IJM : secures two building contracts in Penang

IJM secures two building contracts in Penang

PETALING JAYA, 23 November2022 - Leading builder, IJM Construction Sdn. Bhd. ("IJM Construction"), a wholly owned subsidiary of IJM Corporation Berhad ("IJM") has secured two contracts for the construction of a manufacturing facility and a commercial tower in Penang worthRM422.18 million in total.

These job wins in Penang came on the heels of IJM securing two major contracts in Selangor last month - a RM831 million construction contract for a government hospital in Kapar and a RM150.8 million contract for the construction of an Inland Revenue Board (IRB) office tower in Shah Alam.

ASEMNew Chip Assembly and Testing Facility

IJM Constructionreceived a letter of award (LOA) fromASE Electronics (M) Sdn Bhd ("ASEM"), the Malaysian subsidiary of Advanced Semiconductor Engineering, Inc., leading global provider of semiconductor manufacturing services in assembly and test, for the construction of its new chip assembly and testing facility with a contract value of RM341.39 million.

Located in Penang's Bayan Lepas Free Industrial Zone, the construction of ASEM's new semiconductor assembly and testing facility will comprise two buildings (Plants 4 and 5) with a built-up area of 982,000 square feet. The two buildings will be constructed over two phases consisting of a six-storey production floor space, office space, multi-storey car parks, a link bridge as well as a centralised utility building base.

IJM Construction has taken possession of the project site following a ground-breaking ceremony which took place on 10 November 2022. The project is scheduled for completion in 2025.

"We are delighted that ASEM has chosen IJM Construction to deliver their building expansion project, riding on the rapid growth witnessed by the semiconductor industry. The client has called for green construction methods that emphasises ecological balance, conservation, and resource recycling and reuse to be adopted for the project. This aligns well with our Group's sustainability agenda and proven expertise in constructing green building projects in Malaysia," said Mr. Liew Hau Seng, Group CEO & Managing Director, IJM.

To date, IJM Construction has completed 26 green building projects while two projects are currently in progress.

Maritime Signature Commercial Tower

The other contract secured by IJM Construction is for the construction ofthe45-storey Maritime Signature commercial tower located at Karpal Singh Drive in Georgetown. Jurutama Sdn Bhd, a wholly owned subsidiary of IJM ConstructionreceivedtheLOA with a contract value of RM80.79 million from Bionic Development Sdn Bhd in October. Construction for the commercial tower comprising office suites, shop lots, duplex units and car parking podium is set to commence in December 2022 andwill be completed within 42months.

"Our solid track record for building construction has consistently enabled us to secure contracts from existing and new clients. These two job wins reaffirm IJM Construction's market leadership as the builder of choice in Penang," Mr. Liew added.

Among IJM Construction's ongoing construction projects in Penang includeMezzo residential tower, a 34-storey hotel and office tower, Waterfront Shoppes retail mall and Penang Waterfront Convention Centre at The Light City, Gelugor,as well as a factory expansion for leading electronics manufacturing firm, ViTrox Corporation Berhad's facility in Batu Kawan Industrial Park.

IJM Construction's order book remains healthy at RM4.8 billion, comprising a good mix of private and public sector as well as building construction and civil engineering projects that provide near-term earnings visibility.

"Despite continued economic uncertainty, the key markets in which IJM operates remain strong and with our continued policy of developing key strategic relationships with both our clients and supply chain, we are confident that the recent order book wins will place the company in a secure position for the future," said Mr Liew.

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Artist rendering of ASE Malaysia's new facility with a built-up area of 982,000 square feet in the Bayan Lepas Free Industrial Zone

About IJM Corporation Berhad

IJM Corporation Berhad ("IJM"), formed in 1983, is today one of Malaysia's leading construction groups and is listed on Bursa Malaysia. Its business activities encompass construction, property development, manufacturing and quarrying and infrastructure concessions.

Headquartered in Selangor, its operations are located in seven countries, with primary focus in Malaysia, and India. The Group presently has a market capitalisation of around RM5.5 billion and as of March 2022, the Group employed around 3,000 employees and had total assets of RM21.0 billion.

The Group's belief in a shared destiny with its employees remains pivotal to its growing success while its reputation for professionalism, performance and good governance is acknowledged by customers and investors alike from its numerous corporate and industry accolades. IJM is committed to ethical business conduct and subscribes to the principles of good corporate citizenship for sustainable growth and development.

For more information, visit www.ijm.com/">http://www.ijm.com/">www.ijm.com

For media enquiries, please contact:

Ms. Mandy Chen, Corporate Communications, at [e-mail] + 60 12 607 6121

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