On 27 June 2001, approval was obtained from the shareholders of the Company for IJM Overseas Ventures Sdn Bhd (“IJMOV”), a wholly-owned subsidiary, to dispose of its entire 138,575,339 “B” shares of CNY1 each representing 13.77% of the issued capital of Guangdong Provincial Expressway Development Co Ltd (“GPED”) (“the Disposal”).  At that juncture, IJMOV had already disposed 73,519,422 shares.

The Company is pleased to announce that IJMOV has completed the disposal of the remaining 65,055,917 shares for a total consideration of HK433,802,126 (approximately RM189 million) realizing a net profit of approximately RM109 million, of which about RM4.8 million has been accrued in the last financial year ended 31 March 2007.