What is Sunway's proposed takeover bid for IJM Corporation?

Sunway is proposing a $2.7 billion share-and-cash takeover of IJM Corporation.

What is the combined market capitalization of a merged Sunway and IJM?

The merged entity is projected to have a combined market capitalization of $11.7 billion.

Why is Sunway merging with IJM Corporation?

The merger aims to create one of Malaysia's largest property developers, capitalizing on the data center and infrastructure boom.

Home / Business and Economy / Sunway eyes IJM in $2.7B Malaysian property mega-merger

Sunway eyes IJM in $2.7B Malaysian property mega-merger

13 Jan

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Summary

Sunway proposes a $2.7 billion takeover of competitor IJM Corporation.
The merged entity will have an $11.7 billion market capitalization.
The deal aims to capitalize on Malaysia's booming data center construction.

Sunway eyes IJM in $2.7B Malaysian property mega-merger

Malaysian construction powerhouse Sunway has unveiled a substantial $2.7 billion takeover proposal for its competitor, IJM Corporation, aiming to create a dominant force in the Southeast Asian property market. Announced on January 12, 2026, this move seeks to combine two of Malaysia's most significant property developers into a single entity.

The proposed merger would establish a combined market capitalization of $11.7 billion, surpassing current leader Gamuda Berhad and positioning the new entity to pursue major projects. This strategic consolidation is fueled by Malaysia's ongoing boom in data center construction and infrastructure development, driven by increasing regional demand for AI and cloud computing services.

Sunway's offer of $0.78 per IJM share, a 15% premium over its recent closing price, includes a mix of cash and newly issued Sunway shares. This ambitious merger is expected to generate significant synergistic value, enhance economies of scale, and expand the enlarged Sunway Group's landbank, reinforcing its competitive edge in a rapidly growing market.