Property Insight > News release > Jasper Square pays off for Sunsuria

Jasper Square pays off for Sunsuria

The completion of Sunsuria Berhad’s Jasper Square has paid off, with the company registering revenue of RM249 million and net profits of RM91.6 million for the current quarter under review.

The higher revenue and net profit for Q2 was largely due to revenue and net profit contribution from Sunsuria’s commercial development project upon its completion and handing over of keys to the purchasers in the current quarter.

“We attribute our Q2 performance to the continual support for our properties from our customers and our team’s successful delivery of our core values – integrity and reliability, while we strive to achieve excellence. Moving forward, we will continue to market our projects in Sunsuria City and SunsuriaForum, ” said Sunsuria’s executive chairman Tan Sri Datuk Ter Leong Yap.

The company also said its year-to-date revenue and net profit was higher at RM331.9 million and RM102.2 million respectively.

Sunsuria adds its residential developments – The Olive, Bell Suites SOHO, Monet Lily, Monet Springtime, Monet Garden and Forum 2 SOHO – contributed substantially to their Q2 results.

In the same statement, Sunsuria also said it has inked business collaborations with Chinese firms Sinotrans Limited and IAT Automobile Technology Co. to explore new business opportunities at the Second Belt & Road Forum for International Corporation in Beijing last month.

“Bolstered by our recent collaborations with our Chinese partners and project launches for the year, we will continue to invest in innovation, talent development and community to drive sustainable, long-term shareholder value and contribute to Malaysia’s bilateral trade,” Ter said.

Under the Memorandum of Understanding with Sinotrans, one of China’s largest third-party logistics provider, the company will be exploring business opportunities in Smart Logistics Park and Business.

Meanwhile, Sunsuria’s Strategic Cooperation Agreement (SCA) with IAT, one of China’s leading independent automotive design and engineering entities, will allow the company to collaborate on the ASEAN Automotive Design & Innovation Centre for product research & design, industry talent development, car-sharing, test track and cutting edge technology services.

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