Sunrise Bhd announced during an analyst briefing held yesterday that they will be moving away from its one-location property developer identity as the company goes into stage three of its growth plan.  Sunrise Bhd executive chairman Tong Kooi Ong said that the move to look beyond Mont’Kiara is needed to grow the company’s sales figures.

Sunrise recently entered into a joint-venture agreement with Sime Darby Property Bhd to develop a RM1 billion mixed commercial development project in Bukit Jelutong. The launch of the JV project is slated for launch in 2011.

Meanwhile, Sunrise will be launching three projects in 2010 namely 28 Mont’Kiara which was soft-launched in Dec 2009, Solaris Towers Kuala Lumpur and Richmond project in Vancouver, Canada. Since its soft launch, 28 Mont’Kiara received booking for over 150 units.

For 2011 and beyond, the property developer has lined up several projects and they include residential developments MK20 and MK22 in Mont’Kiara, Solaris 3 mixed development also in Mont’Kiara, a landed gated and guarded residential in Kajang, and Angkasaraya located just next to the Petronas Twin Towers.

Sunrise’s revenue dropped for the second quarter ended Dec 31 declined to RM158.32 million from RM203.14 million year-on-year (y-o-y) which was attributed mainly to the completion of Meridin in the previous financial period. Net profit slid to RM34.53 million from RM63.25 million from RM52.32 million y-o-y.