IJM Corp anticipates the project would contribute to its future earnings.
PETALING JAYA: IJM Corp Bhd
, via its wholly owned subsidiary IJM Construction Sdn Bhd, has clinched a RM1.1bil job from Malaysia Rapid Transit System Sdn Bhd (MRTS).
In a filing with Bursa Malaysia, the company said that IJM Construction has signed the letter of acceptance for the proposed design, construction and completion of Package 2A Immigration Customs and Quarantine Complex (ICQC) and Package 2B ICQC External Works for Rapid Transit System Link (RTS Link) project connecting Johor Bahru to Singapore.
The RTS Link project, which has a provisional sum of RM155mil, is scheduled to be completed by Dec 30, 2026.
IJM Corp said the RTS Link project is subject to the normal construction risk of material price fluctuations but such risks could be mitigated based on its experience and expertise.
It anticipated the project to contribute to its future earnings but would not have any immediate material effect on the group’s earnings per share, net assets per share and gearing for the financial year ending Mar 31, 2024.
The four-km RTS Link will cross the Straits of Johor, linking the Bukit Chagar Station in Johor Baru to the RTS Link Woodlands North Station in Singapore.
The RTS Link project is expected to pull in 35% of the 350,000 people who travel across the Johor Causeway daily.
