GIC trims stake in Malaysia's Sunway

Singapore

SINGAPORE'S sovereign wealth fund GIC Pte said that it is selling a stake in Malaysian property development and construction company Sunway Bhd.

The block sale is part of GIC's regular rebalancing of its portfolio, the state fund said in an e-mailed statement yesterday.

Shares in Sunway, which gained 52 per cent over the past 12 months, closed at RM2.94 (S$1.15), down 10 sen or 3.3 per cent, in K…