Profits were also boosted by the share of higher fair value gains from the annual revaluation exercise done on Sunway REIT properties of RM56.8 million in the current quarter, compared to RM23.7 million, previously. It declares an interim dividend of seven sen per share which is higher than the interim dividend of five sen declared last year. For the quarter, the property development segment recorded a higher pre-tax profit of RM75.2 million, up 24.1 per cent from RM60.6 million a year ago due to higher profit recognition from both the local and overseas projects. It has acquired a total of five strategically-located land parcels this year with a total GDV of about RM5.5 billion. The construction segment recorded a higher pre-tax profit of RM42.3 million in the current quarter, 22.8 per cent higher than RM34.5 million last year, with revenue up 24.7 per cent to RM310.9 million from RM249.3 million.

Source: New Strait Times August 29, 2017 14:15 UTC