news

Ikhmas Jaya bags RM188.6 mil structural works for BBCC development

KUALA LUMPUR (June 6): Ikhmas Jaya Group Bhd has bagged a RM188.6 million contract to undertake earthworks, piling, diaphragm and reinforced concrete works in the Bukit Bintang City Centre (BBCC) mixed development in Jalan Hang Tuah/Jalan Pudu here, where the former Pudu prison is located.

In a filing with Bursa Malaysia yesterday, Ikhmas Jaya said its wholly-owned subsidiary Ikhmas Jaya Sdn Bhd has received a letter of award from BBCC Development Sdn Bhd on the proposed project.

The contract encompasses works for an eight-storey entertainment hub, a multi-storey car park, a multistorey basement, a 43-storey office tower, a 27-storey hotel with 359 rooms, two connecting pedestrian bridges, a 47-storey apartment with 393 units, and a 35-storey apartment with 273 units.

The contract is expected to be completed within 24 months from Thursday.

“The project is expected to contribute positively to Ikhmas Jaya’s earnings and net assets for the financial years ending Dec 31, 2017 to 2019,” it added.

In a separate statement, Ikhmas Jaya said this is the fifth contract win for the group for the year, bringing its total outstanding order book to RM881.5 million to date. This year alone, Ikhmas Jaya has secured contracts worth RM333.3 million.

BBCC sits on 19.4 acres (7.85ha) of land and has a gross development value of RM8.7 billion to be developed over eight to 10 years. It is a joint development by UDA Holdings Bhd, Eco World Development Group Bhd and the Employees Provident Fund.

This article first appeared in The Edge Financial Daily, on June 6, 2017.

For more stories, download TheEdgeProperty.com pullout here for free.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. EPF minimum contribution rate reduction period extended until June 2022
  2. Gagasan Nadi Cergas to develop RM1b GDV affordable housing project in Selangor
  3. EPF expresses concern over retirement security of Malaysians as pandemic empties savings