KUALA LUMPUR – Trading of shares in Sunway Bhd and IJM Corporation Bhd has been suspended from 9 am on Monday pending a material announcement.
Both companies announced this in separate filings with Bursa Malaysia, stating that the suspension is temporary while awaiting the material announcement.
Shares in Sunway were last traded at RM5.60 apiece last Friday while IJM’s shares ended at RM2.75 each.
On 4 November, Scoop reported that Sunway was exploring a potential merger with IJM, which could form a major powerhouse in engineering and construction.
Market sources told Scoop that Sunway and IJM have been in talks for over a year, and the merger will involve a share swap in a deal that is said to be worth billions, taking into consideration the assets, valuation and market capitalisation of both firms.
Sunway’s revenue in 2024 was RM7.8 billion, while IJM recorded RM5.9 billion.
A potential testy component of this agreement is that over half of IJM shares are held by institutional Bumiputera firms and Government Linked Investment Companies (GLIC).
However, IJM has denied any merger proposal, stating that its board is not aware of any such proposal and has not been approached regarding a potential merger.
Similarly, Sunway clarified that there have been no discussions or negotiations with IJM Corp. – January 12, 2026