Case Study: Sunway Berhad

Sunway Berhad
Sunway Berhad was founded by Tan Sri Dr. Jeffrey Cheah in year 1974. In year 1984, Sunway Holdings Incorporated Berhad was officially listed in Bursa Malaysia. In year 2011, It merged with Sunway City Berhad and formed Sunway Berhad. It is one of largest public listed property-construction corporations in Malaysia as well as overseas.It is a multi-sector conglomerate with 12 business divisions which are property, trading and manufacturing and building materials, quarrying, retail, commercial, leisure, healthcare, education, real estate investment trust (REIT) and hospitality ("Sunway Group Corporate Profile", 2016). The property segment aims to grow and invest the properties by leasing, tenanting and licensing the properties.

Its most successful development is the Sunway Intergrated Resort City which generates around RM30 million every year. It comprises about 7,000 commercial and residential units. It becomes one of the most preferred tourist destinations in Malaysia because it provides a world class facilities that meets tourists’ satisfaction the most. In 2008, Sunway Berhad entered into a joint venture with Singaporean property developer for residential properties project, for 40-storey and 46-storey residential units. In conjunction, it also expand its market into China via Sunway Real Estate (China) Limited, with RM473 million 17-acre property project. The managing director of Sunway Berhad, Ms. Sarena Cheah mentioned that the banks are not in favour to provide any loans to them due to high household debt. Besides, she also pointed out that property is a valuable asset as it would not depreciate, and this is why Sunway Berhad put a lot of effort in property development than other companies do. Sunway Berhad has maintained its top ranking of The Edge Malaysia Top Property Developers Awards and also sub award for Best in Qualitative Attributes

In Dec 2013, its name changed from Focal Aims Holding Berhad to Eco World Development Group Berhad. The commercial and residential properties are mostly built by EcoWorld Berhad in Malaysia since 2011 ("Eco World Development Sdn. Bhd. | gradmalaysia.com | Malaysian graduate jobs, internships, and careers advice", 2016). It operates delevopment projects including new townships, commercial development and green business parks. It has approximately 7,443.9 acres of land with a gross development value of RM81.16b from approximately 20 property development projects. ("Company Profile for ${Instrument_CompanyName}", 2016). In year 2014, EcoWorld Berhad generated its first project which called EcoSky, building luxury residential complex. The units were sold quickly in just a few months ("Company Profile for ${Instrument_CompanyName}", 2016). The Group has expanded its business by operating residential projects and a business park which called EcoBotanic, EcoSpring, EcoSummer and EcoBusiness Park in Johor Bahru ("Eco World Development Sdn. Bhd. | gradmalaysia.com | Malaysian graduate jobs, internships, and careers advice", 2016). EcoWorld Development Berhad had achieved a sales target with RM3.02 billion. Moreover, the group is looking forward to launch property development projects in foreign countries such as United Kingdom and Australia in order to meet one of its vision,