SunCon secures RM186 mil worth of construction works

KUALA LUMPUR (March 24): Sunway Construction Bhd (SunCon) said its subsidiaries Sunway Construction Sdn Bhd (SCSB) and Sunway Geotechnics (M) Sdn Bhd (SunGeo) have secured RM186 million worth of contracts for construction works.

According to its bourse filing, the largest contract — valued at RM152.4 million — was awarded by Gas District Cooling (Putrajaya) Sdn Bhd to SCSB.

The contract entails the engineering, procurement, construction and commissioning (EPCC) works at Gas District Cooling (GDC) Plant 1 in Precinct 1, Putrajaya, starting March 27, 2017, to August 27, 2018.

Besides that, Cergas Murni Sdn Bhd had awarded SunGeo an RM18.06 million contract for bore piling works for the Sungai Besi-Ulu Kelang (SUKE), Section B — Cheras to Ulu Kelang package, to commence on May 15, 2017, and to be completed on April 30, 2018.

SunGeo also secured another bore piling works contract for the Damansara-Shah Alam (DASH) expressway for Section A — Puncak Perdana to Kota Damansara for a sum of RM15.83 million.

The project will commence on March 23, 2017 and is expected to be completed on Jan 16, 2018.

The new projects secured have boosted SunCon’s outstanding orderbook to RM4.9 billion.

“The GDC, SUKE and DASH projects are expected to contribute positively to the earnings of SunCon group from the financial year ending Dec 31, 2017 onwards,” it said.

SunCon’s share price  closed up one sen or 0.56% at RM1.80, giving it a market capitalisation of RM2.33 billion. — theedgemarkets.com

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