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Malaysia-based IJM Corp is evaluating the possibility of listing its construction business as part of efforts to explore strategic options for the group. The company has begun the process of appointing advisers to assess the proposal but said no final decision has been taken. Market reports had earlier indicated that the listing could raise nearly USD 293.40 million and unlock significant shareholder value. The move comes months after Sunway's takeover attempt for IJM failed to meet the required acceptance conditions.
Malaysia's IJM Corp is exploring the possibility of listing its core construction business, months after a takeover attempt by rival Sunway failed to materialise. The company said in the past week that it is assessing various strategic options and has not yet made a final decision on the proposed listing.
As part of the evaluation process, IJM said it will engage and appoint relevant advisers and other parties to study the potential listing and examine the available options. The company added that the proposal remains under review and will require further assessment before any decision is made.
Media reports published earlier this year had indicated that a separate listing of IJM's construction division could raise around USD 293.40 million (approximately 1.2 billion Malaysian ringgit) and unlock equity value of up to 4 billion Malaysian ringgit. However, IJM clarified that the proposal is still at an exploratory stage and no definitive plan has been approved.
The construction division is one of IJM's largest businesses and contributed more than 40% of the group's revenue in 2025, highlighting its importance to the company's overall operations. Apart from construction, IJM has interests in property development, infrastructure, manufacturing and port operations, making it one of Malaysia's diversified conglomerates.
The development follows the collapse of Sunway's proposed USD 2.7 billion acquisition of the 43-year-old IJM. The takeover bid lapsed earlier this year after it failed to achieve the required level of shareholder acceptance, bringing an end to one of the notable corporate transactions in Malaysia's infrastructure and construction sector.
Source Reuters
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