KUALA LUMPUR: IJM Corp Bhd
’s wholly owned subsidiary, IJM Construction Sdn Bhd has secured a RM1.1bil contract from Malaysia Rapid Transit System Sdn Bhd (MRTS).
In a filing with Bursa Malaysia, IJM Corp said IJM Construction signed the letter of acceptance issued by Malaysia Rapid Transit System for the proposed design, construction and completion of Package 2A Immigration Customs and Quarantine Complex (ICQC) and Package 2B ICQC External Works for Rapid Transit System Link Johor Bahru – Singapore (RTS Link Project).
“The total contract sum for the RTS Link Project is RM1.1bil and provisional sum of RM155mil, which shall be inclusive of the prevailing sales and services tax,” IJM said.
It added that the RTS Link Project is expected to be completed by Dec 30, 2026.
The construction group said the RTS Link Project would not have any effect on its share capital and substantial shareholders’ shareholding of IJM.
“The RTS Link Project is not expected to have any immediate material effect on the earnings per share, net assets per share and gearing of IJM Group for the financial year ending March 31, 2024.
“However, barring any unforeseen circumstances, the RTS Link Project is expected to contribute to the future earnings of IJM Group,” it said.
