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Posted Date: June 10, 2015 12:00 AM, By:
Sunway Sweeps Seven Investor Relations Awards

Kuala Lumpur, 9 June 2015 - Sunway Berhad emerged best company winning a respectable seven awards under the mid-cap category at the recent fifth Malaysian Investor Relations Association (MIRA) awards ceremony. 

Tan Sri Dr. Jeffrey Cheah, AO, Founder and Chairman of Sunway Group was named Best Chief Executive Officer for Investor Relations (Mid Cap); Ng Lai Ping, Deputy Chief Financial Officer, Sunway Berhad, was named best Chief Financial Officer for Investor Relations; and Clement Chen, Assistant General Manager - Corporate Finance, Sunway Berhad, was named Best Investor Relations Professional. 

Sunway also took home awards for Best Investor Relations Website (Mid Cap), Best Knowledge and Insights of Investor Relations Team, and Most Improved Service from Investor Relations Team.  

The MIRA was established in June 2007 by Bursa Malaysia and was funded by the Capital Market Development Fund (CMDF), a statutory fund under the purview of the Securities Commission of Malaysia. The awards recognise individuals and companies that have successfully embraced best investor relations practices. The winners were chosen based on surveys undertaken by NASDAQ in partnership with MIRA, and was extended to over 2,200 buy-side and sell-side professionals globally. 

“The wins are a testament to the Group’s continuous effort to bridge the gap between our management and the investing community through prompt and transparent communication. We are delighted by the investment community's acknowledgement and would like to take this opportunity to thank them for their support and interest in Sunway,” said Mr. Evan Cheah, Executive Vice President – President’s Office of Sunway Group who received the award on behalf of Tan Sri Dr. Jeffrey Cheah.

In December 2014, Sunway Berhad was also listed on the FTSE4Good Bursa Malaysia Index, an index that recognises publicly listed companies that distinguish themselves by consistently demonstrating socially responsible business practices. Sunway was one of only 24 stocks to be identified and included as a constituent of the FTSE4Good Bursa Malaysia Index. 

The FTSE4Good series of indices is recognised by market participants internationally for its efforts in identifying and measuring the performance of companies demonstrating well-defined Environmental, Social and Governance (ESG) practices and aids investors in ethical investment decision making and portfolio management.  

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Posted Date: May 12, 2015 12:00 AM, By:
Sunway Buys Prime PJ Land for Rm286m

Bandar Sunway, 11 May 2015 - Sunway Berhad (Sunway) has signed agreements to acquire 17 acres of prime land in Kelana Jaya from Kelana Resorts Sdn. Bhd. Strategically located within close proximity to Petaling Jaya, Sunway Resort City, Subang Jaya; and walking distance to the Setia Jaya KTM station, the land is slated for a mixed development with an estimated gross development value (GDV) of RM1.8 billion.

Sunway Berhad, via its wholly-owned subsidiary, Sunway Dimension Stones Sdn. Bhd., has entered into sale and purchase agreements with Kelana Resorts Sdn. Bhd. and Viva Variasi Sdn. Bhd. (a wholly-owned subsidiary of Kelana Resorts Sdn. Bhd.) to purchase the land parcels for approximately RM286 million or RM 386.31 per square foot.

Fronting Lebuhraya Damansara-Puchong (LDP) Expressway, the land is easily accessible from major highways and local roads; amongst others, via an underpass on Lebuhraya Damansara-Puchong, Federal Highway via Jalan Majlis and local roads to New Klang Valley Expressway and Subang Airport. It is approximately 600 metres from the Setia Jaya KTM and Sunway Setia Jaya Bus Rapid Transit-Sunway Line stations which provides residents access to public transportation networks to Kuala Lumpur city centre, Subang Jaya, Sunway Resort City, Shah Alam and Klang. 

Sited next to Western Digital in the Sungai Way Free Trade Zone, the land is within the vicinity of the beautiful Kelab Golf Negara Subang which has two 18-hole golf courses. In addition, it is adjacent to a 15-acre water retention pond where its landscape will be enhanced by Sunway alongside the local authorities to provide residents with additional recreational activities.

On the proposed development, Sunway Berhad’s Managing Director of Property Development Division for Malaysia and Singapore, Sarena Cheah said, “17 acres of land will allow us the flexibility and space to develop a contemporary mixed development with an unobstructed view of the golf courses and a concept focused on serene living amidst lush greenery and a beautiful lake.”

“It will be a highly sought-after development given its prime location and wide accessibility. It is also flanked by mature and affluent neighbourhoods of Petaling Jaya, Sunway Resort City, Subang Jaya and Shah Alam.” she added. 

To date, Sunway Berhad’s unbilled property sales of RM2.5 billion combined with its remaining landbank of 3,380 acres with a potential GDV of RM50 billion will keep the property division busy in the next 15 years.

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Posted Date: April 03, 2015 12:00 AM, By:
Sunway Wins Three Miti Awards Including Prime Minister’s Award

Kuala Lumpur, 2 April 2015 – Leading property-construction group, Sunway Berhad, represented by its property and construction arms, collectively clinched three awards at the MITI Industry Excellence Awards (AKI) including the Prime Minister’s Award, the highest accolade at the awards ceremony. The Prime Minister’s Award, which carries a cash prize of RM 500,000 and a trophy, is awarded to the most outstanding company chosen from a selection of winners across 10 categories in the manufacturing and services sector each year. The award aims to recognise the company with the best practises that renders it as an inspiring role model to other companies.

