Ikhmas Jaya wins RM166.4mil contract from Bina Puri group

KUALA LUMPUR: Piling and foundation specialist Ikhmas Jaya Group Bhd has clinched a RM166.4mil contract from the Bina Puri Holdings group to build two serviced apartment blocks in Kampung Attap, Kuala Lumpur.

Ikhmas Jaya, which also does superstructure works for buildings, told Bursa Malaysia that the contract for 357-unit project located along Jalan Talalla, would be completed by June 1, 2018.

The contract was awarded by Bina Puri’s 95% owned indirect subsidiary Star Effort Sdn Bhd.

It is not clear in the statement whether the scope of works would involve only foundation or superstructure works.

Ikhmas Jaya said the project was expected to contribute positively to the group’s earnings and net assets for the financial year ending Dec 31, 2016.

It was reported in 2014 that Bina Puri planned to build a 32-storey, 357-unit serviced apartment project along Jalan Talalla called Opus, with a gross development value of RM370mil.

Ikhmas Jaya shares shed 1 sen to close at 66.5 sen on Monday.