PETALING JAYA: Sunway Bhd is aiming to add at least RM1.5bil in new contruction projects by the end of the year, as the company drums up support ahead of Sunway Construction Bhd’s prospectus launch next Monday.
A Reuters report said the initial public offer (IPO) had an indicative price range of between RM1.15 and RM1.20 a share, valuing the IPO at RM498mil on the top end.
“We are confident of sustaining these figures to add to our present order book of RM2.8bil. We are still working on a few prospects. An order book of RM4bil will sustain us for two years,” said Sunway chief financial officer Chong Chang Choong.
The outlook of the sector remained strong on the back of large government infrastructure projects under the Economic Transformation Programme and those announced in the Budget 2015.
Chong told reporters this after the company’s AGM yesterday that it also targeted to grow its property business.
“Our unbilled sales are about RM2.5bil while the total gross development value for the group is RM5.7bil for both existing and ongoing property development projects.
“The average take-up rate to date is more than 70%,” he added.
Chong also said the current consolidation in the property industry locally presented a “good opportunity” for developers to expand their landbank.
“It is good to do this when the market is softer as expectations will not be so high. We are always on the lookout for opportunities to expand our landbank,” he said.
On the company’s prospects, Chong was cautiously optimistic and hoped to deliver a set of satisfactory results for FY15. “We always strive to register a (profit) growth of at least 5%-10% every year. But over the last few years, we have always outperformed this target,” he said.
For more information on
Building and Construction event, please visit www.asiapacificevents.com
No comments:
Post a Comment