KUALA LUMPUR: Sunway Bhd’s soon-to-be-listed subsidiary Sunway Construction Group Bhd has clinched a RM243.691mil deal to build and complete the main building work of a commercial block in Bandar Sunway for Sunway South Quay Sdn Bhd.
Sunway Bhd told Bursa Malaysia that Sunway Construction Sdn Bhd, owned by Sunway Construction Group, had on Thursday accepted the letter of award issued by SA Architects Sdn Bhd in relation to this.
The building will comprise seven storeys of retail space, four storeys of office space, three storeys of semi basement car park and a block of 27-storey service apartment with five levels of podium car park.
The project will be divided into two zones. It will start on June 25 with Zone 1 and Zone 2 to be completed on Feb 28, 2017 and March 31, 2018, respectively.
Sunway Bhd said the project was expected to contribute positively to the earnings of the Sunway group from the financial year ending Dec 31, 2015, onwards.
“The project is subject to normal construction risk of materials price fluctuation. However, with the past experiences and expertise of SunCon in construction projects, this risk could be mitigated,” it said.
None of the directors or substantial shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the project.
Sunway Bhd rose 5 sen to close at RM3.52 on Thursday.