Malaysia Billionaire Jeffrey Cheah with $4 Billion Fortune $9.4 Billion Sunway Group Makes Offer to Buy Malaysia Construction Company IJM Corp for $2.7 Billion (MYR 11 Billion) in Cash & Share Deal (10% Cash, 90% Shares) Representing +14.5% Premium to Closing Price (9/1/26), Offer Conditional on >50% Approval by IJM Corp Shareholders, IJM Corp Founded in 1983 with Merger of 3 Medium-Sized Construction Firms IGB Construction, Jurutama & Mudajaya, Sunway Group Founded in 1974 by Jeffrey Cheah
13th January | Hong Kong
Malaysia billionaire Jeffrey Cheah with $4 billion fortune Sunway Group ($9.4 billion market value) has made an offer to buy Malaysia construction company IJM Corp for $2.7 billion (MYR 11 billion) in cash & share deal (10% cash, 90% shares), representing +14.5% premium to closing price (9/1/26). The offer is conditional on >50% approval by IJM Corp shareholders. IJM Corp was founded in 1983 with merger of 3 medium-sized construction firms IGB Construction, Jurutama & Mudajaya. Sunway Group was founded in 1974 by Jeffrey Cheah. IJM Corp – IJM Corporation Berhad (“IJM”), established in 1983, is one of Malaysia’s leading conglomerates with an international footprint forged by its four core businesses: construction, property development, industry (quarrying and the manufacture of building materials) and infrastructure concessions. IJM holds leading positions across all its business divisions, supported by a strong foundation of leadership, dedicated employees, financial prudence and an unwavering commitment to good governance and quality. Listed on the Main Market of Bursa Malaysia Securities Berhad and included in the FTSE4Good Bursa Malaysia Index, IJM is recognised for its strong environmental, social, and governance (ESG) practices. Guided by our tagline, We Deliver, IJM focuses on delivering inspired solutions that address evolving market needs while creating long-term value for stakeholders and communities. As of 31 March 2024, the Group employs approximately 3,500 people and has total assets of RM21.3 billion. Over the past four decades, IJM’s growth has been driven by a sharp focus on core competencies, diversification into strategically related businesses, and selective expansion into new markets. Sunway Group – Established in 1974, Sunway Group is one of Southeast Asia’s leading conglomerates with core interests in real estate, construction, education, healthcare, retail, and hospitality, with a unique build-own-operate business model. We are committed to the 17 United Nations Sustainable Development Goals and continue to align them with our Environmental, Social and Governance (ESG) targets as part of our corporate strategy and social responsibility towards driving the group’s long-term success and deepening our commitment to nation-building. With a presence in more than 50 locations worldwide, Sunway Group comprises 13 business divisions: real estate, construction, retail, hospitality, leisure, healthcare, education, financial and investment services, trading and manufacturing, building materials, quarrying, Real Estate Investment Trust (REIT), and digital.
“ Malaysia Billionaire Jeffrey Cheah with $4 Billion Fortune $9.4 Billion Sunway Group Makes Offer to Buy Malaysia Construction Company IJM Corp for $2.7 Billion (MYR 11 Billion) in Cash & Share Deal (10% Cash, 90% Shares) Representing +14.5% Premium to Closing Price (9/1/26), Offer Conditional on >50% Approval by IJM Corp Shareholders, IJM Corp Founded in 1983 with Merger of 3 Medium-Sized Construction Firms IGB Construction, Jurutama & Mudajaya, Sunway Group Founded in 1974 by Jeffrey Cheah “
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Malaysia Billionaire Jeffrey Cheah with $4 Billion Fortune $9.4 Billion Sunway Group Makes Offer to Buy Malaysia Construction Company IJM Corp for $2.7 Billion (MYR 11 Billion) in Cash & Share Deal (10% Cash, 90% Shares) Representing +14.5% Premium to Closing Price (9/1/26), Offer Conditional on >50% Approval by IJM Corp Shareholders, IJM Corp Founded in 1983 with Merger of 3 Medium-Sized Construction Firms IGB Construction, Jurutama & Mudajaya, Sunway Group Founded in 1974 by Jeffrey Cheah
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