Sunway Group has acquired IJM Corporation Berhad for an undisclosed amount. This strategic move sees Sunway Group taking ownership of IJM, a prominent Malaysian conglomerate established in 1983. IJM Corporation Berhad holds an international footprint, built upon its four core businesses: construction, property development, industry, which includes quarrying and the manufacture of building materials, and infrastructure concessions. The company is listed on the Main Market of Bursa Malaysia Securities Berhad and is recognized for its strong environmental, social, and governance (ESG) practices, reflecting its commitment to good governance and quality.
The acquisition is poised to significantly enhance Sunway Group's market position and operational capabilities across multiple sectors. IJM brings to the combined entity its leading positions within all its business divisions, supported by a foundation of experienced leadership, dedicated employees, and financial prudence. As of March 31, 2024, IJM employed approximately 3,500 people and reported total assets of RM21.3 billion. This integration is expected to create substantial synergies, leveraging IJM's four decades of growth driven by a sharp focus on core competencies and diversification into strategically related businesses.
Through this acquisition, Sunway Group is set to benefit from IJM's established expertise and international reach, particularly in construction, property development, and infrastructure. The combined entity is expected to form a more robust and diversified enterprise, better positioned to address evolving market needs and deliver inspired solutions. This strategic consolidation aims to create long-term value for stakeholders and communities, strengthening the combined group's competitive edge and fostering continued growth in both domestic and international markets.