Sunway’s $2.7 Billion IJM Bid Questioned Over Bumiputera Rights

Sunway Bhd.’s proposed 11 billion ringgit ($2.7 billion) takeover of IJM Corp Bhd. is drawing political scrutiny over concerns that it could dilute both the equity interests of the government and the rights of Malaysia’s indigenous majority.

Akmal Saleh, the youth chief of the United Malays National Organisation that’s a key member of Prime Minister Anwar Ibrahim’s ruling coalition, raised concerns over the deal in a Facebook post on Sunday. The Malay Businessmen and Industrialists Association is also questioning the deal, according to a separate report in Free Malaysia Today.