In a true blue Malaysian spirit, Sunway Group Founder and Chairman Tan Sri Dr. Jeffrey Cheah, upon receiving the RM 500,000 cash prize, will donate the entire sum to the Jeffrey Cheah Foundation which in turn will be disbursed as scholarships to deserving young Malaysians.

Both Sunway’s core business arms, Sunway Property and Sunway Construction, emerged as winners in their respective categories. Sunway Property was declared winner of the Open Category Services Sector Award while Sunway Construction won the Category 3 Services Sector Award which acknowledges service excellence within the construction industry.

Organised by the Ministry of International Trade and Industry (MITI), the AKI recognises outstanding Malaysian companies to encourage continuous improvement in products and services, and has gained a reputation for being the nation’s premier corporate recognition award. AKI 2014 uses the Business Excellence Framework (BEF) as the benchmark criteria in the evaluation process. The BEF is used by many international organisations as a guide to promote outstanding practices in business by incorporating elements required for world class business excellence.

Sunway Group Founder and Chairman Tan Sri Dr. Jeffrey Cheah received the Prime Minister’s Award from the Prime Minister Datuk Seri Najib Tun Razak. Ms. Sarena Cheah, Managing Director of Property Development Division for Malaysia and Singapore, received its award on behalf of Sunway Property while Mr. Kwan Foh Kwai, Senior Managing Director of Sunway Construction, received its award on behalf of Sunway Construction.

Upon receiving the awards, Tan Sri Dr Jeffrey Cheah said that winning the awards is a recognition that Sunway is on the right track in its vision to become a leading property-construction group in the region.

“As Sunway forges ahead to become a leading regional property-construction group, we remain committed to delivering products and services that showcase Malaysia’s leadership in the region, while incorporating best global practices that enhance our competitiveness,” said Tan Sri Dr. Jeffrey Cheah.

In the past year, Sunway Property has garnered some 20 international and national industry accolades and awards, including ranking first in The Edge Top Property Developers Awards (TPDA) 2014 as well as clinching the Best in Qualitative Attributes Award 2014 and The Edge-PAM Green Excellence Award 2014 at the same awards ceremony for its eco-luxurious property, The Banjaran Hotsprings Retreat in Sunway City Ipoh.

“We believe that one of the key factors to our continued success as a master community developer is our constant focus on customer-centricity and taking into account both internal and external customers. Building a successful brand, we strongly believe, is largely about effective co-creation; the brand owner and its customers must work together to continuously improve the brand so both parties can benefit,” said Sarena Cheah. 

This award serves as a wonderful recognition for our work, and a clear indication that we are on the right track, especially in light of the upcoming listing of Sunway Construction Group Berhad on Bursa Malaysia as a pure-play construction service provider. With a strong brand heritage and proven track record of more than 30 years, Sunway Construction is ready to capture opportunities for growth both locally and internationally,” said Kwan Foh Kwai.

Having completed numerous iconic projects such as the Kuala Lumpur Convention Centre, Pinewood Iskandar Malaysia Studios, Legoland Malaysia Theme Park and Rihan Heights in Abu Dhabi, Sunway Construction bagged the Builder of the Year Award at the Malaysian Construction Industry Excellence Awards (MCIEA) 2013.

Its on-going projects include the Klang Valley MRT package V4, elevated Bus Rapid Transit – Sunway line, KLCC North East Car Park and the Afiniti Medini in Johor Bahru. Global consulting firm Frost & Sullivan named Sunway Bhd. Builder of the Year 2014 in the Best of the Best category.

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Tags: Sunway Berhad, Sunway Construction Sdn Bhd, Sunway Property Show 2013


Posted Date: January 02, 2015 12:00 AM, By:
Sunway’s order book set to hit RM3.3b

Sunway Berhad’s order book is set to swell to RM3.3 billion after it signed the letter of acceptance issued by SJIC Bina Sdn Bhd for the proposed design, construction, testing and completion of the Coastal Highway Southern Link in Johor for RM169.9 million.

In its research note, Hong Leong Investment Bank (HLIB) said it is positive with the project as it will further increase the group’s outstanding order book and implies 2.26 times cover over Sunway’s 2013 construction revenue.

“The Coastal Highway Southern Link is expected to benefit Sunway Iskandar, a major township by Sunway, Khazanah Nasional Bhd and Iskandar Investment Bhd, and other developments in Medini Iskandar,” HLIB told investors.

It has maintained a “buy” recommendation on the stock, with an unchanged target price of RM3.65.

Meanwhile, on the stock market, HLIB said there is limited upside amid potential post window-dressing consolidation.

“Overall, market is likely to remain choppy, induced by thin volume in a subdued market due to profit-taking consolidation and a five-year low in crude oil prices, which could reignite concerns about government budget balance and trade balance.”

These could add downward pressure to ringgit and gross domestic product growth, prior to the Goods and Services Tax implementation in April next year.

The investment bank said weekly supports of the FTSE Bursa Malaysia KLCI are at between 1,725 and 1,743 points, while resistance is near 1,784 levels.

