IJM unit clinches two building projects worth RM962m

• This strong project portfolio has strengthened IJM Construction's order book to RM7 billion, comprising high-profile private and public sector projects in building construction and civil engineering, ensuring near-term earnings visibility, said IJM.

KUALA LUMPUR (June 21): IJM Corp Bhd (KL:IJM) through its wholly owned unit IJM Construction Sdn Bhd has clinched two contracts totalling RM962.3 million.

The first contract, valued at RM584.3 million and awarded by Strategic Sonata Sdn Bhd, involves constructing Plot A of a logistics hub in Section 15, Shah Alam. The project is expected to be completed within 28 months from the commencement date on June 20, IJM said in a statement.

Meanwhile, the second contract, worth RM378 million, pertains to Phase 1 of a semiconductor manufacturing facility for Siliconware Precision Malaysia Sdn Bhd at Bandar Cassia Technology Park in Penang.

Siliconware Precision Malaysia is part of ASE Technology Holding Co Ltd, the world’s largest outsourced semiconductor assembly and test company.

The Phase 1 facility will include a four-storey production building with an office, a four-storey centralised utilities building, a four-storey warehouse building, a 33-kilovolt substation building, and a link bridge to support advanced semiconductor production. The construction is set to commence in May 2024 and be completed by October 2025.

IJM Corp chief executive officer and managing director Lee Chun Fai said rising demand in logistics, warehousing, data centres, and electrical and electronics manufacturing presents significant growth opportunities for the group’s future pipeline.

“Our strategic focus on these developments positions us effectively to capitalise on these opportunities. These contract wins demonstrate our ability to deliver complex, fast-track projects that meet the stringent requirements of high-tech industries. We are committed to providing robust infrastructure that supports technological advancements and sustainable development,” he said.

This strong project portfolio has strengthened IJM Construction's order book to RM7 billion, comprising high-profile private and public sector projects in building construction and civil engineering, ensuring near-term earnings visibility, said IJM.

Shares of IJM closed up eight sen or 2.74% at RM3 on Friday, giving the group a market capitalisation of RM10.94 billion.

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