IJM secures RM1.23 billion semiconductor construction award in Kedah
The contract lifts IJM Construction’s outstanding order book to RM10.6 billion, with work scheduled to begin in the fourth quarter of 2026.
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The contract lifts IJM Construction’s outstanding order book to RM10.6 billion, with work scheduled to begin in the fourth quarter of 2026.
The five-year subscription and maintenance agreement is expected to run from Sept 1, 2027 to Aug 31, 2032.
The steel maker seeks to enter power infrastructure and data centre construction, with a separate placement expected to raise up to RM5.78 million.
The group and a CapitaLand Investment-managed entity have submitted a joint expression of interest, with due diligence and exclusive negotiations under way.
The substation contract forms part of purchase orders worth RM59.07 million in total, with completion expected within 21 months from the Letter of Award.
Ocean Vantage intends to buy the remaining 13.33% stake for RM2 million under a separate, inter-conditional transaction.
Mercury Securities values the company at RM4.13 per share, but says limited trading and a premium to past prices support accepting the offer.
Ng’s acting appointment began on Oct 1, with her executive director role at RAM Ratings effective Oct 15.
The agreement covers 165 million offer units, while the full IPO comprises up to 2.2 billion units.
Matrade is targeting RM12 billion in export sales through 200 activities planned for 2027.