SunCity 2Q net profit surges 450% to RM170m

KUALA LUMPUR: Sunway City Bhd’s (SunCity) net profit for the second quarter (2Q) ended Dec 31, 2007, surged 450.4% to RM169.73 million from RM30.84 million a year earlier, mainly contributed by the property development and property investment segments and the fair value gain of RM315.7 million as a result of the revaluation of the Sunway Pyramid Shopping Mall. The company said the property development segment registered strong earnings from Sunway Damansara's shopoffice development and Sunway D'Mont Kiara's bungalow and high-end terrace link-house development while the property investment segment's was boosted by the opening of the expanded Sunway Pyramid Shopping Mall during the quarter. Read more>

(The Edge 20-2-2008)

Sunway City plans 3 more office towers

PROPERTY developer Sunway City Bhd plans to add three more office towers within the Sunway Lagoon Resort this year, managing director of property investment Ngeow Voon Yean said yesterday. However, the firm has not yet confirmed the cost for the new properties."The office towers are expected to be completed in two years," he said.

(New Straits Times 16-2-2008)

Sunway Pallazzion Bkock Sold For RM220 Million

On the heels of the en-bloc sale of its 249 unit Sunway South Quay, it is now believed that Sunway City Bhd (SunCity) has done a second large-scale deal with the disposal of Block B of Sunway Pallazzion in Kuala Lumpur for RM220 million. Located in the upmarket Sri Hartamas area, the 80-unit high end project that is expected to be completed by 2010 is understood to have been sold to a Middle Eastern fund for RM750 psf.

(12-01-2009 New Straits Times)

Record H1 sales for SunCity

PETALING JAYA: Sunway City Bhd (SunCity) has achieved record unbilled sales of RM1.2bil in the first half of the financial year ending June 30 (FY08) with the en bloc sale of two projects. Property development managing director Ngian Siew Siong said the projects were Sunway South Quay (two blocks), which was sold to a South Korean investor on Dec 27, and the Sunway Palazzio Block B, which was sold for RM219mil to Radiant Splendour Sdn Bhd.

(9-1-2008 The Star)

SunCity confident 2008 profit will beat forecasts

SUNWAY City Bhd said its net profit and revenue for fiscal 2008 will beat forecasts as it sells two large properties and promises more of similar sales in the future. Property sales are set to hit a record RM1.35 billion for the year to June 30 2008. It has managed to book sales of RM924 million so far, said Ngian Siew Siong, managing director for property development.

(9-1-2008 New Straits Times)

Mideast Fund Snaps Up Sunway City Condo

Sunway City Bhd has concluded its second en bloc sale-the Sunway Pallazzio Block B for an estimated RM220 million to a firm linked to a Middle Eastern fund. Sunway Pallazzio, an 80-unit super luxury condominium in Sri Hartamas, was sold at around Rm750 per sq ft. The building is due to be completed in 2010.

(7-1-2008 New Straits Times)

Suncity to bag major properties sale

Sunway City Bhd (Suncity) is set to bag a multi-million ringgit deal with an enbloc sale of its high-end sunway palazzio to a foreign buyer this week, according to a source.

(Malaysian Reserve 7-1-2008)

Mideast fund snaps up Sunway City condo

SUNWAY City Bhd has concluded its second en bloc sale - the Sunway Pallazzio Block B for an estimated RM220 million to a firm linked to a Middle Eastern fund. The buyer for the property, which is under construction, is Radiant Splendor Sdn Bhd, a special purpose vehicle affiliated to the fund, sources say.Sunway Pallazzio, an 80-unit super luxury condominium in Sri Hartamas, was sold at around RM750 per sq ft. The building is due to be completed in 2010.

(4-1-2008 New Straits Times)