Marinate the beef in sugar, light soy sauce and cornflour slurry for 20 minutes.
Heat a large frying pan with 1 tablespoon oil over high heat. Fry the beef until 70% done, about 2-3 minutes, drain and set aside.
Heat the same frying pan with 1 tablespoon oil over high heat. Stir-fry the garlic until fragrant, 2-3 minutes. Add the onion and salt; cook until soft, about 3-4 minutes. Stir in the mushrooms and black pepper.
Add the red wine, water, tomato ketchup and sugar. Stir to mix and bring to the boil. Add the beef back into the pan and mix well. Serve with basil, if desired.