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Research by TA
Buy – TP RM3.02

"FY24 Wraps Up Softer-than-Expected”

We maintain our Buy recommendation on IOIPG with a revised target price of RM3.02/share (previously RM3.10/share). Our valuation is based on P/Bk multiple of 0.65x against its CY25 BPS, slightly below the stock’s peak valuation of 0.71x since its listing in 2013 and a 3% ESG premium incorporated into our TP.

Analyst:
Thiam Chiann Wen 
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$KLSE-IOIPG
Research by TA
Buy – TP RM3.02

"FY24 Wraps Up Softer-than-Expected”

We maintain our Buy recommendation on IOIPG with a revised target price of RM3.02/share (previously RM3.10/share). Our valuation is based on P/Bk multiple of 0.65x against its CY25 BPS, slightly below the stock’s peak valuation of 0.71x since its listing in 2013 and a 3% ESG premium incorporated into our TP.

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

$IOIPG / 5249 (IOI PROPERTIES GROUP BERHAD)