Highlights
KLSE: IJM (3336)       IJM CORP BHD MAIN : Construction
Last Price Today's Change   Day's Range   Trading Volume
1.83   0.00 (0.00%)  1.83 - 1.84  2,365,600
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Overview

Market Cap: 6,671 Million
NOSH: 3,645 Million
Avg Volume (4 weeks):3,436,378
4 Weeks Range:1.70 - 1.85
4 Weeks Price Volatility (%):
86.67%
52 Weeks Range:1.20 - 2.06
52 Weeks Price Volatility (%):
73.26%
Average Price Target: 1.83
Price Target Upside/Downside: 0.00

Financial Highlight

Latest Quarter | Ann. Date 31-Mar-2021 [#4]  |  27-May-2021
Next QR | Est. Ann. Date: 30-Jun-2021  |  26-Aug-2021
T4Q P/E | EY: 15.45  |  6.47%
T4Q DY | Payout %: 3.26%  |  50.41%
T4Q NAPS | P/NAPS: 2.7448  |  0.67
T4Q NP Margin | ROE: 11.47%  |  4.31%

Headlines

Date Subject
13-Jul-2021 How does MCO affect steel industry? Koon Yew Yin
16-Jun-2021 Traders Brief - Sideways Pending Council of Rulers Meeting (16 June) and FOMC Outcome (17 June)
14-Jun-2021 Traders Brief - FMCO extension to undermine sentiment
14-Jun-2021 PublicInvest Research Headlines - 14 Jun 2021
14-Jun-2021 Mplus Market Pulse - 14 Jun 2021
12-Jun-2021 IJM Corp accepts KLK's offer for its plantation - Koon Yew Yin
11-Jun-2021 IJM反弹迈向RM2.06/敏源
10-Jun-2021 IJM CORPORATION BERHAD - Divesting Plantation Arm
10-Jun-2021 Mplus Market Pulse - 10 Jun 2021
10-Jun-2021 IJM Corporation - A Good Deal
10-Jun-2021 IJM Corporation - Possible Special Dividend From Sale of IJMP
09-Jun-2021 Mplus Market Pulse - 9 Jun 2021
28-May-2021 IJM Corporation - Ending on a High
30-Apr-2021 【行家论股/视频】IJM 棕油港口业保持韧力
30-Apr-2021 Mplus Market Pulse - 30 Apr 2021
30-Apr-2021 PublicInvest Research Headlines - 30 Apr 2021
30-Apr-2021 IJM Corp - Bag RM328mil new jobs in KL and Penang
30-Apr-2021 IJM Corporation - Replenishing Orderbook
27-Apr-2021 PublicInvest Research Headlines - 27 Apr 2021
27-Apr-2021 Mplus Market Pulse - 27 Apr 2021

Business 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.
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  rinee likes this.
 
klee Now nta of ijm comes closer to rm3 per share.Many syndicates are eyeing a controlling stake.If bod cannot boost stock price,watch out.
12/06/2021 2:26 PM
Sky Liew Inside already got say 800m for special dividend and share buy back use
12/06/2021 6:56 PM
BilisMrJ39 Stockraider obviously u don't read or don't know how to read the full announcement.

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=115607&name=EA_GA_ATTACHMENTS

Page 10 already mentioned 800m will be used as special dividend/share buyback.

800m/3,615m shares=22sen

I expect special dividend of 20sen as the company may reserve some portion for sharebuyback.
12/06/2021 7:44 PM
klee Hahahahaha stockraider.You raid what stock?
12/06/2021 8:51 PM
stockraider Good comment & question mah....!

The IJMPLANT DISPOSAL PROCEEDS of Rm 1.5b of that upto Rm 800m is allocated for capital management :

"To be utilised for the Group’s capital management initiatives including but not limited to a special cash dividend to IJM’s shareholders to reward the shareholders for their investment and continuous support to the Group. Subject to prevailing market conditions, the Company may also utilise the proceeds to undertake share buy-back activities at prices which the Company deems favourable"!

THUS Earmarked of Rm 800m for Capital management comprises of share buy back & dividend loh...!!

Lets do the maths loh..!!
IJM total number of shares is 3,633m units if we allocate max 10% for share buy back that is 363.3m units loh!

