Stock Name: IJM
Company Name: IJM CORPORATION BHD
Research House: MAYBANK
KUALA LUMPUR: IJM CORPORATION BHD [] shares advanced in early trade on Monday, April after its unit New Pantai Expressway Sdn Bhd (NPE) received the go-ahead from the Public Private Partnership Unit of the Prime Minister's Department for the proposed New Pantai elevated highway extension to Ampang-Kuala Lumpur.
At 9.45am, IJM Corp was up 10 sen to RM6.45.
Maybank Investment Bank Bhd Research has maintained its Hold recommendation on IJM Corp at RM6.35 with unchanged target price of RM6.50.
It said the two toll concessions, given the go-ahead by the government last Friday, should positively boost IJM Corp's CONSTRUCTION [] order book, which stands at approximately RM4.1 billion now.
'We estimate order book could easily double.
''The impact on valuations cannot however be assessed in the absence of further information,' it said in a note Monday, April 4.
Company Name: IJM CORPORATION BHD
Research House: MAYBANK
KUALA LUMPUR: IJM CORPORATION BHD [] shares advanced in early trade on Monday, April after its unit New Pantai Expressway Sdn Bhd (NPE) received the go-ahead from the Public Private Partnership Unit of the Prime Minister's Department for the proposed New Pantai elevated highway extension to Ampang-Kuala Lumpur.
At 9.45am, IJM Corp was up 10 sen to RM6.45.
Maybank Investment Bank Bhd Research has maintained its Hold recommendation on IJM Corp at RM6.35 with unchanged target price of RM6.50.
It said the two toll concessions, given the go-ahead by the government last Friday, should positively boost IJM Corp's CONSTRUCTION [] order book, which stands at approximately RM4.1 billion now.
'We estimate order book could easily double.
''The impact on valuations cannot however be assessed in the absence of further information,' it said in a note Monday, April 4.
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