned foreign subsidiary, Sunway Concrete Products (S) Pte Ltd (SCPS), had entered into a sale and purchase agreement with HL-Sunway JV Pte Ltd (HLSJV) for the disposal.

HLSJV is a 49%-owned joint venture company of SCPS.

“The transaction will allow HLSJV to apply for incentives offered by the relevant Singapore authority for technology adoption and innovation that improves productivity at the construction sites,” said SunCon.