Sunway Construction Integrated Annual Report 2025

SunCon at a Glance

SunCon’s business operations are primarily located in Malaysia, Singapore and India.

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More than

40 YEARS

of Excellence

LEADING

vertically integrated contractor listed on Bursa Malaysia

Turnover recorded to date

> RM45 BILLION

3 precast plants at

174,000m³ capacity

Data centre capacity delivered as at
31 December 2025:

>156MW

1,747

employees including direct workers

More than

40 YEARS

of Excellence

LEADING

vertically integrated contractor listed on Bursa Malaysia

Turnover recorded to date

> RM45 BILLION

3 precast plants at

174,000m³ capacity

Data centre capacity delivered as at
31 December 2025:

>156MW

1,747

employees including direct workers

More than

40 YEARS

of Excellence

LEADING

vertically integrated contractor listed on Bursa Malaysia

Turnover recorded to date

> RM45 BILLION

3 precast plants at

174,000m³ capacity

Data centre capacity delivered as at
31 December 2025:

>156MW

1,747

employees including direct workers

More than

40 YEARS

of Excellence

LEADING

vertically integrated contractor listed on Bursa Malaysia

Turnover recorded to date

> RM45 BILLION

3 precast plants at

174,000m³ capacity

Data centre capacity delivered as at
31 December 2025:

>156MW

1,747

employees including direct workers

More than

40 YEARS

of Excellence

LEADING

vertically integrated contractor listed on Bursa Malaysia

Turnover recorded to date

> RM45 BILLION

3 precast plants at

174,000m³ capacity

Data centre capacity delivered as at
31 December 2025:

>156MW

1,747

employees including direct workers

More than

40 YEARS

of Excellence

LEADING

vertically integrated contractor listed on Bursa Malaysia

Turnover recorded to date

> RM45 BILLION

3 precast plants at

174,000m³ capacity

Data centre capacity delivered as at
31 December 2025:

>156MW

1,747

employees including direct workers

Proven track record spanning

SEVEN COUNTRIES

Chairman's Statement

Scaling New Heights: A Record-Setting Year Built on Operational Excellence and Strategic Discipline

DATO' IR GOH CHYE KOON

Chairman

DATO' IR GOH CHYE KOON

Chairman

DEAR ESTEEMED STAKEHOLDERS,

On behalf of the Board of Directors of Sunway Construction Group Berhad (SunCon or the Group), I am pleased to present the Integrated Annual Report 2025 and audited financial statements for the financial year ended 31 December 2025.

Financial year 2025 (FY2025) was a landmark year for SunCon, as the Group capitalised on the rapid expansion of data centre construction while maintaining the operational excellence of our core business units. The Group achieved historic highs for both revenue and profitability, underscoring the resilience and agility of our diversified business model.

First Interim Dividend of 5.00 Sen Per Share

First interim single tier dividend of 5.00 sen per ordinary share for the financial year ended 31 December 2025

20 May 2025

Announcement of the notice of entitlement and payment

10 June 2025

Date of entitlement

25 June 2025

Payment date

Second Interim Dividend of 7.25 Sen Per Share

Second interim single-tier dividend of 7.25 sen per ordinary share for the financial year ended 31 December 2025

21 August 2025

Announcement of the notice of entitlement and payment

11 September 2025

Date of entitlement

25 September 2025

Payment date

Third Interim Dividend of 6.25 Sen Per Share

Third interim single-tier dividend of 6.25 sen per ordinary share for the financial year ended 31 December 2025

20 November 2025

Announcement of the notice of entitlement and payment

10 December 2025

Date of entitlement

23 December 2025

Payment date

Special Dividend of 23.00 Sen Per Share

Special single-tier dividend of 23.00 sen per ordinary share for the financial year ended 31 December 2025

20 November 2025

Announcement of the notice of entitlement and payment

18 December 2025

Date of entitlement

8 January 2025

Payment date

Fourth Interim Dividend of 9.00 Sen Per Share

Fourth interim single-tier dividend of 9.00 sen per ordinary share for the financial year ended 31 December 2025

23 February 2026

Announcement of the notice of entitlement and payment

17 March 2026

Date of entitlement

31 March 2026

Payment date

Building Construction Services

With a stellar track record in building construction spanning more than four decades, the Building Construction Services division continues to be a key contributor to SunCon. Its portfolio includes national landmarks such as the Kuala Lumpur Convention Centre, Petronas New Leadership Centre, TNB Headquarters Campus Phase 2 and Legoland Malaysia Theme Park, reflecting the division’s long-standing involvement in complex and high-profile developments.

Sunway Square, Sunway City Kuala Lumpur

2 projects completed

Total value

RM1.3 billion

Civil and Infrastructure Services

The Civil and Infrastructure Services division specialises primarily in civil and rail infrastructure construction and related services. With more than four decades of engineering excellence, our expertise spans the full project life cycle, from design to delivery. Our proven track record includes the successful execution of complex roads, highways, airports and bridges, as well as transformative rail transportation systems within Malaysia and in international markets.

