Friday 29 Mar 2024
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KUALA LUMPUR (May 14): Sunway Construction Group Bhd (SunCon) has bagged an RM180 million contract from Alliance Parade Sdn Bhd to undertake Phase 1 of the Sunway Medical Centre project.

With this project, SunCon said its outstanding order book amounts to RM6.3 billion.

In a filing with Bursa Malaysia today, SunCon said its subsidiary Sunway Construction Sdn Bhd has accepted the letter of award by Alliance Parade for the proposed development. The job constitutes a related-party transaction as Alliance Parade is an indirect wholly-owned subsidiary of Sunway Bhd, which is a major shareholder of SunCon.

The project will commence on May 15, with completion by Dec 15, 2020.

"The project is expected to contribute positively to the earnings of SunCon from the financial year ending Dec 31, 2018 onwards," it said.

SunCon shares closed down 23 sen or 9.62% at RM2.16 today, with 11.55 million shares done, bringing it a market capitalisation of RM2.79 billion.

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