Sunway City Kuala Lumpur,19 February 2025
Sunway City Kuala Lumpur, 19 February 2025 — Sunway Construction Group Berhad (“Sunway Construction or Group”) is pleased to announce its financial results for the fourth quarter ended 31 December 2024 (“Q4 FY2024”).
Sunway Construction recorded a record-high financial performance in FY2024 since its initial public offering (“IPO”) in 2015. The Group recorded revenue and profit before tax (“PBT”) of RM3.5 billion and RM273.0 million respectively. The stellar performance was underpinned by the acceleration in the RTS Link Project, several data centre projects as well as in-house Sunway Square development.
For the quarter ended 31 December 2024, Sunway Construction’s revenue soared 61% to RM1.4 billion. PBT surged 82% to RM110.6 million in Q4 FY2024, from RM60.7 million in the same quarter in the preceding year. The financial performance was bolstered by strong contributions from the construction segment.
The Construction segment recorded revenue of RM1.35 billion in Q4 FY2024, a 72% leap from RM785.8 million in the corresponding quarter last year. PBT doubled to RM107.2 million in the quarter, compared to RM53.0 million in Q4 FY2023. The strong revenue and PBT growth were driven by the accelerated progress in RTS Link Project and several data centre projects during the quarter.
The Precast segment registered revenue of RM46.4 million for the quarter under review, from RM85.7 million in the same quarter in the previous year. Its PBT stood at RM3.4 million for the current quarter, compared to RM7.7 million in Q4 FY2023. Projects at the final stages of completion had contributed to higher revenue and PBT in the same quarter in the preceding year.
The Group declared a single-tier third interim dividend of 2.50 sen per ordinary share for the financial year ended 31 December 2024. This brings the total dividend for FY2024 to an all-time high dividend of 8.5 sen since its IPO in 2015.
Sunway Construction achieved an order book replenishment of RM4.2 billion in 2024, which was within its target range of RM4 billion to RM5 billion. For the year ahead, the Group has set a target of order book replenishment of RM4.5 billion to RM6.0 billion.
Sunway Construction Group Managing Director Liew Kok Wing commented, “We are pleased to achieve another record-high profit in FY2024, building on last year’s achievement and robust outstanding order book. The Group strategically shifted its focus to Advanced Technology Facilities three years ago to capitalise on the growing investment in data-centres in Malaysia. Today, the result of this strategic move underscores the Group’s growth trajectory.”
He elaborated, “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 Group is positive about government-led initiatives outlined in the Federal Budget 2025, namely, the Penang Light Rail Transit (“LRT”) and Penang International Airport Expansion.”
He added, “Meanwhile, Sunway Construction continues to support its parent company, Sunway Berhad, in tendering for both external mixed-use development projects and in-house projects in the pipeline, particularly special-purpose buildings.”
He concluded, “The Group is optimistic of registering positive growth in FY2025, supported by its robust existing outstanding order book of RM5.8 billion as of 31 December 2024.”