Sunway Builders (Myanmar) Co Ltd (SBM) signs MOU with Capital Construction Limited (CCL)

Sunway Builders (Myanmar) Co Ltd (SBM), an indirect wholly-owned subsidiary of SunCon, had entered into a Memorandum of Understanding (MOU) with Capital Construction Limited (CCL) to cooperate, collaborate and share expertise on infrastructure and construction projects in Myanmar on 1 April 2019. With this partnership, SBM and CCL plan to jointly bid for potential projects to be developed by CDSG over the next three years, such as mixed developments, offices, hotels and hospitals in Yangon and Mandalay, as well as external infrastructure projects. The MOU will also enable both construction giants to share construction knowledge and expertise in project management, to put forward the most effective strategy for project development. For internal projects undertaken by CDSG and its group of companies, the proportion in the joint venture will be CCL 65:35 SBM. For external projects undertaken by the joint venture apart from the CDSG and its group of companies’ internal projects, the proportion in the joint venture will be SBM 60:40 CCL. CCL is a leading construction company in Myanmar and also a member of Capital Diamond Star Group (CDSG).