OUM Human Recearch .docx

7/21/2019 OUM Human Recearch .docx

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BBPPW3103

Contents

TITLE: FINANCIAL RATIO ANALYSIS ON TWO COMPANIES.......................................0

2.1 IJM CORPORATION BACKGROUND.........................................................................3

2.2. IGB CORPORATION BACKGROUND........................................................................5

6.1.0 PROFITABILITY RATIO................................................................................................9

6.2.0 LIUIDITY!S RATIO................................................................................................11

6.2.1 N"# $%&'()* +,-(#,.....................................................................................................11

6.2.2 C/&&")# &,#(%.................................................................................................................13

6.2.3 UICK RATIO............................................................................................................15

6.3.0 A+#((#E(+(")+ R,#(%.............................................................................................16

6.4.0 LEERAGE GEARING RATIO..............................................................................19

6.5.0 MARKET ALUE...................................................................................................21

.0 T7" O"&("$ % C%8-,) P"&%&8,)+" /- #% ,#" 2013;..............................................23

<.0 CONCLUSION = RECOMMENDATION.......................................................................25

9.0 B(>(%*&,-7.......................................................................................................................26

APPENDI?ES.........................................................................................................................2



BBPPW3103

1.0 INTRODUCTION

T7" -/&-%@" % #7(@ &"-%&# (@ #% ()#"&-&"# #7" ,),#(+, ,),@(@ %) #7" (),)+(, &"-%&#@

%) #$% +%8-,)("@ %) #7" @,8" ()/@#& %& -"&%&8,)+" ",/,#(%). T7" ",/,#(%) +%)@(@#@

% #7" (),)+(, &"-%&#@ ()%&8,#(%) ,,(,>" &%8 >%#7 +%8-,)("@ ,@ , 8"(/8 #%

,++%8-(@7 #7" #"@# %) #7" (),)+(, -"&%&8,)+". M%&"%"& #% +%8-"#" #7" "#,(@ % #"@# %)

(),)+(, &,#(% ,),@(@ %) #$% +%8-,)("@ 7,@ >"") +,&&(" %/#. T7" +%8-,)("@ #7,# 7, >"")

+7%%@" ,&" IGB C%&-%&,#(%) ,) #7" IJM C%&-%&,#(%) $7(+7 (@ >%#7 () #7" -&%-"&# @"+#%&@

()/@#&. T% ,+7(""@ #7" ,++/&,#" 8",@/&"8")# #7" @,8" @(" % ()+%8" @#,#"8")# %) ("

",&@ (),)+(, &"-%&# 7,@ >"") /@" ,@% #% ,),@" #7" +%8-,)("@ #7,# 7, >"") @""+#" #7"

(),)+(, &,#(% ,),@(@ 7,@ >"") +,&&(" %/#.

T7" %"&, -"&%&8,)+" ,),@" %+/@" %) #7" (),)+(, ,+#((#("@ ,) #7" ,>((# %

",+7 +%8-,) #% @/@#,() %) #7" 8,&'"# +%8-"#" $(#7 #7"(& +%8-"#(#%& ,8%)* #7" ()/@#&.

P"&%&8,)+" ,@% "(+,#"@ #% -&%/+#((# (),)+()* @%/&+" ,) ,/" ," +&",#" > #7"@"

+%8-,)("@ /&()* %-"&,#()* ,+#((#("@ +%/ ()(&"+# >%%@# #7" +%8-,) &"")/". I) #"&8 %

@7,&"7%"& #7" +%8-,) -"&%&8,)+" +%/ >" ",/,#" > ,"/,#" -&%(# ,,(,>" %& (@#&(>/#" ,@ ((") -,%/#.

T7" &"@/# % ",+7 +%8-,) &,#(% 7,@ >"") +%8-,&"@ ,) ,),@"@ #% ')%$ $7(+7

+%8-,)("@ -"&%&8 >"##"&. T7" >&(" ,) +%)+(@" "-,),#(%) (@ >"") 8," #% /@#( ",+7

",/,#(%) ,@ #7" -&%% #7" ",/,#(%) (@ +%&&"+# ,) $" /*"8")# %) #7" &"@/# ",+7

(),)+(, &,#(% ,),@(@. F/&#7"& ()"@#(*,#(%) 7,@ >"") 8," %& ,(#(%), ,) @/--"8")#,&

-,&#@ ,@% ,(#(%), ()%&8,#(%) #% @/--%&# #7" "-,),#(%) %) #7" (),)+(, ,),@(@

-"&%&8,)+".

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BBPPW3103

2.1 IJM CORPORATION BACKGROUND

2.1.1 Histo!"

R"@/#" &%8 #7" 8"&*"& % #7&"" 8"(/8 @(" +%8-,)("@ %) %+, +%)@#&/+#(%)

+%8-,) #7" IJM C%&-%&,#(%) 7, >"") %&8". IJM C%&-%&,#(%) $,@ %(+(, "@#,>(@7 %)

19<3 %& +%8-"#" ,*,()@# >(**"& %&"(*) +%8-"#(#%& $(#7 8%&" ""+#(". T7" +%8-,)

8,),*" #% *,()" -"%-" #&/@# ,) @#,&#" #% >/( #7" &"-/#,#(%) %) #7" @7%&# -"&(% /" #%

#7"(& -&%"@@(%), 7,)()* +%)@#&/+#(%) *&%/-. T7"(& +,-,>((# (@ >"") ,$,&" $7") #7"

+%8-,) ,**&"@@(" ()+&",@"@ () 8,&'"# "8,)". I) ",& 2004 #7" "-,)" #7"

>/@()"@@ %) ()/@#&(, -&%/+"& > #,'"%"& #7" C%)+&"#" P&%/+# B"&7, ,) @/++"@@/

("&@((+,#(%) ()#% C7(), I)(, ,) P,'(@#,). O) A-&( 200 IJM -/&+7,@" R%, B/("&

G&%/- #7,# $,@ #7"(& +%@"@ +%8-"#(#%& ,# #7,# #(8" () %&"& #% @/@#,() #7"(& -%@(#(%) ,@ %)" %

#7" +%/)#& >(**"@# >/("&.

