10:22 pm29 Jul 2009
IJM Plantations - Expecting lower 1QFY10 results
1QFY10 results likely to be lower qoq and yoy, due to lower CPO ASP. Sell into strength; expect the share price to retreat due to weakness in CPO prices. Maintain SELL, fair price of RM2.55 based on 15x FY10 PE.Substantially lower yoy. Yoy, 1QFY09 net profit contraction can be as high as -60% due to : a)...