Sunway expects 10% growth in revenue and profit this year

PETALING JAYA: Sunway Bhd expects a 10% growth in revenue and profit for the financial year ending Dec 31, 2018 (FY18), driven by improvement by most divisions.

Founder and executive chairman Tan Sri Jeffrey Cheah said the group would continue to launch property projects, including a major development called Sunway GEOLake set to be unveiled at the end of this month.

“The group expects to hit sales of RM1.3bil this year,” he said after Sunway AGM.

Cheah said the group now had an order book of RM6.4bil, which would keep it busy for two years.

“The group is confident that once the new government settles down, it will rollout new projects, be it for housing, buildings or infrastructure,” he said.

He added that the group’s River Cove condominium project, with a gross development value of S$650mil, had been sold out. “We will continue to eye for new land bank”, he said.

On its healthcare segment, Cheah said the group would continue to deliver good services in this area. He called on Malaysian talents living abroad to return home.

“We want to build an ecosystem for them. We have tied-up with the Cambridge University to set up a centre here, headed by its professors. This will cut short a lot of things as the university will share its knowledge with us, especially in life sciences.

“We are also working with the Harvard University on obesity and diabetics types of research. This will augur well for our healthcare sector,” he said. — Bernama