Sunway Berhad announced its second quarter financial results with revenue increasing 14.7% to RM1.46 billion underpinned by higher contributions from most of its business segments. The Group recorded a profit before tax of RM203 million
in this quarter compared to PBT of RM205.3 million in the corresponding quarter of the preceding year, which included RM26.6 million gain from the disposal of one of the Group’s start-up investments.
The property development profit from two of the Group’s on-going property development projects in Singapore will only be recognised upon completion and handover of the projects, in Q3 FY2023 and by the end of Q1 FY2024 respectively. As at end-June 2023, the accumulated progressive profits related to these projects amounted to RM131 million.
The Group declared a single-tier first interim cash dividend of 2.00 sen per ordinary share and a preferential dividend of 5.25% per annum (based on the issue price of RM1.00) per irredeemable convertible preference share (“ICPS”) in respect of the financial period from 1 January 2023 to 30 June 2023.
