Sunway optimistic of growth on solid economy
PETALING JAYA: Sunway Bhd expects the favourable macroeconomic factors will continue to support its business growth this year.
President Tan Sri Chew Chee Kin noted that the global economy is navigating an increasingly challenging and complex macroeconomic landscape.
'The year ahead may face headwinds surrounding tariffs and policy uncertainties, posing adverse risks to global economic growth, rising inflationary pressure and a retreat in major investment decisions,' he said in the company's annual report.
Chew believes that Malaysia's economy is expected to be sustained in 2025, anchored by domestic demand, employment and wage growth and continued expansion in infrastructure and digital infrastructure investments amidst the global technology upcycle.
'As Malaysia assumed the Asean chair in 2025, efforts to strengthen the Asean economic bloc could fortify Malaysia's economic resilience.'
He said Malaysia's real estate market is anticipated to remain resilient in 2025, anchored by spillover from the national master plans and catalytic initiatives in the southern region.
'The property development segment strategically planned its property launches and landbanking efforts in key growth areas in Malaysia while continuing to explore regional opportunities.
'This year, the property development division sets a property launch target of RM4.1bil across Malaysia, Singapore and China, and property sales target increased to RM3.6bil (2024: RM3bil).
'In accelerating development in the southern region, Sunway City Iskandar Puteri (SCIP) continues its focus on creating a self-sustaining township, capitalising on Sunway's strong track record in replicating its build-own-operate model.
'The focus is on fostering vibrant economic activities and job creation to ensure the township's success.' In 2025, Chew said the group plans to launch RM1.3bil worth of properties in SCIP and Johor Baru.
Separately, he said the demand for the healthcare sector is expected to rise in the medium to long term, as the nation transitions towards an ageing population and increasing need for superior quality healthcare services.
'The healthcare division's strategic priorities in the financial year 2025 and beyond are expanding its network of hospitals and capacity, ensuring clinical excellence, accelerating digital innovation and growing medical tourism.
'Expansion efforts will continue to focus on both greenfield and brownfield expansion.
'This includes the opening of Sunway Medical Centre Ipoh in April 2025 and progressively increasing the number of licensed beds at Sunway Medical Centre Sunway City, Sunway Medical Centre Penang and Sunway Medical Centre Velocity.'
He also said preparation for the initial public offering of Sunway Healthcare Group is underway, underscoring the management's confidence in its robust growth trajectory.
Additionally, Chew said the prospects for Malaysia's construction sector are anchored by sustained public and private sector investments, as well as foreign direct investment. 'The construction division is well-positioned to capitalise on these opportunities given its strong execution and delivery excellence track record.
'The division's strategic focus in the advanced technology facilities sphere is well-positioned to capitalise on the opportunities in data centre development, reinforced by Malaysia's aspiration to become a key regional data centre hub.'
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