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Thursday, April 30, 2009

It is to to offset negative growth in other segments

PETALING JAYA: The construction industry, which saw a dearth of jobs last year, has caught a glimpse of up-coming jobs from the stimulus spending this year.

This will be counter-cyclical in the sense that while the industry shrank last year, it may expand in a year of economic slowdown as the Government ramps up construction to offset negative growth in other sectors.

Analysts sense this impending recovery. CIMB Research last week said IJM Corp Bhd was eyeing nine major contracts worth at least RM9.4bil in total.

Eight are domestic projects. These include the job to build a hospital in Putrajaya, two packages involving the Pahang-Selangor interstate water project, the West Coast Expressway, the new low-cost carrier terminal in Sepang, work related to the Penang Second Bridge project and upcoming contracts to extend the existing two light rail transit (LRT) lines in the Klang Valley.

Contracts to extend the existing two LRT lines in the Klang Valley are among the upcoming projects.

All these contracts are in various stages of negotiations, and tenders for some of these projects are yet to be called.

Other companies were also reported to be in the running for some of the projects being targeted by IJM. The prospective IJM job list gave some insight into the value of big domestic construction works that are in the pipeline.

From The Star Online Tuesday April 14, 2009

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