2.1.2 A#ti$ities"

IJM C%&-%&,#(%) (@ , -&%"@@(%), +%8-,) 8,),*" /)"& +%8-"#")+ +%&"

,+#((#("@ +%)@(@# % +%)@#&/+#(%) -&%-"&# ""%-8")# 8,)/,+#/&()* ,) /,&&()*

()&,@#&/+#/&" +%)+"@@(%)@ ,) -,)#,#(%). I# 7, >"") "@#,>(@7" ,) *&%$#7 %"& #7" -,@#

#7&"" "+," $(#7 %+/@()* %) #7" ,&(,#(%) ()#% #,+#(+, &",#" >/@()"@@"@ ,) ,@%

(@+"&)()* "),&*"8")# #%$,&@ &"@7 8,&'"#. M,() %(+"@ $"&" () S",)*%& $(#7 +%))"+#()*

#% %#7"&@ #") +%/)#&("@ ,8%)* #7" $%& $(#7 %+/@" %) M,,@(, C7(), A&,> ,)

In%onesi&. IJM's st&te% #% >"+%8" ""%-"& %) -&%-"&# ,#"& #7" @/++"@@/ "-"&(")+"

() #7" +%)@#&/+#(%) >/@()"@@. T7" -&%-"&# *&%/- #7") +%)#()/%/@ *&%$#7 "#")@(" %"&

#7" ",& /" #% #7,# #7" IJM C%&-%&,#(%) 7, >"+%8" %)" % #7" 8,%& -&%-"&# ""%-"& ()

M,,@(, ()+/()* @-&",()* +(#("@ -&%(#8,'()* >/(()* ,) ,@% @'@+&,-"& +%)%8()(/8.

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2.1.( M&)et sten*t+"

T7" &"@/# % 8"&*"& >"#$"") #7&"" 8"(/8 @(" % %+, +%)@#&/+#(%) %&8" ,

@#&%)* +%8-,) #7,# +%/ >" +%8-"#" $(#7 #7" >(**"& @(" +%8-,). T7" ""%-()* () ,

*&%$()* -&"@")+" ,) %-"&,#(%), () 8%&" #7,) 10 +%/)#&("@ $(#7 -&(8,&( %+/@" %)

M&,&!si& ens-e t+e #o/eten#ies' &n% #e&tes t+e ,,)#,*"@ ,8%)* #7"(& +%8-"#(#%&@.

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2.2. IGB CORPORATION BACKGROUND

2.2.1 Histo!"

T7" IGB C%&-%&,#(%) (@ 8,%& () -&%-"&# ()/@#&(, () M,,@(, ,) ,>&%,. A@ #7"

-(%)""& -&%-"&# ""%-"& #7(@ +%8-,) 7,@ @"# #7" ()/@#& @#,),& () -&%-"&# @"+#%&

$7"&" 8,) +%)#()/" %#7"&@ +%8-,) ,@% @#,&# #% %%$. T7" %+/@@" %) #7" &"@(")#(,

,) 7%@-(#,(# ""%-8")#. S#,&#" $(#7 #7" +%)@#&/+#(%) % #7" /"") (+#%&(, B/(()* %)

",&@ 19<4 19<6 > I-%7 L# T7" G,"&("@ (+#%&(, () 19<< T7" S#&,) ,) #7" M(

," M"*,8, %) ",& 1999. T7" ,#"@# +%)@#&/+#(%) -&%-"&# (@ T7" G,&")@ M,.

2.2.2 A#ti$ities"

IGB C%&-%&,#(%) (@ ",()* -&%-"&# ""%-8")# %) #7(@ +%/)#& ,) >"()* (@#" #%

#7" >/&@, @,7,8 8,() >%,& () M,,@(,. T7" ,&" 8,%& () +%)@#&/+#(%) -&%-"&#

""%-8")# &"#,( ""%-8")# ,) 7%@-(#,(# ,+#((#("@. T7" ,@% $"&" %+/@()* ()

("&@((+,#(%) % ,+#((#("@ /)"& +%)@#&/+#(%). A8%)* #7" ,+7(""8")# #7" &"+"(" (@ M(

," M"*,8, +ee t+e! ein* &&%e% 3o Best Ret&i, De$e,o/ent4 K-&,&

L-/- Cit! H&,,'s Best &n% +",)()* @7%--()* +")#&" 2001. T7"&"%&" #7" ,@% *%#

,$,& ,@ #7" R"#,( E+"")+" A$,& 2006200.

2.2.( M&)et sten*t+"

I) 2012 %& #7" #")@ +%)@"+/#(" ",&@ #7" IGB C%&-%&,#(%) $,@ ,8%)* T%- T")

P&%-"&# D""%-"&@ &"+"(". S()+" 1999 #7" "@#,>(@78")# % M( ," M"*,8, #7"

7, &"+"(" 1< ,$,&@ ,) ,++%,"@. T7" 7, #7" ()"@#8")# -%(+ #% >" #7" >"@# ,8%)*

#7" +%)@#&/+#(%) ""%-"& () #7" +%/)#& ,@% ()#"&),#(%),. T7" -&%(" #7" &"*/,& ,)

@#,>" (@#&(>/#(%)@ @/@#,(),>" %)* #"&8 $7(" 8,()#,()()* #7" ,--&%-&(,#" +,-(#, @#&/+#/&"

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5.0 AB6TRACT OF INCOME 6TATEMENT

