Look at the quarterly report, out of RM3010m borrowings, only 17.5% or RM529m(USD200m) is in USD. Let say RM/USD weakening from 3.20 to 3.60, the loss in currency exchange is only 200m*RM0.40=RM80m or RM0.025 per share.
I find that it is very cheap, but I dunno whether it will go down further or it is already at the bottom and to rebound very soon. We cant control the market. As for target price, please wait for recommendations from broker firms in next few days.
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luiluilui
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Posted by luiluilui > 2015-02-14 15:50 | Report Abuse
http://www.theedgemarkets.com/my/article/ioi-properties-2qfy15-profit-drops-66-higher-marketing-expenses