IJM Construction bags three contracts totalling RM680 million
PETALING JAYA, 26 November 2021 – Leading builder, IJM Construction Sdn Bhd (“IJM Construction”), a wholly owned subsidiary of IJM Corporation Berhad (“IJM” or “the Group), has secured three construction contracts worth RM680 million: two residential high-rise developments in Kuala Lumpur and a factory in Penang.
Through the first RM242.4 million contract from JKG Central Park Sdn Bhd, a wholly owned subsidiary of property developer, JKG Land Bhd, IJM Construction will be responsible for the construction of two tower blocks of service apartments. The project involves the construction of a 57-storey service apartment with 467 units and a 59-storey service apartment with 489 units, associated recreational facilities such as retail space, carpark podiums and a basement carpark. The service apartments make up Phase 2 of JKG Land’s flagship The ERA @ Duta North mixed development project located in Segambut. Construction has commenced this month and is scheduled for completion within 38 months in December 2024.
The second contract, valued at RM55.0 million, is for a factory expansion project in Batu Kawan, Penang for leading global electronics manufacturing services firm, Hotayi Electronic (M) Sdn Bhd. Construction for the 190,000 sq. feet production facility and warehouse commenced in October and is scheduled for completion within 6.5 months in April next year.
The third contract for a contract sum of RM382.8 million, awarded by Sime Darby Property (KLGCC Resort) Sdn Bhd, will see IJM Construction build two 41-storey luxury residential towers for the developer’s Jendela Residences within the KLGCC Resort township in Bukit Kiara. Each tower comprises 266 and 254 residential units respectively, five floors of carpark podium, three levels of underground basement, mechanical & electrical facilities, as well as associated recreational facilities. The project will take about 31 months to complete from its scheduled commencement from April 2022 to November 2024.
“We are glad that our solid track record for building construction has consistently enabled us to secure contracts from existing and new clients. We are delighted that JKG Land has once again chosen IJM Construction to deliver its flagship The ERA @ Duta North development, following our successful completion of the JKG Tower skyscraper in 2016. I would also like to thank Hotayi for giving us the opportunity to be part of their plant expansion project and Sime Darby Property Berhad for entrusting us with building their prestigious Jendela Residences development,” said Mr Liew Hau Seng, CEO & Managing Director, IJM Corporation Berhad.
“We will continue to bring our expertise to these three projects, constructing them safely, efficiently and sustainably in order to successfully deliver these high-end residential and industrial projects for our clients. Meanwhile, we will continue to stay focused on delivering our existing projects, while actively pursuing tenders for quality projects,” he added.
These three contract awards bring IJM Construction’s year-to-date contracts won to eight projects worth RM1.34 billion for its financial year ending 31 March 2022. As at end-June 2021, the outstanding order book of IJM’s Construction Division remains healthy at approximately RM4.0 billion, comprising a good mix of private and public sector as well as building construction and civil engineering projects that provide near-term earnings visibility. Major projects secured by division in the Group’s current financial year include infrastructure works at Tun Razak Exchange (TRX), Kuala Lumpur, substructure works at the Sungai Pahang Bridge section of the East Coast Rail Link (ECRL) and the Mezzo residential tower at The Light City, Gelugor, Penang.
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About IJM Corporation Berhad
IJM Corporation Berhad (“IJM”), formed in 1983, is one of Malaysia’s leading construction groups and is listed on Bursa Malaysia. Its business activities encompass construction, property development, manufacturing and quarrying, infrastructure concessions and plantations.
Headquartered in Selangor, its operations are located in 8 countries, with primary focus in Malaysia, India and Indonesia. The Group presently has a market capitalisation of around RM6.5 billion and as of March 2021, the Group employed around 4,000 employees and had total assets of RM23.5 billion.
The Group’s belief in a shared destiny with its employees remains pivotal to its growing success while its reputation for professionalism, performance and good governance is acknowledged by customers and investors alike from its numerous corporate and industry accolades. IJM is committed to ethical business conduct and subscribes to the principles of good corporate citizenship for sustainable growth and development.For more information, visit www.ijm.com
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