By Stella Goh

Despite the Covid-19 challenges resulted in lower profit achieved in second quarter, Sunway Construction Group Berhad is keeping its RM2 billion order book target this year. On 18 August 2020, SUNCON has announced two new contract wins worth RM747 million, and the awards is lifted its year-to-date order book replenishment to RM1.47 billion, close to 75% of its RM2 billion target for FY2020. The two new in-house orders were Sunway Belfield with a value of RM402.9 million and a commercial mixed development project (CP2) at Sunway South Quay with a value of RM463.2 million. The contract sum for CP2 Project is inclusive of RM119 million of substructure works which have been awarded in FY2019.

In second quarter of ended June 30, the company’s posted a revenue of RM140.2 million and a net profit of RM2.2 million. The company is able to reduce its operational expenses amid the pandemic to maintain a profit position and they have proposed a first interim dividend of 1.25 sen per share for the financial year ending 31 December 2020. Moving forward, SUNCON will continue to expand overseas and take on in-house pipeline projects by Sunway Group for sustained growth. They will also be looking into the renewable energy sector with a focus on solar projects and district cooling systems.
 

SUNCON and MRCB George Kent signed agreement for LRT3 Package

SUNCON has signed an agreement with MRCB George Kent (MRCBGK) for Package GS07-08 of the Light Tail Transit Line 3 (LRT3) project from Bandar Utama to Johan Setia by Prasarana Malaysia Berhad. The agreement was signed on 19 August 2020 following the appointment of MRCBGK as a turnkey contractor as a result of the change from a project delivery partnership turnkey contract pursuant to contract between Prasarana and MRCBGK.

According to the SUNCON, they have revised the scope of work in the Package GS and agreed with the salient amendments. The amendments entailed changes in the design and scope of the project and a new revised contract price of RM1.295 million is agreed between SCSB and MRCBGK, and the revised completion data for the project will be 30 November 2023. The project included the construction and completion of guideway, stations, parks and rides, ancillary buildings, and other associated works.

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