Rapid Transit System (RTS) Link, Package 5, Johor

Highway Projects

Total Length Constructed

437 km

Total Contract Value

RM3.6 billion

Mechanical, Electrical and Plumbing & Advanced Technology Facilities

The Mechanical, Electrical and Plumbing (MEP) and Advanced Technology Facilities (ATF) division provides integrated MEP and ATF services as part of SunCon’s fully integrated construction offering. It primarily supports the Building Construction and Civil and Infrastructure Services divisions in meeting clients’ Green Building Index goals, drawing on its capabilities in energy-efficient and cost-effective solutions for custom and specialised projects.

5 new data centre projects

secured in 2025

Total Contract Value

RM2.9 billion

Manufacturing and Sale of Precast Concrete Products

Operating predominantly through its Integrated Construction and Prefabrication Hub (ICPH) in Singapore, the Precast Concrete division functions as a key supply chain partner for the Singapore public housing sector. Leveraging its highly automated manufacturing capabilities, the division delivers high-quality prefabricated components, supporting efficiency and consistency for large-scale developments. The adoption of prefabrication technologies is closely aligned with Singapore’s national objective of enhancing construction productivity by reducing on-site manpower requirements and ensuring quality for its essential public housing programme.

Integrated Construction and Prefabrication Hub (ICPH), Pulau Punggol Barat, Singapore

New Order Book Secured

SGD115.3 million

Outstanding Order as at Dec 2025

SGD248 million

Sustainable Energy Services

As part of SunCon’s ongoing contribution to national decarbonisation and energy efficiency efforts, the Group delivers a range of integrated sustainable energy solutions. These span district cooling systems as well as renewable energy services, including large-scale solar developments and rooftop solar solutions for commercial and industrial buildings, supporting clients’ operational efficiency and sustainability objectives.

Solar Power Plant in Kapar, Klang, under the Corporate Green Power Programme (CGPP)

EPCC and Investment

Total Installed Solar Capacity to Date

214 MWp

EPCC District Cooling System

Total Installed to Date

146,614 RT

Foundation and Geotechnical Engineering Services

The Foundation and Geotechnical Engineering Services division continues to provide specialised expertise in foundation and geotechnical engineering works, supporting the Group’s Building Construction and Civil and Infrastructure Services divisions. Its capabilities encompass piling, large diameter bored piles, diaphragm wall construction, deep basement excavation, top-down construction and related ancillary services.

Piling works at project site

1 project completed

Total Contract Value

RM40 million

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Financial Performance

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Profit Before Tax Margin (%)

2.0 pp

pp: percentage points

2025

9.8%

2024

7.8%

Effective Tax Rate (%)

4.3 pp

pp: percentage points

2025

23.5%

2024

27.8%

Basic Earnings Per Share (Sen)

91.3%

2025

27.74

2024

14.50

RM'000

2025

5,131,631

2024

3,326,897

54.2%

Construction Segment

The increase in turnover for FY2025 was mainly due to the peak of construction activities from several data centre projects.

RM'000

2025

207,083

2024

194,793

6.3%

Precast Segment

Turnover was higher in FY2025, driven by increased delivery volumes in the last two quarters of the year.

2025

15.2%

2024

13.4%

1.8 pp

Construction Segment

Gross profit was higher in FY2025, reflecting the recalibration of margins to capture cost savings from accelerated progress in certain data centre projects.

2025

20.9%

2024

17.4%

3.5 pp

Precast Segment

Gross profit margin in FY2025 improved in line with revenue growth and was further supported by the reversal of raw material provisions for completed projects.

RM'000

2025

511,808

2024

260,439

96.5%

Construction Segment

Construction profit before tax for FY2025 nearly doubled compared with the preceding financial year, supported by the improvement in gross profit margin and higher finance income, which together contributed to stronger profitability.

RM'000

2025

13,717

2024

12,523

9.5%

Precast Segment

Precast profit before tax improved in FY2025, in line with the higher gross profit margin and revenue.

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Value Creation Model

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Financial Capital

The pool of funds available to SunCon, generated from operations, investments and debt arrangements.

Beginning of FY2025

Share capital: RM258.6 million

Retained profits: RM660.9 million

Cash and bank balances: RM1,015.8 million

Market capitalisation: RM5.970 billion
Manufactured Capital

Physical assets owned or leased deployed to execute the business model across the value chain towards the creation of financial and non-financial outputs and outcomes.

A wide range of plant and machineries

2 precast plants

1 ICPH in Singapore
Intellectual Capital

All business and operational strategies, collective knowledge, skills, competencies and experience of SunCon, its subsidiaries and associate companies as well as its supply chain.

SunCon’s business model

Divisional business strategies

Intellectual property and proprietary business / industry knowledge i.e. Virtual Design and Construction, building management systems, software
Human Capital

The collective skills, talents, experience and capabilities of the Group’s talent including talent at subsidiary and associate companies responsible for day-to-day operations.

