KUALA LUMPUR: Sunsuria Berhad (“Sunsuria”) recently clinched the Gold award in the Property Sector at The Edge Billion Ringgit Club Corporate Awards 2017.
Winning the ‘Highest Returns to Shareholders Over Three Years’ title, Sunsuria demonstrated it is the best performing property stock among companies with below RM3 billion market capitalisation.
The ‘Highest Returns to Shareholders’ award is bestowed on companies with the highest compound returns to shareholders, comprising growth in share price and dividends received over the three years, adjusted for any rights/bonus issues, distribution of treasury shares, dividend in specie and capital repayment.
In its recently announced Q3 financial results, Sunsuria posted revenues of RM122.7mil and net profit of RM31.9mil, reflecting the company’s solid business performance resulting from positive response from the market for its products.
Year-to-date, the company’s revenue increased to RM290.2mil from RM114.7mil whilst net profit increased to RM60.5mil from RM19.3mil as compared to the corresponding 9-month period last year.
Year-on-year, its Q3 revenue has more than doubled to RM122.7mil from RM58.4mil and net profit increased by 373% to RM31.9mil from RM6.7mil. On a quarter-on-quarter basis, Q3 revenue represents a 18% increase while net profit increased by 77%, as compared to RM103.7mil and RM18mil respectively in Q2.
“We are honoured to be recognised among the top listed companies in Malaysia for consistently providing outstanding value for our shareholders. Our financial results demonstrate the effectiveness of our industry collaborations and innovative solutions that continue to exceed market demands,” said Sunsuria’s Chief Executive Officer Koong Wai Seng, who was present to receive the award at the gala dinner on the 21st of August 2017.
In April, Sunsuria acquired a 51% stake in construction firm Prosperspan Construction Sdn Bhd to expand into the construction business. In June, the Group signed a partnership with Hong Kong-based CITIC International Investment Ltd (CIIL) to carry out construction work and property development in Malaysia.
Currently in its 8th year, The Edge Billion Ringgit Club Corporate Awards recognises the performance of Malaysia’s biggest listed companies in terms of highest profit growth, return on equity, and total shareholder returns (capital gains plus yield) over three years.