- New Straits Times

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Tags: Hong Leong Investment Bank, SJIC Bina Sdn Bhd, Sunway Berhad


Posted Date: September 24, 2014 12:00 AM, By:
Sunway Property Grows Together with Its Communities

Sunway Property celebrated 554 new additions to its communities across the nation with its second 40th Anniversary Buyer’s Appreciation Event. The property owners have purchased properties across the region from Klang Valley, Ipoh, Penang and Johor since May 16 – Aug 31. During this time, Sunway Property had achieved RM 1.3 billion in sales to date.

The Buyer Appreciation Event was held across the region with a live feed of the event broadcasted from Sunway Resort Hotel & Spa in Klang Valley, to the event held in Double Tree by Hilton in Johor Bahru, and Sunway Hotel Georgetown in Penang.  

Over 1,000 guests were treated to a grand luncheon, and was serenaded by a string quartet. At the event, cash prizes worth more than RM160,000 were handed out. A total of 27 lucky purchasers were rewarded across the region.

Tan Kim Huan, 45, the proud new owner of Sunway Geo Residences 2, walked away with the grand prize, a total of RM40,000 from the luncheon.

Tan Kim Huan, who bought Sunway Geo Residences 2 said that she had purchased the property so that her children can be located near two renowned universities, Sunway University and Monash University, when they pursue their tertiary education.

“Sunway Property certainly lives up to its pledge as a master community builder. Sunway Geo Residences 2 is in a superb location with world-class amenities nearby. I am delighted to win this prize on top of the new property I have – it just goes to show how Sunway is committed to serving their customers the best they can,” she said.

During the event, Ong Pang Yen, Sunway Property’s Joint Managing Director of Malaysia and Singapore, thanked the new homeowners for supporting Sunway’s work as a master community developer.

“As a master community developer, we view value creation as a lifelong commitment. Value creation, at Sunway, does not only stop with the handing over of vacant possession to our buyers. We continue to make improvements to our neighborhoods and townships because we work on a co-investment model. This ensures that our buyers that we have common interest to make everything work and appreciate in value. That way we grow together, and  gain together,” he said.

Throughout the year, in conjunction with Sunway’s 40th Anniversary, Sunway Property will be giving out attractive prizes for property bookings made. The grand prize is a serviced residence worth more than RM500,000 in the developer’s largest township yet, Sunway Iskandar. Cash prizes worth more than RM480,000 are also given away every four months. In addition, purchasers are also entitled to receive a complimentary Montblanc writing instrument upon SPA signing. The next 40th Buyer’s Appreciation Event will be held in January next year.

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Posted Date: September 01, 2014 12:00 AM, By:
Sunway Berhad Bags Four Awards at SEAPA Malaysia 2014

Sunway Berhad bagged a total of four awards at the Southeast Asia Property Awards Malaysia 2014 at its Gala Dinner held at Westin Kuala Lumpur recently. Ong Ghee Bin, Executive Director of Property Development Division, Central Region, Malaysia received the award from Mr David Aboud, the chairman of the judging panel and the Director, Investments and Assets Management, Asian Real estate, guidance investments.

Sunway Berhad came out on top for the Best Developer category, while Sunway Wellesley represented by Ahila Ganesan, Assistant General Manager of Sunway Penang received Best Housing Development (North Malaysia) category. Sunway Montana represented by Ong Ghee Bin, received Best Housing Development (Central Malaysia) category while Sunway Lenang Heights represented by Tan Wee Bee, Executive Director- Property and Construction, Southern Region, Malaysia and Singapore received Highly Commended under the Best Housing Development (South Malaysia) category.

Sarena Cheah, Joint Managing Director – Property Development Division, Malaysia and Singapore said that Sunway is humbled to have garnered four recognitions at SEAPA (Malaysia) 2014.

“We are pleased to receive these recognitions as they help us benchmark our developments against the best in the region. Sunway is always striving to better our developments and the brand for our communities while elevating liveability for all Malaysians. We not only build townships but we celebrate the communities living in it by making our very best efforts to offer them the finest products and services throughout their journeys with us. Sunway remains committed to being a master community builder. We would not be here without their trust, loyalty, and support. We look forward to represent the country at the regional awards,” she said.

Sunway Wellesley is Sunway Property’s first residential development in mainland Penang. The 82 acre development with stunning contemporary homes adorned with lush feature-rich landscape is located in Bukit Mertajam with a total gross development value of RM 800 million.

Sunway Montana is a freehold green development in the pristine Desa Melawati with a 14 acre park inclusive of a skywalk and a RM 10 million clubhouse. Merely 13km away from KLCC, each abode is designed with the latest sustainable innovation.

Sunway Lenang Heights is an exclusive gated freehold 88 acre residential development situated at Taman Molek, Johor Bahru. With 60% green, the development features lush landscaping with extensive parks and an ultramodern clubhouse.

The developer awards are judged based on a total of five criteria, which includes reputation image and CSR, quality of projects, track record, innovation and major achievements. The development awards on the other hand are judged based on seven criteria including design and amenities, location, value for money, use of space, construction and materials, unique selling points, state of completion and sales success.

The Award recognizes the high calibre work within the Asian real estate industry, encompassing construction, architecture and interior design. Started in Thailand in 2005, the Asia Property Awards have since expanded to reward developments, consultants, architects and designers in China, Singapore, Malaysia, Indonesia, the Philippines and Vietnam.

Sunway Berhad will join the winners from Indonesia, Singapore, and Vietnam to compete at the grand finale South East Asia Property Awards on October 16 in Singapore.

