Expansion of Singapore Landbank Bodes Well for Sunway -- Market Talk

Dow Jones
2025/09/11

0316 GMT - Sunway has strengthened its presence in Singapore after securing a second land parcel at Chuan Grove for S$624 million, through its joint venture with Sing Holdings Residential, MBSB Research analyst Jessica Low Jze Tieng says in a note. The site will host about 500 residential units, with the launch expected in 1H of 2027, she notes. Sunway's Singapore projects contributed 31% of 1H sales, and the expansion of its landbank bodes well for the company's growing property exposure in the city-state, she says. MBSB maintains a neutral rating on Sunway, as it believes the positives from the coming listing of Sunway Healthcare are already priced in, and keeps the target price at MYR5.06. Shares are 0.2% higher at MYR5.30. (yingxian.wong@wsj.com)

 

(END) Dow Jones Newswires

September 10, 2025 23:16 ET (03:16 GMT)

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