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IJM Corp secures RM530m construction contract in TRX

KUALA LUMPUR (March 10): IJM Corp Bhd has won a RM530 million contract for the construction of The Exchange TRX’s residential component in Tun Razak Exchange (TRX).

IJM Corp said the contract was awarded to its wholly-owned subsidiary IJM Construction Sdn Bhd, by LQ Residential 1 Sdn Bhd, a joint venture between international property and infrastructure group Lendlease and TRX master developer TRX City Sdn Bhd.

IJM Construction will undertake the superstructure works of two blocks of serviced apartments known as “TRX Residences. The two towers of 53 and 57 storeys each, will have a total of 443 units and 453 units respectively.

TRX Residences also includes residential facilities, seven levels of podium and elevated car park, a mezzanine floor, one level of commercial space at ground floor and two levels of basement car park, IJM Corp said in a statement. 

“TRX Residences is a great fourth addition to IJM’s portfolio of iconic projects in TRX and an acknowledgement of our extensive expertise in high-rise building construction projects,” IJM Corp group chief executive officer and managing director Liew Hau Seng said in a statement.

IJM is currently undertaking the construction of HSBC Malaysia's and Affin Bank’s new headquarters, scheduled for completion by end-2020. Menara Prudential, which IJM developed and owns, was completed in May 2019 and is 81% tenanted. 

Including the TRX Residences project, IJM Corp’s outstanding construction order book stands at around RM5 billion.

IJM Corp shares closed four sen or 2.17% down at RM1.80 today, valuing the group at RM6.53 billion.

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