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Monday, June 27, 2016

SunCon bags RM66.3m M&E project at UKM

SunCon bags RM66.3m M&E project at UKM
By Gho Chee Yuan / theedgemarkets.com | June 27, 2016 : 6:59 PM MYT

KUALA LUMPUR (June 27): Sunway Construction Group Bhd (SunCon) has bagged a RM66.3 million contract to provide electrical services, and air conditioning and mechanical ventilation system (including a cold room) for the Children's Specialist Hospital at University Kebangsaan Malaysia in Cheras here under a public-private partnership agreement.

In a filing with Bursa Malaysia today, SunCon said its indirect subsidiary Sunway Engineering Sdn Bhd (SESB) has accepted the letter of award issued by Zecon Medicare Sdn Bhd for the project.

The project will be completed on April 30, 2018.

"The project is expected to contribute positively to the earnings of the group from the financial year ending Dec 31, 2016 onwards," said SunCon.

"The project is subject to normal construction risk of materials price fluctuation. However, with the past experiences and expertise of SESB in mechanical and engineering (M&E) projects, this risk could be mitigated," it added.

SunCon's shares closed unchanged at RM1.55 today, for a market capitalisation of RM2 billion.

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