ICP was incorporated in Malaysia as a private limited company under the Companies Act,1965 on 6 April 1977 under the name of Industrial Concrete Products Sdn. Bhd. and was converted into a public limited company under the name of Industrial Concrete Products Berhad on 7 December 1995.  It was listed on Bursa Malaysia (then Kuala Lumpur Stock Exchange) on 9 December 1996.

ICP Group is engaged in the manufacturing and sale of Pretensioned Spun Concrete (PSC) piles, building materials, plant and machinery, rubber underlay and other rubber products, quarrying, ready mixed concrete, scaffolding renting and investment holding.

ICP itself is engaged in the manufacturing and sale of PSC piles. The sales of these products are normally carried out by selling directly to contractors in the construction industry. ICP also markets the products overseas, namely to countries in the ASEAN region, countries in the Indian Continents, the Middle East and America. 

ICP was the first company in Malaysia to manufacture and market PSC piles for land based projects in place of traditional reinforced concrete piles (RC piles) and steel H-piles.  The first factory was set up in September 1977 and was located in Bukit Tengah, Seberang Perai, Penang.  The technology in the production of PSC piles was acquired from the joint venture between Jurutama Sdn Bhd (now a wholly-owned subsidiary of IJM Corporation Berhad) and Mitsui Construction Co Ltd, Japan.  The joint venture was awarded the piling contract for the Prai Power Station, Phase III project which was successfully completed in 13 months; 2 months ahead of schedule by using PSC piles over the traditional square RC piles.  Before the Prai Power Station project, PSC piles had been used in Malaysia only for harbour works.

Due to its weight and size which are heavy and bulky that are inherent to the products, ICP began to set-up factories at various strategic locations in the country with the objective of reducing logistic related problems and to minimise transportation cost and hence to have a competitive advantage over its competitors.

In 1981, a factory was set up in Shah Alam to cater for the Federal Highway II improvements work and also to cater for the Central Region of Peninsular Malaysia.  This factory was later relocated to Klang in 1985. 

In 1982, ICP relocated its factory in Bukit Tengah, Seberang Perai, Penang to Prai Industrial Estate, Seberang Perai which has a larger land area and better infrastructures facilities.

In 1987, ICP secured the supply contract from Shimizu Construction, the main contractor for the construction of Kuala Terengganu Bridge.  Another factory was set up in Gong Badak, Kuala Terengganu to cater for the said project and thereafter to cater for the Eastern Region of Peninsular Malaysia.

In 1988, ICP set up a marketing arm, ICP Marketing Sdn Bhd whose principal activities are the trading of PSC piles, building materials, plant and machinery and investment holding.

Having three factories located in strategic locations in the Northern, Central and Eastern regions of Peninsular Malaysia, another factory in Kapar, Selangor was set up catering mainly to the heavy civil engineering projects such as wharfs, ports and power plants.  A bitumen coating facility has been set up in this factory as a supporting/non-manufacturing plant to cater for piles that need bitumen coating to counter negative skin friction (normally created when piles are driven through compressivable soft soil layers) as required by consulting engineers for specific projects.  This value-added facility has enhanced the Company's position in providing a large range of products that satisfy the various engineering requirements in pile installation .

During 1993, a fourth piles factory was set up in Lumut.  This factory produces mainly large diameter piles ranging from Ø500 mm to Ø1200 mm with lengths up to 46 metres.  This factory having its own jetty is able to handle all shipments by barge to overseas countries, Sabah and Sarawak.

In 1994, ICP acquired two (2) factories located in Ipoh, Perak and Nilai, Negeri Sembilan to cater for the anticipated increase in demand for PSC piles.

In June 1995, ICP install its first autoclave facilities in its Klang factory.  With this facility, high strength concrete piles using autoclave technology will be able to be driven 48 hours after manufacturing thus providing greater efficiency to its customers.

In June 1996, a second line of piles production was commissioned in Lumut factory.  This production line produces mainly small to medium size piles ranging from Ø300 mm to Ø600 mm. With this new production line, it enhances the Company's ability to supply these sizes of piles directly from the factory to overseas markets by barges that can be anchored at the Company's own jetty.

In October 1996, ICP set up another factory in Jawi, Province Wellesley, Penang for the production of PSC piles.  As a result of this addition, the factory in Prai was closed in November 1997 as it was no longer efficient due to its old age.

In September 1997, ICP further invested in autoclave technology and install two autoclave curing chambers in its Nilai factory.

In October 1998 and May 2001, an additional pile production line was added in our Kuala Terengganu and Jawi factory respectively. 

