PETALING JAYA: IJM Corp Bhd is expected to make an estimated gain of RM188mil from the proposed disposal of its 100% stake in Indian tolled-road concessionaire Jaipur-Mahua Tollway Private Ltd (JMTPL).
The Malaysian construction conglomerate said in its filing with Bursa Malaysia that its unit IJM Rajasthan (Mauritius) Ltd (IJMRM) had signed a conditional share purchase and debenture subscription agreement to sell its 195.14 million equity shares, or a 100% stake, in JMTPL to ISQ Asia Infrastructure I-A Private Ltd for a 5.25 billion rupees (RM295mil).