KUALA LUMPUR (Oct 14): ACE Market-listed Critical Holdings Bhd (KL:CHB) said it has bagged a RM62.5 million contract from IJM Corp Bhd (KL:IJM) to provide mechanical and electrical services for a semiconductor plant in mainland Penang.

The company said its wholly-owned subsidiary, Critical M&E Engineering Sdn Bhd, will undertake the supply and maintenance of mechanical and electrical services for the new semiconductor plant — for a renowned US-based multinational company — located at the Batu Kawan Bandar Cassia Technology Park in Prai.

The Penang-based mechanical, electrical and process utilities (MEP) design and engineering services provider did not name the multinational company in its statement on Monday.

Critical Holdings said work under the contract, which was awarded by IJM Corp through its wholly-owned unit IJM Construction Sdn Bhd, is expected to be completed by August 2025. Critical Holdings executive director and chief executive officer Tan Si Lim said the latest contract win signifies “a vote of confidence for our expertise within this field and in our homebase”.

Shares of Critical Holdings ended one sen or 0.98% higher at RM1.03 on Monday, valuing the company at RM382.89 million.