|
| |
Overview
Financial Highlight
HeadlinesBusiness Background IJM Corp Bhd operates in construction, property development, manufacturing, infrastructure concessions, and plantations. It constructs hotels, residential complexes, highways and transportation systems, and other large industrial structures. In addition, the company provides construction materials for in-house support and external customers. It utilizes quarry operations, ready-mixed concrete, scaffolding, and other supplies to provide reliable solutions. IJM has five operating segments: Construction, Property development, Manufacturing and quarrying, Plantation, and Infrastructure. The Plantation division employs research and development for enhancing seed production and planting materials. The majority of the company's revenue is derived from Malaysia.
  Gn021 Following the robust reaction from the joint venture (JV) and those who would be affected by its earlier decision to take away the remaining work on the underground portion of the mass rapid transit Line 2 (MRT2) project, the Cabinet yesterday decided that an attempt be made to bridge the divide. “They will go back to the negotiation table to resolve this,” a source told The Edge Financial Daily. “The door remains open and hopefully a fresh tender can be avoided”. It is learnt that four ministers led by Finance Minister Lim Guan Eng will be involved in the renegotiation. They are Economic Affairs Minister Datuk Seri Mohamed Azmin Ali, Transport Minister Anthony Loke and Works Minister Baru Bian. 11/10/2018 09:26 tamp0i Entered some yesterday 1.45 i believe it will rebound, at least according to technical sheet 11/10/2018 09:27 Gn021 （吉隆坡11日讯）金务大（Gamuda Bhd）今早交投活络，上涨2.42%，似乎成为了马股一片红海当中的一点绿。 截至早上9点21分，金务大起5仙，至2.12令吉，约2115万股易手。 根据《The Edge》财经日报报导，内阁昨天决定重新谈判捷运2号线（MRT2）计划地下工程。 知情人士告诉《The Edge》财经日报：“他们将重新谈判，解决这个问题。这个大门一直都在打开，希望可以避免重新招标。” 据了解，以财政部长林冠英为首的4名部长将会参与谈判活动，包括经济事务部长拿督斯里阿兹敏、交通部长陆兆福及工程部长巴鲁比安。 11/10/2018 10:45 EatCoconutCanWin IJM GO go go ....dont let the small ikan bilis catch lower price.hahaha 12/10/2018 15:06 michaelwong Unless all construction stocks started to rebound sustainably , to take ijm to reach RM 2 is still in the crossroads 18/10/2018 18:09 PKok6655 PROPOSED ESTABLISHMENT OF A LONG TERM INCENTIVE PLAN FOR THE ELIGIBLE EMPLOYEES AND DIRECTORS OF IJM 24/10/2018 12:37 Gn021 http://www.klsescreener.com/v2/news/view/448936/ioi%E9%9B%86%E5%9B%A2-%E5%8E%9F%E6%A3%95%E6%B2%B9%E5%87%BA%E5%8F%A3%E4%B8%8E%E7%94%9F%E7%89%A9%E6%9F%B4%E6%B2%B9%E4%BA%A7%E9%87%8F%E5%A2%9E%E5%B0%86%E6%8E%A8%E5%8A%A82019%E8%B4%A2%E5%B9%B4%E4%B8%9A%E7%BB%A9 27/10/2018 01:48 Gn021 OI集团表示正在寻求收购，尤其是在印尼和大马的现有种植园。 李耀祖说：“我们希望收购毗邻的种植园，因为容易结合和管理……目前，我们在大马的棕油有三分之二来自沙巴，而余下来自西马。” 据媒体报道，IJM种植（IJM Plantations Bhd）的竞购方包括IOI集团和合成种植（Hap Seng Plantations Holdings Bhd）。消息称，由于财力和目前位于沙巴和砂拉越的种植园地点，IOI集团看高一线。 根据IOI集团最新年度报告，截至6月30日，该集团的现金为27亿6000万令吉。 27/10/2018 01:48 Gn021 Buy the rumour, sell the fact mah ..................., what if really IOI buy IJM plantation ? 28/10/2018 03:57 Gn021 http://www.enanyang.my/news/20181008/%E9%87%91%E5%8A%A1%E5%A4%A7-%E9%A9%AC%E7%9F%BF%E4%B8%9A%E6%8D%B7%E8%BF%90%E5%9C%B0%E5%BA%95%E5%B7%A5%E7%A8%8B%E4%B8%AD%E6%AD%A2-2%E4%B8%87%E4%BA%BA%E9%A5%AD%E7%A2%97%E6%81%90%E4%B8%8D%E4%BF%9D/ 28/10/2018 03:57 5354 PH no cut? Why drop? Posted by Gn021 > Oct 28, 2018 04:02 AM | Report Abuse IJM have 1470 millions contract in MRT 2 28/10/2018 05:06 Gn021 Lol, u expect immediately rebound meh ? It take time ok, u can check back 8 October, ijm drop bcos of termination of mrt2, it also take around 1 week to rebound mah 28/10/2018 20:39 Gn021 The news continue of mrt2 come out on friday around 3:30 pm, u expect 1 hour can immediately rebound ? 