IJM Corp to construct HSBC's office building at Tun Razak Exchange for RM392 million

PETALING JAYA: IJM Corp Bhd's wholly owned subsidiary IJM Construction Sdn Bhd has entered into an agreement with HSBC Bank Malaysia Bhd to design, construct and complete HSBC's office building at Tun Razak Exchange for a contract sum of approximately RM392 million.
IJM's board of directors said in a Bursa Malaysia filing that the contract sum is not inclusive of the lifts and facade works, which will be procured directly by HSBC.
The project is scheduled to go on for 37.5 months and is anticipated to be handed over to HSBC by December 2020.
Worth noting is that Tan Sri Krishnan Tan Boon Seng, who is the deputy non-executive chairman of IJM Corp, is also the independent chairman of HSBC Malaysia.
IJM's share price gained 1.26% to close at RM3.21 with 626,200 shares traded.