Sunway's Fundamentals May Remain Intact After IJM Bid Fails -- Market Talk

Dow Jones
04/07

0253 GMT - Sunway's standalone fundamentals may remain intact even though its voluntary takeover offer period for IJM has lapsed, TA Securities analyst Thiam Chiann Wen says in a note. The failed bid could remove a key overhang, allowing investors to refocus on Sunway's core earnings and underlying value, she reckons. Sunway's 2026 earnings could be supported by its property and construction segments, though this would be partly offset by dilution from its reduced stake in Sunway Healthcare following its listing, she says. Its valuation appears more attractive after recent stock weakness. Sunway's growth is underpinned by resilient property sales, strong contributions from unit Sunway Construction, and its continued expansion in healthcare. TA Securities upgrades Sunway's rating to buy from hold and trims its stock target price to 5.75 ringgit from 6.25 ringgit. (yingxian.wong@wsj.com)

 

(END) Dow Jones Newswires

April 06, 2026 22:53 ET (02:53 GMT)

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