IGB CORPORATION BERHAD

C%)@%(,#" F(),)+(, S#,#"8")# %& ",& ")" 2009 /)#( ",&@ 20122009 2010 2011 2012

RM'000 RM'000 RM'000 RM'000R!"# $42%442 &19%3$0 &&2%129 993%51()*+ ), ** -21%59 -259%9&9 -32$%99$ -3&2%534

G/)** /) + 3$0%53 459%31 445%133 $21%31&O+/ )/+" ")6 4&%030 33%5 121%94 39%0&5

A76"*+/+! 8"** -151%432 -1&9%54& -1&%55 -2$3%00$O+/ )/+" 8"** -1$%3&1 -23%953 -2%9&$ -3%&3&P/) + ,/)6 )/+)"* 240%00 29%&$$ 3&$%19$ 393%$49F"" )*+ 10%&$5 1&%15 22%0 31%&19

S/ ), /*#+* ),**)+* -5&%142 -53%&53 -55%91 -$9%5G" )" 7*)* ), "**)+ 2&%33 24%&51 15%13 10%41P/) + ,)/ +8 221%53$ 2&&%922 35&%504 3$$%19

T8 8"* -42%31$ -&&%9$$ -90%$55 -144%154E#+; )7/* ), +()6"; 15%9& 1&4%$1& 23&%$50 10%190M")/+; "+/*+* 20%242 25%339 29%199 41%54

P/)+ ,)/ + "";/ 1&9%220 199%95$ 2$$%49 222%044

IJM CORPORATION BERHAD

C%)@%(,#" I)+%8" S#,#"8")# %& ",& ")" 2009 /)#( ",&@ 2012

2009 2010 2011 2012

O/+" /!"# 4!01294 401330 3720717 4178!0

()*+ ), ** -3703848 -30!0100 -2729703 -3370011

G/)** /)+ 89744! 93430 991014 1147849

O+/ )/+" ")6 172! 208933 3224!9 2!8340T"7/"% *" "7 7*+/#+)"8"** -93413 -93927 -10!128 -129033

A76"*+/+! 8"** -14!98 -182!81 -227933 -2024!

O+/ )/+" 8"**: -111044 -13707 -142099 -112184O/+" <)**=>/)+ ,)/ "")*+ !9! 748!98 837323 97207

F"" )*+ -189090 -201421 -19498! -17287

O/+" <)**=>/)+ ,+/ "" )*+ 0!4!! 47277 !42337 799!32

S/ ), /)+* ), **)+* 1904! 19!7! 4!844 39799S/ ), /)+*><.)***= ), ?)"+.;)"+/)..7 "++* 318 11071 -2940 -37840

<L)**=>/)+ ,)/ +8+)" 28!70 78024 !9731 80191

I")6 +8 8"* -12!703 -148!0 -197194 -2110

I")6 ,/)6 )"+"#" )/+)"*,)/

E#+; )7/* ), + ()6"; 290212 33280 304491 40907!



$ | P "



7.0 6UMMARY COMPUTATION OF RATIO

IJM (ORPORATION

2009 2010 2011 2012

PROFITABILIT@ RATIO'S

+( ."$# 5 8,74 10,4 12,43 12,18

(6# +# "%%( ROA 5 3,435 3,375 3,!85 3,9!5

(6# +# E6$(* ROE 5 42,!75 31,885 34,235 39,845

R(6# +# "$(": .:+*; 5 ,8 ,! !,4 !,8

IUIDIT@

N( W+$# C"$(": RM 1 9!2 833 2 913 41 3 1!3 09 3 ! 7

6#( R"($+ T$.

%

1,9 2,09 2,18 2,21

=6$ R"($+ T$.

%1,47 1,89 1,9! 2,04

A(TIIT@>EFFI(IEN(@

A%%( T6#+ T$.

% 0,39 0,32 0,29 0,33

##(+* T6#+ T$.

% 10 7 !

A" C+::($+# P$+; ?"*% 1! 3 38 22

A" P"*.#( $+; ?"*%97 101 8! 10

EERAGE>GEARING

?@( "($+ 50,1 0,48 0,48 0,49

?@( (+ 6$(* "($+ T$.

% 2,8 2,49 2,44 2,82

$.% I#(%( E"#; TIE "($+ 3,8 3,87 4,38 ,!9

MARKET ALUE

"#$#% P S&" EPS %# 23,4! 22,!9 22,!3 29,84

$/E"#$#% "($+ %# 0,18 0,22 0,28 0,19



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8.0 An&,!sis on t+e &tio

8.1.0 PROFITABILITY RATIO

2009 2010 2011 2012

IJM IGB IJM IGB IJM IGB IJM IGB

-&%(# 8,&*() <.4 2.9 10.54 2.< 12.43 34.56 12.1< 22.34

&"#/&) %) ,@@"# ROA; 3.43 4.01 3.3 4.2 3.6< 4.99 3.96 3.12

R"#/&) %) E/(# ROE; 42.6 4<.1 31.<< 54 34.23 1.62 39.<4 60

R"#/&) %) +,-(#, 5.< 6.04 5.6 .2< 6.4 <.2 6.< .24"8-%"

P&%(# 8,&*() (@ ()(+,#"@ 7%$ 8/+7 #7" +%8-,) *")"&,#"@ -&%(# &%8 @,"@ #7"&"%&"

>"+%8()* 7(*7 -"&+")#,*" (@ >"##"&. T7(@ &,#(% ,%$@ #7" +%8-,)("@ #% "#"&8()" 7%$ $"

#7" ,&" %()* () #7" @"+#%& ,) 7%$ #7" +,) 8,),*" #% +%8-"#" $(+%8-"#(#%&@. B,@" %)

#7" #,>" ,>%" $" +,) @"" #7,# IGB 7,@ , >"##"& -&%(# 8,&*() +%8-,&" #% #7" IJM

C%&-%&,#(%). I# ()(+,#"@ #7,# #7" IGB C%&-%&,#(%) 7,@ , 7(*7 &"")/"@ *")"&,#"@ %) ",+7 @,"@

,) ,@% @7%$@ #7" #7" 7," ""+#(" () 8,),*()* +%@# ,) #/&)()* @,"@ ()#% -&%(#. IGB

C%&-%&,#(%) @#,#" #7" 7(*7"@# &,#(% %) ",& 2011 $7"&" (# @7%$@ 34.56 -"&+")# &%8 #7" @,"@.

