KUALA LUMPUR: Sunway Construction Group Bhd (SunCon) has accepted two letters of intent (LOIs) for works relating to solar photovoltaic energy generating facilities under the large scale solar 4 (LSS4) programme worth a combined RM385mil.

       In a filing with Bursa Malaysia, the group said the scope of the works will include the design, engineering, procurement, construction, testing and commissioning of solar photovoltaic energy generating facilities with ancillary equipment and facilities.

       The first LOI was issued by Gopeng Bhd’s subsidiary, GBS Suria Sdn Bhd, for the construction of a solar photovoltaic energy generating facility with a generating capacity of 50MW in Mukim Teja in Kampar, Perak, for a total sum of RM200mil.

       A second LOI was issued by Sharp Ventures Solar Sdn Bhd for the construction of a solar photovoltaic energy generating facility with a generating capacity of 50MW in Mukim Kapar in Klang, Selangor for RM185mil.

       Both LSS4 projects are scheduled to be completed and achieve the commercial operation date on Dec 31, 2023 as required by Suruhanjaya Tenaga. Including these new projects, SunCon said the total new projects it secured this year amounts to RM1.47bil.

       The group noted that the deal with GBS Suria is a related-party transaction by virtue of the companies’ connections with the Cheah family, who are the major shareholders of the Sunway group.

       In a separate announcement, SunCon said its wholly-owned subsidiary, Sunway Construction Sdn Bhd, has inked a supplemental agreement with Sunway South Quay Sdn Bhd (SSQ) to revise the contract sum of the construction of commercial mixed development (CP2) in Bandar Sunway to RM755.72mil.

       In addition, the revised completion date of the CP2 project would be July 15, 2024.

       The original contract value, signed on Aug 18, 2020, was RM463.17mil, with completion date then set on Dec 14, 2023.

       SSQ is an indirect subsidiary of Sunway Bhd, which, in turn, is a major shareholder of SunCon. SunCon’s net profit for the nine months ended Sept 30, 2021 rose 12% to RM47.86mil from RM42.59mil in the previous corresponding period, mainly due to an improvement in the group’s precast segment.

       Revenue for the nine-month period ended Sept 30, 2021 increased to RM1.10bil from RM925.42mil a year earlier.