Sunway Construction's FY2024 Net Profit Surges To RM186.9 Mln On Strong Project Progress

KUALA LUMPUR, Feb 20 (Bernama) -- Sunway Construction Group Bhd (SunCon) recorded a higher net profit of RM186.91 million for the financial year ended Dec 31, 2024 (FY2024), up from RM145.11 million a year ago.

SunCon said in a filing with Bursa Malaysia today that the strong earnings growth was driven by the accelerated progress in the RTS Link Project, increased contributions from data centre developments, and the Sunway Square project.

Revenue increased to RM3.52 billion from RM2.67 billion previously.

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For the fourth quarter (4Q) of FY2024, the company posted an increased net profit of RM69.16 million, compared to RM49.26 million in the same period of FY2023.

“The financial performance was bolstered by strong contributions from the construction segment,” the company said. 

The company further said it achieved an order book replenishment of RM4.2 billion in 2024, in line with its target range of RM4 billion to RM5 billion.

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“For the year ahead, the group has set a target of order book replenishment of RM4.5 billion to RM6.0 billion,” the company said.

SunCon managing director Liew Kok Wing said the company’s strategic focus on advanced technology facilities, particularly data centre projects, has played a key role in driving revenue growth.

“Malaysia continues to harness its aspiration to become a regional data centre hub. Sunway Construction’s tender pipeline in the advanced technology facilities domain remains strong, coupled with the expected acceleration in progress on existing projects, providing earnings visibility for FY2025.

”In addition, the company is positive about government-led initiatives outlined in the federal Budget 2025, namely, the Penang Light Rail Transit and Penang International Airport expansion,” he said. 

-- BERNAMA