%$""& #7" -&%(# 8,&*()@ -"&+")# (# 8%()* %$) >,+' %) ",& 2012 &%8 34.56 #% 22.34.

E") #7%/*7 #7" IGB C%&-%&,#(%) (@ &%--" , )/8>"& () -"&+")#,*" #7" @#( 8,),*" #% *"#

7(*7"& #7,) #7"(& +%8-"#(#%& IJM C%&-%&,#(%). A *%% -"&+")#,*" % -&%(# 8,&*()@ $( ,##&,+#

#7" ()"@#%&@ ,) @7,&"7%"&.

R"#/&) %) ,@@"#@ (@ ()(+,#%& 7%$ $" #7" +%8-,) 8,),*" #7"(& ,@@"#@ () *")"&,#()*

",&)()*. D/&()* ",& >"%&" 2009 #7" IJM C%&-%&,#(%) 7,@ , )"*,#(" -"&+")#,*" /" #% #7"8

8,'()* %@@"@ %) #7,# ",&. C%)@"/")+"@ &%8 #7,# $" +,) ')%$ #7,# #7" +%8-,) )%# $(@"

,) 8,),*" () ,%+,#()* #7" &"@%/&+"@. %$""& #7" IJM C%&-%&,#(%) (@ %/>()* #7" "%&#

%& @/@#,() >" ,>" *"# -&%(# %& %&$,& ",&. T7" IGB C%&-%&,#(%) @#&%)* @#, ,7", % #7"(&

+%8-"#(#%& /)#( ",& 2011 $7"&" #7" &"+%&" 7(*7 -"&+")#,*" % &"#/&) %) ,@@"#. %$""& ()

",& 2012 #7" IJM C%&-%&,#(%) @/++"@@/ " #7" +%8-"#(#(%) > 0.<4 -"&+")#. T7"&"%&" (#

()(+,#"@ #7" IJM C%&-%&,#(%) ,@% +,) +%8-"#" "") #7%/*7 7,@ , %$"& -"&+")#,*" ,@

>"*())()*.R"#/&) %) "/(# (@ &,#(% % )"# ()+%8" % >/@()"@@ #%$,&@ #7"(& @#%+'7%"&@ "/(#.9 | P "



R"#/&) %) +,-(#, "8-%" ROCE; /@/, /@" %& +%8-,&()* #7" -"&%&8,)+" %

+%8-,)("@ () +,-(#, ""&,*" %) #7" >/@()"@@. T7(@ &,#(% ()(+,#"@ %) (),)+(, -"&%&8,)+" %

#7" +%8-,)("@ () , >"##"& $, $(#7 , @(*)((+,)# ">#. T7" IGB C%&-%&,#(%) 7,@ , >"##"&

-"&+")#,*" %) +,-(#, "8-%" +%8-,&" #% #7" IJM C%&-%&,#(%). O) ",& 2011 #7" IGB

C%&-%&,#(%) @#,#"@ #7" 7(*7 -"&+")#,*" #7,# (@ <.2-"&+")# +%8-,&" #% #7" IJM C%&-%&,#(%) #7,#

%) 7, 6.4 -"&+")#. T7(@ @7%$@ #7" IGB C%&-%&,#(%) 7,@ , >"##"& %> % "-%()* (#@ +,-(#,#7,) IJM C%&-%&,#(%). T7(@ @7%$@ #7" IGB C%&-%&,#(%) 7,@ @/-"&(%& &,#7"& #7,) IJM

C%&-%&,#(%). T7(@ ()(+,#"@ IGB 7,@ , >"##"& (),)+(, -"&%&8,)+" %& +%8-,)("@ $(#7

@(*)((+,)# ">#. I) *")"&, #7" ROCE #&") %"& #7" ",&@ (@ (8-%&#,)# ()(+,#%& %"& #7"

",& >"+,/@" #7" ()"@#%&@ ,&" ('" #% ,%/& +%8-,) $(#7 @#,>" ,) &(@()* ROCE.

Graphical representation :

P/)++; R+)

80

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40

30

20

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2008 2009 2010 2011 2012

+( ."$# 5 -!,47 2,12 8,74 27,9 10,4 27,8 12,43 34,! 12,18 22,34

(6# +# "%%( ROA 5 -2,!9 3,88 3,43 4,01 3,37 4,27 3,!8 4,99 3,9! 3,12

R(6# +# E6$(* ROE5 34,93 4!,4 42,!7 48,1 31,88 4 34,23 71,!239,84 !0

R(6# +# "$(":.:+*; 5 -0,0 3, ,8 !,04 ,! 7,28 !,4 8,72 !,8 7,24



8.2.0 LI9UIDITY'6 RATIO

8.2.1 Net o)in* #&/it&,

IGB CORPORATION YEAR'6 2009 2010 2011 2012

C-ent &sset RM'000 1 131 240 1 145 045 1 36 250 1 36 250C-ent ,i&i,it! RM'000 491 902 06 359 0< 592 69 4<

