KUALA LUMPUR (July 28): Sunway Construction Group Bhd, which opened its maiden trading day at 5.8% or 7 sen above its initial public offering (IPO) price of RM1.27, will look to harness its three main strengths in order to increase its market share of the local construction industry.

Sunway Construction senior managing director Kwan Foh Kwai said they comprised its integrated construction capabilities, proven track record both domestically and overseas, as well as the strong backing of its parent company, Sunway Bhd.

“We have tendered for quite a number of jobs to date, and are confident of achieving the RM2 billion order book for the rest of the year, which includes the Klang Valley Mass Rapid Transit (MRT) Line 2 and the Light Rail Transit (LRT) Line 3 projects,” Kwan told a press conference after the group’s listing ceremony on the Main Market of Bursa Malaysia this morning.

According to Kwan, the slowdown in the property market has little impact on Sunway Construction as it has few residential projects, and are working towards constructing more institutional buildings.

“In Johor, we construct the Legoland theme park, Pinewood studio, even for our in-house projects, we are focused on integrated mix-used developments such as shopping malls, hospitals and universities,” he said.

For the rest of financial year ending Dec 31, 2015, Kwan said the group’s earnings would be better than last year, and it is focused on sustainable growth and earnings feasibility.

With the weakening of the ringgit, Kwan noted that its businesses in Singapore have contributed positively to the group’s growth.

“Our businesses in Singapore contribute quite a fair bit, and depending on the year, it can (account for) somewhere between 30% to 40% of our [total] profit,” he said.

Moving forward, the group will explore venturing into other Asean countries, namely Indonesia.

“If there is actually a conducive business environment, for example, in Indonesia, then we would like to explore. This is also part of the Asean Economic Community, where there is [better] trade and services,” Kwan said.

As at 4.09pm, shares of Sunway Construction were traded up 0.83% at RM1.21, with 148.07 million shares changing hands. The stock is the most actively traded counter today, rising to an intraday high of RM1.32.

Sunway Construction is offering 398.7 million shares and an over-allotment option of up to 59.8 million shares in its IPO. It is selling 327.6 million shares to institutions and 71.1 million shares to retail investors.