(i)

renounceable rights issue of up to 134,931,940 IJM Warrants on the basis of one (1) IJM Warrant for every ten (10) existing IJM Shares held; and

(ii)

listing of and quotation for the IJM Warrants on the Main Market of Bursa Malaysia Securities Berhad.

The SC has also granted a waiver to the Company from complying with Paragraph 6.24 of the Guidelines on the Offering of Equity and Equity-Linked Securities issued by the SC (“SC Guidelines”) in the event that the Company utilises part of the proceeds to be raised from the Proposed Rights Issue Of Warrants to subscribe for the redeemable convertible unsecured loan stocks to be issued by Lebuhraya Kajang-Seremban Sdn Bhd, which is a jointly-controlled entity between the Company and KASEH Lebuhraya Sdn Bhd. Paragraph 6.24 of the SC Guidelines stipulates that an issuer must comply with the relevant requirements as set out in Chapter 7, Part II of the SC Guidelines if the issuer is proposing to issue securities to finance, inter-alia, a proposed acquisition of assets.

The approval of the SC is conditional upon RHB Investment Bank Berhad and IJM fully complying with the relevant requirements pertaining to the implementation of the Proposed Rights Issue of Warrants under the SC Guidelines.