N"# :o)in* C&/it&, RM'000 639 33< 43< 6<6 0< 592 1 <94 45

IJM CORPORATION YEAR'6 2009 2010 2011 2012

C-ent &sset RM'000 5 313 043 5 59< 66 5 <4< 6<2 6 51< 546

C-ent ,i&i,it! RM'000 3 550 210 2 6<5 225 2 6<5 623 2 952 <34

Net :o)in* C&/it&, RM'000 1 962 <33 2 913 541 3 163 059 3 565 12

T7" )"# $%&'()* +,-(#, ()(+,#"@ #7" $7"#7"& #7" +%8-,) +/&&")# ,@@"#@ (@ 8%&"

#7,) +/&&")# (,>((#("@ %& )%#. I #7" +%8-,) 7,@ #7" +/&&")# (,>((#("@ 8%&" #7,) #7"

+/&&")# ,@@"#@ #7" ,&" -&%>,> &/) () #&%/>" () -,()* >,+' #7"(&@ +&"(#%&@ () #7" @7%&#

#"&8. T7"&" +%/ >" 8%&" @"&(%/@ +,@" +%/ %++/& ,&" >,)'&/-#+.

F%& #7" IGB C%&-%&,#(%) %) #7" ",& 200< #% 2009 #7" )"# $%&'()* +,-(#, @7%$@ ,)

()+&",@()* () )/8>"&@ > RM 132 340 000 $7(+7 (@ ()(+,#"@ , *%% %-"&,#(%), "(+(")+.

T7"&"%&" (# &""+#@ #7" +%8-,) 7,@ +,@7 ,) @7%&# #"&8 ,@@"#@ "-"+#" #% +%"&" #7"

@7%&# #"&8 ">#. %$""& %) ",& 2010 #7" +%8-,) 7,@ @(*)((+,)# &%--" #7" )/8>"&

% )"# $%&'()* +,-(#,. T7(@ (@ /" #% #7" 7(*7 )/8>"&@ ,8%/)#" %) #7" +/&&")# (,>((#

"&@/@ +/&&")# ,@@"#@ %) #7,# -,&#(+/,& ",&. M%&"%"& #7" +%8-,) 8,),*" #% +,#+7 /- #7"

7(*7 "" % )"# $%&'()* +,-(#, %) &%$ &%8 ",& 2010 /)#( 2012. T7(@ @7%$@ #7" 7, ,)

,"/,#" (/( ,@@"#. P%@(#(" $%&'()* +,-(#, ")@/&"@ #7" (&8 ,>" #% +%)#()/" (#@ %-"&,#(%)

,) 7," , @(*)((+,)# ")%/*7 /)@ %& (),)+" #7"(&@ @7%&# #"&8 ">#. O) ",& 2012 #7"

+%8-,) 7,@ 7(*7"@# )"# $%&'()* +,-(#, (# +%/ >" &%8 #7" ,+#(%) % +%8-,) >/()*

7/*" /,)#(# % ()")#%&("@ @% #7"(& +/&&")# ,@@"#@ ,&" ()+&",@" ,) @#",( 7(*7 &%8

-&"(%/@ ",&@.

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F%& #7" IJM C%&-%&,#(%) #7" +%8-,) @#,&#@ )"# $%&'()* +,-(#, %) ",& 200< ,# RM2

331 254 >/# #7" +%8-,) 7, @""&" , %) ",& 2009 > RM 360 421 000. I# @7%$@ #7"

+%8-,) "@@ "(+(")+ %) %-"&,#(%), $7(+7 8",)@ #7" +%8-,) ,(@ #% 8,()#,() %&

"-,)@ #7"(& %-"&,#(%),. L"@@ )"# $%&'()* +,-(#, &""+# #7" +%8-,) 7,@ "@@ +,@7 ,)

@7%&# #"&8 ,@@"#@ #% >" (/((# #% +%"&" +/&&")# (,>((#. T7"&"%&" (# ,@% +%/ >" &",#"#7" +%8-,) (@ )%# %-"&,#()* () #7" 8%@# "(+(")# 8,))"& ,) ,@% @%$@ +%"+#(%) %) #7"(&

,++%/)# &"+"(,>". %$""& #7" +%8-,) 7,@ (8-&%"@ ,) @#",( ()+&",@" #7"(& )"#

$%&'()* +,-(#, @()+" ",& 2010 /)#( 2012. T7" ()+&",@()* ,8%/)# %) +,@7 8",)@ #7"

+%8-,) 7,@ ,,(,>" #% /) #7" *&%$#7 ,) %#7"& ()(#(,#(" -/&-%@". I) ,(#(%), #7" 7(*7

)"# $%&'()* +,-(#, ,@% "()" ,>((# % #7" +%8-,) (#@" () 8,),*()* #7"(& &"@%/&+"@ ,)

/(+' +7,)*"@ (# ()#% +,@7. T7" +,@7 #7,# +%/ ,@% >"") /@" %& &"()"@# -/&-%@".

12 | P "



Y",&@ 2009 2010 2011 2012

IJM CORPORATION T(8"@ 1.59 2.09 2.1< 2.21

IGB CORPORATION T(8"@ 2.3 1.62 2.06 3.2

T7" IJM +%&-%&,#(%) @7%$@ ,8%)* #7" (" ",&@ %-"&,#(%), #7"(& +/&&")# &,#(% ,&"

,8%@# #7" @,8". T7" ""@ % #7" &,#(% ,&" 8%"&,#" >/# @#( +%)@("& *%% ,@ #7" +%8-,)

+,) +%"& +/&&")# (,>((#("@ %"& +/&&")# ,@@"#@ ,@ #7" +,) 8,()#,() , &,#(% ,>%" 1.50. A@

*")"&,(" /@/, , *%% -"&%&8,)+" % +%8-,) 7,@ , +/&&")# &,#(% >"#$"") 1.5 /)#( 2.0.

