KUALA LUMPUR: IJM Corporation Bhd shares fell in early trading today despite its unit securing a RM1.23 billion construction contract in Kedah.

At 10.32 am, the counter lost three sen to RM2.77, with 4.405 million shares transacted.

IJM's wholly-owned subsidiary, IJM Construction Sdn Bhd, has accepted a letter of award from AT&S Austria Technologie & Systemtechnik (Malaysia) Sdn Bhd for a design and build contract worth about RM1.23 billion.

Hong Leong Investment Bank Bhd (HLIB) said it views the contract win as a breakthrough for IJM in the semiconductor buildout space.