This contract is deemed as a recurrent related party transaction, as Datuk Tee Eng Ho, the non-independent non-executive chairman and major shareholder of Kerjaya Prospek, also serves as the executive chairman and major shareholder of Eastern & Oriental Bhd.
The LRT system is part of the Penang Transport Master Plan (PTMP), which includes an integrated network of transportation solutions.
“This project not only strengthens our order book, but also aligns with our commitment to environmental, social, and governance principles.
Courtyard Homes will have a built-up size from 6,649 sq ft and the selling price starts from RM6.
The 30-month projects entails the addition of seven units to the existing four of a two-storey heritage building, and the conversion of two units from residential to commercial, as well as the construction of a 29-storey serviced apartment building in George Town, Penang.
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.
The new 20,000-square-foot design centre will focus on the development of next generation high-speed digital and analog instrumentation.
The planned launches consist of The Lume, a 261-unit residential condominium with a GDV of RM689 million, Marina, a serviced apartment project with an estimated GDV of over RM600 million and phase two of Senna and Fera, a 68-unit landed home project with an estimated GDV of nearly RM300 million, its managing director Kok Tuck Cheong told a press conference after the company’s 4QFY2024 result briefing on Tuesday.
The proposed acquisition is in line with the company’s goal to build more affordable homes towards its objective of completing 50,000 affordable homes throughout the nation by 2028.
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