A#7%/*7 (# ,@% @7%/ %%'()* %) #7" #-" % ()/@#& ,) #7" >/@()"@@ #7,# ")#(# (@ >"")

&/). T7" (/( &,#(% % IJM C%&-%&,#(%) (@ >"") "+&",@"@ #% 1.59 %) ",& 2009. T7(@ 8(*7#

/" &%8 #7" +,@7 ,) >,)' >,,)+"@ (@ &"/+" >"+,/@" #7,# (@ /@" %& ((") -,8")#

-/&-%@". F%& ",& 2010 #% 2012 #7" &,#(% (@ @#",( ()+&",@"@.

T7" IGB C%&-%&,#(%) 7,@ , >"##"& &,#(% $7(+7 (@ 1.50 ,) ,>%" %& #7" (" ",& () ,

&%$. T7" &,#(% (@ +%)#()/"@ *&%$()* /- ,++"-# %& #7" ",& 2010 $7"&" #7"&" (@ @(*)((+,)#&%--" &%8 2.3 #% 1.62 $7"&" #7" %$"@# +/&&")# &,#(% #7,# 7, >"") &"+%&" %& #7(@

+%8-,) ,8%)* (" ",&@. O) ",& 2012 #7" +%8-,) 7,@ @#,#" #7" 7(*7"@# &,#(% $7(+7 (@

3.2 +%8-,&" #% #7" -&"(%/@ ",&. T7" ()+&",@()* %) +/&&")# &,#(% @7%$@ #7" IGB

C%&-%&,#(%) 7, #,'") @"&(%/@ () #7"(& ,>((# #% -,( /- #7"(& @7%&#H#"&8 "># #7(@ $%/

-&%>,> ")7,)+" ,@@/&,)+" % ()"@#%&@ @7,&"7%"&@ ,) %/#@("& ,>%/# #7"(& ,>((# #% -,

"># %"& #7" )"# 12 8%)#7.

13| P "



G&/+i#&, Re/esent&tion "

B,@" %) #7" *&,-7 $" +,) @"" #7" IGB C%&-%&,#(%) ,) IJM C%&-%&,#(%) 7,"

+%)@#,)# ()+&",@" %) ",& 200<. B/# %& ",& 2009 #7" IJM C%&-%&,#(%) @(*)((+,)# &%--"

$7(" IGB C%&-%&,#(%) 7, @#",( (8-&%". F&%8 ",& 2009 /)#( 2012 #7" IJM

C%&-%&,#(%) @#&(" #% 8,()#,() #7"(& *%% &,#(% +%)(#(%) #% +%8-"#" $(#7 %#7"& +%8-,) &%8

#7" @,8" @"+#%& ,@ , &"@/# #7" '""- ()+&",@()* #7" +/&&")# &,#(% /)#( ",&@ 2012.



8.2.( 9UICK RATIO

/(+' &,#(% (@ >"") ()#"&-&"# ,@ , +%8-,) @7%&# #"&8 (/((# #% 8",@/&" ,>((# #% /@"

#7"(& /(+' ,@@"#@ %& -,()* +/&&")# (,>((#("@ -/&-%@". I) ,(#(%), #7" (", /(+' &,#(%

@7%/ >" 1:1. B,@" %) #7" #,>" ,>%" $" +,) @"" #7" IJM C%&-%&,#(%n 7,@ , @#(8/,#()*

+%)(#(%) $7"&" #7" /(+' &,#(% @7%$@ ()(+,#" #7(@ +%8-,) 7,@ 8,),*" #7"(& /(+' ,@@"#@

-&%-"& () #7" (" ",& >/@()"@@ %-"&,#(%),. T7" &,#(% @""8 "+&",@" &%8 1.4 #% 1.4 %)

",& 2009 #7(@ 8(*7# >" /" #% "+&",@" %) #7" +,@7 %& ,++%/)# &"+"(,>" >,,)+"@. %$""&#7" &,#(% (@ 8,()#,()" ()+&",@" ""& ",& @()+" 2010 /)#( ",& 2012.

F%& #7" IGB C%&-%&,#(%) #7" &,#(% @#,&# $(#7 2.1 %) ",& 2009 ()(+,#"@ , *%%

)/8>"&@ $7"&" (# &""+#@ , *%% +%)(#(%) % #7" +%8-,). I# @(*7# ()+&",@" %) ",& 2009

&%8 #% 2.1 (# 8(*7# 7," ,) ,,)#,*" ,) (@,,)#,*" () , ("&")# #"&8. T7" 7(*7 &,#(%

8, ()(+,#" #7" +%8-,) '""- #%% 8/+7 +,@7 %) 7,) %& -&%>"8 () +%"+#()* #7"(& ,++%/)#

&"+"(,>". %$""& 7(*7 &,#(% ,@% @7%$@ #7(@ +%8-,) +,) 8""# #7"(& +/&&")# (),)+(,

%>(*,#(%) $(#7 /(+' /) %) 7,)@. T7" 7(*7"@# &,#(% %& #7(@ +%8-,) @#,#" %) ",& 2012

$7"&" (# @7%$@ , &,#(% 3.63. (*7 )/8>"& () /(+' &,#(% (@ )""" $7") #7" +%8-,) 7,

((+/# >%&&%$()* %) @7%&# #"&8 /)@.

G&/+i#&, Re/esent&tion"

#C /+)

4

3

2

1

0

*"% 2008 2009 2010 2011 2012

IJM C++"($+#IBC++"($+#

|

IGB +%&-%&,#(%) T(8"@ 2.1 1.53 1.96 3.63

IJM +%&-%&,#(%) T(8"@ 1.4 1.<9 1.96 2.04



8.(.0 A#ti$it!;E33i#ien#! R&tio

2009 2010 2011 2012

IB IJM IB IJM IB IJM IB IJM

A%%( T6#+ "($+ 0,14 0,39 0,1 0,32 0,14 0,29 0,14 0,33

I##(+* T6#+ T$.% 4 10 4 7 12 1 !

