KUALA LUMPUR (Jan 17): Sunway Construction Group Bhd (SunCon) has won a RM218.76 million contract to build a 50 MW photovoltaic plant in Kampar district in Perak.
The group's wholly-owned unit, Sunway Construction Sdn Bhd, received the letter of award from Gopeng Bhd's subsidiary GBS Suria Sdn Bhd, said SunCon in a bourse filing.
The contract is considered a related party transaction as Sunway Bhd's indirect subsidiary Fortuna Gembira Enterpris Sdn Bhd, is the major shareholder of Gopeng.
The director and major shareholder of SunCon, Evan Cheah Yean Shin, is also a major shareholder of Sunway. In addition, SunCon director Tan Sri Dr Chew Chee Kin is also a director of Sunway and Gopeng.
SunCon said the project is expected to start on Jan 17 and be completed within 20 months.
It will contribute positively to SunCon Group's earnings from the financial year ending Dec 31, 2023, the group added.
SunCon shares closed down one sen or 0.61% at RM1.63 on Tuesday (Jan 17), valuing the group at RM2.11 billion.