28/10/2018 20:40 TunDiam This is the lowest IJM will be for the rest of 2018. Better buy now I feel. Should close the year closer to RM1.90 / RM1.95 08/11/2018 16:18  Penang123 http://www.bursamalaysia.com/market/listed-companies/company-announcements/5984029 26/11/2018 17:24 beso ijm reported 60% drop in net profit yoy, sure sell down 2moro all big construction players are in trouble 26/11/2018 18:55  villa1668 Construction company having a bad time, avoid it, visit again next 3 years. 26/11/2018 23:20 CharlieSim everyone should expect and know that construction coys will be reporting lower profits, and they have been discounted in their prices... any cheaper price shall be a bargain for long term investors... of course, nobody when will be the bottom...bless all :)) 27/11/2018 10:37 Huilim1 CARIMIN (CODE : 5257) ROCKSSS 0.325>>>>>>>>>>0.34, OUR 1ST TGT ACHIEVED Text me on WHATSAPP: - +60-11-5794-1370 05/12/2018 15:49  markstrong MWE and Mamee related parties in IJM https://klse.i3investor.com/servlets/forum/904959459.jsp?fp=2 29/12/2018 15:21 commonsense Excluding the forex losses and other exceptional items, IJM’s 1H19 core net profit is actually around RM230mil. The tepid performance is mainly due to the under performance of all the company’s divisions in particular the construction, industry and plantation divisions. Progress for the construction projects are expected to be slow going forward especially the RM1.1bil LRT3 contract. It is still unclear if the main contractors (Gkent and MRCB) will try to negotiate for a lower contract value (and profit margin) given the government decision to scale down the size of the project and stretch longer the project's duration (from 2020 to 2024). The division will still be the main contributor to the group’s revenue and bottom line backed by the RM8.8b orderbook. However, investors need to expect a lower profit margin in the near to mid-term in line with the federal government objective to cut cost (some of the projects might be under review for cost optimisation). Plantation division is expected to post weaker revenue and profit for the rest of FY19 given the weak CPO price, weak Rupiah and higher operational cost mainly from the increase of labour cost. 4 analysts are projecting a core profit of RM424mil for FY19 which means at the current price, IJM is trading at a valuation of 13.5x PE which is slightly higher than the construction and property industries average of less than 10x PE. That being said the same analyst also expect profit to grow to RM480mil in FY20 which means valuation for IJM will drop to only 12x PE. But this all depends on a smooth progress of the construction’s projects in hand, better property sales and also a rebound of CPO price. Any hiccups on these bullish assumptions will push the profit lower. If you are looking to diversify your portfolio outside of IJM (due to the earnings uncertainties from both the construction and plantation divisions), I would recommend you to look at MBMR. MBMR is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.0x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.5x BV. 4Q18 results is expected to be higher than 3Q18 and last year's 4Q17. For FY19 growth will be driven by the still high demand of new Myvi and the launch of the new SUV in 1Q19 and also the new Alza in 2H19. Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions. Most analysts have a TP of above RM3 for the company with Hong Leong being the lowest at RM3.13 and Maybank the highest at RM4.18. Good luck. 03/01/2019 09:07 icedvestor https://www.thestar.com.my/business/business-news/2019/01/07/ijm-to-build-rm4bil-the-light-city-this-year/ 07/01/2019 23:01  Ron90 price sholud be closed at 1.74...buy again BSKL really lousy trading program where IB can manipulate the end price. dont hope transparency in BSKL, even now under PH..same lousy management. 15/01/2019 00:54  |
|
