PETALING JAYA: Sunway Bhd is ready to pull its levers to propel its business to the next phase of growth, according to Hong Leong Investment Bank (HLIB) Research.

       The research house remains upbeat on the group’s growth prospects.

       The research house said there is a rerating opportunity based on the group’s integrated business model.

       It said each segment would complement the business model of the group, resulting in synergistic value larger than the sum-of-parts.

       Its new strategic partner, Singapore’s GIC Pte Ltd, will expedite the expansion of Sunway’s healthcare segment, culminating into the separate listing of the healthcare unit to unlock value.

       Meanwhile, the management remains positive on property development as the overall macro environment in 2022 remain supportive.

       “The group will continue to focus on land banking activities in the Klang Valley,” HLIB added.

       The group’s executive condominiums namely Parc Canberra and Parc Central in have achieved a 100% take-up rate.

       As for the private condominium called Ki Residences, it has achieved an 86% take-up rate.

       HLIB said the Singapore property market outlook remains positive as it continues to attract high net worth buyers due to the city-state’s strategic position as a regional financial hub.

       In China, the Sunway Garden development in Tianjin is at its last phase.