Sunway said its healthcare segment continues to increase the bed capacity at its three existing hospitals.
PETALING JAYA: Sunway Bhd
remains confident for the outlook of its current financial year given the better performance expected from all its business segments.
In a filing with Bursa Malaysia, Sunway said its property development segment continues to strategically acquire land 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 in Taman Taynton, Kuala Lumpur.
“In the southern region, the group is optimistic about the prospect of Sunway City Iskandar Puteri (SCIP) township development. Following a full take up for its Sunway Aviana development, SCIP launched its maiden freehold residential project Sunway Maple Residence Phase 1 in September.”
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.
“This marks the group’s second successful land tender in Singapore this year,” the group said its filing.
For the third quarter ended Sept 30, 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.
Sunway said the higher revenue in the current quarter was attributed to better performances from most business segments except for the quarry segment.
“The increase in pre-tax profit in the quarter was mainly due to stronger operating performances across most business segments, except for the trading and manufacturing segment.”
Basic earnings per share for the quarter stood at 5.28 sen versus 2.61 sen previously.
For the nine-month period ended Sept 30, 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 existing hospitals.
“Sunway Medical Centre Penang added 82 licensed beds, bringing its total beds to 287 and Sunway Healthcare Group’s (SHG) total licensed beds to 1,240 as of Sept 30.
“With the planned opening of Sunway Medical Centre Damansara in December 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.”
Sunway said private healthcare is poised for sustained growth on the back of an ageing population, increase in non-communicable diseases and medical tourism.
“The group’s healthcare segment is well-positioned to ride the momentum.”
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.
“The segment is currently constructing five data centres for four multinational corporations while actively pursuing more opportunities in the advanced-technology-facilities space.”
