Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on June 12, 2019

KUALA LUMPUR: Ikhmas Jaya Group Bhd landed a sub-contract valued at RM405 million, bringing its total contracts secured so far in 2019 to RM875 million.

In a filing with Bursa Malaysia yesterday, Ikhmas Jaya said its unit Ikhmas Jaya Sdn Bhd had accepted a letter of award from Pembinaan Jaya Zira Sdn Bhd for sub-contract works for the construction and completion of the Light Rail Transit line 3 from Bandar Utama to Johan Setia, Package GS09 — Guideway, stations, park and ride, ancillary buildings and other associated works.

Ikhmas Jaya said the sub-contract’s duration is 26 months. The group said the sub-contract is expected to contribute positively to its earnings for financial years ending Dec 31, 2019 until Dec 31, 2021.

Ikhmas Jaya shares rose two sen to 21 sen yesterday, with a market capitalisation of RM114.52 million.

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