CORP BRIEF: IJM, Ta Ann, Proton and CIMB

by TMR / graphic by TMR

IJM unit bags RM258m ECRL project in Pahang 

IJM Corp Bhd’s wholly-owned subsidiary IJM Construction Sdn Bhd has secured a RM258 million contract for the East Coast Rail Link (ECRL) project located in Temerloh, Pahang. The contract was awarded to IJM Construction by China Communications Construction (ECRL) Sdn Bhd early this week, the company said in a statement yesterday. IJM Construction’s scope of work under the contract includes the construction of substructure works and partial superstructure works for the Sungai Pahang bridge, T-Beam fabrication and installation of this bridge, as well as other bridges in Section 6 of the rail link. 

Ta Ann positive on timber segment 

TA ANN Holdings Bhd is optimistic of a turn-around ahead for the group’s timber segment due to the shortage of raw materials and increase in housing demands in Australia, US and other consuming countries. In a filing to Bursa Malaysia yesterday, the group said its timber division is well-positioned to meet the demand recovery in plywood, coupled with the prudent cost control measures and sustainable logs used for raw materials. The group expects the present price level to be sustained well into 2022 and will enable the group to further sustain its production level and drive the earnings momentum for the group. 

Over 86% Proton staff fully vaccinated 

PROTON Holdings Bhd has fully vaccinated over 86% of its 8,486 staff. Following the second round of its public-private partnership Covid-19 industry immunisation programme, also known as PIKAS last week. The national carmaker said the number is expected to increase over the coming weeks as 98% have already received their first dose, in line with the company’s aim to achieve herd immunity in its chain of operations. Proton has tightened its retail operations to protect customers and staff, while production processes at all plants have been scrutinised for any possible risk of infection to both downstream and upstream operations. 

250,000 individuals, SMEs under CIMB payment assistance programme 

CIMB Bank Bhd and CIMB Islamic Bank Bhd has supported over 250,000 individual and small and medium enterprise (SME) customers to-date under the CIMB Payment Assistance Programme since its launch on July 7, 2021. In a statement yesterday, the group said, under the programme, customers were given alternative options to choose from, such as a 50% reduction in instalments for six months on credit facilities such as mortgages, Amanah Saham Bumiputera loans/financing, and variable rate credit facilities. — Bernama