IJM Corporation Berhad
Corporate brand
UnclaimedMalaysian diversified infrastructure and property group with businesses spanning construction, real estate, manufacturing, plantations and infrastructure concessions.
Last updated October 12, 2026
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Overview
IJM Corporation Berhad is a Malaysian listed conglomerate whose principal activities are organized around construction, property development, manufacturing and quarrying, plantations, and infrastructure concessions. The group is headquartered in Selangor and has developed a regional operating footprint extending across Malaysia and selected overseas markets in Asia, Australia, the Middle East and other regions. Rather than functioning as a consumer-facing product brand, IJM is primarily an institutional and project-based corporate group: its work is delivered through subsidiaries, joint ventures, concession companies and specialist operating businesses. The IJM name originated in the consolidation of three Malaysian construction businesses. IGB Construction Sdn. Bhd., Jurutama Sdn. Bhd. and Mudajaya Sdn. Bhd. were brought together under the ownership of IGB Corporation in the early 1980s. A newly incorporated entity was used to consolidate the construction interests, and the initials of the three businesses supplied the IJM identity. The group was formed in 1983, became publicly listed in 1986, and adopted the name IJM Corporation Berhad in 1989 to reflect its expansion beyond construction. Construction remains a central capability, covering civil engineering, building works, roads, bridges, piling, geotechnical work and related infrastructure delivery. The acquisition of the Road Builder Group in 2007 materially strengthened IJM's domestic construction position, enlarged its order book and added infrastructure assets and property interests. It also gave the group greater scale when competing for large public and private projects and supporting international expansion. IJM's property arm, principally associated with IJM Land Berhad and related companies, develops residential townships, high-rise housing, commercial buildings and mixed-use projects. Its development activities have been concentrated in important Malaysian growth corridors, while the group has also pursued property ventures in markets including Singapore, Australia, India and the United States at different points in its history. The manufacturing and quarrying division developed partly from the group's internal demand for concrete and construction materials. It subsequently became an external-facing business supplying products such as precast and industrial concrete products, ready-mixed concrete, aggregates, quarry materials, steel and construction-related components. Strategic acquisitions, including Industrial Concrete Products Berhad in 2004, helped broaden this platform and supported diversification into overseas markets such as China, India and Pakistan. Infrastructure concessions give IJM long-term exposure to transport, ports, water and power-related assets. In Malaysia, the group has been associated with toll roads and port operations, including the New Pantai Expressway, Sungai Besi Expressway, Kajang–Seremban Highway, Kemaman Port and Kuantan Port. Its overseas portfolio has included toll roads in India and Argentina, a power plant in India and a water-treatment concession in Vietnam. The group has also held and subsequently disposed of infrastructure investments in China. IJM entered oil-palm plantations in 1985 as a source of recurring income intended to offset the cyclical nature of construction. The plantation business later expanded toward Indonesia and became another operating pillar, although the group's public identity remains most strongly associated with construction, property and infrastructure. In January 2026, Sunway Group announced a conditional cash-and-share takeover proposal for IJM. The IJM board, acting on advice from an independent adviser, recommended that shareholders reject the proposal on the stated view that it undervalued the company. The proposal and response represent a significant strategic development, but do not by themselves establish a change of ownership or control.
History
IJM Corporation's history is rooted in the consolidation of Malaysian construction businesses during the early 1980s. IGB Construction Sdn. Bhd. was incorporated in 1981. Jurutama Sdn. Bhd. traced its corporate history to Soon Tat Construction Sdn. Bhd., established in 1970, while Mudajaya Construction Sdn. Bhd. originated from Chye Hin Construction Co. Ltd., established in 1965. In 1982, IGB Corporation Bhd acquired the shares of Jurutama and Mudajaya in a friendly takeover, bringing the three construction interests into a common corporate structure. Solidstate Sdn. Bhd. was incorporated in 1983 and renamed IJM Engineering and Construction Sdn. Bhd. in 1984. IGB transferred its interests in IGB Construction, Jurutama and Mudajaya into the new company in exchange for shares. This transaction created IJM as the holding company for IGB's construction interests and established the initials that continue to define the group. The company became publicly owned in 1986, when its listing application for Bursa Malaysia's securities market was approved in September. In 1989, the group adopted the name IJM Corporation Berhad and introduced its present corporate identity to signal a business scope broader than construction alone. Diversification proceeded through several related platforms. IJM entered oil-palm plantations in 1985, seeking a steadier income stream to balance construction's economic and project-cycle volatility. The group later developed plantation interests in Indonesia. Its industries division initially supported IJM's own construction requirements, especially for concrete and related materials, but was expanded into a commercial business serving external customers. The acquisition of Industrial Concrete Products Berhad in 2004 strengthened this division, which subsequently developed activities involving concrete products, aggregates, quarrying, steel and construction components. The division also pursued market diversification in China, India and Pakistan. A major turning point came in April 2007 with the acquisition of the Road Builder Group. The transaction made IJM a larger participant in Malaysian construction and added property and infrastructure interests. It also increased the group's balance-sheet scale and operating synergies, supporting bids for larger projects and the pursuit of overseas markets. Road Builder-related assets contributed to IJM's position in Malaysian toll roads and port concessions. IJM's infrastructure activities have included the ownership or operation of toll roads, ports and other concessions. Its Malaysian portfolio has included the Sungai Besi Expressway, New Pantai Expressway and Kajang–Seremban Highway, together with Kemaman Port and Kuantan Port. Overseas investments have included tollway projects in India and Argentina, the Gautami power plant in India and the Binh An water-treatment concession in Vietnam. The group has also invested in infrastructure in China, including assets that were later sold. Property development became another major business through IJM Land Berhad and associated companies. The property platform has developed townships, commercial buildings and high-rise condominiums in Malaysian growth areas. IJM has also undertaken ventures in Singapore, Australia, India and Orlando, United States, at different stages. These activities complemented construction by allowing the group to participate in development and asset creation as well as contracting. By the 2020s, IJM was established as a diversified Malaysian group with operations and investments extending across multiple countries. Its principal business identity remained connected to construction and infrastructure, while property, materials, plantations and concessions provided additional earnings and strategic breadth. In January 2026, Sunway Group launched a conditional takeover proposal combining cash with Sunway shares. IJM's board, advised by an independent adviser, urged shareholders to reject the bid on the grounds that it undervalued the company. The available reference material does not establish that the proposal completed or that IJM ceased to operate independently.
