KUALA LUMPUR (March 24): IJM Corp Bhd (KL:IJM) remains positive about its business outlook and the potential to secure tendered projects, according to its chief financial officer (CFO) Datuk Edward Chong Sin Kiat, despite recent online allegations casting a pall over the company.

Chong noted that IJM's official response should provide assurance to potential clients. The company had formally addressed the matter by lodging a report with the Malaysian Communications and Multimedia Commission (MCMC) last week.

"I'm sure our clients know what is true and what is not. We remain hopeful [of securing the tendered projects]. We are bidding alongside our competitors, and everyone is putting in a good bid. Let’s see what the outcome is," Chong said, speaking at the launch of Malaysia’s first AI-powered security robot deployment in a commercial property at Menara Prudential.

IJM is actively bidding for two hyperscale data centre projects and engaging in discussions for four additional contracts, according to reports. Further, the group has also completed negotiations for the New Pantai Expressway (NPE) extension project and is now awaiting final government approval.

"As far as the company is concerned, we have made our official stance clear through the news release we issued. I believe that is sufficient to leave it as that," he added.

Following the circulation of the online allegations related to the proposed Mass Rapid Transit Line 3 (MRT3) project on March 17, IJM’s share price dropped 11.43% to an intraday low of RM1.86 from its opening price of RM2.10.

However, the stock has since rebounded, trading at RM2.04 at the time of writing on Monday, valuing the company at RM7.40 billion.

IJM currently trades at a price-to-earnings ratio of 12.3 times, which is the lowest among peers such as Sunway Construction Group Bhd (KL:SUNCON) at 30.6 times and Gamuda Bhd (KL:GAMUDA) at 24.8 times, AskEdge data compilation showed.

Malaysia’s first AI-powered security robot deployment was implemented in collaboration with the building’s appointed security and property management teams, led by Securight Sdn Bhd and Knight Frank Malaysia.

Equipped with cameras, sensors, and AI-driven analytics, the security robot provides round-the-clock monitoring to enhance surveillance coverage and minimise blind spots.

"Technology is something we must leverage to enhance productivity and efficiency. Around the world, robots are being deployed in various industries, and we cannot afford to be left behind," Chong said.

IJM is currently testing its first indoor security robot and plans to introduce outdoor units in the future. The AI-powered system can detect anomalies, unauthorised individuals after hours and even monitor for smoking violations and faulty infrastructure, such as escalators and lighting issues.