[%grMR%]
Research by TA
Buy – TP RM1.33

"Dragged by Slow Property Development Segment”

 No change to our SOP-derived TP of RM1.33/share. We remain optimistic about Ibraco’s strong foothold in Sarawak, which continues to drive solid property sales and secure construction projects with above-average profit margins. Maintain Buy. 

Analyst:
Thiam Chiann Wen 
[%QDVa%]

$KLSE-IBRACO
Research by TA
Buy – TP RM1.33

"Dragged by Slow Property Development Segment”

 No change to our SOP-derived TP of RM1.33/share. We remain optimistic about Ibraco’s strong foothold in Sarawak, which continues to drive solid property sales and secure construction projects with above-average profit margins. Maintain Buy. 

Analyst:
Thiam Chiann Wen 
cwthiam@ta.com.my