Assuming average share buy back price Rm 1.96 per share, we would need Rm 712m of this fund allocated mah...!!

Thus the remaining sum available for dividend is Rm 800m - Rm 712m = Rm 88m.

Based on 3633m shares out of Rm 88m special dividend per share is 2.5 sen per share mah!

Thats why raider earlier says;
" U should be happy if IJM give u extra 2 to 5 sen special dividend loh..no way 20 sen mah!"! Of course this worse scenario special dividend of 2.5 sen Mah!

On a more optimistic dividend could be higher as follows loh!:
"If we use payout ratio of 20% to 30%...that means available dividend is Rm 140m to Rm 210m....thus dividend is 3.8 sen to 5.5 sen loh!
The main reason why IJM dispose its plantation is to raise funds to paydown debts & reinvest in its business in order to generate higher return, if they distribute too much it will defeat their purpose mah!
Hence the additional special dividend will be modest level between 3 to 6 sen loh"!

Thats how Raider come up with special dividend upto 2.5 SEN TO 6 sen mah!

The main reasons why need so much monies of Rm 712m are earmarked for share buyback is to prepare possibility of takeover from other predative parties, trying to hostile takeover IJM, bcos it is still deemed as highly undervalue now mah!

Thus a bigger of share buy back fund are required to be allocated upto the max entitlement to ensure IJM is not too undervalue for the sharks to takeover mah!

LU TAU BOH ??


Posted by BilisMrJ39 > Jun 12, 2021 7:44 PM | Report Abuse

Stockraider obviously u don't read or don't know how to read the full announcement.

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id...

Page 10 already mentioned 800m will be used as special dividend/share buyback.

800m/3,615m shares=22sen

I expect special dividend of 20sen as the company may reserve some portion for sharebuyback.
12/06/2021 9:04 PM
klee 3 to 5 sen is deemed 'special' to stockraider only.Hahahahaha.
12/06/2021 9:19 PM
stockraider All back up by calculation...no tipu tipu mah!

Posted by klee > Jun 12, 2021 9:19 PM | Report Abuse

3 to 5 sen is deemed 'special' to stockraider only.Hahahahaha.
12/06/2021 9:24 PM
Johnzhang @Stockraider, I am afraid that your maths is merely based on your own assumption that the company is going to buy back 10% of its own share amounting 363.3 mil unit. May we ask on whatn basis is your assumption made?
Assuming your assumption is true such massive buyback will cause share price to shot up $0.50 to $0.80 which is actually not a bad thing for shareholders.
Secondly, as there is no controlling shareholders in IJM (the shareholdings are quite fragmented in the hands of many funds and institutional investors). who's iinterest is the BoD or Management protecting from any hostile takeover ? All the shareholders welcome any takeovers offer at the right price . In the end of the days all the shareholders of IJM wants to receive good return either in dividend or capital gain. Without takeover offer and/or good dividend, you can be sure that the share price will forever be depressed / undervalued in a dying Malaysian stock market .
I think all shareholders know this .
12/06/2021 10:58 PM
klee No need layan this stockraider.His numbers were all plucked out of thin air.
12/06/2021 11:18 PM
klee Without 20 sen dividend payout,what is there in this deal for shareholders.Ijm bod can go eat bananas n sell this deal blocked.
12/06/2021 11:23 PM
klee Shareholders can gain thru capital gain too.But dividend is the most direct n immediate reward.
12/06/2021 11:25 PM
Johnzhang @klee, agreed. Good dividend is important. By paying good dividend, it will also spur the share price increase. It’s a double effect. On the matter of possible hostile takeover launch by any interest party , all the shareholders in IJM and especially the minorities like us stand to benefit from realization of fair value to our investment. Hostile takeover is only fear by controlling shareholder losing his control , but in the case of ijm there is no controlling shareholder.
13/06/2021 7:34 AM
klee Yes Johnzhang.If Bod wants too see the deal thru,they got to payout at least 20 sen dividend for most shareholder support.The maths is simple.Payout 700 mil n keep the 800 mil for company use.Bod benefits too from 20 sen payout.This is win win win.Shareholders win Bod wins Klk wins.
13/06/2021 8:30 AM
klee Bod are not made up of fools.They know what to do.
13/06/2021 8:32 AM
BilisMrJ39 Jz ignore this stockraider. Obviously his assumption are all without basis and from his comment we can also know that he nvr buy IJM stock before but just try to get attention here
13/06/2021 11:46 AM
stockraider Lets be objective loh...!

