SunCon Construction Segment Records Steady Progress And Better Margins

SunCon Construction Segment Records Steady Progress And Better Margins

The nation’s largest pure-play construction Group, Sunway Construction Group Berhad recorded yet another record PAT of RM 36.7 million for the quarter ended June 30, 2017 since its listing in July 28, 2015.

The construction group has also recorded an order book replenishment of RM 1.0 billion against its target of RM 2 billion with a high visibility for its future earnings from its current outstanding order book of RM 4.3 billion.

The construction margin has improved to 9.4% from 5.9% when compared against the corresponding quarter of the preceding financial year.

“We are confident about our continued good performance backed by a strong order book and relatively smooth delivery of our current projects. We are still very hopeful of securing new work orders with the likes of the LRT3 project and several projects under our parent company’s development,” said Sunway Construction Group Managing Director, Chung Soo Kiong.

Whilst the precast segment saw a dip in sales in the current quarter, SunCon is confident that the precast segment will be on track once the Singapore Housing and Development Board (HDB) launches are translated into physical construction at site in the near term. Our precast segment mainly serves the HDB market in Singapore.

SunCon has proposed its first interim dividend of 3.0 cents per share for the financial year ending 31 December 2017. This proposed interim dividend is the highest since listing in 2015.

On a separate note, SunCon bagged a total of six awards at the 2016 Malaysian Society for Occupational Safety and Health (MSOSH) awards presentation ceremony held earlier today. This annual occupational safety and health awards are intended to give due recognition to all companies which have achieved commendable safety and health records and/or have shown improvement in occupational safety and health processes through sound safety and health management system. SunCon has won one MSOSH Gold Award Class I, four MSOSH Gold Award Class II and one MSOSH Silver Award under the Construction and Engineering Construction Sector represented by various project sites within Klang Valley and Iskandar Malaysia. The Panel of Auditors for this award consist of representatives from DOSH, CIDB, SOCSO, NIOSH, FMM and SIRIM.

SunCon is also pleased to have been recognised by the Malaysian Institute of Corporate Governance (MICG) in their inaugural report on corporate reporting transparency launched on 8 August 2017. Sunway Construction Group Bhd was ranked fourth  on the list of “Transparency in Corporate Reporting – Assessing Malaysia’s Top 100 Public Listed Companies”. For the report, companies were ranked in three areas – organisational transparency, anti-corruption programmes and sustainability practices.

For more information on the announcement, please refer to:-http://www.bursamalaysia.com/market/listed-companies/company-announcements/5439525

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