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Tags: SEAPA Malaysia, Southeast Asia Property Awards Malaysia, Sunway Berhad


Posted Date: April 17, 2014 12:00 AM, By:
Frost & Sullivan Names Sunway Berhad as Malaysia's Builder of the Year

ISKANDAR: Global consulting firm, Frost & Sullivan has honoured Sunway Berhad as Malaysia’s Builder of the Year 2014 at its Best Practices Awards ceremony under the category of the Best of the Best.

The Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development.

The award ceremony was held in Traders Hotel in Puteri Harbour. Sarena Cheah, Joint Managing Director for Property Development Division of Sunway Berhad for Malaysia and Singapore, received the award from Yg Bahagia Tan Sri Abdul Halim Ali, Chairman, MDeC.

“It is an honour to receive this award, which came in time for Sunway’s 40th Anniversary celebration. I would like to say that Sunway did not make the journey here alone. Our people and our communities who have believed in us, since we first undertook the transformation of a derelict tin-mine 40 years ago, to the ever-evolving Sunway Resort City you know today has made all the difference for us,” she said.

“We not only build townships but we create and celebrate the communities living in it. We make our very best efforts to offer them the finest products and services throughout their journeys with us, allowing Sunway to touch our customers and communities in many ways, be it in property, healthcare, education, hospitality and much more,” she added.

She concluded, “This award, as much as it is for Sunway, is for the 13,000 employees of Sunway Berhad as well as the many communities whom we have the privilege to be part of in 40 locations worldwide. We wouldn’t be here without their trust, loyalty, and support.”

Sunway Berhad is famed for turning an ex-mining land into the now thriving Sunway Resort City which is home to 50,000 people including 20,000 students. Sunway Resort City is the now the only township in Malaysia with seven key components – leisure, hospitality, residential, education, retail, commercial and healthcare in one single destination and is the first township to be recognized as a sustainable township by the Green Building Index.

The corporation has also developed an over 1,300 acre integrated township in Sunway City Ipoh. It’s property division, Sunway Property has delivered more than 20,000 homes across Malaysia. 

It’s construction outfit has helped built some of the iconic projects around Malaysia including KL Convention Centre, and offices in Putrajaya and in Iskandar Malaysia, it has undertaken the construction of Legoland Malaysia, Pinewood Iskandar Malaysia Studios, and the BioXcell factory, as well as the Affinity Urban Wellness Centre. Currently it is involved in some of the biggest infrastructure works in the nation, the MRT and LRT as well as constructing Malaysia’s first BRT Sunway Line. 

Sunway Berhad is one of the largest landowners in Iskandar Malaysia and is developing a new integrated township upon 1,800 acres, with an estimated RM30 billion GDV. The township fronts the sea, has a river traversing it, and is surrounded by forests, offering both Malaysians and Singaporeans a Nature’s Capital City to live in.

The awards selection process is a rigorous four-step process which includes market scan and research, an industry analyst shortlist derived from the comparison of market participants which measure performance through in depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry, a presentation of competitive matrix and finally, a selection by a panel of judges comprising of key global and regional management personnel for Frost and Sullivan as well as key government personnel.

Sunway Berhad had been acknowledged as Malaysia’s Builder of the Year by the because of its iconic property developments and contribution in the construction of green buildings. The selection was also based on its revenue growth, market share in the real estate category, growth in market share, demonstration of leadership in demonstrated leadership in new product introduction and innovation, breadth of products and solutions, and business market strategy. 

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Posted Date: December 19, 2013 12:00 AM, By:
Sunway's Stock To Be On Limelight Following Land Acquisition Announcement

KUALA LUMPUR: Sunway Bhd's share on Bursa Malaysia is expected to be on the limelight yesterday following its 24.5-acre land acquisition announcement Tuesday.

The land was acquired through its wholly-owned subsidiary, Sunway City (Penang) Sdn Bhd, with the intention to establish its first landmark development in Penang.

In a filing to Bursa Malaysia Tuesday, Sunway said the proposed acquisition will provide an estimated gross development value (GDV) of RM1.5 billion when fully developed, as the land is strategically located within the vibrant centre of Penang Island and surrounded by tourism spots as well as matured residential townships.

The acquisition is expected to be completed within three months.

Meanwhile, Hong Leong Investment Bank has maintained its "buy" call on Sunway following this acquisition, with unchanged target price of RM3.35.

"Despite the potential headwinds from property tightening measures and slower contract flows, its recapitalised balance sheet and large order book will be able to sustain earnings growth.

"With the latest acquisition, it will lift Sunway's landbank in Penang to 145 acres, with total Penang GDV of RM3.3 billion, which represents six per cent of Sunway's overall GDV," it said in a note.

As at 10.16 am, the property developer share gained one sen to RM2.65, with 11,200 lots transacted.


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Tags: Four Points by Sheraton Penang, Sunway Berhad


Posted Date: June 12, 2013 12:00 AM, By:
Third Consecutive Win for Sunway

A testament to its strength and continuous growth as Malaysia’s leading developer, Sunway Berhad’s Property arm emerged as one of Malaysia’s Top 10 property developers for the third consecutive year at the BCI Asia Awards 2013 – Malaysia held at One World Hotel recently.

