00:05With my advisor, we looked at IGN. We thought that we can create and extract a lot of value,
00:11all of it, if we were to be in charge. And we looked at the few areas where there are
00:20weak ads and how we can merge it. And we are very confident of very good extraction of value.
00:28So finally, if we engaged Maybank and UPS, okay, look at it. So that's how we started.
00:37So we make, we study and study what is the best that can attract the shareholders of IGN to
00:48to give their share to us, not selling out IGN. It's just that they are getting Sunway share,
01:00a better performing platform, I would say. After we show you the chart over the last 10 years,
01:09how Sunway has performed compared to all the others, our peers. So this is the one. You look at that.
01:18Over the last 10 years, 2015 to 2025, Sunway improved by 300 and
01:2530 percent. It is, no, 39 percent here. The share price. The share price. But with the dividend and all
01:34this
01:34will be higher. So you look at Camuda is 140. YTL is only 37. SYNW is 16. IJM minus 33.
01:45UEM minus 51. MRCP minus.
01:56So my take is a story to say, you know, that our funds, GFIC, should not take on
02:07operating company as they are only, they are fund manager. They invest in shares and that's why
02:15all around the world, big funds, when they invest, they have a deadline, six years, they will try and get
02:22up. Yeah, they don't go into operating company. This is a good testament that the funds should not go into
02:34like, you see, UEM, MRCP, SPC2. Now, IJM now, of course, will be, you know, it's a subject of discussion.
02:48But I think with this kind of result over the last 10 years, if I am IJM shareholder, why don't
02:55I join
02:55Sunway? I'm not going out. I just exchange shares and we give them 10% cash. It's not that we
03:04cannot,
03:05we, you know, give more cash. But I thought that they should stay with us and get more of Sunway
03:13share.
03:14Yeah. So as far as GLC is concerned, they are not getting out. They are not selling to a Chinaman
03:22or
03:22something like that. No. So part and parcel of a Malaysian conglomerate. True, true Malaysian leading it.
03:32And, and, and we have proven that with good track record. And we work out the offer. The offer we
03:42have made,
03:43I thought is very, very fair. Very, very fair. Because there's a lot of long-term
03:50extraction from what IJM has into Sunway balance sheet. It will be fantastic. The shareholders,
03:58like I keep telling the, the, the, the, the GLC, hey, my friend, you are not getting out. You are
04:04part of Sunway.
04:06You should work for it. And you look at this chart. It's no-brainer. I, I don't think you,
04:13you are doing your fiduciary duty by not accepting this offer because you will continue to ride this way.
04:23And you are not giving value to your unit holder. Of which some, a lot of my friends are unit
04:29holder.
04:30You should be giving, make a, a very objective decision. That's a fun, you know.
04:37If they can come and argue whatever, you look at this chart. It's nothing to argue. We can do better.
04:45And our brand and our people are much more productive. Culture is right, you know. And people
04:58believe in us. And the leadership, you know, what we have put in place are all of high integrity. So,
05:07why not? But I mean, if they decide to, to go that way, I, I can say much, you know,
05:13just,
05:14are they doing their fiduciary duty? You know, under the SC ruling, we have two months,
05:23we have offered, we have two months to finalize. That means 6th April is the final date that they
05:32have to accept or reject. Okay. I have already said that this is my best offer.
05:39You, you take it. If you don't take it, we will walk out. You know what I mean? We walk
05:44away. That's all.
05:45You know, that's because if, first of all, it may signal something not so good to give,
05:53you know, 24,000 shareholders. Everybody has a mouth. You know, you give some, they will
06:00non-stop bargaining. Where is that end? So, we have to stop there. We work out. It's a very fair
06:07deal
06:07for you. It's a very fair deal.
06:16It's a very fair deal.
06:23You know,
06:24yeah.
06:24You know,
06:24you know,
06:24we have to stop it.
06:25I'm like,
06:25I'm just going to go.
06:25that's where we go.
06:26I'm just going to go.
06:26I'm going to go.
06:26I'll be on the end.
06:27I'm going to go.
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