（吉隆坡19日讯）在杰出企业家加速器平台（LEAP）市场上市的Sunmow Holding Bhd（KL:SUNMOW）公布，联营公司获得价值10亿2000万令吉的道路建设合约。
该公司向大马交易所报备，这项分包合约是砂沙联通道路（SSLR）项目第二期的4B配套（Bukit Pagon至Long Luping）。
Sunmow持有联营公司的70%股权，而余下30%由Kemena Holding私人有限公司所持有。
Sunmow指出，该公司有48个月的时间完成合约，并且必须提供自实际完工之日起24个月的缺陷责任保险。
这家砂拉越公司于2021年11月上市LEAP市场，由单一最大股东兼执行主席江昌谋控有。他的胞弟暨公司董事经理江昌文则持有28.80%股权。
合约价值超市值
这项分包合约的价值是Sunmow目前市值2亿3280万令吉的3倍多。
该公司指出，将通过内部资金，包括按进度入账和项目融资来执行该合约。
截至2023年12月，该公司的现金和银行余额为2092万令吉，以及167万令吉的定期存款。定期贷款总额为476万令吉，欠银行的未偿余额为481万令吉。
Sunmow和Kemena于4月2日签署联营协议，提交该项目的标书。
Sunmow表示，该联营公司将为其提供增加收益的机会，并符合继续利用建筑活动优势并扩展到道路建设的计划。
截至去年12月杪财政年，该公司净赚855万令吉，较上财年的569万令吉，劲扬50.32%；营业额由8791万令吉，增长31%至1亿1516万令吉。
在LEAP市场上市的公司，无需呈交季度财务报告和常年报告。他们只需发布半年度财报和常年审计账目。
KUALA LUMPUR (Aug 19): Sunmow Holding Bhd (KL:SUNMOW), listed on the LEAP Market, said on Monday that its joint-venture (JV) company had secured a RM1.02 billion road construction contract.
The contract for the Package 4B spans Bukit Pagon to Long Luping under the second phase of the Sarawak-Sabah Link Road project, according to Sunmow in an exchange filing. Sunmow has a 70% stake in the JV, while Kemena Holding Sdn Bhd owns the remaining 30%.
The company has 48 months to complete the contract and has to provide defects liability cover for 24 months from the date of actual practical completion, Sunmow said.
Sunmow, a Sarawak-based company listed on Bursa Malaysia's LEAP Market since November 2021, is controlled by its single-largest shareholder and executive chairman Kong Chiong Miew. His brother Kong Chiong Ung, who is also the managing director of the group, holds a 28.80% stake in Sunmow.
The company offers construction services, including infrastructure development, building structures, refurbishment, drainage systems, road paving, and support services for the oil and gas industry, according to its website.
Kemena, also based in Sarawak, is a general contractor and engages in sales of premix. The company is linked to Pauline Voon Pau Lin and Hii Toh Ing @ Hii Toh Yung, according to CTOS data.
Contract value exceeds market cap
The value of the subcontract is more than four times Sunmow's current market capitalisation of RM232.8 million.
The project will be funded by the company’s internally generated funds, including progress claims, and project financing, though the exact mix will be decided at a later date, the company noted.
Sunmow reported cash and bank balances totalling RM20.92 million, alongside RM1.67 million in fixed deposits held with licensed banks, at the end of December 2023. The company had total term loans amounting to RM4.76 million, with an outstanding balance of RM4.81 million owed to bankers.
Sunmow and Kemena’s JV agreement was signed on April 2 to submit a bid for the project.
The JV, Sunmow said, will provide an opportunity to strengthen its earnings, and fits into its plan to continue to draw on the strength in construction activities and expand into road construction.
For the financial year ended Dec 31, 2023, Sunmow’s net profit climbed 50.32% to RM8.55 million from RM5.69 million a year earlier, as revenue grew 31% to RM115.16 million from RM87.91 million, according to latest available data.
Companies listed on the LEAP Market do not need to submit quarterly financial reports and annual reports. They are only required to come out with semi-annual financial reports and annual audited accounts.
