Sunway Construction secures RM1.18bn engineering job from US tech firm

Sunway Construction (SunCon) has landed a RM1.18 billion (S$257 million) engineering contract from a US multinational technology company. Work begins immediately and is set for completion by March 2028. The client and project locations were not disclosed.

Sunway Construction (SunCon) has secured a RM1.18 billion (S$257 million) engineering contract from a US multinational technology firm, the group announced in a Friday stock exchange filing. The works, comprising two projects, are to begin immediately and be completed by March 2028. The client’s name and the projects’ location were not disclosed.

“As at the date of this announcement, SunCon Group has secured RM6.85 billion worth of new orders during the current financial year, including the abovementioned works,” SunCon said in the filing. The latest job follows a RM1.02 billion engineering contract for a data centre project in Johor secured earlier this month, as well as RM664.4 million in additional contracts secured in June for two data centre-related substation projects in the same state, according to local media reports.

So far this year, SunCon’s shares have gained 38.84 per cent, putting the firm’s market capitalisation at RM10.5 billion based on Friday’s close. SunCon is one of several listed businesses under Sunway Group, which Malaysian tycoon Jeffrey Cheah founded and transformed from a tin-mining company into a diversified conglomerate with interests in construction, real estate, healthcare, education and infrastructure.

Forbes ranked Cheah as Malaysia’s eighth richest man earlier this year. His current net worth is estimated at US$4.9 billion, according to the magazine’s real-time data.