{"id":271416,"date":"2026-02-06T23:34:09","date_gmt":"2026-02-06T23:34:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/271416\/"},"modified":"2026-02-06T23:34:09","modified_gmt":"2026-02-06T23:34:09","slug":"epf-lifts-stake-in-ijm-to-20-4","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/271416\/","title":{"rendered":"EPF lifts stake in IJM to 20.4%"},"content":{"rendered":"<p>KUALA LUMPUR (Feb 6): The Employees Provident Fund (EPF) has further increased its stake in in IJM Corporation Bhd to 20.4%, solidifying its position as the largest shareholder in the construction outfit.<\/p>\n<p>\u00a0In a bourse filing on Friday, the retirement fund said it acquired 4.07 million IJM shares in three tranches on Feb 3, raising its total shareholding to 714.91 million shares.<\/p>\n<p>No transaction price was disclosed, but EPF is estimated to have spent around RM11.11 million on that day based on the closing price of RM2.73 per share.\u00a0<\/p>\n<p>Including these transactions, the EPF has accumulated nearly 60 million shares in IJM in multiple transactions since Sunway Bhd (KL:<a href=\"https:\/\/theedgemalaysia.com\/askedge\/klse\/5211\" class=\"ce-stock\" target=\"_blank\" rel=\"nofollow noopener\">SUNWAY<\/a>) launched a voluntary general offer for IJM on Jan 12. This represents an increase of 1.69% from its initial 18.7% stake.<\/p>\n<p>In a separate development, IJM chairman Tan Sri Krishnan Tan was released on Friday after being detained overnight to assist investigations by the Malaysian Anti-Corruption Commission (MACC).<\/p>\n<p>Without naming Tan, MACC chief commissioner Tan Sri Azam Baki\u00a0 said the company&#8217;s top official was released within 24 hours due to his health condition.<\/p>\n<p>\u201cThe investigation is still ongoing, and I am unable to comment on whether he will be charged at this stage,\u201d Azam told The Edge in a text message when asked about the detention.<\/p>\n<p>IJM is being probed by the MACC as the agency cooperated with the UK Serious Fraud Office in investigating allegations of a RM2.5 billion money laundering scheme involving individuals linked to the company.<\/p>\n<p>The construction and infrastructure company has rejected the allegations, describing the claims as unfounded.<\/p>\n<p>In January, investigators from the MACC visited IJM\u2019s office, alongside officers from the Inland Revenue Board to obtain documents.<\/p>\n<p>Shares of IJM closed seven sen or 2.5% lower at RM2.73 on Friday, valuing the company at RM9.96 billion.\u00a0 The stock has risen 20% since the start of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"KUALA LUMPUR (Feb 6): The Employees Provident Fund (EPF) has further increased its stake in in IJM Corporation&hellip;\n","protected":false},"author":2,"featured_media":271417,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[138,246,111,139,69,244,245],"class_list":["post-271416","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-new-zealand","tag-newzealand","tag-nz","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/271416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=271416"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/271416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/271417"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=271416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=271416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=271416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}