IJM Corporation Berhad

Date announced 23/11/2010
Quarter 30/09/2010 Qtr 2 FYE 31/03/2011

STOCK  IJM  C0DE  3336 

Price $ 5.69 Curr. ttm-PE 18.77 Curr. DY 1.93%
LFY Div 11.00 DPO ratio 44%
ROE 8.0% PBT Margin 25.3% PAT Margin 15.2%

Rec. qRev 785504 q-q % chg -20% y-y% chq -25%
Rec qPbt 198363 q-q % chg 11% y-y% chq 52%
Rec. qEps 8.86 q-q % chg 31% y-y% chq 74%
ttm-Eps 30.32 q-q % chg 14% y-y% chq 58%

Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 18.00 Avg. L PE 14.00
Forecast High Pr 6.97 Forecast Low Pr 4.43 Recent Severe Low Pr 4.43
Current price is at Middle 1/3 of valuation zone.

RISK: Upside 50% Downside 50%
One Year Appreciation Potential 4% Avg. yield 3%
Avg. Total Annual Potential Return (over next 5 years) 7%

CPE/SPE 1.17 P/NTA 1.51 NTA 3.78 SPE 16.00 Rational Pr 4.85



Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.

Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr


Stock Data: Recent Stock Performance:
Current Price (11/19/2010): 5.69
(Figures in Malaysian Ringgits)
1 Week 3.5% 13 Weeks 3.8%
4 Weeks 13.6% 52 Weeks 22.6%

IJM Corporation Berhad Key Data:
Ticker: IJMS Country: MALAYSIA
Exchanges: KUL SIN Major Industry: Construction
Sub Industry: Miscellaneous Construction

2010 Sales 4,013,530,000
(Year Ending Jan 2011).
Employees: 4,320
Currency: Malaysian Ringgits Market Cap: 7,687,203,753
Fiscal Yr Ends: March Shares Outstanding: 1,351,002,417
Share Type: Ordinary Closely Held Shares: 413,013,832


Day's Range: 5.64 - 5.64
52wk Range: 4.28 - 5.72
Volume: 0
Avg Vol (3m): 4,512,800