IJM Corp on track for proposed IJM Construction listing in 3Q 2027, says group CEO

IJM Corporation Bhd has announced plans to list its wholly-owned subsidiary, IJM Construction Sdn Bhd, in the third quarter of 2027. The company's group CEO and managing director, Datuk Lee Chun Fai, revealed that preparations for the proposed listing are already underway. Lee stated that the group aims to distribute RM3 billion to shareholders over the next three years, equivalent to an annual dividend of 28 sen per share and a three-year yield of 30 percent.

The potential sources of the distribution include annual dividends, special dividends, profits from the IJM Construction listing, toll monetisation, and an India exit. The proposed IJM Construction listing would provide investors with pure-play exposure to the construction sector, separate from IJM Corp's diversified portfolio. Following the India exit, Lee expects the company to focus on Singapore and the United Kingdom, with a 45 percent-owned company already operating in Singapore.

IJM Corp anticipates improved operational performance in FY2027, driven by strong construction orders, record industry pile orders, recovering property sales, and stable infrastructure performance. The construction division's order book currently stands at RM14.5 billion, and IJM Construction secured RM1.77 billion in new projects in FY2027.