KUALA LUMPUR, July 9 — Sunway Bhd plans to explore new business opportunities to ensure the sustainability of its businesses in the post COVID-19 period.
Group president Datuk Chew Chee Kin said the COVID-19 pandemic had caused significant disruptions and financial impact to the group, particularly its hospitality and leisure businesses, which were not allowed to operate during these periods.
“The group, of course, will look at other business opportunities,” he told reporters after 5G and Smart Solutions memorandum of understanding signing ceremony, here today.
Chew said operational stats are already showing signs of picking up in retail and hotel revenue.
“Hotel, theme park and mall are tourist-related (businesses) which were closed during the Movement Control Order (MCO).
“Hence, during this Recovery MCO, we launch RM499 “Ke Sana Ke Sini” campaign to boost domestic demand and we received well responses and that has helped us to offer good value for customers,” he said.
The group reported a decline in net profit for the first quarter (Q1) ended March 31, 2020, due to lower contributions from most business segments except property development and quarry segments.
Revenue also eased to RM971.44 million from RM1.12 billion achieved a year earlier.