IJM Land

IJM Land

Postby winston » Sat Jun 07, 2014 6:55 am

not vested

AmResearch maintains Buy on IJM Land

PETALING JAYA: AmResearch is maintaining a Buy call on IJM Land with an unchanged fair value of RM3.90 per share, a 10% discount to the its net asset value per share.

The research house said IJM Land’s exposure to the property sector, backed by RM3bil’s worth of new launches for the financial year ending March 31, 2015.

“The stock’s sentiment has been further lifted by recent reports of fresh privatisation manoeuvres,” it added.

IJM Land’s upcoming projects include the 23.5ha leasehold Pantai Sentral Park located in Bukit Kerinchi, a joint venture between the company and Amona Development with a gross development value of RM2.5bil to be realised over 10 to 15 years.

The company’s launch of the third phase of Bandar Rimbayu was met with “overwhelming responses” with 40% of the first block of cluster semi-detached homes having been taken up.

Source: The Star
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Re: IJM Land

Postby winston » Mon Oct 20, 2014 6:25 pm

AmResearch maintains Buy on IJM Land
Monday, 20 October 2014

KUALA LUMPUR: AmResearch has maintained its Buy call on IJM Land, pegged to the offer price of RM3.55 a share under parent IJM Corp’s privatisation proposal.

"We visited IJM’s Bandar Rimbayu office recently to get an update of the project’s latest launch, Scarlet, and were impressed," it said in a note on Monday.

As an alternative, investors seeking leverage to IJM Land can buy directly into IJM Corp, it said.

"The elimination of IJM Land’s minority interest may lead to an upward re-pricing of price per earnings under an enlarged IJM Corp with improved trading liquidity.

"By extension, this may provide a 4% upside to IJM Corp’s fair value. More is to come, as we have yet to factor in potential contributions from Kuantan Port expansion and the newly-acquired industrial land nearby, balance of works under West Coast Expressway and Silk highway," it said.

Source: The Star
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