Ikhmas Jaya active, up 4.76% on securing RM405m subcontract

KUALA LUMPUR (June 12): Ikhmas Jaya Group Bhd shares rose 4.76% in active trade this morning after the firm won a RM405 million subcontract for the construction and completion of LRT 3 from Bandar Utama to Johan Setia, Package GS09 — Guideway, Stations, Park and Ride, Ancillary Buildings and Other Associated Works.

At 9.20am, Ikhmas Jaya rose 1 sen to 22 sen with 6.43 million shares traded.

The 26-month sub-contract is expected to contribute positively to its earnings for FY19 to FY21 — with the win bringing total contracts secured in 2019 to RM875 million.

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