SunCon shares up 4.17% on Penang medical centre job

PETALING JAYA: Sunway Construction Group Bhd’s (SunCon) share price rose 4.17% this morning after the group was awarded a contract for the proposed development of Sunway Medical Centre in Penang for RM180 million.
At 11.14am, its share price was 4.17% or 9 sen higher at RM2.25 with 310,000 shares traded.
Yesterday, SunCon said it accepted the letter of award issued by Alliance Parade Sdn Bhd, an indirect wholly owned subsidiary of Sunway Bhd, which is a major shareholder of SunCon.
The award is for the first phase of the medical centre, which brings SunCon’s outstanding order book to RM6.3 billion.
The project commences today and is expected to be completed by Dec 15, 2020. The project is expected to contribute positively to the earnings of SunCon.