Tuesday, August 23, 2011

Sunway to use RM300m-RM400m for overseas expansion

KUALA LUMPUR: Sunway Bhd, an entity arising from the merger between SUNWAY HOLDINGS BHD [] and SUNWAY CITY BHD [], will utilise funds generated from the exercise for overseas expansion mainly in China, India and Singapore.

Its chairman Tan Sri Dr Jeffrey Cheah said the company would now have the opportunity to bid for more projects with higher value.

He said about RM300 -RM400 million would be utilised for its overseas expansion.

Sunway made a lackluster debut on Bursa Malaysia on Tuesday, Aug 23 and fell 26 sen to RM2.54 with 3.58 million shares done at 9.50am.


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