IJM Corp unit bags RM484.2 mil contract for works in Johor

KUALA LUMPUR (Jan 15) : IJM Construction Sdn Bhd, a wholly-owned unit of IJM Corp Bhd, has clinched a RM484.2 million contract for external and landscaping works for Almãs, a mixed-use development in Puteri Harbour, Johor.

In a bourse filing, IJM Corp said IJM Construction had accepted a letter of award issued by UEM Land Bhd for the main building works for Phase 1A and Phase 1B of the development.

UEM Land is a wholly-owned unit of UEM Sunrise Bhd, the developer of Almãs.

The project involves structural, architectural, mechanical and electrical works, besides associated external and landscaping works for the two phases.

Phase 1A comprises two levels of basement car park, five levels of elevated car park, one level of recreational facilities and one 34-storey executive suite tower (Block C).

The works for Phase 1A are expected to be completed in 34 months, and the job is valued at RM240.35 million. Phase 1B comprises five levels of elevated car park and two blocks of office tower (Blocks A and B). The works for Phase 1B are expected to be completed in 25 months, and the contract sum is RM243.85 million.

IJM Corp shares closed unchanged at RM3.36 yesterday, valuing it at RM12.02 billion. UEM Sunrise shed two sen to close at RM1.04, with a market value of RM4.72 billion.

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This article first appeared in The Edge Financial Daily, on Jan 15, 2016. Subscribe to The Edge Financial Daily here.