MAIN Market listed construction and property group Ireka Corp Bhd has successfully secured a contract worth RM1.07 bil for the upgrade of a section of the Pan Borneo Highway (PBH) in Sabah.
The award granted by Gammerlite Sdn Bhd to Shoraka Construction Sdn Bhd, a wholly owned subsidiary of ICB, reinforces the group’s position in Malaysia’s construction sector.
The contract which is part of the “Projek Lebuhraya Pan Borneo Fasa 1B: Menaik Taraf Jalan Dari Kampung Lumou Baru Ke Kampung Toupus (WP33)” entails the Malaysian government’s commitment to enhancing East Malaysia’s connectivity through the development of PBH.
Ireka is tasked with upgrading the road from Kampung Lumou Baru in Beluran to Kampung Toupus in Ranau, Sabah.
Often hailed as a transformative infrastructure project for East Malaysia, the PBH which stretches across 2,325km aims to provide seamless connectivity across Sabah, Sarawak and Kalimantan in Indonesia.
The completion of the highway is expected to reduce travel time and boost economic activities in the region by facilitating trade, logistics and tourism.
“We are honoured to be part of the PBH project which will significantly benefit Sabah’s economy and its people,” commented Ireka’s group managing director Datuk Mohd Hasnul Ismar Mohd Ismail.
“This contract not only underscores our commitment to contributing to the nation’s infrastructure but also represents an important step in our journey of growth and expansion.”
Phase 1B of the PBH will also enhance road conditions and improve safety for the local communities.
This section of the highway will facilitate smoother transportation between key townships in addition to boosting access to essential services, local businesses and tourism opportunities.
The upgraded road is expected to spur economic activity, create job opportunities and enhance the overall standard of living in the region.
The award of this contract is a testament to Ireka’s technical expertise and long-standing reputation for delivering large-scale infrastructure projects.
This achievement further strengthens the group’s position in the construction sector by contributing to Irela’s future growth and sustainability goals. The project which commenced on Sept 30 is set to be completed over 48 months.
At the close of today’s trading, Ireka was up 0.5 sen or 16.95% to 34.5 sen with 184,900 shares traded, this valuing the company at RM79 mil. – Oct 8, 2024