The whole disposal of IJM plant, the parent IJM makes Rm 700m or about 20 sen per share mah!

If u read the edge today, IJM feared maybe, a hostile take over possibility from sunway, bcos it is very undervalue, thus to pre empt this risk IJM need to monetise its assets & do bigger buy back loh!

Now u look at IJM dividend track record for the past years, it always not that high ranging from 2 sen to 7 sen per share every year mah!

Now u take some people say must give special dividend of 20 sen or the entire profit of Rm 700m of IJMPlant Disposal, do u think it is practical leh ?.

U see they need to sustained IJM to avoid undervaluation & to prevent a takeover, if u propose 20 sen dividend....then what leh ?
Dividend X already IJM share price still adjusted back to low & still very undervalue mah!

The best strategy is to pays a steady increasing dividend based steady increasing profit mah!
To do that IJM need to use the twin strategy of allocating resources to grow its business & do bigger share buy back to prevent the share price too low value undervalue mah!

Now coming back to IJM dividend, it has already announce an interim dividend of 4 sen and from things going maybe another 4 sen final dividend in year end mah..!!
Thus if u throw in interim dividend 4 sen, final div 4 sen and special dividend 6 sen...does that look attractive at overall 14 sen leh ??

FYI total dividend of 8 sen from normal operations is already a record for the year for IJM mah! Now there is still another special dividend 6 sen mah!

In addition IJM still had retained sufficient cash for sustained higher dividend in the future mah!

These are sound strategy capital management mah!

Lu Tau Boh ?
13/06/2021 12:10 PM
klee Raider of stock.No need talk so much.Without 20 sen divvy,deal will be off.LU TAU BOH?
13/06/2021 1:25 PM
klee First n foremost.Get the deal done.No special divvy no deal.Bod can go fly kite.LU TAU BOH?
13/06/2021 1:27 PM
klee Btw,hostile takeover is BEST!Bod lose only.All other shareholders win.Hahahahaha.
13/06/2021 1:29 PM
Johnzhang I love to see hostile takeovers . The more hostile the better. Hahaha
13/06/2021 1:45 PM
stockraider Take note lah!

IJM already allocated Rm 800m to capital management for share buy back & dividend mah, how much for special dividend & how much for special dividend it will be decided later mah ?!

The directors & managements wants some flexibility over this matter mah!

Raider think it is likely the maximum 6 sen or Rm 218m allocated for special dividend & another 4 sen or Rm 145m will be allocated for final dividend mah!

The disposal of Ijmplant will likely to be a done deal mah!

Posted by klee > Jun 13, 2021 1:25 PM | Report Abuse

Raider of stock.No need talk so much.Without 20 sen divvy,deal will be off.LU TAU BOH?


Posted by klee > Jun 13, 2021 1:27 PM | Report Abuse

First n foremost.Get the deal done.No special divvy no deal.Bod can go fly kite.LU TAU BOH?


Posted by klee > Jun 13, 2021 1:29 PM | Report Abuse

Btw,hostile takeover is BEST!Bod lose only.All other shareholders win.Hahahahaha.
13/06/2021 4:43 PM
klee Raider.Guess you are not that old bird after all.What you,john n me thinks does not matter a bit.Hahahahaha.
13/06/2021 6:50 PM
SmallSexyPig > Rm 800m to capital management for share buy back

good for us that already hold, less open market supply of shares means each individual share is worth more.
15/06/2021 11:26 AM
Runnerup Can I know IJM still have dividen?
15/06/2021 11:52 AM
15/06/2021 12:08 PM
SmallSexyPig @Runnerup Dividend has been given last 12 FYs in a row. Normally twice yearly. They've given dividends in the last 19 out of 21 FY (Financial Years)
15/06/2021 7:47 PM
kancs9128 Why are the funds disposing IJM shares especially in the light of such good news?
16/06/2021 8:05 AM
maxx papa Bro, this is just a proposal, not approve by AGM yet.
As I know, the proposed price by KLK is lower than the actual value, so the chances to pass are just 50% - 50% (or lower).