- 2026
Sunway takeover proposal
[1]Sunway Group launched a conditional cash-and-share proposal for IJM. The IJM board recommended that shareholders reject it, citing undervaluation.
- 2007
Road Builder Group acquisition
[1]The acquisition of Road Builder Group strengthened IJM's construction position and expanded its property and infrastructure portfolio.
- 2004
Industrial Concrete Products acquisition
[1]IJM acquired Industrial Concrete Products Berhad, expanding its materials and industrial-products platform.
- 1989
Name changed to IJM Corporation Berhad
[1]The group adopted the IJM Corporation Berhad name and a new corporate identity to reflect diversification beyond construction.
- 1986
Public listing
[1]IJM became a public company, with its listing application approved for Bursa Malaysia's securities market in September.
- 1985
Entry into plantations
[1]IJM entered oil-palm plantations to add a recurring-income business alongside its cyclical construction operations.
- 1983
IJM is formed
[1]Solidstate Sdn. Bhd. was incorporated and became the vehicle for combining IGB Construction, Jurutama and Mudajaya interests.
- 1982
IGB consolidates Jurutama and Mudajaya
[1]IGB Corporation acquired the shares of Jurutama and Mudajaya in a friendly takeover, bringing the three constituent construction interests under common ownership.
- 1981
IGB Construction incorporated
[1]IGB Construction Sdn. Bhd. was incorporated as one of the three construction businesses later consolidated into IJM.
- 1970
Origins of Jurutama
[1]Soon Tat Construction Sdn. Bhd., the predecessor associated with Jurutama, was incorporated.
Products and positioning
A diversified Malaysian engineering, construction and infrastructure group combining project delivery with recurring or asset-backed activities in property, materials, plantations and concessions.
Construction services
Construction and civil engineering
IJM's construction platform delivers building and civil-engineering work, including transport infrastructure, roads, bridges, piling, geotechnical works and related specialist services. The business operates primarily through subsidiaries such as IJM Construction and Road Builder-related companies, serving public-sector infrastructure, commercial development and other large project requirements.
Property development
IJM Land property development
IJM's property interests include township development, residential communities, high-rise condominiums, commercial buildings and mixed-use projects. IJM Land is the principal property platform identified with the group, with projects concentrated in Malaysian growth areas and historical or continuing ventures in selected overseas markets.
Manufacturing and quarrying
Industrial concrete and construction materials
The industries division supplies construction-related materials and components, including industrial and precast concrete products, ready-mixed concrete, aggregates, quarry products, steel and supporting systems. It began partly as an internal supply capability but expanded to serve external markets, with acquisitions and overseas activities broadening its geographic and product scope.
Plantations · 1985
Plantations and palm-oil operations
IJM's plantation business is based on oil-palm cultivation and associated processing and agricultural services. The activity was added to provide income diversification from construction and has included expansion into Indonesia. The group also has businesses connected with palm-oil and edible-oil operations.
Infrastructure concessions
Toll-road concessions
IJM has held and operated toll-road concessions in Malaysia and overseas. Malaysian examples associated with the group include the Sungai Besi Expressway, New Pantai Expressway and Kajang–Seremban Highway, while overseas interests have included tollways in India and Argentina.
Ports and utilities
Port and infrastructure concessions
The infrastructure portfolio also encompasses port operations and other long-term concessions. In Malaysia, IJM has been associated with Kemaman Port and Kuantan Port. Overseas investments described in reference material include a water-treatment concession in Vietnam and a power plant in India.
Brand decisions
2026
Respond to Sunway conditional takeover offerM&ABackground
Sunway Group proposed a conditional acquisition of IJM using a combination of cash and newly issued Sunway shares.
Action taken
Following advice from an independent adviser, the IJM board recommended that shareholders reject the proposal because it considered the offer to undervalue IJM.
Aftermath
The available reference material does not confirm completion of the transaction or a change in IJM's ownership and operating status.
2007
Acquire Road Builder GroupM&ABackground
IJM sought greater scale in Malaysian construction and additional infrastructure and property assets.
Action taken
The group acquired Road Builder Group, described as its nearest competitor, in April 2007.
Aftermath
The transaction expanded IJM's construction order book, land bank and infrastructure portfolio, while increasing its scale for larger tenders and overseas expansion.
2004
Acquire Industrial Concrete ProductsM&ABackground
IJM was expanding an industries division that had originally supported the group's internal construction needs.
Action taken
IJM acquired Industrial Concrete Products Berhad to enlarge its construction-materials and industrial-products platform.
Aftermath
The industries division developed into an external-facing business and pursued diversification into markets including China, India and Pakistan.
1985
Diversify into plantationsStrategyBackground
Construction was a cyclical business, and IJM sought an additional source of recurring income and business diversification.
Action taken
The group entered oil-palm plantations and subsequently pursued plantation expansion, including in Indonesia.
Aftermath
Plantations became one of IJM's operating divisions alongside construction, property, materials and infrastructure.
Recent events
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