Ikhmas Jaya surges 17.14% after unit lands jobs worth RM257.72m

KUALA LUMPUR (April 10): Ikhmas Jaya Group Bhd shares surged 17.14% in early trade this morning after its wholly-owned Ikhmas Jaya Sdn Bhd secured two construction projects with a combined value of RM257.72 million.

At 9.07am, Ikhmas Jaya rose 6 sen to 41 sen with 189,900 shares done.

Under the first contract awarded by Naluri Rezeki Sdn Bhd, Ikhmas Jaya, as the appointed turnkey contractor, will design, construct, test, commission, maintain and complete upgrading works of the hospital within 36 months, on a design-and-build basis.

The second contract — awarded by Putrajaya Ventures Sdn Bhd — includes demolition works of the existing three-storey office building with two basement levels, and a two-storey bungalow on Lot 155, Jalan Ampang, Kuala Lumpur.

Ikhmas Jaya will then construct and complete the substructure works comprising two basement car park levels, as well as, partially, the first floor and associated works there, all within 18 months.

Both projects are expected to contribute positively to the group’s earnings and net assets for the financial year ending Dec 31, 2018.  —

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