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THE Employees Provident Fund has yet to decide whether to accept a voluntary conditional takeover offer for its stake in IJM Corporation Berhad by Sunway Berhad, saying it will wait for the findings of an independent adviser before reaching a conclusion.
Chief executive Ahmad Zulqarnain Onn said the fund is currently awaiting the adviser’s report, expected by 16 March, before undertaking the necessary governance processes.
“Then we will go through the required governance process in making a decision,” he said at a briefing on the EPF’s financial performance today.
The EPF is estimated to hold about 20 per cent of IJM, making it one of the company’s largest shareholders.
On 12 January, Sunway announced a voluntary conditional offer to acquire all ordinary shares in IJM at RM3.15 per share, valuing the deal at approximately RM11 billion.
In a separate development, the EPF described a proposal to allow members to withdraw savings to purchase basic medical and health insurance or takaful products as a positive step.
Ahmad Zulqarnain said the initiative forms part of a cross-government effort to introduce a basic level of medical insurance accessible to all Malaysians.
“This is a cross-government effort to introduce a basic level of medical insurance that can be accessed by all Malaysians. I think this is a good thing.
“We are waiting for details from Bank Negara Malaysia and the insurance industry regarding the specific terms of this policy.
“But in principle, this is something positive because Malaysians are generally underinsured in terms of medical coverage. Overall, this is a positive development,” he said. - February 28, 2026