KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Sunway Developments Pte Ltd (SDPL) – a wholly-owned subsidiary of Sunway Berhad – and Sing Holdings Residential Pte Ltd (SHRPL) have successfully secured a prime residential land parcel at Chuan Grove for S$703.6 million (~RM2.33 billion).
📍 Site Details:
Location: Chuan Grove, near Lorong Chuan MRT station
Size: 15,831.5 sqm (~3.91 acres)
Lease Tenure: 99 years
First Government Land Sales (GLS) site in Chuan Grove since 2009
Joint Venture Structure
| Partner | Equity Share |
|---|---|
| Sing Holdings Residential (SHRPL) | 65% |
| Sunway Developments (SDPL) | 35% |
A JV company will be formed to undertake development of the "Proposed Project."
Why It Matters
Prime Location: Close to public transport, schools, and urban amenities
Strong Demand: Tender attracted multiple bidders – signals market confidence
Earnings Impact: Project expected to contribute to Sunway’s earnings from FY2026 onwards
Risk Factors & Mitigation
While acknowledging typical property development risks – such as:
Fluctuations in raw material prices
Interest rate changes
Property market cycles
Sunway is confident that these can be mitigated by the JV’s combined experience in Singapore’s competitive real estate market.
No directors, major shareholders, or connected parties have interests in the project.
Market Reaction
SUNWAY (5211.MY)
Last price: RM5.04
Change: +1.00%
Date: July 18, 2025
Investor Takeaway
This high-profile land acquisition marks Sunway’s continued expansion into the premium Singapore property market, in collaboration with a trusted local developer. The JV structure allows Sunway to tap into regional opportunities with mitigated exposure, and the project may offer earnings upside from 2026 onward.
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