IJM Corp lands two contracts with combined value of RM327.6 million

KUALA LUMPUR (April 28): IJM Construction Sdn Bhd, a wholly owned subsidiary of IJM Corp Bhd, has secured two contracts with a combined value of RM327.6 million.

The group got a RM89.8 million contract to construct the building infrastructure and public realm works in Tun Razak Exchange (TRX), Kuala Lumpur. In addition, it was also granted a RM237.8 million contract for the construction of the Mezzo residential tower in The Light City, Penang.

The TRX contract awarded by TRX City Sdn Bhd in March is to complete civil and structural works in the international financial district. Work is expected to start immediately and be completed in 14 months.

The contract adds to IJM Construction's order book for projects to be completed within TRX. Other projects include HSBC Malaysia and Affin Bank's new headquarters and TRX Residences, according to IJM Construction.

According to IJM, the Mezzo residential tower contract in The Light City was awarded by Jaringan Simfoni Sdn Bhd, a wholly owned subsidiary of The Light City's developer, IJM Perennial Development Sdn Bhd — a joint venture between IJM and Perennial Holdings Pte Ltd, a Singapore-based integrated real estate and healthcare company.

"Construction work is scheduled to commence in June this year and is expected to be completed within 42 months in November 2024."

IJM Construction also has three other contracts in Penang:
• RM140 million contract to build a 24-storey hotel with a 10-storey podium for commercial lots and car park in Butterworth.
• RM864.7 million contract for the construction and development of The Waterfront Shoppes, an 11-storey retail mall and the Penang Waterfront Convention Centre.
• RM314.8 million contract to build a 34-storey hotel and office tower in The Light City.

IJM Corp's share price went up three sen to RM1.90 today with 1.66 million shares changing hands.

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