IJM Corp unit to sell Sabah property to Econsave-linked company for RM47.5mil

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📰 Malaysia

IJM Corp unit to sell Sabah property to Econsave-linked company for RM47.5mil 29.05.2026

New Straits Times

IJM Corporation Bhd's subsidiary, IJM Properties Sdn Bhd, has entered into a sale and purchase agreement to sell a land parcel and a single-storey building in Sandakan, Sabah, to Coupang Sdn Bhd for RM47.5 million cash. Coupang is the asset-holding company for Econsave Cash & Carry Sdn Bhd. This transaction, classified as a related-party transaction, is intended to unlock value, improve liquidity, strengthen cash flow, and optimize capital allocation for IJM Corp. The property's valuation as of March 31, 2025, was RM33.6 million. The proceeds, RM46 million, will be used for working capital, with RM1.5 million allocated for disposal expenses. The deal is projected to be finalized by the third quarter of 2026.

New Straits Times Full Article

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