In order to cater to market requirements, another autoclave curing facility was set up in Jawi factory in September 2004.  This brought the number of factories equipped with autoclave facilities to three.

Due to the strong demand from overseas particularly large diameter long length ICP piles, an eighth factory was commissioned in August 2006 in Lumut which has the capability to produce Ø700 mm to Ø1200 mm piles with length up to 30 metres.

With these developments, ICP now has 8 factories with 10 production lines for the production of PSC piles and the annual capacity is 1.32 million tons per annum.

Just like any forward looking companies, diversification has been part of the company’s business strategy.  On 15 March 1993, the company acquired an underlay business and injected it into Expedient Resources Sdn Bhd (ER).  This has been nurtured into a reputable supplier of underlay for carpet and wooden flooring market and exported about 95% of its products to the UK, Europe, Australia, New Zealand and the Far East.  On 30 September 2005, the company acquired the remaining 28% equity interest in ER and made it a wholly owned subsidiary.  ER is currently operating from a two production lines factory in Banting, Selangor, Malaysia.

In 1994, ICP first acquired a 28% stake in Concrete Mould Engineering Sdn Bhd (CME) which was involved in the manufacturing of moulds and machinery for PSC piles industry and in providing engineering services.  The said acquisition is in line with ICP's intention to rationalise and self supports its PSC piles activities.  In June 1995, ICP increased its stake in CME to 60% and 65% thereafter.  On 30 December 2005, ICP acquired the remaining 35% equity interest in CME and made it a wholly-owned subsidiary.

In a bid to upward integrate its piles manufacturing activities, ICP set up a 100% owned subsidiary Durabon Sdn Bhd (DRB) on 24 June 2000 to process PC bars for its own consumption in the production of PSC piles.  On 1 January 2002, ICP acquired Fututech Berhad's steel division in Senai, Johor which processes PC Bars and its subsidiary Ubon Steel Sdn Bhd (USSB).  This strategic move was to enhance our existing PC bars processing line under DRB and thus be able to meet the 100% PC bars requirements of the piles business of ICP.  DRB also supplies to other PSC piles producers in domestic and overseas markets.  It has become the largest PC bars processing company in the country having two factories located in Senai, Johor and Klang, Selangor.

After having established itself as the market leader in the PSC piles market domestically, ICP has taken the first step to venture overseas.  On 21 December 2004, a 73% owned subsidiary, ICP Jiangmen Co Ltd (ICPJM) was incorporated to produce up to Ø1200mm piles with length up to 50 metres in Jiangmen, Guangdong Province of the People's Republic of China.  On 22 August 2005, ICP acquired an additional 6% equity interest in ICPJM thus making it a 79% subsidiary of the company from 73% previously.

In May 2004 ICP became a subsidiary of IJM Corporation Bhd (IJM) after IJM acquired the entire block of shares owned by Hume Industries (Malaysia) Bhd and its related company.  IJM then carried out a mandatory general offer.  Following this, IJM injected Malaysian Rock Products Sdn Bhd and its group of companies (MRP Group) into ICP for RM110 million satisfied by 39,285,714 ICP ordinary shares of RM1.00 each in their rationalisation exercise and MRP Group became subsidiary of ICP on 18 January 2005.  MRP’s major activity is in quarrying and its subsidiaries are involved in ready mixed concrete operations and scaffolding rental.  With these additions to ICP group, it has enhanced the group business activities to encompass a wide range of products which supports the construction sector of the economy.

In an effort to further broaden our earnings base beyond our shores, MRP ventured into India in December 2004 by providing management services to IJM Concrete Products Pte Ltd (IJMCP) to set-up and operate a ready mixed concrete plant in Hyderabad.  On 23 January 2006, ICPB (Mauritius) Ltd (ICPBM), a subsidiary of ICP acquired 1,000,000 shares of Rs10 each representing 100% equity interest in IJMCP from IJM (India) Infrastructure Limited (IJMII).  Encouraged by the bright outlook of the Indian construction sector, a second plant in Bangalore was started up in February 2006. 

ICP has evolved from a single product company into a company having several products under its wing and going global.  After twenty nine years in operation, it has grown from a small company having a paid-up of RM30,000 as seed capital in 1977 to a company having a paid-up capital of RM175 million and shareholders’ fund of RM279 million as at 31 March 2006.    With the advent of our Group Vision and Mission Statements, we are confident that the objectives therein will be achieved in the near future.  This will certainly enhance our shareholders’ value.