SunCon said in a stock exchange filing on Wednesday that its wholly owned subsidiary had received a letter of award from a US-headquartered multinational technology corporation for RM920.8 million worth of additional mechanical, electrical and plumbing (MEP) fit-out works for an ongoing data center development in Johor.
It announced in another filing the following day that the unit had also landed a RM1.74 billion agreement with an international hyperscaler to build a hyperscale data center in Serendah, Selangor, The Star reported.
Work on the Johor job began with the letter of award and is expected to be completed in the first quarter of 2028.
Construction of the Selangor facility, including its core and shell structures, campus infrastructure and MEP fit-out, is scheduled to commence in the fourth quarter of 2026 and wrap up in four years.
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Sunway Group’s logo is seen on its headquarters in Malaysia. Photo from the company’s website |
The contracts bring SunCon’s tally of data center-related contracts secured this year to seven, lifting its year-to-date new orders to RM9.8 billion and its outstanding order book to RM13.4 billion, according to The Edge Malaysia.
For the second quarter ended June 30, SunCon posted 23.5% year-on-year jump in net profit to RM103.59 million, supported by improved profit margins across its operating segments. But revenue fell 31.1% to RM1.02 billion mostly due to lower construction revenue.
SunCon shares closed 0.91% higher at RM7.75 on Thursday, taking their gains so far this year to about 36% and giving the company a market capitalization of RM10.3 billion.
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Jeffrey Cheah, Sunway Group’s founder and chairman. Photo from Facebook/Sunway Group |
The firm is one of four listed businesses under Sunway Group, which Cheah founded as a tin-mining company and transformed into a diversified conglomerate with interests in construction, real estate, healthcare, education and infrastructure.
Forbes ranked Cheah eighth on its list of the richest people in Malaysia earlier this year. His net worth is estimated at $4.2 billion, according to the magazine’s real-time data.