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Sunway’s RM11B takeover bid for IJM rejected by PNB, citing unfair valuation amid ongoing leadership probes.
Malaysia’s IJM Corporation faces a contentious takeover bid from Sunway, with PNB rejecting Sunway’s RM11 billion offer for its 13.5% stake, calling it unfair and unreasonable.
IJM’s independent adviser valued the company at RM5.84–6.48 per share, far above Sunway’s RM3.15 offer, citing concerns over IJM’s asset monetization and short-term performance.
While some analysts see the bid as a reasonable exit, others question its fairness.
The outcome hinges on shareholder approval and regulatory review.
Meanwhile, investigations continue into IJM’s leadership, including Victor Chin, and the Cabinet has ordered further probes into corporate misconduct.
Regional markets showed mixed results amid geopolitical tensions and economic uncertainty.
La oferta de adquisición de RM11B por parte de Sunway para IJM fue rechazada por PNB, citando una valoración injusta en medio de investigaciones de liderazgo en curso.