In a Bursa Malaysia filing on Thursday (May 26), the group also announced its highest quarterly revenue ever after it increased by 11.88% to RM300.59 million from RM268.67 million a year earlier, underpinned by progress in construction work activities.

Speaking at the launch, Sunway Property chief brand and marketing officer Gerard Yuen said that the programme was developed and designed as part of Sunway Property's holistic plan to build Future Forward Cities that are sustainable for both the current and future generations.

This resulted in a higher earnings per share of 1.13 sen for 1QFY22 compared with 0.8 sen for 1QFY21, the company’s bourse filing on Thursday (May 26) showed. 

He said in a virtual briefing that the hike in construction cost is something that he has expected, and that it has no impact on the group's components this year.

Earnings per share rose to 2.68 sen from 1.57 sen last year, according to the construction firm’s bourse filing. Revenue grew 37.23% to RM624.66 million from RM455.2 million, on improved contributions from both its construction and precast businesses. No dividend was declared.

The improved revenue — an increase of 64.8% to RM416.45 million, from RM252.69 million previously — was also due to higher progress billings and construction progress from local developments, its bourse filing showed.

However, quarterly revenue in 3QFY22 grew 27.44% to RM737.79 million from RM578.95 million in 3QFY21 mainly attributable to better performance contributed from all business segments.

The property developer’s quarterly revenue slipped 7.16% to RM223.3 million in 1QFY22 from RM240.53 million a year ago, mainly attributed to lower progress billings across its key projects in the Klang Valley and Southern Region of Malaysia compared with 1QFY21, according to a bourse filing on Wednesday (May 25).

“I guess we will be profitable, we will grow, but our profitability may be affected if we do not solve the issues (of higher building material costs and labour shortage),” its managing director Datuk Azmir Merican said in a virtual press briefing on Wednesday (May 25).

Noteworthy:

• Freehold

• Built-up: 4,000 sq ft 

• Land area: 7,922 sq ft

• Unfurnished

• Five bedroom, four bathroom

• Amenities: Primary and secondary schools, MBPJ Hockey Stadium, Arena Rakan Muda, Taman Jaya Lake, mosques, churches and temples, Amcorp Mall, Mid Valley Megamall, The Gardens, Bangsar Village shopping mall

• Accessibility: Federal Highway, New Pantai Expressway (NPE), Jalan Templer, Petaling KTM station

When: March 2022