High-performance work culture centred on merit, equality and diversity

Talent focused, cultivating high performing culture

Championing adoption of VDC as key technology enabler for all project implementation

Talent mobilisation across different core businesses within SunCon

1,082 strong workforce (excluding direct workers)
Social Capital

Comprising the diverse network of relationships and engagements with various stakeholders. The understanding of stakeholders’ needs, concerns and aspirations and the implementation of appropriate engagement strategies.

Financial and non-financial investments into stakeholder engagements including engagement strategies, programmes and activities

Conducted 16 sessions in outreach programmes, participated by 1,700 university students

164 internship opportunities provided to young graduates

CSR budget and expenditure on community infrastructure and services, community events
Natural Capital

The pursuit of resource efficiency in the consumption of natural resources and materials required for the business model.

Energy consumed 89,969 MWh

Consumed 87 MWh solar energy

316,816 m³ of water consumption (Alternate water source: 39.3%)

RM11.12 million in solar investment projects

Established SunCon Sustainability Policy
VISION:

To be a leading regional construction and engineering group.

MISSION:

Innovating to deliver value underpins our relentless efforts to drive positive and sustainable change in the way we work and operate to create value for all our stakeholders.

CORE VALUES:

INTEGRITY

We believe in doing the right thing at all times.

HUMILITY

We believe in being humble.

EXCELLENCE

We take pride in all that we do.

Vertically Integrated

Innovation Driven

Harnessing Business and Operational Synergy

Powered by Innovation, People and Culture

Seamless Cross-Sharing of Knowledge, Talents and Assets

ESG Focused, UNSDG Aligned

Technologically and Digitally Enabled
Financial Capital

Revenue RM5,339 million

PBT: RM525.5 million

PAT: RM402.1 million

Cash and bank balances: RM2,000.1 million
Manufactured Capital

RM5.339 billion in projects progress for FY2025

Average QLASSIC score FY2025: 83% (vs industry average 79%)

Total 437 km of highways and 40.5 km of rail and mass transit projects constructed to date
Intellectual Capital

Improved communication channels via Autodesk Construction Cloud (ACC) platform

71 staff trained and developed with VDC competencies in FY2025 (FY2024: 133)

82.35% of planners trained with 4D skills
Human Capital

41 project leaders across 6 core businesses

Technology-enabled workforce capable of delivering and managing complex and advanced technology projects

83 VDC experts, and more than 40% operationally trained with VDC knowledge

19.4x staff productivity
Social Capital

Improved stakeholder relationships 65% buy calls from analysts and research houses

Customer Satisfaction Score: 100%

Zero fines for labour law non-compliance

Average SHASSIC score FY2025: 94.83% (vs industry average of 86.81% in 2023)

Engaged 224 new supply chain partners and subcontractors in the environmental and social assessment

2 awards & recognitions received
Natural Capital

Zero reported fines for environmental non-compliance

Generated green attributes of 5,282 tonnes CO₂e avoidance from our solar investments
Financial Capital

184% dividend payout of PAT after minority interests

RM123.5 million payable in income taxes

RM226.8 million paid in wages

Market capitalisation: RM7.458 billion as at end FY2025

High Return on Equity (FY2025: 44%; FY2024: 22%; FY2023: 19%) - Best ROE for 7 consecutive years in the Construction Sector awarded by The Edge Billion Ringgit Club
Manufactured Capital

A wide range of socioeconomic multiplier effects arising from the successful completion of building and infrastructure projects

Elevation of industry standards and benchmarks
Intellectual Capital

Enabling sustainable construction by managing resource consumption and carbon footprint while enhancing the Group’s value proposition

Continued strengthening of business processes and realisation of key business outcomes, including increases efficiency and productivity
Human Capital

Talent workforce that are mobile to vertically move across different core businesses

Strong talent bench strength for key succession planning

Technology enabled workforce capable of managing advanced technology projects
Social Capital

Zero accidents involving the community or general public

Development of talent pool that supports SunCon’s human capital requirements

Contribution of more than RM2.53 million for total amount invested for external beneficiaries through the Jeffrey Cheah Foundation as well as various community and SunCon Social Club (SSC) initiatives
Natural Capital

Improved environmental oversight and implementation of practices with progressive integration of ESG into the SunCon’s business strategies and its operations

On track in meeting SunCon’s 2030 emission reduction targets

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Sustainability Statement

Driven by our vision to be a leading regional construction and engineering group, we deliver infrastructure and built environments that enable economic progress while recognising our responsibility to minimise environmental impacts, protect our people and contribute positively to communities and stakeholders.

Our mission, innovating to deliver value, guides how we embed sustainability into the way we plan, operate and deliver projects. By integrating responsible practices and forward-looking solutions across our business, we support sustainable growth, strengthen long-term resilience and create shared value for all stakeholders.