Sunway Group, listed as Sunway Berhad on Bursa Malaysia, is a diversified Malaysian conglomerate founded by Jeffrey Cheah in 1974. Its core businesses are property development and construction, complemented by fast-growing healthcare (Sunway Medical) and education (Sunway University) arms, all anchored by its integrated-township model. It posted record revenue of RM7.88 billion for FY2024.
- Sunway Berhad reported record FY2024 revenue of RM7,882.5 million, up 28.5%, with profit before tax of RM1,524.1 million.
- The group is built on an integrated-township model that combines property, construction, healthcare, education, retail and hospitality.
- Construction became the largest revenue driver in FY2024, boosted by data-centre projects, with an order book of about RM4.2 billion.
- Sunway spun off its healthcare arm, Sunway Healthcare Holdings, listing it on Bursa Malaysia as SUNMED on 18 March 2026.
Who this applies to: Readers researching Malaysian conglomerates, investors, students and anyone comparing Sunway's business segments.
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Sunway Group turns land into whole townships — homes, malls, hospitals, universities and theme parks on one master plan — then keeps operating what it builds.
What is Sunway Group?
Sunway Group is a diversified Malaysian conglomerate, listed on Bursa Malaysia as Sunway Berhad (stock code 5211). It was founded by Jeffrey Cheah in 1974 and is headquartered at Sunway City, Subang Jaya, Selangor.
Its defining strategy is the integrated township: Sunway acquires and develops large tracts of land, then layers property, retail, hospitality, healthcare, education and leisure onto the same site. Sunway City (formerly Bandar Sunway) is the flagship example.
What are its main business segments?
The two core segments are property development and construction. Around these sit healthcare (Sunway Medical), education (Sunway University and the wider Sunway Education Group), retail, hospitality and leisure.
In FY2024, construction became the largest revenue contributor, lifted by the accelerated progress of data-centre projects, with a construction order book of about RM4.2 billion.
The table below shows segment performance for the fourth quarter of FY2024, the most granular breakdown disclosed in the group’s FY2024 results release.
| Segment (Q4 FY2024) | Revenue (RM m) | Profit before tax (RM m) |
|---|---|---|
| Construction | 1,099.8 | 116.7 |
| Property development | 809.6 | 162.5 |
| Healthcare | Not separately disclosed | 67.0 |
How is it performing financially?
Sunway Berhad posted record revenue of RM7,882.5 million for FY2024, a 28.5% increase year-on-year. Profit before tax rose 53.4% to RM1,524.1 million, from RM993.3 million in FY2023.
The board declared a dividend of 6.00 sen per ordinary share for FY2024. The group cited stronger operating performance across all business segments.
Who owns and runs it?
Jeffrey Cheah is the founder and chairman. The group’s president is Tan Sri Dato’ (Dr.) Chew Chee Kin.
Sunway Berhad is the flagship listed holding company. The wider group also includes separately listed entities on Bursa Malaysia, and Cheah’s philanthropic vehicle, the Jeffrey Cheah Foundation, is tied to the education arm.
Why does the healthcare business matter?
Healthcare has been Sunway’s fastest-growing segment. In FY2024 the group opened Sunway Medical Centre Damansara (SMC Damansara) in December 2024, and its FY2024 results cited an increase in licensed beds from 1,240 to 1,396, with healthcare profit before tax growing strongly.
In June 2021, Singapore’s sovereign wealth fund GIC agreed to invest RM750 million for a 16% stake in Sunway Healthcare, an investment spread over about three years and implying an equity value of about RM4.7 billion (RM4,688 million). The group later spun the business off, listing Sunway Healthcare Holdings on the Main Market of Bursa Malaysia as SUNMED on 18 March 2026 at an IPO price of RM1.45; the stock closed its debut about 28% higher.
Why does Sunway matter?
Sunway is one of Malaysia’s most recognisable homegrown conglomerates and a case study in the “build-own-operate” township model. Its education arm (Sunway University) and healthcare arm (Sunway Medical) give it a footprint in social infrastructure that most property developers lack.
The 2021–2026 monetisation of the healthcare business — bringing in GIC and then listing SUNMED — shows how the group recycles capital: build a business inside a township, scale it, then partly float it to fund the next phase.
What’s next
Watch the SUNMED-listed healthcare business as a standalone entity, and how Sunway deploys the capital raised. Construction momentum will hinge on the data-centre pipeline that drove FY2024. Later disclosures — full-year segment breakdowns and post-listing shareholding structures — should be verified against Sunway Berhad’s investor relations releases and Bursa Malaysia announcements before relying on any figure here.
Who founded Sunway Group and when?
Sunway Group was founded by Jeffrey Cheah in 1974. He remains its founder and chairman.
What are Sunway's main business segments?
Its core segments are property development and construction, alongside healthcare, education, retail, hospitality and leisure operations.
Is Sunway healthcare a separate listed company?
Yes. Sunway Healthcare Holdings was listed on the Main Market of Bursa Malaysia as SUNMED on 18 March 2026. Singapore's GIC had earlier agreed, in June 2021, to invest RM750 million for a 16% stake in the healthcare business.
The following are deliberately unstated or described only qualitatively until confirmed by a subject-matter expert:
- Full-year FY2024 segment breakdown: draft cites only the Q4 FY2024 table; confirm construction was the largest full-year revenue contributor.
- Reconcile the group's reported licensed-bed increase (1,240 to 1,396) with SMC Damansara's own stated capacity of more than 345 beds.
- GIC's remaining stake and the full post-listing shareholding structure of SUNMED after the 18 March 2026 IPO.
- Whether Tan Sri Dato' (Dr.) Chew Chee Kin remains group president as of publication.
- Whether the 6.00 sen dividend is the total declared for FY2024 or a single distribution.
Sources
- Sunway Berhad Posts Profit Before Tax of RM1.5 Billion With Record-High Revenue of RM7.9 Billion for FY2024 — Sunway Berhad
- GIC Invests RM750 Million in Sunway Healthcare — Sunway Berhad
- Sunway Healthcare ends Main Market debut 28% higher — The Edge Malaysia
- About SMCD — Sunway Medical Centre Damansara — Sunway Medical Centre Damansara
Change history
| Version | Date | Change | By |
|---|---|---|---|
| 01.00 | 28 Jul 2026 | Approved and published. | — |