The BCI Asia Top 10 Awards is a prestigious label of excellence and success for firms in the region and beyond. The awards recognizes the ten leading design and development enterprises in seven key Asian markets, namely Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, that have made the greatest contribution to the built environment in the prior year.

Winning firms, to date, were identified by BCI Asia according to the aggregate value of their projects under design or breaking ground in 12 months preceding the award year. The data is compiled by BCI Asia’s researchers from interviews conducted with more than a quarter of a million architects and other building professionals.

“This is a strong recognition of the Sunway brand which underpins our drive to continuously deliver highly regarded and innovative products which are key to Sunway Berhad’s sustainable growth as a leading property developer,” said Ong Pang Yen, Managing Director of Property Development Division, Sunway Group.

“Sunway remains committed to being a responsible and eco-friendly developer. We conscientiously incorporate into our designs and developments key features that would help conserve energy and water, and continuously reduce inefficiencies that lead to wastage both during the construction stage and when operational. These are ideals we will pursue without sacrificing comfort and functionality,” he added.

Ong explained that the organization remains a committed community builder and continues to enrich the lives of the communities in which it builds and serves. A pioneer in delivering and managing integrated townships and developments in Malaysia, the growing vibrancy of its six integrated developments including Sunway Resort City, Sunway City Ipoh, Sunway Damansara, Sunway South Quay, Sunway Putra Place and Sunway Velocity reaffirms the Group’s promiseto its communities.

Sunway Berhad’s next catalytic development will be Sunway Iskandar, where the organization will be reimagining its future community in Iskandar Malayisa upon 1,770 acres of land.  With a GDV of USD 7.7 billion, Sunway Iskandar is the closest parcel of land to Singapore’s second link in Nusajaya, representing locational advantages and a potential for high capital appreciation.

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Tags: BCI Asia Top 10 Awards, Sunway Berhad


Posted Date: May 16, 2013 12:00 AM, By:
Sunway Velocity Wins 'Best Mixed-Use Development' at the Asia Pacific Property Awards

Sunway Velocity bagged the ‘Best Mixed-Use Development’ Award category in the 2013-2014 Asia Pacific Property Awards. Sunway Berhad’s Executive Director of Strategy & Corporate Development, Sarena Cheah, received the award at the regional Property & Hospitality Shows and Awards Gala from Lord Bates held in Shangri-La Hotel, Kuala Lumpur. Sunway Velocity is Sunway Property’s third development to be awarded at the Asia Pacific Property Awards.

At the 2011-2012 Asia Pacific Property Awards, Sunway Berhad triumphed when Sunway Vivaldi received the Five-Star Award for the Condominium category while Sunway Rydgeway received the Highly-Commended Award for the Development (Multiple Units) category.

Sarena Cheah said, “This is our third success at the Asia Pacific Property Awards, and Sunway Velocity’s win underscores our strength in conceptualizing and developing unique integrated developments. We are proud to have established ourselves as a world-class property developer on par with well-known developers globally.”

Sunway Velocity was selected amongst numerous projects submitted to be acknowledged in the category. The International Property Awards received entries from Asia Pacific companies in 23 countries. With 429 awards bestowed upon 260 companies from 23 countries in the region, this year’s installation is one of the biggest International Property Awards regional event in the awards program’s 19-year history.

The event is part of the long established International Property Awards, and its award winners’ logo is recognised as a symbol of excellence throughout the global property industry. The awards are split into regions covering Africa, Asia Pacific, Arabia, Canada, Caribbean, Central & South America, Europe, UK and USA. The highest-scoring winners from each region are automatically entered into the overall International Awards, which pay tribute to the world’s best property developments and companies.

The Freehold Sunway Velocity is strategically located just 3.8km from the highly prestigious Kuala Lumpur City Centre. The location is easily accessible, having two existing Light Rail Transit (LRT) stations and two upcoming My Rapid Transit (MRT) stations nearby, which will be connected by a covered link bridge from Sunway Velocity. The integration of these complementing elements will provide urbanites with a vibrant and sustainable integrated development with well-planned features, catering to today’s modern lifestyle.

With a total Gross Development Value (GDV) of RM3.6 billion and estimated to be fully completed in year 2018, Sunway Velocity will comprise of retail shops; office suites; service apartments, a proposed business hotel, an over 1 million sq. ft. lifestyle shopping mall and more than 6,500 covered parking bays.

The entire concept of Sunway Velocity was designed to allow residents to experience a contemporary lifestyle where they can live, work, shop and eat in one destination. This is made possible as retail and commercial spaces have been designed to integrate harmoniously together, easily accessible by the residents and working individuals in Sunway Velocity.

The upcoming launch would be for the second tower of the Service Residence, which is now open for registration.

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Tags: Asia Pacific Property Awards, Sunway Berhad, Sunway Velocity


Posted Date: May 10, 2013 12:00 AM, By:
Sarena Cheah and Ong Pang Yen Appointed as Joint MD(s) of Sunway's Property Development Division

Sunway Berhad is pleased to announce the appointments of Sarena Cheah and Ong Pang Yen as Joint Managing Directors of its Property Development Division for the Malaysia and Singapore region, effective 1stMay, 2013. Cheah and Ong are the successors of Ho Hon Sang, the current Managing Director of Property Development Division who is leaving end of May.

