IJM unit wins RM600mil job

IJM Corp Bhd’s wholly owned subsidiary Road Builder (M) Sdn Bhd has received a letter of award from another subsidiary, Besraya (M) Sdn Bhd, to extend the Besraya Highway for a fixed sum of RM600mil.

The construction period for the project, known as Sungai Besi highway link, was 36 months, the company told Bursa Malaysia yesterday.

This is a good catalyst for IJM to jump. Currently, there an IJM warrant, IJM-WB listed on KLSE. IJM-WB is at a discount of around 2% and gearing of 4.5.

Good luck.

GOon