SunCon bags two piling jobs worth RM86m, YTD job wins reach RM867.7m

This article first appeared in The Edge Financial Daily, on March 21, 2019.
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KUALA LUMPUR: Sunway Construction Group Bhd (SunCon) announced yesterday that it has, via its subsidiaries, bagged two piling works contracts worth a combined value of RM86.43 million, bringing its year-to-date (YTD) job wins to RM867.7 million from its target of RM1.5 billion.

In a Bursa Malaysia filing, SunCon said the first contract relating to the light rail transit 3 (LRT3) was secured by Sunway Geotechnics (M) Sdn Bhd (SunGeo) from SN Akmida Holdings Sdn Bhd for a contract sum of RM47.65 million.

“The LRT3 piling project shall commence on March 25, 2019 and is expected to be completed on March 24, 2020,” it said, adding that SunGeo has been issued a letter of award for the job.

The second contract was secured by Sunway Construction Sdn Bhd from Putrajaya Development Sdn Bhd for a piling job for a proposed transit-oriented development at Plot 7MD7 at Precinct 7, Putrajaya for RM38.79 million.

“The Putrajaya piling project shall commence on March 25, 2019 and is expected to be completed on July 24, 2020,” SunCon said.

“Both the piling projects are expected to contribute positively to the earnings of the group from the financial year ending Dec 31, 2019, onwards,” it added.