HLIB remains upbeat on SunCon’s project wins in the Large-Scale Solar 4 scheme.
Hong Leong Investment Bank said Sunway Construction’s slightly disappointing performance in H1 FY2023 was mainly attributed to the slow progress of its key data centre project.
In a note on today, HLIB said despite temporary delays, it remains upbeat that SunCon’s Corporate Green Power Programme’s project wins in the Large-Scale Solar 4 scheme position the construction group for strategic benefits in the government’s National Energy Transition Roadmap. Following the projections HLIB readjusted its earnings forecasts for the FY2023, 24, 25 by -1.1%, +1.2% and +0.6% respectively to align with expectations.
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