Kuala lumpur: Permodalan Nasional Berhad (PNB) has no influence over any corporate decisions of IJM Corporation Bhd (IJM) as it is only a minority shareholder, Deputy Prime Minister Datuk Seri Fadillah Yusof said. He stated that PNB holds a stake of less than 13.5 per cent in IJM, which limits its capacity to influence the company's direction or strategic decisions.
According to BERNAMA News Agency, Fadillah clarified that this approach aligns with standard capital market practices, where each shareholder independently assesses an open offer. He conveyed this during the winding up of the debate on the motion of thanks for the royal address for the Energy Transition and Water Transformation Ministry (PETRA) in the Dewan Rakyat.
Fadillah, who also serves as the Minister of Energy Transition and Water Transformation, further explained that the offer from Sunway Bhd is a voluntary general offer. This means it is made equally to all IJM shareholders and is not negotiated with any specific shareholder, including PNB or any other institution. He added that other interested parties could also submit competitive alternative offers.
As one of IJM's shareholders, PNB is merely a recipient of the offer, standing in the same position as all other shareholders, Fadillah noted. He also emphasized that the government will not interfere in any investigations related to allegations of money laundering and corruption involving multi-billion-ringgit investment transactions linked to IJM and Sunway Bhd.
Fadillah assured that the matter will be fully entrusted to the Malaysian Anti-Corruption Commission (MACC) for further action. It was previously reported that MACC is focusing on allegations involving IJM in connection with a purported RM2.5 billion money laundering scheme and has identified a top management member of the company, bearing the title 'Tan Sri,' and a company adviser as persons of interest. Additionally, the MACC is investigating allegations of share price manipulation believed to have occurred when the Sunway Group was attempting to take over IJM through a deal valued at RM11 billion.