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Company Update � IJM Corp (BUY, maintain)
- Bonus bonanza We expect IJM to reward shareholders with a special dividend in 4QFY16 as it reaps exceptional gains from the sale of its Indian highway concessions. We raise our net profit forecasts by 19-31% for FY16-17 to reflect the estimated exceptional gains. We also lift our FY15 net DPS forecast by 25% to 12.5 sen, implying an attractive net yield of 4.2%. Maintain our BUY call with a reduced RNAV-based target price of RM3.76 to reflect the 1-for-1 bonus issue.
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Other Calls
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For
important disclosures, please refer to the Disclosure section at the end of
the individual linked research reports. |
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