If the proposal is accepted, the price will shoot up + special dividend
If the proposal is rejected, I guess the price will drop (we all know what is IJM fair value right?)

Happy trading ya!
16/06/2021 10:37 AM
kancs9128 Bro - how come you said the proposed price by KLK is lower than the actual value?

I read in the disclosure at Bursa that the book value of the shares for IJMPlantation (cost of investment) is at 0.8M and the disposal is at 1.5B. This resulted in a gain of $0.7M.

About the KLK shareholders, this is an owner controlled company. Their shareholdings is not as fragmented as IJM. It seems funny if KLK would propose and then, retract.

The risk is probably not passing through the AGM at IJM. But this is a good deal. Why reject?

Anyway - the share price dropping represents a good chance to enter. But i wonder if it can drop below RM1.70?
16/06/2021 12:21 PM
florenceyong Hoot!
16/06/2021 2:43 PM
Runnerup Haai.... Share buy back ... So steady like that lol
16/06/2021 4:03 PM
kancs9128 come on...drop for mummy - drop until RM1.70....the cheaper - the better
EPF Umrah throw more into the market - drive down the price
16/06/2021 4:51 PM
Dakewlest Epf Umrah? What do u mean?
16/06/2021 10:18 PM
kancs9128 seems to be stabilising at RM1.90
17/06/2021 10:45 AM
Nadayu bosss buying
20/06/2021 12:43 AM
Dakewlest When they want to announce special dividend?
23/06/2021 12:20 AM
BilisMrJ39 Probably within 1-2 quarter. Buy when its cheap and hold
23/06/2021 2:19 PM
Runnerup The cheapest 1.2 .... I wait for you.....
24/06/2021 11:14 AM
kancs9128 me not so greedy
RM1.70 baby...
25/06/2021 10:32 AM
kancs9128 mark my phariah words...big sales is coming;
- govt is allowing another round of EPF withdrawals to cushion for the impact of this indefinite lockdown...EPF is motivated to sell to have liquidity to enable withdrawals...when EPF throws, we buy....
- furthermore, next Qtr result is going to be so - so due to the prolonged lockdown, all putting a downward pressure on the share price.

remember the mantra (only applicable for this counter) - when they bash down this counter, we kutip at the side
28/06/2021 12:55 PM
bobthevalueman Is it true, they will stop construction from operating for 1 month? curb cases.
30/06/2021 10:07 AM
DatoShare Stay away from govt linked counters like construction for a while. I don't think they will move quickly anytime soon
03/07/2021 12:33 PM
bobthevalueman https://www.malaymail.com/news/malaysia/2021/07/03/works-minister-all-construction-in-emco-zones-must-stop-miti-letters-no-lon/1986886

KUALA LUMPUR, July 3 — Only approved critical maintenance and repair works may take place in areas under an enhanced movement control order (EMCO), Works Minister Datuk Seri Fadillah Yusuf said today.


The minister said all other construction activities must be halted to comply with the National Security Council’s directives.

“This means the Miti permission letters previously received may no longer be used to continue construction works during the EMCO period,” he said in a statement, referring to the Ministry of International Trade and Industry.
03/07/2021 5:31 PM
peterlengzai https://www.bursamalaysia.com/market_information/announcements/company...

Krishnan buying more, is something brewing?
13/07/2021 3:17 PM
peterlengzai https://klse.i3investor.com/insider/director/3336/12-Jul-2021/159011_955583279.jsp

is TS Krishnan giving signal that a potential merger coming soon???
13/07/2021 3:18 PM
milosh good swing trade opportunity
14/07/2021 10:28 AM
Dakewlest We want special dividend. Hopefully more than 10 sen per share.
21/07/2021 12:06 AM
tamp0i How come IJM everyday buy back shares but prices won't move one ah? Lmao...
28/07/2021 1:28 AM
stockraider Privatization coming mah!
28/07/2021 7:50 AM
Bgt 9963 Good morning.!
28/07/2021 8:51 AM


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