Sunway Bhd has issued a regulatory update confirming compliance with takeover Rule 19.05(1) in relation to its ongoing conditional voluntary offer for IJM Corp Bhd.
In its Feb 19 filing, Sunway disclosed that several major institutions dealt in Sunway and/or IJM shares during the offer period. The institutions named were the Employees Provident Fund Board (EPF), the Malayan Banking Bhd (Maybank) group, and UBS AG.
Such disclosures are procedural requirements under Malaysia’s takeover framework, ensuring transparency whenever connected parties transact in relevant securities during an active corporate exercise.
The filing outlined five separate trades executed by EPF on Feb 19:
Disposal of 142,300 Sunway shares at RM5.8301 via its Amundi account
Acquisition of 500,000 shares at RM5.8289 under its CIMB Principal mandate
Disposal of 6,700 shares at RM5.85 through its CPIAM Equity fund
Disposal of 1,053,400 shares at RM5.8310 via its Islamic fund
Disposal of 765,900 shares at RM5.8300, also under its Islamic fund
Overall, EPF emerged as a net seller of approximately 1.47 million Sunway shares on that day.
Maybank Investment Bank also recorded trading activity in Sunway shares, as detailed in the attached schedules. In IJM shares, Maybank Investment Bank disposed of 62,000 shares at around RM2.68 per share. Other than this transaction, no additional IJM trades by EPF or Maybank were reported for Feb 19.
Sunway highlighted that full trade details are available in the schedules accompanying the announcement, signalling that notable institutional participation occurred during the offer period.
The takeover bid is closely watched due to IJM’s sizeable property footprint through its subsidiary, IJM Land Bhd. IJM Land ranks among the country’s major developers, with integrated townships, commercial towers and high-rise residential projects across strategic growth corridors.
For stakeholders involved in commercial property in KL, corporate exercises of this magnitude can influence long-term development pipelines and capital allocation within the sector. Institutional trading patterns during takeover periods may provide signals about market confidence and strategic positioning.
Within Kuala Lumpur and Selangor, attention continues to centre on high-demand nodes such as Bukit Jalil, Puchong and the Subang area. Businesses exploring office space in Bukit Jalil are drawn by improved connectivity and lifestyle integration, while manufacturers and logistics operators remain active in sourcing industrial land in Selangor. Demand for a factory in Puchong and well-located industrial property in Subang area remains supported by supply chain realignment and SME expansion.
As large shareholders adjust their positions during Sunway’s bid for IJM, the disclosures help investors monitor institutional sentiment — an important factor for those tracking both listed property counters and real asset opportunities across the Klang Valley.
Yao Mu Realty, based in Kuala Lumpur, Malaysia, specializes in industrial real estate for factories and land, delivering professional and efficient solutions.
Posted by Yao Mu Realty Sdn Bhd on 21 Feb 26
Malaysia