SunCon 2Q net profit at RM32mil declares 3 sen dividend

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Sunway Construction Group Bhd group managing director Liew Kok Wing

KUALA LUMPUR: Sunway Construction Group Bhd’s (SunCon), which posted a net profit of RM32.3mil in the second quarter ended June 30 (2Q), has declared a first interim single-tier cash dividend of 3.00 sen per share.

The interim dividend amounted to RM38.68mil would be paid on Sept 29. It represented 57% of the group’s profit after tax and minority interests (PATMI) in the first half of 2022.

Its revenue rose 48.7% year-on-year (y-o-y) to RM557.9mil in 2Q from RM375.3mil previously.

"The improved financial performance was due to low base and higher revenue from all segments,” it said in a statement.

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Group managing director Liew Kok Wing said the group is cautiously optimistic of registering positive growth in 2022 supported by its strong existing outstanding order book.

The group has an outstanding order book of RM4.2bil and an active tender book of RM17.4bil as at June 30.

“The outlook for the construction industry is improving as the economy transitions into the endemic phase. The rollout of mega infrastructure projects augurs well for the construction industry.

“In addition, rapid growth in e-commerce, cloud computing and microchips industries lead to higher demand for semiconductor manufacturing plants and facilities, e-commerce and logistics warehouses and data centres,” Liew said.

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