PETALING JAYA: Analysts have raised their earnings projections for Sunway Bhd as the group, which is one of Malaysia’s largest conglomerates, enters financial year 2021 (FY21) with a bigger sales target and new property launch plans. TA Securities Research said it has revised its FY21 and FY22 earnings forecasts higher by 1.6% and 2.8%, respectively, to reflect the change in property sales assumptions. “The group is targeting new sales of RM1.6bil this year, underpinned by new projects worth RM2.8bil and other existing projects. “Of the RM2.8bil new launches, 60% comprise projects overseas, namely, Singapore (32%) and China (28%) with the balance 40% from the Klang Valley, ” the research house stated in a note.