Sunway Construction has accepted a Letter of Intent issued by K2 Strategic Infrastructure Malaysia Sdn Bhd ( a company linked to Robert Kuok) for the proposed development of a Data Centre in Johor, Malaysia
According to the terms of the LOI, the estimated total contract sum for the project is approximately RM190 million and is for a period of approximately 14 months. It is to be completed in phases with the final phase to be completed by the fourth quarter of 2024
Sunway does not expect any issues in fulfilling the project order, the project is subject to the normal construction risk of material price fluctuations. However, with the past experience and expertise of the group in construction projects, these risks could be mitigated.
However, barring any unforeseen circumstances, the Project is expected to contribute positively to the earnings of SunCon Group for the financial year ending 31 December 2023 onwards.
