IJM Corp’s 4Q net profit falls almost 30% on credit loss from West Coast Expressway
For the quarter, IJM said construction revenue grew 60.
For the quarter, IJM said construction revenue grew 60.
The land has yet to be vacated till now, WCE said, causing the connection between Section 2 and 4 of the expressway to be delayed.
Of the West Coast Expressway’s 11 sections, eight have been completed and begun operations — the most recent being Section 2, which commenced in January this year.
WCE Holdings updated that the construction of Section 11 of the WCE project has been completed and is currently at the inspection stage.
IJM Construction has allegedly refused, failed and/or neglected to pay the outstanding sum despite Citaglobal Land completing its contractual obligations, said Citaglobal.
Part of the WCE (233km) is implemented privately by West Coast Expressway Sdn Bhd, while 83km of the alignment work is financed by government funds.
Meanwhile IJM Properties, which currently own 60% in RPSB, will wholly-own the company as IJM seeks to commensurate Bandar Rimbayu, first launched in 2013, as a flagship township development.
"As we move forward, our capabilities to cater for higher production volume certainly bodes well with the optimistic backdrop of the expected rising steel consumption driven by the recovery in manufacturing and construction industries.
Built at a cost of RM5.
KUALA LUMPUR (April 26): Piling and foundation outfit Aneka Jaringan Holdings Bhd has secured a RM77.