Ikhmas Jaya bags RM62.4 mil contract

KUALA LUMPUR (May 2): Ikhmas Jaya Group Bhd has bagged a contract worth RM62.4 million from Pelaburan Hartanah Bhd to carry out site clearance, earthworks, piling (bore) and pile cap works for a mixed development in Kuala Terengganu.

In a filing with Bursa Malaysia today, Ikhmas Jaya said the contract work is expected to commence on May 9 this year, to be completed by May 8, 2018.

Ikhmas Jaya said the mixed development comprises six floors of a shopping complex, one floor of basement and 10 floors of parking lots at Lot PT 4286, Bandar, Daerah Kuala Terengganu, Terengganu.

The project is expected to contribute positively to its earnings and net assets for the financial years ending Dec 31, 2017 and 2018, said Ikhmas Jaya.

Shares in Ikhmas Jaya closed up half a sen or 0.75% at 67.5 sen today, for a market capitalisation of RM351 million. — theedgemarkets.com

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