30.01.2018 & 27.07.2018

Sunway Concrete Products (S) Pte Ltd, an indirect wholly-owned subsidiary of SunCon, has on 30 January 2018 entered into a Joint Venture Agreement (“JV Agreement”) with HL Building Materials Pte Ltd, a subsidiary of Hong Leong Asia Ltd.  Under the JV Agreement, a joint venture company has been established to tender for the lease of land in Singapore from the Building and Construction Authority ("BCA").

The joint venture company, HL-Sunway JV Pte Ltd has, on 27 July 2018, won the bid for the lease of land for the development of the Integrated Construction Fabrication Hub (“Plant”) from BCA. We have awarded the construction work of the Plant in November 2019. The Plant is expected to be in operation by 3rd quarter of 2022.

01.04.2019

Sunway Builders (Myanmar) Co Ltd, an indirect wholly-owned subsidiary of SunCon, had on 1 April 2019 entered into a Memorandum of Understanding with Capital Construction Limited to cooperate, collaborate and share expertise on infrastructure and construction projects in Myanmar.

Due to the recent military coup in Myanmar, we have decided to defer activities in this Country. We are in the midst of liquidating this company.

26.03.2020

Sunway Construction Sdn Bhd – RNS Infrastructure Limited (“Consortium”), a consortium formed by Sunway Construction Sdn Bhd (“SCSB”), a wholly-owned subsidiary of SunCon and RNS Infrastructure Limited, has on 26 March 2020 accepted a Letter of Award issued by the National Highways Authority of India, in respect of the following project for a total contract sum of Rs.864.51 Crore in addition to a 15-years operating and maintenance contract at Rs.7.08 Crore per annum:

"Four laning of Thorapalli Agraharam – Jittandahalli Section of NH-844 from Km 25.000 to Km 63.500 (existing Chainage) corresponding to Km 23.350 to Km 60.100 (Design Chainage) under Bharatmala Pariyojana Phase-I (National Corridor) on Hybrid Annuity Model in the State of Tamil Nadu (Package-II of Hosur Dharamapuri Section)" ("TJ Project").

The TJ Project will be operated under the Hybrid Annuity Model for a concession period of 15 years plus 2-years construction period. The construction for the TJ Project shall commence in October 2020 and is expected to be completed within 2 years. 

A joint venture company, Sunway RNS TJ Private Limited (“Sunway RNS TJ”), has been incorporated on 22 July 2020 by the Consortium to undertake the TJ Project.

 Concession agreement has been signed on 23 December 2020 and financial close for the TJ Project had been successfully completed on 20 May 2021.

09.06.2020

SCSB had on 9 June 2020 entered into a Memorandum of Understanding with ENGIE South East Asia Pte Ltd to record the parties’ intention to collaborate via a joint venture company to undertake, as a project owner and developer, engineering, financing, construction, operations and maintenance of district cooling system (brown field or green field) in Malaysia.

Both parties are going through the drafting of the joint venture agreement.

28.10.2020

Consortium, has on 28 October 2020 accepted a Letter of Award (“LOA”) issued by the National Highways Authority of India (“NHAI”), in respect of the following project for a total contract sum of Rs.553.83 Crore in addition to a 15-years operating and maintenance contract at Rs.1.50 Crore per annum:

"Two laning with Paved Shoulder of Meensurutti (Km. 98.433) to Chidambaram (Km. 129.965.) Section of NH-227 on Hybrid Annuity Mode under Bharatmala Pariyojana Phase-I (Residual Projects under NHDP) in the State of Tamil Nadu” (hereinafter referred to as the “MC Project”)

The MC Project will be operated under the Hybrid Annuity Model for a concession period of 15 years plus 2-years construction period. The construction for the MC Project is anticipated to commence within 195 days from the LOA. A Concession Agreement for the MC Project will be signed in due course.

A joint venture company, Sunway RNSIL MC Private Limited (“Sunway RNSIL MC”) has been incorporated on 13 November 2020 by the Consortium to undertake the MC Project.

Concession agreement has been signed on 11 December 2020 and financial close for the MC Project had been successfully completed on 10 May 2021.

Sunway RNSIL MC was informed by NHAI that the appointed date for the MC Project was on 9 August 2021.

Work has commenced.

28.10.2020

Sunway Engineering Sdn Bhd (“SESB”), an indirect wholly-owned subsidiary of SunCon, has on 28 October 2020 accepted the Letter of Award issued by Borneo Springs Sdn Bhd in respect of the contract for design, supply, deliver, install, commission and apply and secure SEDA Quota for Solar Photovoltaic System, for a total contract sum of RM1,292,185.00.

Work has commenced in the 3rd quarter of 2021.

SESB, has on 28 October 2020 accepted the Letter of Award issued by F&N Dairies Manufacturing Sdn Bhd in respect of the contract for design, supply, deliver, install, commission and apply and secure SEDA Quota for Solar Photovoltaic System, for a total contract sum of RM6,610,955.00.

Work has commenced in the 3rd quarter of 2021.

SESB, has on 28 October 2020 accepted the Letter of Award issued by F&N Beverages Manufacturing Sdn Bhd in respect of the contract for design, supply, deliver, install, commission and apply and secure SEDA Quota for Solar Photovoltaic System, for a total contract sum of RM10,206,005.00.

Work has commenced in the 3rd quarter of 2021.