A" C+::($+# ?"*% 73 1! 47 3 104 38 77 22P$+;

A" P"*.#( ?"*% 281 97 3!7 101 8 8! 29 10$+;

C%88")#:

A@@"# #/&)%"& &,#(% ()(+,#"@ #7" (&8 "(+(")+ ,# /@()* #7"(&@ ,@@"#@ () *")"&,#()* @,"@

%& &"")/" $7(+7 8",)@ #7" 7(*7"& #7" )/8>"& (@ >"##"&. F%& #7" %"&, #7" IGB C%&-%&,#(%) 7,@ ,

%$"& ,@@"# #/&)%"& &,#(% +%8-,&" #% #7" IJM C%&-%&,#(%) ,%)* #7" (" ",&@ %-"&,#(%),. T7(@

@7%$@ #7" IJM C%&-%&,#(%) 7,@ 7(*7"& *&%$()* &"")/" () -&%-%&#(%) #% @,"@ +%8-,&" #% #7" IGB

C%&-%&,#(%). M",)@ IJM C%&- 7,@ /#((@" ,# /@()* #7"(& ,@@"#@ "(+(")+("@ +%8-,&" #% #7"(&

+%8-"#(#%&. M%&"%"& #7(@ ,@% ()(+,#"@ #7" -&(+"@ @#&,#"* #7,# #7" +%8-,) 7, >"") /@" $7"&"

#7" 7(*7 ,@@"#@ #/&)%"& @7%$@ #7" +%8-,) 7, %$ -&%(# 8,&*() +%8-,&" #% #7" %$"& ,@@"#

#/&)%"& +%8-,) $7(+7 7, , 7(*7 -&%(# 8,&*(). W" +,) +%)+/" #7,# #7" IJM C%&-%&,#(%) 7,@ ,

>"##"& ,8%/)# % @,"@ #7,# +,) >" *")"&,#" %& ""& &()**(# 8,,@(, $%&#7 % ,@@"#@ +%8-,&" #%

#7"(& +%8-"#(#%& IGB C%&-%&,#(%).

I)")#%& #/&)%"& @7%$@ 7%$ #7" +%8-,) 8,),*" ,) @"()* #7"(& ()")#%& $7(+7

ens-e% t+e #o/&n! e33i#ien#! on +&n%,in* 3i's in$entoies. Fo t+e 3ist t+ee !e&s4 t+e

IJM C%&-%&,#(%) @7%$@ ,) ")+%/&,*()* )/8>"&@ % ()")#%& #/&)%"& $7(+7 8",)@ #7" 7, >"")

@% #7"(& ()")#%& ""+#(" +%8-,&" #% #7" IGB C%&-%&,#(%) #7,# 7, @(*)((+,)# %$"& () #7"

()")#%& #/&)%"& %"& #7" #7&"" ",&@ -"&(%. L%$ ()")#%& #/&)%"& 8(*7# &(@' #7" +%8-,) ,@

#7" ,&" 7%()* ,) %>@%"#" ()")#%& #7,# $%/ 8,'" ()")#%& "@@ <-&,it! +i,e +o,%in* it. It

&! e&t -/ #o/&n!'s /o3it i3 +o,%s in$ento! in ,on* tie -"&(%. M%&"%"& 7(*7 ()")#%&

#/&)%"& @7%$@ , *%% +%)(#(%) % #7" +%8-,) () #7" 8,&'"# >/# @%8"7%$ ( #7"&" (@ #%% 7(*7

()")#%& #/&)%"& $%/ ", #% #7" @#%+'%/#@.

1$ | P "



T7(@ (@ )%# , *%% ()(+,#%& ,@ #7" @#%+'%/#@ #,'" #(8" #% &"H@#%+' #7" ()")#%& ,)

*(" , )"*,#(" -"&@-"+#(" #%$,&@ #7" +(")#@. T7,# >"+,/@" @%8" % #7" +(")#@ )"" @#%+' #%

>" () #(8" $7") #7" ,&" >"") %&"&" ,) @%8" % #7"8 $%/ )%# #%"&,#" ( ,) ",

7,--") #7(@ $%/ ", #% %@@ ( #7(@ @(#/,#(%) %++/&. T7"@" "-,() $7 IJM C%&-%&,#(%) 7,

@/") &%--" () ",& 2011 #% ",& 2012 $7(" IGB C%&-%&,#(%) @#",( ()+&",@".

A"&,*" +%"+#(%) -"&(% ,&" "@#(8,#"@ ,"&,*" % >/@()"@@ #% &"+"(" -,8")# &%8

#7"(& ">#%&@. T7" IJM C%&-%&,#(%) 7,@ , 7(*7 )/8>"& () ,@ #% *"# #7" -,8")# &%8 #7"(&

">#%&@ +%8-,&" #% #7" IGB C%&-%&,#(%). %$""& #7(@ 8(*7# /" #% #7" IJM C%&-%&,#(%) 7,@

8%&" ()")#%& #/&)%"& +%8-,&" #% #7" IGB C%&-%&,#(%) $7(+7 8",)@ IJM C%&- 7, 7(*7

,++%/)# &"+"(,>" #7,# $%/ ()+&",@" #7" , +%"+#(%) &"+"(". IGB C%&- 7,@ %$

+%"+#(%) -"&(% ()(+,#" , *%% ,@ #7" +,) *"# -,8")# /(+' &%8 #7" ">#%&@

8%&"%"& #7"(& ()")#%& #/&)%"& (@ >(# %$"& @% #7" (@ "-"+#" #% *"# +%"+#(%) % ">#

,@#"& +%8-,&" #% #7" IJM C%&-. S,8" *%"@ #% ",&@ 2011 /)#( ",&@ 2012 $7"&" #7" IJM

C%&- 7,@ %$ ,"&,*" +%"+#(%) -"&(% $7(+7 ()(+,#"@ *%% +%)(#(%) >/# (# ,@% /" #% #7"(&

@(*7# "+&",@"@ () ()")#%& #/&)%"& $7"&" &"/+" () ,++%/)# &"+"(,>". I) %"&, >%#7

+%8-,) 7, , *%% ,--&%(8,#"@ ,8%/)# % #(8" #,'") %& ,"&,*" +%"+#(%) -"&(% %"&

(" ",&@ %-"&,#(%), >/@()"@@.

