KUALA LUMPUR: Sunway Construction Sdn Bhd (SunCon) has secured a RM253 million contract from Sunway REIT Management Sdn Bhd for the refurbishment of the four-storey shopping complex and one-storey cultural/commercial centre known as Sunway Carnival Mall in Seberang Jaya, Penang.
The project is over 24 months from the date of commencement on July 1, 2023, and is expected to be completed by June 30, 2025, it said in a filing with Bursa Malaysia.
"The project is expected to contribute positively to the earnings of SunCon Group for the financial year ending Dec 31, 2023 onwards,” it said.
Total new projects secured by SunCon Group this year including the abovementioned project amounted to RM1.53 billion.
SunCon and Sunway REIT have common major shareholders/unitholders, while Sunway Bhd
is a major unitholder of Sunway REIT.
At the close of trading on Bursa Malaysia today, SunCon’s share price slipped one sen to RM1.54 with 323,800 shares changing hands. - Bernama
