[%XxIb%] 
Research by Maybank
BUY – TP RM 3.70

"ESG 2.0: Progress in data collection & reporting”

We review IJM’s ESG matters post the release of its FY24 Annual & Corporate Governance Reports. Our ESG score for IJM is updated to 68 (out of 100) vs. 63 in our last review, above average. Positively, we see progress in data collection, advancement in governance structure, and detailed net zero commitments under its new Climate Strategy – R2O – introduced in Apr 2023. We maintain a BUY on IJM with a RNAV-based TP of MYR3.70

Analyst:  
Wong Chew Hann
[%SjRv%]

$KLSE-IJM 
Research by Maybank
BUY – TP RM 3.70

"ESG 2.0: Progress in data collection & reporting”

We review IJM’s ESG matters post the release of its FY24 Annual & Corporate Governance Reports. Our ESG score for IJM is updated to 68 (out of 100) vs. 63 in our last review, above average. Positively, we see progress in data collection, advancement in governance structure, and detailed net zero commitments under its new Climate Strategy – R2O – introduced in Apr 2023. We maintain a BUY on IJM with a RNAV-based TP of MYR3.70

Analyst:  
Wong Chew Hann
wchewh@maybank-ib.com