IJM Corp and Sunway set up four-party consortium for KL-Singapore High Speed Rail

KUALA LUMPUR (Dec 5): IJM Corp Bhd announced today its wholly-owned IJM Construction Sdn Bhd has entered into a pre-bid agreement with three companies to participate in the tender for the Kuala Lumpur-Singapore High Speed Rail (HSR) project.

The agreement was signed last Wednesday with Sunway Construction Sdn Bhd, Jalinan Rejang Sdn Bhd and Maltimur Resources Sdn Bhd, with a consortium set up on an equal shareholding of 25% each, said IJM Corp in its filing with the stock exchange this evening.

These companies are to work with each other on an exclusive basis in tendering for the project delivery partner of the HSR, and undertake the project in the event the bid is successful, it added.

IJM said it will make announcements to the stock exchange if the consortium has successfully secured the project.

Shares in IJM Corp fell 19 sen or 6.15% to close at RM2.90 yesterday after seeing some 9.13 million shares exchanged, giving it a market capitalisation of RM10.52 billion. — theedgemarkets.com

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