Ibraco Bags RM529.8 Million Contract From JKR Sarawak

Ibraco Berhad bagged a mega job from Sarawak JKR when its wholly-owned construction unit, Ibraco Construction Sdn Bhd accepted a Letter of Acceptance (“LO from Jabatan Kerja Raya Sarawak for the Construction and Completion of the Sarawak Second Trunk Road Package A1-A worth RM529.8 million.

The LOA is for the proposed construction and completion of the New Batang Samarahan Bridge and a 9km new 4-Lane Dual Carriageway Road JKR R5 Standard from Batang Samarahan to Batang Sadong. The contract period is for a 42 months period commencing 8.8.2023 to 7.2.2027 and is expected to contribute positively to the earnings and net assets of Ibraco.

Group Managing Director of Ibraco, Datuk Chew Chiaw Han (“Datuk Chew”) shared, “We are pleased to be awarded this LOA which shall further bolstered our current outstanding construction orderbook position moving foward. This serves as a testament of our illustrative proven track record as an integral player in Sarawak’s construction industry and our continual commitment to our shareholders in growing our earnings base”.

“Furthermore, this LOA shall further cement our position in the industry and is expected to contribute positively to Ibraco’s earnings profile, thus providing the Company with healthy earnings visibility moving forward”.

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