IJM TO BUILD HSBC OFFICE FOR RM392MIL, COMPLETION EXPECTED BY DEC 2020

KUALA LUMPUR – IJM Corp Bhd is constructing an office building for HSBC Bank Malaysia Bhd in Kuala Lumpur city centre, at a contract sum of approximately RM392 million.

In a stock exchange filing this evening, IJM said its subsidiary IJM Construction Sdn Bhd was appointed by HSBC as the contractor for design, construction and completion works of the office building on Jalan Tun Razak.

Under the agreement signed today, IJM said the contract sum does not include lifts and façade works, which will be procured directly by HSBC.

 The completion of the project is 37.5 months, and is expected to be handed over to HSBC by December 2020.

It is worth noting that deputy non-executive chairman of IJM, Tan Sri Krishnan Tan Boon Seng is the independent chairman at HSBC Bank Malaysia Bhd.

IJM closed four sen or 1.26% higher today at RM3.21, giving it a market capitalisation of RM11.65 billion.

– http://www.theedgemarkets.com/

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