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PETALING JAYA: (Feb 20) Sunway Bhd said in a Feb 19 filing that it is complying with takeover rule 19.05(1) by reporting share transactions involving key stakeholders in its ongoing conditional takeover offer for IJM Corp.
The disclosure names the Employees Provident Fund (EPF) Board, the Malayan Banking Bhd (Maybank) group and UBS AG as parties that dealt in Sunway and/or IJM shares that day.
Such filings are required to ensure transparency during an active takeover exercise and can signal shifts in the shareholder base.
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Sunway discloses institutional dealings during ongoing takeover offer
Sunway’s announcement stressed that detailed trade data are available in the attached schedules, underscoring that significant institutional trades have taken place.
In Sunway’s disclosures, EPF’s five separate trades on Feb 19 are itemised. EPF’s Amundi account disposed of 142,300 Sunway shares at RM5.8301 each, its CIMB Principal fund acquired 500,000 shares at RM5.8289, and its CPIAM Equity fund sold 6,700 shares at RM5.85.
Two entries for EPF’s Islamic fund show disposals of 1,053,400 shares at RM5.8310 and 765,900 shares at RM5.8300. (EPF thus net-sold roughly 1.47 million Sunway shares that day.)
Maybank’s filings likewise recorded deal activity: in Sunway, the Maybank Investment Bank unit reported trades (number of shares and price per share as disclosed), while in IJM, Maybank IB sold 62,000 IJM shares at about RM2.68 each. Aside from that one Maybank disposal, the IJM announcement showed no other trades by EPF or Maybank on Feb 19.
These disclosures come as Sunway pursues its takeover of IJM, whose property arm is material to real estate investors.
IJM Land Bhd—IJM’s property subsidiary—is among Malaysia’s largest developers, with townships, commercial towers and high‑rise condominiums in key growth areas.
EdgeProp readers will note that IJM’s extensive landbank and projects (estimated gross development value in the tens of billions) make institutional share dealings particularly relevant.
The latest disclosures ensure investors can monitor how large shareholders are positioning themselves during Sunway’s bid for IJM, in keeping with regulatory requirements and market transparency.
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