Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on April 20, 2018

KUALA LUMPUR: Ikhmas Jaya Group Bhd has secured a RM101.85 million contract for a flood mitigation project in Sungai Pendang, Kedah, from the irrigation and drainage department.

The group said it accepted the letter of award from the government yesterday, with a formal contract to be executed at a later date.

“The project consists of demolition and site clearance, piling works, upgrading of bridges, upstream works and improvement works,” Ikhmas Jaya said in a filing with Bursa Malaysia. It is expected to take 36 months to complete, beginning from the date of site possession.

Ikhmas Jaya said that the new project will boost its order book to RM900 million, and is expected to contribute positively to its revenue and earnings for the foreseeable future.

“We are thankful to be given the opportunity to work on this project and we are confident of delivering it on time and within budget,” said group managing director Datuk Ang Cheng Siong. “Moving forward, with the significant increase in order book and all our existing projects moving into the acceleration phase of the ‘S’ curve, we are confident of seeing further improvement in revenue and earnings barring any unforeseen circumstances,” he said.

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