Sunway Shares Up In Early Trade On Strong 1Q Earnings
KUALA LUMPUR, May 28 (Bernama) -- Sunway Bhd shares rose in early trade today after the company reported stronger earnings in the first quarter ended March 31, 2026 (1Q 2026).
At 10.12 am, the counter increased nine sen to RM5.33 with 1.91 million shares traded.
In a Bursa Malaysia filing, Sunway said its net profit surged to RM9.41 billion in 1Q 2026, from RM190.55 million last year.
Growth was mainly due to a net gain of RM9.09 billion from the remeasurement of its investment in Sunway Healthcare Holdings Bhd (SHH) to fair value on its listing and reclassification as a subsidiary.
Revenue for the quarter under review rose by eight per cent year-on-year to RM2.55 billion from RM2.36 billion on stronger segment performance.
Meanwhile, Hong Leong Investment Bank Bhd said Sunway remains a compelling proxy for domestic growth, which is entering a new phase driven by structural reforms, with its expanding footprint across key sectors of the Malaysian economy.
“We deem the (strong) results to be within expectations, as 1Q 2026 is typically a seasonally weaker quarter for the group.
“Therefore, we maintained a “Buy” call on with a higher target price of RM6.50 per share,” it said in a note today.
-- BERNAMA