Hot stock IJM Land rises 6.6% on projects, positive recommendations

Business & Markets 2013
Written by Zatil Husna of theedgemalaysia.com
Monday, 27 May 2013 16:50
A + / A - / Reset

KUALA LUMPUR (May 27): IJM Land Bhd rose 6.6% among top
gainers. Analysts said the property developer's projects are doing well.
The firm is also expected to be a notable performer in the second half
of this year, they said. At 4:05pm today, IJM Land was traded at
RM3.25 with some 1.7 million units done.
The stock was the eighth-largest gainer across the exchange.
AmResearch Sdn Bhd analyst Mak Hoy Ken said : “IJM Land’s project
in Penang and its pre-sales are doing well. Another factor would be
because of the company’s larger market capitalisation,” he told
theedgemalaysia.com
Mak said IJM Land is in foreign investors' radar. “These foreign funds
are in for the PROPERTIES [] that the company is currently
developing,” he said.
Earlier, JP Morgan, in its post-election Malaysia strategy report, had
recommended investors to “keep buying” nine
local stocks which include IJM Land for exposure to domestic demand
and growth.
The other stocks are AMMB, Axiata, Berjaya Sports Toto, CIMB,
Dialog, Gamuda, KLCC and Media Prima.