Latest news with #IJMCorporationBhd
New Straits Times
23-05-2025
- Business
- New Straits Times
IJM gets ministry's nod to extend New Pantai Expressway by 15km at RM1.4bil cost
KUALA LUMPUR: IJM Corporation Bhd has received approval from Works Ministry for the extension of the New Pantai Expressway (NPE) and restructuring of toll rates for the existing stretch. The project will be undertaken by IJM's infrastructure toll division, which manages the group's highway concessions. According to IJM, the 15-kilometre fully elevated NPE extension (including directional ramps) is designed to improve connectivity, ease congestion and enhance mobility across key corridors in Klang Valley. By offering a direct alternative to city-centre routes, the highway will help shorten travel times and ease daily commutes for residents and businesses. The NPE Extension, with a new toll plaza, will be fully funded by the concessionaire without any government funding. Construction works is expected to commence in the third quarter of 2025 with the highway targeted to be operational by 2029. Toll restructuring of the existing NPE entails maintaining current toll rates until the expiry of the concession period. Meanwhile, the NPE extension will link the Pantai Dalam toll plaza directly to the Jalan Istana interchange via Jalan Syed Putra, interconnecting with three major expressways - NPE, Sungai Besi Expressway (Besraya), and the upcoming Laluan Istana-Kiara Expressway (LIKE). The project also aligns with Kuala Lumpur Traffic Master Plan 2040, which prioritises highway-to-highway connections that keep through-traffic out of the city core. The integrated network is expected to divert about 40 per cent of existing traffic from Jalan Bangsar towards the city centre, relieving pressure on some of Kuala Lumpur's busiest routes which expect to reduce travel time during peak hours upon completion. IJM group chief executive officer and managing director Datuk Lee Chun Fai said the approval marks an important milestone in the group's efforts to improve urban mobility in the Klang Valley. He added that the NPE extension is designed not only to disperse traffic more efficiently, but also to reduce travel time and support the everyday journeys of people and businesses by easing pressure on key city routes and complementing public transportation. Beyond easing congestion, the project is also expected to generate economic spillover benefits of about RM5.6 billion, unlocking growth for nearby developments such as Pantai Sentral Park and Bangsar South. To support future-ready commuting, the NPE Extension will incorporate smart infrastructure features such as Malaysia's multi-lane fast flow tolling system, integrated real-time CCTV monitoring, smart street lighting and a new layby with electric vehicle fast-charging stations. The NPE Extension also represents a brownfield extension of the group's existing concession asset, aligning with IJM's strategy of expanding and enhancing its infrastructure portfolio through well-managed, synergistic developments. Lee noted that the extension of the NPE concession provides an ideal mechanism to responsibly finance and deliver this project. "The NPE Extension also strengthens our recurring income base and fits well within our long-term strategy of managing and monetising infrastructure assets at the right time," he said. The NPE Extension will be undertaken at a construction cost of RM1.4 billion.
Barnama
14-05-2025
- Business
- Barnama
IJM Allianz Duo Highway Challenge 2025 Targets 12,000 Runners
KUALA LUMPUR, May 14 (Bernama) -- The IJM Allianz Duo Highway Challenge aims to draw 12,000 runners for its seventh edition, scheduled for Aug 3 here. IJM Corporation Bhd group chief executive officer (CEO) and managing director Datuk Lee Chun Fai said the target follows last year's strong turnout of 10,000 participants. 'This is more than just a number. It reflects the spirit and community support the event has built,' he told reporters at the running event's launch here today.
The Star
30-04-2025
- Business
- The Star
Company raises over RM18,000 in support of B40 community of women tailors
In the spirit of Hari Raya Aidilfitri, IJM Corporation Bhd (IJM) extended festive cheer to Komuniti Tukang Jahit (KTJ), a social enterprise that empowers B40 women through certified sewing skills training. In conjunction with IJM's International Women's Day 2025 campaign, over RM18,000 was raised in support of KTJ. Sonia (left) and Helen (right) presenting Raya goodies to a recipient from the KTJ community of women tailors. The funds included more than RM9,000 from a staff-led yoga fundraising challenge, complemented by corporate donations and support through a KTJ product showcase platform. IJM representatives visited KTJ's warehouse in Ampang on April 11, to present the funds raised and celebrate the occasion with 100 women from the KTJ community. Special Raya goodie bags filled with festive biscuits were distributed. Also present were IJM chief risk management and integrity officer Sonia Lim, chief information officer Helen Lim Giok and industry division senior general manager Choy Teik San who championed the fundraising initiative. They were joined by KTJ chief executive officer Yap Sue Yii and members of the KTJ community. IJM said this initiative reflected its continued commitment to uplift communities and fostering inclusive economic empowerment, particularly for women from underserved backgrounds.
Malaysian Reserve
24-04-2025
- Business
- Malaysian Reserve
IJM acquires 50% stake in JRL Group for RM283m to drive UK expansion
IJM Corporation Bhd has acquired a 50% stake in financially troubled UK construction firm JRL Group Holdings Ltd for £50 million (approximately RM283 million), marking a bold expansion into the UK's competitive and inflation-hit building sector. The deal, completed via the subscription of new ordinary shares, gives IJM access to JRL's £1.45 billion (RM8.49 billion) order book and a vertically integrated operation comprising 14 specialist divisions. While JRL has faced industry-wide headwinds including rising construction costs and labour shortages, IJM sees the partnership as a long-term strategic move to deepen its footprint in the UK and diversify its earnings base. 'The completion of this acquisition marks a significant advancement in IJM's UK growth strategy,' said IJM Group CEO and MD Datuk Lee Chun Fai. 'JRL's strong project delivery credentials, specialised technical expertise and solid order book enhance our construction capabilities… aligning with IJM's long-term plans in the UK market.' Founded in 1996, JRL has delivered complex urban projects across the UK and is currently working on Phase 2 of Royal Mint Gardens — known as 88 Royal Mint Street — a mixed-use scheme that includes a 463-room Wilde Aparthotel and 79 residential units. JRL was also the contractor for Phase 1 of the development, completed in 2020. Though not explicitly framed as a rescue, JRL's need for recapitalisation has been clear. IJM's investment will strengthen JRL's balance sheet and help it deliver on a growing pipeline. JRL MD John Reddington called the partnership a major milestone, saying, 'Finalising this partnership marks a major milestone for JRL, built on mutual trust developed over years of collaboration… Together, we are well-positioned to unlock new opportunities and drive the next phase of growth in the UK.' The acquisition dovetails with IJM Land's property development ambitions in the UK, including its Innova joint venture with Network Rail Property, targeting rail-adjacent sites across London with a projected gross development value of RM17 billion. The collaboration is expected to benefit directly from JRL's ability to deliver complex infrastructure works, including over live rail corridors. JRL has also expanded into development, with some 2,400 build-to-rent and co-living units in the pipeline, and a gross development value of RM4.58 billion. Combined with IJM's other UK assets such as 25 Finsbury Circus and The Wheat Quarter in Hertfordshire, the move marks a clear step in building a full-spectrum presence across construction, development and recurring-income properties in a mature market. While the acquisition carries short-term risks tied to JRL's financial health, IJM is betting on synergy, technical alignment, and the long-term value of being embedded in a strategically important market. — TMR
