IJM Construction secures two building contracts worth RM422.18m in Penang

KUALA LUMPUR, Nov 23 — IJM Construction Sdn Bhd, a wholly owned subsidiary of IJM Corporation Bhd (IJM) has secured two contracts for the construction of a manufacturing facility and a commercial tower in Penang with total value of RM422.18 million.

In a statement today, IJM said that IJM Construction received a letter of award (LOA) from ASE Electronics (M) Sdn Bhd (ASEM) for the construction of its new chip assembly and testing facility with a contract value of RM341.39 million.

Located Penang’s Bayan Lepas Free Industrial Zone, the construction of ASEM’s new semiconductor assembly and testing facility will comprise two buildings with a built-up area of 982,000 square feet, consisting of a six-storey production floor space, office space, multi-storey car parks, a link bridge as well as a centralised utility building base, the statement said.

The project is scheduled for completion in 2025.

The second contract is for the construction of a 45-storey Maritime Signature commercial tower at Karpal Singh Drive in Georgetown comprising office suites, shop lots, duplex units and car parking podium valued at RM80.79 million.

The project is set to commence in December 2022 and will be completed within 42 months.

IJM Construction’s wholly owned subsidiary Jurutama Sdn Bhd received the award from Bionic Development Sdn Bhd in October.

The statement said IJM Construction’s order book remains healthy at RM4.8 billion, comprising a good mix of private and public sector jobs, as well as building construction and civil engineering projects that provide near-term earnings visibility.

IJM group chief executive officer and managing director Liew Hau Seng said the key markets in which IJM operates remain strong despite continued economic uncertainty.

“With our continued policy of developing key strategic relationships with both our clients and supply chain, we are confident that the recent order book wins will place the company in a secure position for the future,” he said.

IJM shares traded one sen higher at RM1.49, with 1.63 million shares changing hands. — Bernama