KUALA LUMPUR: Sunway Construction Group Bhd (SunCon) has secured an RM174.5mil contract from Sunway Iskandar Sdn Bhd for the construction of houses in Pulai, Johor Baru.
In a filing with Bursa Malaysia, SunCon said the contract was in relation to the main building works for the proposed strata development on Plot F27 to construct 222 units of linked houses, cluster homes and semi-detached houses in two phases on part of the land held under PTD 199240 in Pulai.
The project is is due for completion by Dec 31, 2017, and is expected to contribute positively to the SunCon group’s earnings from the financial year ending Dec 31 onwards.
SunCon added that the project was a related-party transaction by virtue of Evan Cheah Yean Shin being a director and major shareholder of SunCon, as well as a director of several subsidiaries and the major shareholder of Sunway.
Tan Sri Dr Jeffrey Cheah Fook Ling, Puan Sri Susan Cheah Seok Cheng, Sarena Cheah Yean Tih, Sungei Way Corp Sdn Bhd and Active Equity Sdn Bhd are major shareholders of both SunCon and Sunway.
