PETALING JAYA: Sunway Group founder and chairman Tan Sri Jeffrey Cheah is positive on 10 per cent growth in the group’s performance, citing “dark storms” in the property market are in the past and “the weather is clearing up.”
“Generally, our shareholders are happy with the dividends and financial results,” he told reporters after the company's shareholders meeting here today.
“I am positive on 2018. We should be able to achieve 10 per cent improvement. It is not easy but I am confident that my team is working doubly hard,” Jeffrey said.
Also present at the media briefing were Sunway president Datuk Chew Chee Kin, executive director Sarena Cheah Yean Tih and chief financial officer Chong Chang Choong.
Last week, the Housing and Local Government Minister Zuraida Kamaruddin announced the National Community Policy will mandate affordable homes, such as the People's Housing Project (PPR) flats, must be at least 900 sq ft in size instead of the current 600 sq ft.
"I do not want the PPR living quarters and those for the B40 group to be small like birds' nests," the minister reportedly said.
When asked to comment, Sarena says Sunway is looking forward to engage with the Ministry on win-win formula that fulfils the government's vision as well as company shareholders interests.
“We are supportive of the government's vision and we hope to engage further with the government on incentives to make this policy a mutually beneficial initiative,” she said.
Sarena said her team is launching Sunway Geo Lake next week. “This year, we are hopeful to achieve RM1.3 billion sales from RM2 billion worth of property launches.”
When asked if Sunway is still on track to list its healthcare arm next year, Jeffrey replied, “yes, we are still planning to list Sunway Medical, our healthcare division. We are building five more hospitals.”
“Sunway Velocity in Cheras is scheduled to be completed at the end of this year. There will be another at Sunway Damansara, one in Ipoh, two in Penang and one in Sunway Iskandar, Johor.
“We need to have two or three hospitals up and running first. Then we see the market sentiment and perhaps, it would be a good time to list,” said Jeffrey.