Forum : Stock: [IJM]: IJM CORPORATION BHD

IJM CORPORATION BHD

KLSE (MYR): IJM (3336)

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Last Price

2.96

Today's Change

+0.02 (0.68%)

Day's Change

2.94 - 2.98

Trading Volume

427,800

2 people like this.

2,702 comment(s). Last comment by hw0706 3 days ago

pathew

2,028 posts

Posted by pathew > 2012-10-29 14:50 | Report Abuse

kc, sold to buy more scomi?

KC Loh

13,701 posts

Posted by KC Loh > 2012-10-29 14:51 | Report Abuse

because its construction stocks.....

Mat Cendana

2,340 posts

Posted by Mat Cendana > 2012-11-29 11:30 | Report Abuse

Increased revenue in the last quarter from RM1,097 mil in Q2'12 to RM1,141 mil Q2`13. Pre-tax profit from RM161 mil to RM233 mil; EPS 5.45 sen to 9.93. All are pretty decent. But the deal with Scomi seems to be preventing IJM's price from going up. Will have to wait for new developments on this to help serve as impetus for an upswing. Until then, it will probably hover around the current level and not go anywhere.

KC Loh

13,701 posts

Posted by KC Loh > 2012-11-29 11:38 | Report Abuse

previously 4.9x -ish range. with this later quarter, should propel it back to 5 - 5.10 range i believe!

only thing to watch out is their spending on the West Coast Expressway project coming up soon!

http://biz.thestar.com.my/news/story.asp?file=/2012/8/29/business/11930385&sec=business

anyway, i am out of IJM already. sold when it reached RM5 range and bough back Digi when market was fearful!

KC Loh

13,701 posts

Posted by KC Loh > 2013-01-07 14:03 | Report Abuse

“The biggest winner from this development will be IJM Corp Bhd. This is because it holds a 20% stake in WCE and also a 25% stake in Kumpulan Europlus Bhd (KEuro),” he said.

Source: http://biz.thestar.com.my/news/story.asp?file=/2013/1/7/business/12538607&sec=business

will be glad to have them onboard Scomi Group soon! :)

necro

4,726 posts

Posted by necro > 2013-01-10 01:18 | Report Abuse

Alert me when there on the Coke table...

nugget

16 posts

Posted by nugget > 2013-04-15 11:46 | Report Abuse

I heard that IJM's bid for a RM1 bil marine project in Pahang is unsuccessful. Anyone can clarify?

tonylim

4,796 posts

Posted by tonylim > 2013-06-04 16:30 | Report Abuse

lwalk

1,144 posts

Posted by lwalk > 2013-06-04 16:48 | Report Abuse

im looking forward to the 9 sen dividend

angkor

451 posts

Posted by angkor > 2013-07-23 10:03 | Report Abuse

this is coming after lagging for so long...

KC Loh

13,701 posts

Posted by KC Loh > 2013-08-20 11:29 | Report Abuse

RM7+ company!

meegoreng

70 posts

Posted by meegoreng > 2013-08-20 12:49 | Report Abuse

Hi KC, no more fully valued? Any change in its fundamental since Jun 18th?

meegoreng

70 posts

Posted by meegoreng > 2013-08-22 11:02 | Report Abuse

Lelong now...

hw0706

834 posts

Posted by hw0706 > 2013-09-11 21:31 | Report Abuse

IJM's tender book mix is exposed to minimal risk of project sequencing. The WCE job packages should be rolled out after the financial closure in Oct, while contract flows are backed by upcoming in-house works.There is valuation upside from the listing of its concession assets.

Accumulate. IJM remains a blue chip laggard and is likely to dish out positive news in the coming months.

Management was quoted in a recent press article as saying that its stock is undervalued. Its plan to list its key concession assets (mainly highways) is still on the cards. We continue to view this positively but think that its execution is not likely to be in the near term. As an infrastructure conglomerate, IJM owns the largest number of highway concession assets in the country. The total DCF value of IJM's highway concession assets, including the WCE, is RM3.9bn, based on our estimates (refer to Figure 3). The highways constitute 67% of the group's total concession asset value and 37% of RNAV.

Maintain Outperform. The stock is a laggard and appeals to investors scouting for beneficiaries beyond MRT.

hw0706

834 posts

Posted by hw0706 > 2013-09-11 21:33 | Report Abuse

IJM Corp (BUY )
Kuantan expansion becomes a reality
 Following the MOU entered between IJM and Guangxi Beibu Gulf International
Port Group Co. Ltd. (Guangxi) earlier this year, the 40% stake acquisition of
Kuantan Port by the latter has been formalised for RM334.4m. Once all the
relevant approvals have been obtained, the deal is expected to be concluded
by 3QCY14.
 Higher offer… The finalised offer for Kuantan Port’s 40% stake by Guangxi is
7.9% higher than the previous offer of RM310m. Nonetheless, we believe that
the higher revised offer is still cheap as it translates to a P/E of 10.5x (based on
Kuantan Port’s FY13 PAT of RM79.8m). However, we believe that the potential
benefits from this partnership will be rewarding.
 Construction opportunities… The first benefit will be the potential
construction projects for the expansion of Kuantan Port worth RM1.5bn-RM2bn.
It will be a timely boost for its external outstanding order book which is slowly
dwindling. As of 1QFY14, its external order book stood at RM1.7bn, translating
to 0.86x FY13’s construction revenue. We expect orders from Kuantan Port to
materialise by 1HCY14.
 Lower profits for time extension… Despite lower contribution from Kuantan
Port going forward, the tenure of the concession which was supposed to end in
2027 will now be extended by another 60 years to at least 2072. Hence,
potentially boosting IJM’s overall valuation.
 Maintain BUY with TP of RM6.32 based on SOP valuation.