Sunrise ... May10

It may consider injecting some of its property assets into a real estate investment trust as they begin to deliver stable income.

Sunrise, ranked ninth by market value among listed Malaysian developers, may consider a REIT "at a later stage".

Real estate investment trust (REIT) mainly invests in commercial property and pay most of the rent to shareholders as dividends, which are usually higher than yields of government bonds and offer capital gains if property prices rise.

Sunrise has not yet planned to enter the fast-growing markets of Vietnam and China. For the medium term, its overseas focus will be on Canada. It does not have plans for the moment to venture into Vietnam or China.

Later 2010, Sunrise plans to launch two projects -- an office tower project in the Malaysian capital as well as a residential project in Vancouver, Canada.

Sunrise shares trade at 6.57 times 2010 earnings, compared to Sunway City's 10.61 times, IJM Land's 24.98 times and Gamuda's 20.31 times.