IJM shareholders to vote on share buy-back renewal, director re-elections at Aug 27 AGM

PETALING JAYA (July 29): IJM Corp Bhd shareholders will vote on the renewal of the group's share buy-back mandate, the re-election of three directors and several resolutions relating to directors' remuneration at the company's 42nd annual general meeting (AGM) on Aug 27.

According to a Bursa Malaysia filing on Tuesday (July 28), shareholders will also consider the reappointment of PricewaterhouseCoopers PLT as external auditor and authorise the directors to fix the auditor's remuneration.

Managing director and group CEO Datuk Lee Chun Fai is seeking re-election by rotation under the company's constitution, alongside Azhar Ahmad, while Gunavathi A/P Subramaniam is seeking re-election after retiring under a separate constitutional provision.

Other resolutions include approval for the payment of fees and benefits to non-executive directors for the period from Aug 28, 2026 until the next AGM. Shareholders will also be asked to approve directors' fees and meeting allowances payable by the group's subsidiaries to several non-executive directors.

The AGM will be held at 10am on Aug 27 at the Hilton Petaling Jaya, with Aug 19 fixed as the entitlement date for shareholders to attend and vote at the meeting.

Separately, shareholders will receive the group's audited financial statements for the financial year ended March 31, 2026, together with the reports of the directors and auditors.

IJM recently reported its first quarterly loss since 2008, posting a net loss of RM173.89 million for the fourth quarter ended March 31, 2026, mainly due to unrealised foreign exchange losses, impairment on unsold inventories and provisions for maintenance costs on an Indian highway project.

The fourth-quarter loss reduced the group's full-year net profit to RM3.25 million, compared with RM403.38 million in the previous financial year, despite revenue increasing 10% to RM6.88 billion.

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