KUALA LUMPUR: Sunway Bhd
remains confident of the outlook for its current financial year, given the better performance expected from all segments.
In a filing with Bursa Malaysia, Sunway said its property development segment continues to strategically replenish its landbank in Malaysia and Singapore.
“In October 2024, the group signed a sale and purchase agreement to acquire a parcel of 17.58-acre prime freehold land located at Taman Taynton, Kuala Lumpur.
“In the Southern region, the group is optimistic of the prospect of Sunway City Iskandar Puteri (SCIP). Following a full take-up rate for its Sunway Aviana development, SCIP launched its maiden freehold residential project Sunway Maple Residence Phase 1 in September 2024.”
In Singapore, Sunway said its joint venture entity, between Sunway Development and Hoi Hup Realty, was awarded a mixed commercial and residential development site of 5.8 acres located at Tampines Street 94, Singapore.
“This marks the group’s second successful land tender acquisition in Singapore this year.”
For the third quarter ended Sept 30, 2024, Sunway’s net profit rose to RM376.08mil from RM180.30mil in the previous corresponding period, while revenue grew to RM2.03bil from RM1.54bil a year earlier.
Basic earnings per share for the quarter stood at 5.28 sen versus 2.61 sen previously.
For the nine-months period ended Sept 30, 2024, Sunway’s net profit surged to RM818.78mil from RM471.87mil in the previous corresponding period, while revenue rose to RM5.03bil from RM4.27bil previously.
Looking ahead, Sunway said its healthcare segment continues to increase the bed capacity at its three operating hospitals.
“Sunway Medical Centre Penang added 82 licensed beds, bringing its total licensed beds to 287 and Sunway Healthcare Group’s (SHG) total licensed beds to 1,240 as at Sept 30, 2024.
“With the planned opening of Sunway Medical Centre Damansara in December 2024 and Sunway Medical Centre Ipoh in the first quarter of 2025, SHG’s portfolio will expand to five hospitals and its total bed capacity to approximately 2,500.”
Additionally, Sunway said its construction segment achieved a new order book replenishment of RM4.3bil to date, backed by a solid outstanding order book of RM7.1bil.
