KLSE (MYR): IJM (3336)
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Last Price
2.64
Today's Change
+0.01 (0.38%)
Day's Change
2.59 - 2.65
Trading Volume
5,949,900
Better sell now, heard the boss lock up by macc already..
When announce on tomorrow, straight will limit down
2025-03-19 13:56
Don't create fear in the market. KLSE is already battered badly since the beginning of the year
2025-03-19 14:51
thanks ijm for short ride..
done sold back all at rm1.95 -1.94
tut tut
lepas duit bazar
2025-03-19 16:22
Manipulation behind the scenes for IJM stock. May rebound or sink down further. IB has been giving high TP for some time taking many to Holland. This is the toxic casino de bursa..
2025-03-20 09:15
Bought some IJM, for the 1st time, after last exiting completely on 23/8/22.... @ $1.90 yesterday
Already predicted a rebound few days ago:
htt ps://stocklaser.blogspot.com/2025/03/possible-big-rebound-support-zones-for.html
2025-03-20 09:57
Buy3 Statistics
52w high/low (MYR)
3m avg turnover (USDm)
Free float (%)
Issued shares (m)
Market capitalisation
3.69/2.11
6.0
61.0
3,648
MYR8.1B
USD1.8B
Major shareholders:
Employees Provident Fund 13.9%
Kumpulan Wang Persaraan
Permodalan Nasional Bhd.
9.1%
5.3%
2025-03-20 16:48
Maybank: BUY
Share Price MYR 2.23
12m Price Target MYR 3.35 (+53%)
Previous Price Target MYR 3.60
Company Description
IJM Corp. is a conglomerate with operations in
construction, property development, manufacturing
and quarrying, plantation, and infrastructur
2025-03-20 16:49
IJM Corporation (IJM MK)
3QFY25: Shortfall
Lowering TP to MYR3.35; maintain BUY
IJM’s 9MFY25 core net profit was MYR353m, we est., at 68% of our FY25
forecast with the shortfall coming from assoc-WCE (widened losses). We
lower FY25-27E core net profit forecasts by 5%-12% on raising our FY25E
loss forecast for WCE, and lowering our construction job win and property
sale assumptions for FY25E. Our new RNAV-TP is MYR3.35 (-25sen). BUY
maintained; we continue to like IJM for its diversified base in construction,
industry (piles & RMC products), property, port and toll roads.
9MFY25 core net profit up 16% YoY, we est.
Excluding -ve one-offs of MYR6m/MYR79m in 3Q/9MFY25, we est. core net
profit was MYR119m in 3Q (-9% QoQ) and MYR353m in 9M (+16% YoY). The
major one-off in 9M was a MYR75m unrealised FX loss for its overseas
property and toll ops. QoQ, construction, industry and port PBT were lower
in 3Q, likely due to the YE monsoon. The toll op posted a larger loss due
to WCE Hldgs (WCE MK, Not Rated, CP: MYR0.775), whose net loss widened
to MYR89m in 3Q from MYR11m in 2Q due to a MYR62m RPGT provision for
the sale of shares (now under appeal). YoY, 9M construction PBT rebounded
85% on higher works recognition (+50%), while property PBT (ex FX impact)
also rose 14%. This offset lower toll and port PBT (topline down 3% YoY).
MYR11.5b o/s order book, MYR1.6b unbilled prop sales
New construction jobs secured in FY25-YTD totalled MYR2.7b, bringing the
outstanding orderbook to MYR11.5b (incl. its share of assocs’ orderbook).
With just one more month until the end of FY25 (March), we think that its
internal MYR5b job win target for FY25 is overly optimistic. At its property
ops, 9MFY25 sales was MYR907m with unbilled sales at MYR1.6b. This
compares to its internal target of MYR1.6b-MYR1.7b new sales for FY25E,
impacted by delays in obtaining project approvals from the authorities.
Revising earnings forecasts
We raise our WCE FY25E net loss projection to MYR153m (IJM’s share is
MYR63m) from MYR98m. We also cut our construction job win assumption
for FY25E to MYR3.5b (from MYR5b), and property sales to MYR1.2b (from
MYR2.2b), but maintain our FY26E MYR4b job win and MYR2.2b property
sales assumptions – with the delays in FY25E due to timing. This leads to
lower core net profit forecasts by 5%/12%/10% for FY25/26/27E each.
FYE Mar (MYR m) FY23A FY24A FY25E FY26E FY27E
Revenue 4,572 5,919 6,858 6,979 8,286
EBITDA 1,103 1,343 1,431 1,439 1,602
Core net profit 338 506 495 497 586
Core EPS (sen) 9.6 14.4 14.1 14.2 16.7
Core EPS growth (%) 32.2 50.1 (2.2) 0.5 17.8
Net DPS (sen) 8.0 8.0 8.0 8.0 8.0
Core P/E (x) 16.7 16.9 15.8 15.7 13.4
P/BV (x) ROAE (%) ROAA (%) EV/EBITDA (x) 0.6 0.8 0.7 0.7 0.7
Net dividend yield (%) 5.0 3.3 3.6 3.6 3.6
1.6 6.0 4.8 4.7 5.4
1.6 2.4 2.3 2.4 2.8
7.6 8.5 7.2 7.0 6.7
Net gearing (%) (incl perps) 23.1 23.4 19.3 15.9 20.0
Consensus net profit - - 518 592 670
MIBG vs. Consensus (%) - - (4.5) (16.1) (12.7)
Wong Chew Hann
2025-03-20 16:49
Like natgate, it would fly back pretty fast. Share buyback by the company + epf & kwap buying the shares like no tomorrow
2025-03-21 06:01
Now, the largest shareholders of IJM are:
1. Epf 2. Kwap, and 3. Pnb
It is entirely public money.
Buy b4 its rebound like crazy, at least 20-30sen easy money by next week hehe
2025-03-21 06:03
With investments gain, 6.3% (which remains in EPF), minimum wages an and Foreign workers contributions...EPF got more bullets for Bursa...next year more than 6.3%...What more with special channels on corporates insider news...
2025-03-21 11:36
Trust the CFO, a person who controls IJM's numbers. theedgemalaysia.com/node/748986
2025-03-24 17:45
Like the chinese saying” if no wind, wont have waves” if got waves sure got wind
2025-03-24 17:58
very simple solution: investigate kaw kaw IJM & exCEO
if nothing wrong, investigate the source of the info kaw kaw
either 1 party is guilty.
2025-03-25 07:48
dompeilee
Bought some IJM, for the 1st time, after last exiting completely on 23/8/22.... @ $1.90 yesterday
Already predicted a rebound few days ago:
htt ps://stocklaser.blogspot.com/2025/03/possible-big-rebound-support-zones-for.html
6 days ago
SOLD most of my remaining IJM for the $2.08 open this morning. Ergo, 1,156 days successively in the personal marathon!!!🤗
2025-03-26 10:32
https://www.freemalaysiatoday.com/category/business/2025/05/15/uk-economy-grew-more-quickly-than-forecast-in-early-2025
IJM investment in JRL Group UK can be beneficial.
1 month ago
More job wins for IJM in FY2026
https://www.thestar.com.my/business/business-news/2025/06/03/ijm-continues-to-target-more-job-wins-for-fy26
1 month ago
iyin666
If Nanyang report is true, should sell IJM first n wait
2025-03-19 13:40