Trading Halt Follows Major Announcement

Trading of shares in Sunway Berhad and IJM Corporation Berhad was temporarily suspended on Bursa Malaysia following the lapse of Sunway’s takeover bid. The halt allowed investors time to assess the implications of the announcement before trading resumed later in the morning.

RM11 Billion Deal Falls Through

Sunway’s conditional voluntary takeover offer for IJM officially lapsed after failing to secure sufficient shareholder acceptance by the closing deadline on April 6. The offer did not meet the required threshold needed for the acquisition to proceed.

Insufficient Shareholder Support

Despite strong backing from Sunway’s own shareholders, the proposal did not gain enough support from IJM shareholders. Only about 33% acceptance was achieved, falling short of the minimum requirement to complete the takeover.

End of a Major Corporate Exercise

The lapse marks the conclusion of one of Malaysia’s most closely watched corporate deals in the construction and property sector this year. Both companies acknowledged the outcome, with Sunway stating it respects shareholders’ decision, while IJM will continue focusing on its existing strategy.

Why It Matters

• Highlights the importance of shareholder confidence and valuation alignment in large M&A deals

• Signals that market perception of value can outweigh strategic merger benefits

• Reflects ongoing consolidation interest within Malaysia’s property and construction sectors

Implications for Malaysian Property Market

The failed merger suggests that while consolidation remains attractive, investors are becoming more selective about pricing and long-term value. For property market observers, it reinforces the importance of:

• Strong fundamentals in listed developers
• Transparent valuation strategies
• Independent growth potential without relying on mergers

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Article Information Source: BusinessToday

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