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LAGENDA - Technical View - 1 Apr 2026.pdf
465.4 KB
Technical BUY on Lagenda Properties Bhd (LAGENDA, 7179) breaking out from consolidation with next target RM1.48- RM1.56
#TechnicalIdeas
#TechnicalIdeas
Buy RON95 @ RM1.99/L with Setel. Sign up with my referral code and we’ll both earn RM3 after you spend RM30 on fuel or at Kedai Mesra.
My referral code: ksjs2
https://www.setel.com/ref/ksjs2
My referral code: ksjs2
https://www.setel.com/ref/ksjs2
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IJM-260402-CU (Kenanga).pdf
360 KB
Kenanga Resesarch has Outperform call on IJM Corporation Bhd (IJM, 3336) with target price of RM3.40 - another data centre job win of RM658 million (total 7 data centre jobs so far)
#KenangaBuyCall
#KenangaBuyCall
Open malacca securities/ mplus cds account: https://bit.ly/openmplusaccountloh
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MALAKOF - Technical View - 7 Apr 2026.pdf
565.3 KB
Technical BUY on Malakoff Corporation Bhd (MALAKOF, 5264) with bullish momentum heading towards RM0.86 - RM0.91
#TechnicalIdeas
#TechnicalIdeas
Sunway fails in bid to take over IJM…
🔴 Why the takeover failed
• The deal was a conditional voluntary takeover — Sunway needed to secure more than 50% of IJM shares from shareholders. 
• By the deadline (April 6, 2026), not enough shareholders accepted the offer, so the bid automatically lapsed. 
👉 In simple terms:
Even though Sunway wanted the deal, shareholders didn’t sell enough shares, so it couldn’t go through.
⸻
⚠️ Key reasons it failed
1. IJM board rejected the offer
• IJM’s board said the offer was “not fair and not reasonable”. 
• Independent advisers estimated the price was ~46%–51% below IJM’s fair value. 
2. Major shareholders said NO
• Big investor Permodalan Nasional Berhad (PNB) refused to accept the offer for its stake. 
• Without support from large shareholders, reaching 50% was unlikely.
3. Strategic resistance by IJM
• IJM argued the bid came at a low point in its earnings cycle, while its assets still had strong value. 
• The company even explored plans (like asset monetisation) to prove it was worth more.
4. Other complications
• The deal also faced:
• Regulatory scrutiny (MACC review)
• Political and market sensitivities
• These didn’t directly kill the deal, but added pressure.
⸻
💰 What the deal looked like
• Total value: about RM11 billion
• Offer: RM3.15 per IJM share
• Structure:
• ~10% cash
• ~90% Sunway shares 
⸻
🧠 Bottom line
Sunway didn’t “lose” due to a single event — it failed because:
• Price seen as too low
• Board + major shareholders resisted
• Not enough shares tendered
So when the deadline hit, the takeover simply expired.
🔴 Why the takeover failed
• The deal was a conditional voluntary takeover — Sunway needed to secure more than 50% of IJM shares from shareholders. 
• By the deadline (April 6, 2026), not enough shareholders accepted the offer, so the bid automatically lapsed. 
👉 In simple terms:
Even though Sunway wanted the deal, shareholders didn’t sell enough shares, so it couldn’t go through.
⸻
⚠️ Key reasons it failed
1. IJM board rejected the offer
• IJM’s board said the offer was “not fair and not reasonable”. 
• Independent advisers estimated the price was ~46%–51% below IJM’s fair value. 
2. Major shareholders said NO
• Big investor Permodalan Nasional Berhad (PNB) refused to accept the offer for its stake. 
• Without support from large shareholders, reaching 50% was unlikely.
3. Strategic resistance by IJM
• IJM argued the bid came at a low point in its earnings cycle, while its assets still had strong value. 
• The company even explored plans (like asset monetisation) to prove it was worth more.
4. Other complications
• The deal also faced:
• Regulatory scrutiny (MACC review)
• Political and market sensitivities
• These didn’t directly kill the deal, but added pressure.
⸻
💰 What the deal looked like
• Total value: about RM11 billion
• Offer: RM3.15 per IJM share
• Structure:
• ~10% cash
• ~90% Sunway shares 
⸻
🧠 Bottom line
Sunway didn’t “lose” due to a single event — it failed because:
• Price seen as too low
• Board + major shareholders resisted
• Not enough shares tendered
So when the deadline hit, the takeover simply expired.