Sarena Cheah and Ong Pang Yen’s 35 years of joint experience in Property and other divisions within Sunway are strategically well positioned to propel the conglomerate’s Property division to the next level. Especially in light of Sunway Iskandar, the second largest land parcel in the Iskandar region totaling 1800 acres which will drive exponential growth for Sunway for the next 15-20 years.     

Sarena Cheah has been a Board member of Sunway Berhad since 2010. She brings to this position 15 years of experience in strategy, corporate planning and development roles in various industries including Corporate Finance, Audit, Education, Healthcare and Property. Previously in the property division from 2006 to 2009, she was the Senior General Manager for Sales & Marketing and the Director of Property Division. Sarena is also the Executive Director of Strategy & Corporate Development of Sunway Berhad.

Ong Pang Yen has 20 years of experience in managing several divisions within Sunway including being actively involved in Sunway Group’s pioneer overseas investment projects in Cambodia, Zimbabwe, South Africa, Australia, India and China. Having led the Ipoh property division and overseas investment projects for Sunway and various other roles in the Group, in 2010, he was promoted to Chief Operating Officer – Property Development, International prior to assuming the role of Managing Director of International Property Development Division in April 2012.

Sunway Berhad has immense experience in developing and managing innovative and quality residential and non-residential properties which include retail, leisure, healthcare, hospitality and commercial assets. To date it has an extensive portfolio with successful properties in Malaysia and abroad, including China, India, Australia, Vietnam, and Singapore. Recipient of numerous international and domestic awards and accolades, to date Sunway has delivered more than 20,000 properties and has an undeveloped land bank of approximately 3,861 acres with an estimated Gross Development Value (GDV) of RM54 Billion.

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Posted Date: May 02, 2013 12:00 AM, By:
Third Putra Brand Awards Win for Sunway Berhad

PETALING JAYA: Sunway Berhad was a winner at the 2013 Putra Brand Awards, scoring a Silver in the Property Development category. This is its third, after being accorded the honour at the previous 2010 and 2011 events.

Organised by the Association of Accredited Advertising Agents of Malaysia (4As) and endorsed by Matrade, the Putra Brand Awards is a recognition and brand valuation exercise to not only recognize public-listed companies but also local brands and SMEs that are near and dear to the hearts of Malaysians. 6,000 consumers took part in the brand survey to nominate brands with outstanding performance. Sunway’s success at the event is a testimony of consumers’ trust in the home grown brand.

Sunway Berhad’s Executive Director of Strategic and Corporate Development, Sarena Cheah, who received the award, said, “We have always benchmarked ourselves with the best in the industries and strives to be a community builder that delivers products and services which enrich people’s lives in many ways. This award reflects our service commitment and a testament that we are very much trusted by consumers and stakeholders."

Sarena Cheah also said that Sunway will continue to be the exemplary Malaysian corporation with high quality service to meet both local and international expectations.

"We are blessed to have the right talents to help elevate Sunway to where it is today. Their commitment towards excellence and passionate drive to be part of its success has not only benefited Sunway and its employees, but also the communities we operate within," said Cheah.

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Tags: Putra Brand Awards, Sunway Berhad


Posted Date: April 18, 2013 12:00 AM, By:
Sunway Property Show 2013 Sold RM60 Million Properties Within 3 Days

The Sunway Property Show, held for the third time at Sunway Pyramid, had sold an estimated RM 60 million worth of properties on its short three day run. Held from 12-14 of April, the showcase featured Sunway’s new properties not only in the Klang Valley but also in Ipoh, Penang and the high-growth Iskandar Malaysia.

Sunway had featured, in total, 21 of their projects. Projects in the Klang Valley includes Sunway South Quay’s  Sunway Geo, Bayrocks, La Costa, and A’marine, Sunway Velocity, Sunway Alam Suria, Sunway Montana, Sunway Rydgeway, Sunway Nexis, Sunway Rymba Hills, Sunway Eastwood, Sunway Vivaldi and Sunway Palazzio. The magnificent Lakeside Mansions and MontBleu Residence in Ipoh were also featured along with the brand new Sunway Cassia and Sunway Wellesley projects in Penang.

An estimated 70 percent of the featured projects were properties with excellent accessibility and connectivity such as Sunway Geo and Sunway Velocity while the rest of the 30 percent of the properties boast superior green features, such as Sunway Montana and Sunway Rymba Hills which are complemented with acres of private forests for the enjoyment of their residents.

The success of this property show replicates the recent achievement earlier in February, when Chinese New Year open houses held in Klang Valley and Ipoh sales galleries recorded RM60 million worth of sales.  In less than 3 months, Sunway has successfully sold more than RM 120 million of properties at two property events.  The sales value is 75% more than the previous SIP Show held in May 2012.

In addition to the properties featured, a line-up of entertaining and informative activities were planned for guests. Feng Shui master, Joey Yap shared interesting tips on ‘Water Feng Shui For Wealth’ and conducted complimentary destiny readings for eager homebuyers and guests while famed property mapmaker and trend spotter, Ho Chin Soon shared his thoughts on the latest ‘Updates on Property Hotspots’. Amir Mahmood Razak, Director of Strategic Communications & PR at MRT Corporation elaborated on how the MRT will create a positive impact on property prices.

Besides the information shared by the speakers, the buyers enjoyed special financial packages such as DIBS, free legal fees and special rebates for buyers. A lucky buyer, Ms. Jagajothi A/P Bangaraiyah even won a 6-Day 4-Night trip to Korea.

