Incorporation and Activities
ICP was incorporated in Malaysia as a private limited company under the Companies Act,1965 on 6 April 1977 under the name of Industrial Concrete Products Sdn. Bhd. and was converted into a public limited company under the name of Industrial Concrete Products Sdn Bhd on 7 December 1995. It was listed on Bursa Malaysia (then Kuala Lumpur Stock Exchange) on 9 December 1996. In September 2008, IJM Corporation Berhad (IJM), the Holding Company made a voluntary general offer to acquire the remaining shares of the ICP which it did not owned and subsequently became a wholly-owned subsidiary of IJM. As a result of this, ICP was removed from the official list of Bursa Malaysia Securities Berhad on 10 December 2008. With effect from 16th March 2010, the Company's name was changed to "Industrial Concrete Products Sdn Bhd" from "Industrial Concrete Products Bhd".
ICP Group is engaged in the manufacturing and sale of Pretensioned Spun Concrete (PSC) piles, building materials, plant and machinery, quarrying, ready mixed concrete, pc bar, scaffolding renting and investment holding.
ICP itself is engaged in the manufacturing and sale of PSC piles. The sales of these products are normally carried out by selling directly to contractors in the construction industry. ICP also markets the products overseas, namely to countries in the ASEAN region, countries in the Indian Continents, the Middle East and America.
ICP was the first company in Malaysia to manufacture and market PSC piles for land based projects in place of traditional reinforced concrete piles (RC piles) and steel H-piles.
- The first factory was set up in September 1977 and was located in Bukit Tengah, Seberang Perai, Penang. The technology in the production of PSC piles was acquired from the joint venture between Jurutama Sdn Bhd (now a wholly-owned subsidiary of IJM Corporation Berhad) and Mitsui Construction Co Ltd, Japan. The joint venture was awarded the piling contract for the Prai Power Station, Phase III project which was successfully completed in 13 months; 2 months ahead of schedule by using PSC piles over the traditional square RC piles. Before the Prai Power Station project, PSC piles had been used in Malaysia only for harbour works.
- In 1981, a factory was set up in Shah Alam to cater for the Federal Highway II improvements work and also to cater for the Central Region of Peninsular Malaysia. This factory was later relocated to Klang in 1985.
- In 1982, ICP relocated its factory in Bukit Tengah, Seberang Perai, Penang to Prai Industrial Estate, Seberang Perai which has a larger land area and better infrastructures facilities.
- In 1987, ICP secured the supply contract from Shimizu Construction, the main contractor for the construction of Kuala Terengganu Bridge. Another factory was set up in Gong Badak, Kuala Terengganu to cater for the said project and thereafter to cater for the Eastern Region of Peninsular Malaysia.
- In 1988, ICP set up a marketing arm, ICP Marketing Sdn Bhd whose principal activities are the trading of PSC piles, building materials, plant and machinery and investment holding.
- Another factory in Kapar, Selangor was set up catering mainly to the heavy civil engineering projects such as wharfs, ports and power plants with a bitumen coating facility.
- During 1993, a fourth piles factory was set up in Lumut. This factory produces mainly large diameter piles ranging from Ø500 mm to Ø1200 mm with lengths up to 46 metres. This factory having its own jetty is able to handle all shipments by barge to overseas countries, Sabah and Sarawak.
- In 1994, ICP acquired two (2) factories located in Ipoh, Perak and Nilai, Negeri Sembilan to cater for the anticipated increase in demand for PSC piles.
- In June 1995, ICP install its first autoclave facilities in its Klang factory. With this facility, high strength concrete piles using autoclave technology will be able to be driven 48 hours after manufacturing thus providing greater efficiency to its customers.
- In June 1996, a second line of piles production was commissioned in Lumut factory. This production line produces mainly small to medium size piles ranging from Ø300 mm to Ø600 mm.
- In October 1996, ICP set up another factory in Jawi, Province Wellesley, Penang for the production of PSC piles. As a result of this addition, the factory in Prai was closed in November 1997.
