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Market Daily Report: Buying In Consumer Stocks Helps Bursa Malaysia Close Slightly Higher

KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia’s key index finished marginally higher, supported by strong buying interest in consumer-related counters, amid mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.40 points, or 0.08 per cent, to 1,711.39 from Tuesday's close of 1,709.99.  The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.31 and 1,722.63 throughout the session. Market breadth was negative, with losers leading gainers 678 to 493, while 549 counters were unchanged, 1,016 untraded and 34 suspended. Turnover increased to 4.50 billion units worth RM3.45 billion from 3.93 billion units worth RM3.45 billion on Tuesday.
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Sunway, Sing Holdings JV Tops Bid for Chuan Grove Land Plot

Sunway Bhd (KL:SUNWAY) and Singapore-listed Sing Holdings Ltd have emerged as the top bidders for a second residential site in Chuan Grove, Singapore, with an offer of S$623.91 million (RM2.05 billion).

Key Developments

  • Bid details: The offer equates to S$1,331 per sq ft per plot ratio, 2.9% above the second-highest bid at the Sept 4 tender close.

  • Site capacity: The 156,000 sq ft parcel can accommodate about 505 homes.

  • JV structure: A 35:65 joint venture (Sunway: Sing Holdings) will be appointed as the developer, pending regulatory approvals.

  • URA approval: Singapore’s Urban Redevelopment Authority retains the right to reject the highest or any bid.

Expansion in Chuan Grove

  • This marks the second land win for the JV in Chuan Grove after securing an adjacent parcel in July.

  • The two sites will be amalgamated into a 1,055-unit integrated development across five blocks.

  • The project adds to Sunway’s Singapore pipeline of six projects, including The Continuum, Terra Hills, Novo Place, and the upcoming Tampines Street development.

Financial Outlook

  • Contribution timeline: Expected to add to Sunway’s earnings from 2027 onwards.

  • Gross development value (GDV): Estimated at S$1.31 billion, according to Hong Leong Investment Bank.

  • Profit impact: Based on a 10% net margin, Sunway’s share of profit could be ~RM37.9 million annually (2027–2030).

📌 Takeaway: Sunway is strengthening its presence in Singapore with back-to-back land wins in Chuan Grove, positioning for a large-scale integrated development. While earnings impact will only kick in from 2027, analysts see steady profit contributions over the project’s life cycle.

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