Sunway Construction Sdn Bhd Accepts the Letters of Intent Issued by Gbs Suria Sdn Bhd and Letter of Intent Issued by Sharp Ventures Solar Sdn Bhd
December 27, 2021 at 01:37 am EST
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The Board of Directors of SunCon announced that Sunway Construction Sdn Bhd ("SCSB") has on 27 December 2021, accepted the Letters of Intent in respect of the following projects:- (a) Letter of Intent issued by GBS Suria Sdn Bhd, a wholly-owned subsidiary of Gopeng Berhad, for the Design, Engineering, Procurement, Construction, Testing and Commissioning of Solar Photovoltaic Energy Generating Facility with Ancillary Equipment and Facilities with Generating Capacity of 50MW located at Lot 45547 GRN:124174 Mukim Teja, Daerah Kampar, Perak Darul Ridzuan (LSS4 Project 1), for a total contract sum of MYR 200,000,000 only. The LSS4 Project 1 shall be completed and achieve the commercial operation date by the scheduled commercial operation date on 31 December 2023 as required by Suruhanjaya Tenaga. (b) Letter of Intent issued by Sharp Ventures Solar Sdn Bhd for the Design, Engineering, Procurement, Construction, Testing and Commissioning of Solar Photovoltaic Energy Generating Facility with Ancillary Equipment and Facilities with Generating Capacity of 50MW located at part of the land known as GRN 47151, Lot 5495, Mukim Kapar, Daerah Klang, Selangor Darul Ehsan (LSS4 Project 2), for a total contract sum of MYR 185,000,000 only. The LSS4 Project 2 shall be completed and achieve the commercial operation date by the scheduled commercial operation date on 31 December 2023 as required by Suruhanjaya Tenaga. The LSS4 Project 1 and LSS4 Project 2 (collectively, the "LSS4 Projects") are expected to contribute positively to the earnings of SunCon Group for the financial year ending 31 December 2022. The total new projects awarded this year including the LSS4 Projects amounted to MYR 1.474 billion. The LSS4 Projects are subject to normal construction risk of material price fluctuation. However, with the past experience and expertise of SCSB in construction projects, this risk could be mitigated.
Sunway Construction Group Berhad is a Malaysia-based construction and engineering company. The Company operates through two segments: Construction and Precast concrete. Its Construction segment includes turnkey, construction related design and build, civil engineering, building works, geotechnical services and related products, hire of heavy machineries, mechanical and engineering works, sustainable energy, facade engineering and consultancy services, and transportation agent. Its Precast concrete segment includes construction engineering, sub-contracting works for precast fabrication, manufacturing and distribution of precast components and building materials. Its building construction projects include Daiso Global Distribution Center Warehouse, Sunway Flora Residences, Sunway Medical Centre, Sunway Medical Centre Damansara, and Sunway Velocity Two-Plot B, among others. Its geographical segments include Malaysia, Singapore, India, Trinidad & Tobago, United Arab Emirates and Myanmar.