IJM earnings risks kept on concession revamp

PETALING JAYA: IJM Corp Bhd’s earnings risks remain, given the recent restructuring in its toll highway concessions and lagging in new contract wins, says Affin Hwang Investment Bank.

According to the research house, there were no details on the concession restructuring when the caretaker government announced a reduction in toll rates for IJM’s wholly-owned Sungai Besi Highway (Besraya) and 50%-owned Kajang Seremban Highway (Lekas) effective Jan 1, 2023.