IJM Corp bags RM355.68mil construction contract



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KUALA LUMPUR (Nov 20): IJM Corp Bhd has secured a contract worth RM355.68 million from Utama Lodge Sdn Bhd, in relation to a proposed commercial development in Ara Damansara.

In a filing with Bursa Malaysia today, IJM said its wholly-owned subsidiary, IJM Construction Sdn Bhd, has accepted the Letter of Acceptance from Utama Lodge.

It said the contract is for the main building works for the proposed commercial development dubbed "The Potpourri" in Ara Damansara.

According to IJM Corp, it will be tasked to build eight blocks of 11 to 13-storey serviced apartments (712 units) on top of a 3-storey podium comprising of retail outlets, elevated and basement car parks, multi-level club house and rooftop recreational.

The construction period of the project is 28 months.

IJM Corp share price was down 9 sen or 1.32%, closing at RM6.72 today, with 2.66 million shares having changed hands. With the closing price, IJM has a market capitalisation of RM10.02 billion.