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Wednesday, March 20, 2013

Sunway wins RM304mil carpark project


PETALING JAYA: Sunway Bhd has been awarded a RM304mil contract from Cititower Sdn Bhd to construct and complete the North East Car Park located underneath KLCC Park.
In its filing with Bursa Malaysia yesterday, Sunway said the contract, which was given to Sunway Holdings' wholly owned unit Sunway Construction Sdn Bhd, would also include the associated works for the proposed Lot 185, Lot 167(K) and Lot 176 mixed development at Persiaran KLCC.
Cititower is a joint-venture company between KLCC (Holdings) Sdn Bhdand QD Asia Pasific Ltd.
Works for the Persiaran KLCC project will include excavation works, construction and installation of diaphragm wall, foundation and piling works, construction of six levels of basement car park and other associated works.
The project is expected to start once possession of the site has been handed over, with a construction period of 178 weeks thereafter. Sunway expects the project to contribute to earnings from the financial year ending Dec 31, 2013 onwards.
“The proposed project is subject to normal construction risk of materials price fluctuation. However, with the past experience and expertise of Sunway Construction in construction projects in Malaysia, this risk could be mitigated,” it said.
This was the second major project won by Sunway Construction this month. Last week, it clinched a RM452.5mil project from Syarikat Prasarana Negara.

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