Joyce Sin, Senior General Manager of Marketing & Sales , Property Development Division, Sunway Berhad, attributed the success of the property show to the unique selection of properties which were included.

“Our hottest properties were showcased and the crowd’s favourite were Sunway Geo, which is a mixed development built on Sunway South Quay’s final parcel of land. Another hot property was Sunway Velocity, Cheras’ transformative development with a Gross Development Value (GDV) of RM3.6 billion,” Joyce added.

Sunway Geo is a brand new integrated development, comprising retail shops, flexi suites and residences which is surrounded by Sunway Resort City’s award-winning 7 million sq ft of facilities. The development is currently on the radar of both investors and owners as it will be serviced by Malaysia’s first elevated bus rapid transit (BRT), a gamechanger that will revolutionise the connectivity and accessibility to Sunway Resort City (SRC). The BRT-Sunway Line connects SRC to the new LRT and existing KTM stations, making it a City with absolute connectivity and absolute accessibility.

The freehold, 23 acre development of Sunway Velocity is an integrated mixed development which has been marked to be the next hotspot in the Greater Kuala Lumpur area. Located a mere 3.8 km from the city centre, the development integrates shopping mall, retail, office, residence and hospitality components in a highly strategic location that is serviced by two light rail transit  (LRT) and two mass rapid transit (MRT) stations. Sunway Velocity, since its first launch in 2011, had enjoyed brisk sales, with 100% of its non-Bumiputra units being snapped up.

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Tags: Sunway Berhad, Sunway Property Show 2013


Posted Date: April 10, 2013 12:00 AM, By:
Sunway Property Show Returns for 2013
The Sunway Property Show is back with more exciting new properties and offers for homeowners and investors. The event will be held from 12 to 14 April, from 10am to 10pm in LG2, Blue Concourse of Sunway Pyramid. The showcase will feature Sunway’s new properties not only in the Klang Valley but also in Ipoh, Penang and the high-growth Iskandar Malaysia.

In addition to the property showcase, a line-up of entertaining and informative activities has been planned for visitors. On Saturday, 13 April, feng shui master, Joey Yap will be sharing on ‘Water Feng Shui for Wealth’ while famed property mapmaker and trend-spotter, Ho Chin Soon will be sharing his thoughts on the latest ‘Updates on Property Hotspots’. Additionally, attendees will find out how the MRT will create a positive impact on property prices.

Buyers will be able to enjoy special financial packages during the Show such as DIBS, free legal fees, free SPA and special rebates for buyers. They also stand a chance to win a 6-day 4-night trip to Korea.

Ho Hon Sang, Managing Director, Property Development Division, Sunway Berhad and Joyce Sin, Senior General Manager of Sales and Marketing, Property Development Division, Sunway Berhad, will be present at the Sunway Property Show 2013 to brief the media on this year’s hottest Sunway properties.

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Tags: Sunway Berhad, Sunway Property Show 2013


Posted Date: December 08, 2012 12:00 AM, By:
Sunway Bhd consortium wins tender for $394 mln Singapore land parcel
A consortium involving Malaysian property developer Sunway Berhad won a bid to develop a land in Singapore worth 1.2 billion ringgit ($393.83 million), the firm said in a stock exchange filing on Friday.

A unit of Sunway Berhad, Sunway Developments PTE Ltd, together with Hoi Hup Realty Pte Ltd and Hoi Hup JV Development submitted the winning tender to Singapore's Urban Redevelopment Authority to develop a land parcel in the city state.

Located on the outskirts of the city centre, the land parcel has a 99-year lease term.

The project is expected to be completed in 5 years or earlier, starting from Dec 7, and will start contributing to parent Sunway Group's earnings from 2014 onwards, Sunway Bhd said.

- Reuters

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Tags: Hoi Hup JV Development, Hoi Hup Realty Pte Ltd, Singapore, Sunway Berhad, Sunway Developments PTE Ltd


Posted Date: August 22, 2011 12:00 AM
Sunway mulls over India township project
The enlarged Sunway Bhd, with total assets of RM7 billion and a market capitalisation of over RM3.5 billion, has been offered a sizeable piece of land in India for a possible township development.

Sunway group founder and chairman Tan Sri Jeffrey Cheah said the development will be in one of India's "major cities".

He, however, declined to disclose more details because no agreement has been finalised.

"But we are looking at the offer seriously," Cheah told Business Times.

Such offers from foreign property players are not uncommon for Sunway, he said, attributing it to his success in developing a piece of derelict mining land into a thriving township, that is Bandar Sunway.

In a recent interview, Cheah said while India is a country with vast opportunities for the Sunway group, moving forward, it will be Singapore and China that it would like to focus on.

"We expect some 30 to 40 per cent from our bottomline to come from China and Singapore by 2015," he said, adding that despite the size of Singapore, Sunway still finds a lot of opportunities in the island.

"Also in Singapore, we learn a lot because they are technologically advanced in many ways."

While in China, the group has signed a collaboration agreement to participate in the development of Tianjin Eco-City with master developer Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd for a RM5 billion gross development value (GDV) project in Tianjin Binhai New Area.

Sunway was chosen to be the only Malaysian developer with other top regional developers, which include among others Singapore's Keppel Land, Taiwan's Farglory Group and Japan's Mitsui Fudosan.

