$IOIPG / 5249 (IOI PROPERTIES GROUP BERHAD)
Research by MIDF
NEUTRAL – TP RM2.04

"Keeping abreast of market demand”

• FY24 earnings below expectations
• Weaker earnings in FY24
• FY24 new sales at RM2.14b
• Shenton 101 proposal not accepted
• Earnings forecast revised downwards
• Maintain NEUTRAL with a revised TP of RM2.04

Analyst:
Jessica Low Jze Tieng
jessica.low@midf.com.my