KUALA LUMPUR: Shares of SUNRISE BHD [] advanced in early trade on Monday, Nov 1 following the upbeat outlook as it plans to launch at least four major property projects with gross development value (GDV) totalling RM2.7 billion next year.

At 9.27am, Sunrise was up nine sen to RM2.37 with one million shares done.

The FBM KLCI was up 2.80 points to 1,508.46. Turnover was 174.53 million shares valued at RM103.88 million. There were 222 gainers, 110 losers and 179 stocks unchanged.

Sunrise anticipates better results for FY2011 ending June 30, given its large unbilled sales of RM1.2 billion.

Its executive chairman Datuk Tong Kooi Ong said that among those slated to be launched would be the 'MK20' mixed development project in mid-2011 with GDV of about RM1 billion, stressing that the project nestled in Mont'Kiara would be multi-phased, offering different kinds of products.

"MK20 will meet the demands of the market," he said after the group's AGM last Thursday, Oct 28.

Tong also said Sunrise would likely launch the Menara Solaris office buildings in the city centre early next year and that it was deliberating on whether the project with a GDV of RM480 million would be sold en-bloc or in the market.