Latest news with #IJM
The Hindu
3 days ago
- Politics
- The Hindu
‘Needed a robust system to protect legal rights of victims of human trafficking, bonded labour'
Director of Prosecution B. Ramakoteswara Rao on Saturday called for evolution of a robust system that would protect the legal rights of victims of sexual exploitation and bonded labour, and emphasised the need for prosecutors to approach such cases with empathy towards the victims. Also, he highlighted the importance of eliminating the gaps in evidence in the slavery and human trafficking cases in order to speed up the legal processes. Inaugurating a zonal workshop on Human Trafficking and Bonded Labour System (Abolition) Act of 1976, jointly organised by the Directorate of Prosecution and International Justice Mission (IJM), here, Mr. Ramakoteswara Rao said the role of prosecutors was not only to ensure stringent punishment for the offenders but also to facilitate legal rehabilitation of the victims, and suggested that the legal process should be centered around the victims, and pointed out that true success lay not in winning the cases but in delivering justice to them (the victims). IJM State Program Director Clement David said the prosecutors who raise their voice on behalf of the victims were the true torchbearers of social change, and that such sessions should strengthen the humanitarian perspective. Deputy Directors of Prosecution M.K. Vijayalakshmi (Krishna district), Barkath Ali Khan (Guntur) and Nakka Sharada Mani (West Godavari), Jeevanjwala Association general secretary K. Thenmozhi and others were present.
New Straits Times
4 days ago
- Automotive
- New Straits Times
IJM extends sustainability winning streak, bags three at CSR Malaysia Awards
KUALA LUMPUR: IJM Corp Bhd continued its winning streak in sustainability leadership after securing three major accolades at the 10th Sustainability and CSR Malaysia Awards 2025. In a statement, IJM said the company's commitment to responsible highway management and impactful community engagement was recognised with two significant awards for its managed highways. Lebuhraya Kajang-Seremban (LEKAS) was named Company of the Year for highway management, community and social care, while Lebuhraya Baru Pantai (NPE) received the Company of the Year for highway management, sustainability and community care award. Among NPE's key initiatives was the IJM Allianz Duo Highway Challenge 2024, aimed at promoting active lifestyles and encouraging safer, healthier community interaction with toll highways. Meanwhile, LEKAS was lauded for its role in organising the RHB LEKAS Highway Ride 2024 and supporting the Paralympic Council Malaysia's TambahEMAS Paris 2024 Campaign, which contributes to the development of national para-athletes. IJM toll division chief executive officer Wan Salwani Wan Yusoff was also honoured with the Asia Sustainability Personality Award (ESG Leadership) for her outstanding leadership and contributions to Malaysia's socio-economic transformation. She had previously received the Sustainability and Corporate Social Responsibility (CSR) Malaysia Personality of the Year (ESG Leadership Award) in 2024. Wan Salwani said sustainability is integral to its business strategy and critical for IJM's long-term success and nation-building efforts. She said the company's initiatives across Besraya, NPE, and LEKAS Highways are designed to create shared value, from promoting healthy lifestyles to uplifting underprivileged communities and supporting national athletes. "We recognise that continuous engagement with our stakeholders – communities, government, employees, and partners – is essential in driving meaningful impact," she added. The awards, judged by a panel of corporate and social leaders, recognise impactful and transparent CSR initiatives advancing Malaysia's sustainability agenda.
