Good rating for IJM sukuk with market position solid, earnings visibility encouraging

PETALING JAYA: RAM Ratings has assigned an AA3/stable rating to IJM Corp Bhd’s proposed sukuk of up to RM3bil, anchored by its diverse and strong market positions of the group’s core businesses and healthy financial profile.

“The diversity of IJM’s core businesses and their tangible market positions have allowed it to emerge relatively unscathed from market downturns. In fact, the group’s profit margins have been improving in the last few years,” said RAM.