KUALA LUMPUR (June 29): Ikhmas Jaya Group Bhd rose 3.57% today, after it had bagged a RM36 million contract for works at the proposed Setia City Mall Phase 2 retail development in Selangor yesterday.

At 2.02pm, the stock was up 2.5 sen or 3.57% to 72.5 sen, with 1.56 million shares traded, for a market capitalisation of RM374.4 million.

Year-to-date (YTD), the stock has surged 27.19%, from 57 sen.

In a filling with Bursa Malaysia yesterday, the group said its unit had accepted the letter of award to carry out site clearance, earthworks, piling and pile caps, ground slab and ancillary works for the project from Greenhill Resources Sdn Bhd — a joint venture between S P Setia Bhd and Asian Retail Investment Fund — developer of the Setia City Mall.

Ikhmas Jaya said its total outstanding order book currently stands at approximately RM903.9 million.

YTD, the group has secured contracts with an aggregate value of RM369.2 million. — theedgemarkets.com

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