New Straits Times
6 days ago
- Business
- New Straits Times
Gamuda, IJM, Sunway seen as top bidders for RM10bil Selangor data centre contracts
KUALA LUMPUR: Gamuda Bhd, IJM Corp Bhd, and Sunway Construction Group Bhd have emerged as leading contenders for four upcoming data centre projects in Selangor worth a combined RM10 billion. Eco World Development Group Bhd and Sime Darby Property Bhd have each tendered out two data centre contracts. Eco World's projects, totalling 360 MW, are set in Eco Business Park V, Puncak Alam, while Sime Darby Property's 160 MW facilities will be located in Elmina Business Park, Sungai Buloh. Maybank Investment Bank (Maybank IB) said each data centre job – valued at RM1 billion to RM2 billion – has attracted five to six bidders. "Despite the prospect of the United States restricting the shipment of AI chips to Malaysia, we understand that Eco World, Sime Darby Property and Pearl Computing will award four data centre jobs totalling about 500MW over the next two months. "We estimate that they will yield about RM10 billion of jobs and believe that they will be awarded to more than one winner," Maybank IB said. It said that Gamuda, IJM, and Sunway are seen as strong candidates, thanks to their industrialised building system (IBS) capabilities, which support faster construction using precast panels. Maybank IB added that all three hope to win at least one data centre job from the four tenders, which could add to their job win target this year. Gamuda is targeting RM20–25 billion in job wins for FY2026, IJM RM6–8 billion, and Sunway RM4.5–6 billion. Gamuda is seen as the frontrunner, given its strong IBS capabilities, followed by IJM with its large-scale IBS manufacturing capacity. Sunway ranks third, constrained by smaller IBS output but standing out for its track record and scale in data centre construction. "In our view, Sunway is handicapped relative to Gamuda and IJM due to its relatively smaller IBS manufacturing capacity. This is probably why Sunway is bidding for only three of the four data centre job tenders. "We also believe it is under pressure to secure at least one data centre job win from Pearl Computing, as we understand that most of its data centre jobs thus far have been for co-location data centres which lease space, power, and cooling for their servers and networking equipment to, ostensibly, Chinese clients and are thus the main targets of the potential restriction in the shipment of AI chips to Malaysia." Despite that, Sunway leads in experience. As of May 31, 2025, data centres account for 51 per cent of its RM7.9 billion order book and 54 per cent of its RM3.5 billion in year-to-date job wins. It has completed 84 MW in data centres and is building another 170 MW – more than Gamuda or IJM. "We understand that the latest data centre job awarded to it of RM1.2 billion in May 2025 is from a Magnificent Seven company (Alphabet/Google, Amazon, Apple, Meta Platforms, Microsoft, NVIDIA, and Tesla), which testifies to its growing recognition within the data centre construction space," Maybank IB said. IJM, meanwhile, is completing three data centres in Johor, which Maybank IB said could have strengthened its Selangor bids had they been completed earlier. Still, its strong IBS facility remains a key advantage. That said, Maybank Ib believes that its well-regarded IBS facility gives it a large advantage, especially over Sunway, whose IBS facilities are a lot smaller. "All four data centres will be leased to Pearl Computing, which we understand is backed by an American search engine giant, which is probably why they do not fear the potential restriction in the shipment of AI chips to Malaysia," Maybank IB said. Pearl Computing already has a presence in Malaysia. In May 2024, it awarded Gamuda an RM815 million contract for core and shell works and another RM928.6 million for MEP works at a data centre in Elmina Business Park (80 MW total capacity). "We understand that the capacity of data centre 1 is 80 MW. Thus, the total job wins above of RM1.74 billion translates into a benchmark of RM22 million per megawatt," Maybank IB said. Based on a conservative RM20 million/MW benchmark and the 500 MW combined capacity of the upcoming projects, Maybank IB estimates RM10 billion worth of contracts will be awarded – RM5 billion for core and shell (to be awarded by Eco World and Sime Darby Property) and RM5 billion for MEP works (to be awarded by Pearl Computing). Assuming a 10 per cent pre-tax margin, the industry could potentially generate RM1 billion in pre-tax profits from these jobs, with results expected in the next two months, Maybank IB said.