- In September 1997, ICP installed two autoclave curing chambers in its Nilai factory.
- In October 1998, an additional pile production line was added in Kuala Terengganu factory.
- In May 2001, an additional pile production line was added in Jawi factory and installed its autoclave curing facility in September 2004.
- In August 2006, an eighth factory was commissioned in August 2006 in Lumut (Plant 3) which has the capability to produce Ø700 mm to Ø1200 mm piles with length up to 30 metres. This is due to the strong demand from overseas particularly large diameter long length ICP piles.
- In a bid to upward integrate its piles manufacturing activities, ICP set up a 100% owned subsidiary Durabon Sdn Bhd (DRB) on 24 June 2000 to process PC bars for its own consumption in the production of PSC piles.
- On 1 January 2002, ICP acquired Fututech Berhad's steel division in Senai, Johor which processes PC Bars and its subsidiary Ubon Steel Sdn Bhd (USSB). This strategic move was to enhance our existing PC bars processing line under DRB and thus be able to meet the 100% PC bars requirements of the piles business of ICP. DRB also supplies to other PSC piles producers in domestic and overseas markets. It has become the largest PC bars processing company in the country having two factories located in Senai, Johor and Klang, Selangor.
- On 21 December 2004, a 73% owned subsidiary, ICP Jiangmen Co Ltd (ICPJM) was incorporated to produce up to Ø1200mm piles with length up to 50 metres in Jiangmen, Guangdong Province of the People's Republic of China.
- On 22 August 2005, ICP acquired an additional 6% equity interest in ICPJM thus making it a 79% subsidiary of the company from 73% previously.
- On 30 November 2009, ICP completed the disposal of a 4% equity interest in ICPJM to Sapphire Plus Sdn Bhd , bringing down its shareholding to 75%.
- In May 2004 ICP became a subsidiary of IJM Corporation Bhd (IJM) after IJM acquired the entire block of shares owned by Hume Industries (Malaysia) Bhd and its related company. IJM then carried out a mandatory general offer. Following this, IJM injected Malaysian Rock Products Sdn Bhd and its group of companies (MRP Group) into ICP for RM110 million satisfied by 39,285,714 ICP ordinary shares of RM1.00 each in their rationalisation exercise and MRP Group became subsidiary of ICP on 18 January 2005. MRP’s major activity is in quarrying and its subsidiaries are involved in ready mixed concrete operations and scaffolding rental. With these additions to the group, now formed as the Industry Division of IJM, it has enhanced the group business activities to encompass a wide range of products which supports the construction sector of the economy.
- In December 2004, in an effort to further broaden our earnings base beyond our shores, MRP ventured into India by providing management services to IJM Concrete Products Pte Ltd (IJMCP) to set-up and operate a ready mixed concrete plant in Hyderabad.
- On 23 January 2006, ICPB (Mauritius) Ltd (ICPBM), a subsidiary of ICP acquired 1,000,000 shares of Rs10 each representing 100% equity interest in IJMCP from IJM (India) Infrastructure Limited (IJMII).
- February 2006 - Encouraged by the bright outlook of the Indian construction sector, a second plant in Bangalore (at Whitefield) was started.
- To tap the infrastructural requirements for the growing Information and Technology sector, improving property market and other government funded infrastructure activities another two plants were set up one in Yelahanka (in Bangalalore) in October 2006 and the other in Uppal (in Hyderabad) in December 2006.
- IJMCPPL has also expanded to another major city with the setting up of its 5th batching in Poonamalee,Chennai, south of India in March 2007 and the latest in Navi Mumbai which is the largest city in India in September 2009.
- In 2007, a second line was built in Kapar and the first line was closed due to ageing machinery.
- In January 2009, another factory was commissioned in Senai, Johore with the capability to produce Ø300 mm to Ø800 mm piles with length up to 18/12 metres to cater for the market in the southern area as well as for Singapore market.
- In November 2012, the existing Line 1 in Jawi was upgraded with the new automated equipment for improved efficiency.