Cheah said in expanding to the region, the group will continue to identify places with high growth in their population and per capita income, and build strong relationships with local partners.

He said the group will definitely leverage on its bigger and stronger merged group to replicate its success here, overseas.

Sunway Bhd, to be listed on Bursa Malaysia tomorrow, will be one of the largest property-construction players with total assets of RM7 billion and a landbank of 880ha with total gross development value (GDV) of RM25 billion and a market capitalisation of over RM3.5 billion. - Business Times

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Tags: Sunway Berhad


Posted Date: August 16, 2011 12:00 AM
Sunway: No plans to postpone listing
The listing of Sunway Bhd, the merged entity of Sunway Holdings Bhd and Sunway City Bhd, will proceed as planned despite recent turbulence in the stock market.

The shares of Sunway Bhd are scheduled to be floated on Bursa Malaysia on August 23 and expected to have a market capitalisation of over RM3.5 billion.

"We have no intentions to defer the listing," Sunway Bhd's executive director, group strategy and corporate development Sarena Cheah said.

She was responding to a Business Times question on whether there was a likelihood of a possible postponement of the listing given the current volatile market conditions.

The FTSE Bursa Malaysia Kuala Lumpur Composite Index seesawed last week after taking its lead from the US market which swung widely on concerns of the health of the world's largest economy.

Founder and chairman of the Sunway group, Tan Sri Jeffrey Cheah, decided to merge two of the listed units to create an enlarged entity with higher liquidity. This is a RM4.5 billion merger exercise involving cash and share swap.

Sunway Bhd will have two core businesses in property development and construction, with a total landbank of more than 891 ha.

The combined landbank will have a total gross development value of RM25 billion and a potential market capitalisation of over RM3.5 billion.

Shares of Sunway Holdings and SunCity have been suspended since August 2 to facilitate the capital reduction and repayment , as part of the merger exercise. – Business Times

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Tags: Sunway Berhad


Posted Date: July 01, 2011 12:00 AM
Sunway may list in Aug
The listing of Sunway Bhd could be as early as August 18 2011, its founder and executive chairman Tan Sri Dr Jeffery Cheah said.

It is awaiting court approvals for a capital reduction and repayment exercise, after which the prospectus will be issued. – Business Times

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Posted Date: June 17, 2011 12:00 AM
Shareholders’ nod paves way for Sunway merger
The shareholders of Sunway Holdings Berhad (“Sunway Holdings”) and Sunway City Berhad (“Sunway City”) approved the proposed disposal of their assets and liabilities to Sunway Berhad (“Sunway”) Wednesday, paving the way for the merger of the two companies.

"The larger combined Sunway provides an opportunity to re-articulate the “Sunway” brand and renew investors’ interest in Sunway shares,” said founder and chairman of Sunway Berhad Tan Sri Dr Jeffrey Cheah.

He said the enlarged Sunway will be in a better position to tap the equity and debt capital markets more cost-effectively as the group moves forward to bid for more business opportunities.

“In addition, we expect to reap synergistic benefits through operational, procurement and administrative efficiencies from the merger integration and economies of scale”, he added.

Sunway Berhad will be one of the largest property-construction players, with strong presence in the region.

The group will have a combined land bank of more than 2,200 acres with a total gross development value (“GDV”) of approximately RM25 billion, and a potential market capitalisation of over RM 3.5 billion, which will serve as a platform for continuous sustainable growth.

The sizeable landbank will provide Sunway with the opportunities to develop a variety of products catering to all segments, from the mass market to the very niche, luxury condominiums.

Focusing on a two-core business strategy, Sunway will seek to maximise its full potential by forging a deeper collaboration between the integrated property development and construction divisions.

The merged group will be helmed by Tan Sri Dr Jeffrey Cheah as its chairman, while Razman Hashim will be appointed as the deputy chairman of Sunway Berhad.

Leading the management and operations, Chew Chee Kin is expected to be appointed as the chief executive officer of Sunway Berhad.

Following Wednesday’s EGMs, Sunway Holdings and Sunway City will seek court approvals for a capital reduction and repayment exercise, after which the Sunway Berhad prospectus will be issued.

Sunway Berhad is targeted to list on Bursa Malaysia in the third quarter of 2011.

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Tags: Sunway Berhad, Sunway City Berhad, Sunway Holdings Berhad


Posted Date: June 17, 2011 12:00 AM
Sunway plans teaching hospital near medical centre
Sunway Bhd, a new entity following a merger between Sunway Holdings Bhd and Sunway City Bhd, plans to build a teaching hospital in the Sunway Integrated Resort City.

Founder and chairman Tan Sri Jeffrey Cheah said the teaching hospital would function as the hands-on and practical platform for Sunway University and Monash University medical students.

"We are now developing the business model and if the plan materialises, we would build the academy on a seven-acre land owned by Sunway, close to the Sunway Medical Centre," he said after the extraordinary general meetings of Sunway Holdings Bhd and Sunway City Bhd.

He said that since the running cost of an teaching hospital was very expensive, Sunway would be very careful in every steps it would take in this project.

The proposed project was expected to increase the share value of the new Sunway, he said.

Sunway is expected to list on the Main Board of Bursa Malaysia in the third quarter of 2011 after shareholders both Sunway Holdings and Sunway City approved their merger Wednesday. - Bernama

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Tags: Sunway Berhad, Sunway Integrated Resort City



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