Two Southeast Asia 500 companies may merge—forming Malaysia’s largest construction conglomerate

Malaysian construction giant Sunway has announced a $2.7 billion share-and-cash takeover of competitor IJM Corporation, which would bring together two of Malaysia’s largest property developers. 

The proposed merger, announced on Jan. 12 by Sunway president Anuar Taib, will form an entity with a combined market capitalization of $11.7 billion, surpassing current leader Gamuda Berhad, valued at $7.2 billion. 

If the merger goes through, it will create one of Malaysia’s largest property...