IJM Corporation Bhd’s indirect wholly-owned subsidiary IJM Properties Sdn Bhd has proposed to dispose of a property in Sandakan, Sabah, for RM47.5 million.

In a Bursa Malaysia filing, IJM said the asset—comprising a single-storey building with a mezzanine floor at Utama Place 3, Bandar Utama—is being sold to Coupang Sdn Bhd. The property is currently used as a hypermarket.

The land has a net book value of RM12.02 million and was valued at RM33.6 million as at March 31, 2025. IJM expects to record an estimated gain of about RM34 million from the disposal.

The group said the transaction will allow it to unlock asset value, improve liquidity and optimise capital allocation. Of the RM47.5 million proceeds, RM46 million will be used for working capital, while RM1.5 million will cover disposal-related expenses.

Completion of the disposal is expected by the third quarter of 2026.

Sourced: The Malaysian Reserve (19 June 2026)