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Thursday, March 27, 2008

SunCity projects unchanged sales next year

SUNWAY City Bhd, a Malaysian developer and hotelier, said it’s “concerned” about slowing global economic growth as it forecast unchanged sales next year.

Revenue in the year ending June 2008 will be RM1.4 billion (US$439 million) and little changed in the following 12 months, Ngian Siew Siong, Sunway’s managing director of property development, said in an interview in Kuala Lumpur yesterday.

The company may list a real estate investment trust of its properties in Malaysia or Singapore in the second half of the year, chief financial officer Koong Wai Seng told reporters.

Sunway will also start a RM1.5 billion property project in India in April, a venture with Opus Pte, Koong said.

By Bloomberg

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