Sunway ready to consider viable M&A proposals

CONSTRUCTION and property group, Sunway Holdings Bhd, is open to mergers and acquisitions (M&As) if the proposition makes good business sense.

"It all depends on how attractive they are and we will seize the business opportunities," said Tan Sri Ramon Navaratnam, Sunway Group's corporate Adviser.

Sunway was one of the firms that could attract M&As, based on its low valuations, analysts said.

When asked if Sunway is looking at acquiring or selling, Navaratnam said, "it depends on the details of the project. If we feel we have a comparative advantage in certain areas then we would want to acquire because we have positional strength."

Sunway aims to make a "strong bid" for projects under the Ninth Malaysia Plan, he said.

Meanwhile, the Sunway Group's education unit plans to expand its overseas presence into Shanghai, China, through strategic collaboration as early as January 2007.

"We are talking to a few universities in China and should narrow down to one party soon," said Lee Weng Keng chief executive officer for the group's education and healthcare division.

The partnership entails Sunway providing management and academic expertise with infrastructure set up by the Chinese counterpart.

Sunway aims to run accounting programmes for professionals which will cater specifically for the China market.

Locally, Sunway is currently building a completely new independent campus at a new site within the Bandar Sunway area.

The new Monash University Malaysia's campus costing RM200 million is slated to be completed in the first quarter of 2007.

The group has also invested RM100 million to double the floor space of the Sunway Medical Centre by the end of 2008.