IJM Corporation Bhd’s shares fell 5.02% to RM2.46 as of 4.17 pm today, despite the group announcing a RM873.9 million contract for mechanical and electrical (M&E) fit-out works at a hyperscale data centre in Elmina Business Park, Selangor.
The counter slipped 13 sen from the previous close of RM2.59, with 17.47 million shares traded. It opened at RM2.60 and moved between RM2.45 and RM2.61 during the session.
IJM Construction Sdn Bhd, a wholly-owned subsidiary of IJM, said the contract was awarded by Pearl Computing Malaysia Sdn Bhd and involves supplying and installing mechanical, electrical, security, and telecommunication systems for the project. The build-only contract is scheduled to begin in the third quarter of 2026 and targeted for completion in the first quarter of 2028.
The company said the project is expected to contribute positively to its revenue and earnings from the financial year ending 2027.
The latest award follows IJM’s earlier win for the Elmina data centre construction contract from Sime Darby Property Bhd, underscoring its growing presence in the data infrastructure segment.
