KUALA LUMPUR, Nov 29 — Sunway Bhd’s pre-tax profit for the third quarter ended September 30, 2013 declined to RM118.2 million from RM142.4 million registered in the same quarter last year.

However, revenue increased to RM1.1 billion, during the period under review, from RM865 million recorded previously mainly due to higher revenue recorded in the property development and construction segments.

In a filing to Bursa Malaysia, Sunway said it expected to continue to perform well as the Malaysian economy was projected to grow between 5.0 and 5.5 per cent next year compared with the expected growth rate of 4.7 per cent this year.

Sunway said the property cooling measures recently announced by the government would have a short-term dampening effect on the local property market

The group remains confident of managing the new market environment due to the strategic location of its land bank. — Bernama