IJM Corp Shares Rise 2 Pct After Dismissing Governance Concerns

KUALA LUMPUR, March 21 (Bernama) -- Shares of IJM Corp Bhd rose 2.0 per cent in early Friday trading after the group dismissed online allegations regarding the construction company and its leadership.  

As of 10.15 am, IJM Corp advanced four sen to RM2.04, with 4.40 million shares traded.  

On Thursday, the group reaffirmed its commitment to strict corporate governance, noting that its chairman who serves as a non-executive director holds only 0.3 per cent of its shares.  

“We expect IJM Corp’s fundamentals to remain strong, supported by its diverse exposure to infrastructure, highways, manufacturing facilities, and data centres, with a domestic outstanding order book of RM6 billion,” RHB Investment Bank Bhd said in a research note.  

The investment bank estimated that industrial projects, excluding data centres, such as electrical and electronics facilities and warehouses, account for 33 per cent of IJM Corp’s order book.

It said this positions the group well to capitalise on rising demand for industrial buildings, given Malaysia’s industrial property overhang.  

According to the National Property Information Centre, industrial property overhang has declined for four consecutive years, from 2021 to 2024.  

-- BERNAMA