KUALA LUMPUR: Shares of IJM Corporation Bhd
extended losses in afternoon trading, falling 5% or 14 sen to RM2.66 as at 4.09 pm, with 90.42 mil shares changing hands.
Bursa Malaysia has suspended intraday short selling (IDSS) for IJM for the remainder of the trading day after the stock’s last done price breached the prescribed price limit, having declined more than 15% or 15 sen from its reference price.
“The short selling under IDSS will only be activated the following trading day, Jan 20, 2026 at 08:30 am,” Bursa Malaysia said.
A local news portal reported that the Malaysian Anti-Corruption Commission (MACC) is gathering information on allegations of a RM2.5bil money laundering scheme linked to senior executives at IJM, following a probe by the UK’s Serious Fraud Office.
Last week, Sunway Bhd proposed a conditional voluntary takeover offer for IJM. The offer is priced at RM3.15 per share, valuing IJM at about RM11bil if fully accepted.
The consideration comprises 10% cash and 90% new Sunway shares, to be issued at RM5.65 each. The offer is conditional on Sunway securing more than 50% of IJM’s voting shares.
