Sunway's construction orderbook to pass RM3b mark, says OSK

KUALA LUMPUR: Sunway Bhd's construction orderbook is expected to pass the RM3 billion mark, due to the latest RM308.9 million contract won from Iskandar Malaysia Studios SB.

The development, namely Pinewood Iskandar Malaysia Studios, is targeted to be completed on or by May 10, 2013, over a construction period of 19 months, OSK Research Sdn Bhd said in a statement on Wednesday, Oct 12.

"We view this latest development positively as it demonstrates Sunway's immaculate track record in being able to secure consecutive jobs from existing and repeat clients," it said.

OSK Research has maintained its forecast and "buy" recommendation on Sunway at an unchanged fair value of RM3.31, based on a 20 per cent discount on it realisable net asset value. — Bernama