New Straits Times
7 days ago
- Business
- New Straits Times
IJM approached to invest in Prolintas
KUALA LUMPUR: IJM Corp Bhd has been approached to invest in Permodalan Nasional Bhd's (PNB) toll road assets under Projek Lintasan Kota Holdings Sdn Bhd (Prolintas), sources said. PNB had reached out to IJM to do a due diligence on the prospect, they added. Instead of an outright sale of Prolintas to investors, they said PNB might offer Prolintas' controling stake in Prolintas Infra Business Trust, which was listed on the Main Market of Bursa Malaysia on March 25 last year. PNB reportedly was considering selling Prolintas in a deal that could be worth RM3 billion. It had reached out to potential investors, including industry players and private equity firms, to gauge initial interest. In its reply to Business Times today, PNB said: "For now, we have nothing further to share beyond what we have officially shared with Bloomberg. They have captured our official statement in their article. "As a long-term investor committed to delivering sustainable returns, PNB regularly reviews its investment portfolio for opportunities to enhance value, including potential divestments or strategic repositioning. "All decisions are guided by a rigorous governance process aligned with our investment objectives. It is PNB's policy not to comment on market speculation or rumours," it added. Prolintas operates a network of six major highways in the Klang Valley. They are Ampang-Kuala Lumpur Elevated Highway (Akleh), Guthrie Corridor Expressway (GCE), Kemuning-Shah Alam Highway (LKSA), Kajang Dispersal Link Expressway (Silk), Sungai Besi-Ulu Klang Elevated Expressway (Suke) and Damansara-Shah Alam Elevated Expressway (Dash). Four of the highway assets are parked under Prolintas Infra Business Trust, which was listed on the Main Market of Bursa Malaysia on March 25 last year. The trust manages Akleh, GCE, LKSA and Silk with Prolintas holding a controlling 51.02 per cent stake. Other notable unitholders include the Employees Provident Fund with 7.78 per cent, Urusharta Jamaah Sdn Bhd with 5.78 per cent and Lembaga Tabung Haji with 5.45 per cent. IJM, meanwhile, operates a slew of toll highways namely Lebuhraya Sungai Besi (Besraya), New Pantai Expressway (NPE), Lebuhraya Kajang-Seremban (Lekas) and West Coast Expressway (WCE). The company's toll division is currently unprofitable, but its medium to long-term outlook is bright, according to some industry observers. Once impairment and forex issues ease, IJM's core local toll operations are forecast to contribute steady, recurring income, they added. The division recorded a pre-tax loss of RM0.1 million in the year ended March 31 2025. This was primarily due to a RM54 million impairment related to the WCE and share of losses from overseas associates amounting to RM66.7 million. Last month, IJM's wholly-owned New Pantai Expressway Sdn Bhd received approval from the Works Ministry to proceed with the RM1.4 billion construction of the NPE Extension. NPE will undertake a 15-kilometre elevated highway extension, including the construction of one new toll plaza.
The Star
14-07-2025
- Business
- The Star
Strong second half forecast for builders
PETALING JAYA: The construction sector will continue its upcycle into the second half of this year, supported by both public infrastructure and private sector developments, analysts say. After a lacklustre start to the year, sentiment in the construction sector rebounded strongly in the second quarter, said Kenanga Research. Although the timeline for the mass rapid transit three or MRT3 project in the Klang Valley remains uncertain, several key projects are progressing, including packages two and three for the Penang light rail transit (LRT) project's Mutiara Line and the Penang Airport expansion. Others include the second phase of the Pan Borneo Highway, Sabah-Sarawak Link Road, the Subang Airport redevelopment plan and the Johor transit project. It said the high-profile KL-Singapore high-speed rail project remains a medium-term catalyst. Beyond data centres, industrial developments such as semiconductor foundries could support further private-sector growth. The research house maintains its assumption of average annual contract awards at RM180bil for 2024 to 2026. As of end-May 2025, RM75.5bil in main contractor construction contracts had already been awarded, compared with RM226.5bil in total awards for last year, the research house said, citing the Construction Industry Development Board. The research house retained its 'overweight' call on the sector. It said all stocks under its coverage were rated 'outperform', except Sunway Construction Group Bhd , for which it has a 'market perform' call and a target price of RM5.94 a share. Its top picks are Gamuda Bhd and IJM Corp Bhd , as large caps tend to outperform during sector upcycles. It said it also likes Gamuda for its leadership in the Penang LRT Mutiara Line, its success in securing overseas projects, strong earnings visibility backed by a record RM37bil order book, and its expansion into the renewable energy space. It also favours IJM for its potential participation in the Penang LRT work due to past project involvement, strong earnings visibility with a RM6.6bil domestic order book and RM1.5bil in new property sales, and Kuantan Port's strategic role in east coast trade flows. The potential divestment of IJM's toll road assets may improve its balance sheet and act as a re-rating catalyst. Among mid-caps, the research house said Kerjaya Prospek Group Bhd , with an 'outperform' rating and a target price of RM2.30, offers attractive dividend yields of over 5%. It said small-cap Kimlun Corp Bhd , with an 'outperform' rating and a target price RM1.39, is expected to benefit from upcoming public infrastructure roll-outs. The listing of Paradigm Real Estate Investment Trust marks a potential re-rating for WCT Holdings Bhd , which has an 'outperform' rating and target price of RM1.25. The research house also expects a neutral impact on builders from the recent change in electricity tariffs, as it involves tariff rebasing while users have already been paying market prices. The newly introduced Employees Provident Fund contribution for foreign workers was also expected to have an immaterial earnings impact on contractors, estimated at less than 1%, it added.
