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    IJM   MYL3336OO004

IJM CORPORATION BERHAD

(IJM)
  Report
End-of-day quote. End-of-day quote BURSA MALAYSIA - 07/30
1.85 MYR   +1.09%
07/28IJM Corporation Divests Palm Oil Plantation Business
MT
06/29IJM CORPORATION : Ex-dividend day for interim dividend
FA
06/11Malaysia's IJM Corp accepts KLK's offer for plantation biz
RE
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Malaysia's IJM Corp accepts KLK's offer for plantation biz

06/11/2021 | 06:44am EDT

KUALA LUMPUR, June 11 (Reuters) - Malaysian construction group IJM Corporation Bhd has accepted Kuala Lumpur Kepong Bhd's (KLK) 1.53 billion ringgit ($372.63 million) cash offer for its entire stake in its palm oil plantation business, a stock exchange filing on Friday showed.

Plantation giant KLK proposed acquiring IJM Corp's 56.2% stake in IJM Plantations Bhd in a letter on Wednesday.

IJM Corp said it has decided to enter into a definitive share sale and purchase agreement with KLK.

It said the disposal enables it to immediately realise the value of its investment, considering the illiquidity of IJM Plantations shares.

It said it expects to record a pro forma gain of approximately 699.89 million ringgit.

The disposal is in line with its strategic objective of streamlining its businesses to focus on construction, property development, infrastructure concessions as well as manufacturing of building materials, it said.

"The recent strong (crude palm oil) price environment and good showing by plantation companies have presented an opportune window of divestment," it said.

Palm oil prices have been rising steadily over the past year and hit a record high last month.

Upon execution of the agreement, KLK is obliged to extend a mandatory general offer to acquire the remaining IJM Plantations shares it does not already own.

($1 = 4.1060 ringgit) (Reporting by Liz Lee; editing by Jason Neely)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CRUDE PALM OIL 0.00% 969.5 End-of-day quote.14.36%
IJM CORPORATION BERHAD 1.09% 1.85 End-of-day quote.6.94%
IJM PLANTATIONS BERHAD 1.33% 3.05 End-of-day quote.67.58%
KUALA LUMPUR KEPONG BERHAD -3.84% 18.52 End-of-day quote.-21.79%
LONDON BRENT OIL -0.82% 75.16 Delayed Quote.44.56%
WTI 0.53% 73.659 Delayed Quote.50.25%
All news about IJM CORPORATION BERHAD
07/28IJM Corporation Divests Palm Oil Plantation Business
MT
06/29IJM CORPORATION : Ex-dividend day for interim dividend
FA
06/11Malaysia's IJM Corp accepts KLK's offer for plantation biz
RE
06/10Kuala Lumpur Kepong Offers to Buy IJM Corp.'s Entire Majority Stake in Planta..
MT
06/09Malaysia's KLK offers $372 million for majority stake in IJM Plantations
RE
06/09Malaysia's KLK offers $372 mln for majority stake in IJM Plantations
RE
06/09Shares in malaysia's ijm corporation rise 7.4% in early trade after receiving..
RE
06/09Shares in malaysia's ijm plantations rise 22% in early trade after largest sh..
RE
06/09Malaysia's KLK offers $372 mln for majority stake in IJM Plantations
RE
06/09Kuala Lumpur Kepong Berhad proposed to acquire 56.2% stake in IJM Plantations..
CI
More news
Financials
Sales 2022 6 002 M 1 423 M 1 423 M
Net income 2022 369 M 87,5 M 87,5 M
Net Debt 2022 4 537 M 1 076 M 1 076 M
P/E ratio 2022 18,0x
Yield 2022 2,41%
Capitalization 6 655 M 1 575 M 1 578 M
EV / Sales 2022 1,86x
EV / Sales 2023 1,75x
Nbr of Employees 3 303
Free-Float 56,1%
Chart IJM CORPORATION BERHAD
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IJM Corporation Berhad Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends IJM CORPORATION BERHAD
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 1,85 MYR
Average target price 1,99 MYR
Spread / Average Target 7,81%
EPS Revisions
Managers and Directors
Liew Hau Seng Chief Executive Officer & Managing Director
Sin Kiat Chong Chief Financial Officer, Head-Accounts & Finance
Boon Seng Tan Chairman
Yin Tzuen Chee Head-Information Systems
Chun Fai Lee Director, Deputy CEO, Deputy MD & Head-Investment
Sector and Competitors