A"&,*" -,8")# -"&(% @7%$@ #7" )/8>"&@ % ,@ %& 8%)#7 #7,# +%8-,) +,) -,

#7"(& +&"(#%&@. I# &"-&"@")#@ 7%$ $" +%8-,) +,) -, +&"(# -/&+7,@"@. F%& ",& 2009 #7"

IGB C%&-%&,#(%) 7," , >"##"& ,"&,*" -,8")# -"&(% +%8-,&" #% #7" IJM C%&-%&,#(%)

$7(+7 -&"@")#@ %$"& ,"&,*" -,8")# -"&(%. IJM C%&-%&,#(%) @7%$@ #7" ,* 46 ,@

>"7() (#@ +%8-"#(#%& IGB C%&-%&,#(%) () #"&8 % -,8")#. %$""& () ",& 2009 /)#( ",&@

2010 IGB C%&-%&,#(%) 7,@ 7(*7 ,"&,*" % -,8")# +%8-,&" #% IJM C%&-%&,#(%) (# $(

+&",#" &(@' %& #7"(& +%8-,) ,@ (# @7%$@ +%8-,) ,(@ #% 8,),*" (/( ,@@"#@ ,) >,

&"-/#,#(%) ,8%)* +&"(#%&@. S%8"7%$ #7" IGB C%&-%&,#(%) &(@" &%8 #7" , ,) +%)#()/"

#% +&",#" @/++"@@ $7") ",&@ 2011 /)#( ",&@ 2012 @7%$@ 7/*" (8-&%"8")# ,@ #7" )/8>"&

() ,"&,*" -,8")# -"&(% (@ &%--" @(*)((+,)# +%8-,&" #% #7" IJM C%&-%&,#(%).

1& | P "



8.5.0 LE=ERAGE ; GEARING RATIO

2009 2010 2011 2012

JM IGB IJM IGB IJM IGB IJM IGB

Debt ratio Ratio 0.51 0.37 0.48 0.31 0.48 0.32 0.49 0.33

Debt to equity ratio Times 2.85 1.35 2.49 0.97 2.44 1.38 2.82 2.25

Times Interest Earned ratio 3.8 4.88 3.87 6.17 4.38 7.17 5.69 6.26

D"># &,#(% 8",@/&"@ 7%$ 8/+7 #7" +%8-,) ,&" >"()* (),)+" #7&%/*7 ">#. B,@(+,

"># &,#(% ,>%" 1 ()(+,#" #7"(& +%8-,) ,&" (),)+" 8%&" &%8 ">#. T7"&"%&" (# ,@% 8",)@

#7" +%8-,) , 7(*7 "># ""&,*" (&8. A@ #7" %"&, %& >%#7 +%8-,) #7" @7%$@ , *%%

"># &,#(% $7(+7 8",)@ #7" -&%-%&#(%) % #7" +%8-,) ,@@"#@ (),)+" > "># ,&" ,(& %$ ,) (#

(),)+" 8%&" &%8 "/(# &,#7"& #7,) ">#. C%8-,&" #% #7" >%#7 +%8-,) #7" "># &,#(% %& IJM

C%&-%&,#(%) 7,@ , (##" 7(*7 &,#7"& #7,) IGB C%&-%&,#(%). T7" IJM C%&-%&,#(%) $(#7 7(*7 &,#(%

/@/, -,+()* #7"8 ,# , &(@' "@-"+(, /)"& #7" -&%-"&# 8,&'"# @"+#%& >/@()"@@ >"+,/@" #7(@

@"+#%& /@/, 7, , %,#()* &,#" % 8,&'"# -&(+". D"># #% "/(# &,#(% ()(+,#" 7%$ 8/+7 #7"

+%8-,) (),)+" #7"(& ,@@"#@ > -sin* %et &n% s+&e+o,%es' e<-it! o3 t+e -siness. Loe

&tio is oe /e3e&,e &s it()(+,#" "@@ &(@'. I #7" +%8-,) (@ 7(*7 () "># 8",)@ #7"

#") #% -, ,# 7(*7"& ()#"&"@# &,#"@ ,@ #7" >,)'@ /@/, -,+"@ , 7(*7 &,#" % ()#"&"@# %& #7"

+%8-,) #7,# 7,@ , 7(*7 &(@'. B,@" %) #7" #,>" ,>%" $" +,) @"" #7" IJM C%&-%&,#(%) 7,@ 7(*7

"># #% "/(# &,#(% +%8-,&" #% #7" IGB C%&-%&,#(%). W" +,) +%)+/" #7,# #7" IGB C%&-%&,#(%)

7,@ , >"##"& (),)+" #7"(& 8%)" #7&%/*7 "/(# +%8-,&" #% #7" "># ,%)* #7" (" ",&@

%-"&,#(%),.

T(8"@ ()#"&"@# &,#(% ()(+,#"@ #7" ,>((# % #7" +%8-,) #% 8""# #7" "># %>(*,#(%) $7")

(# (@ /" #%. I# 8",@/&"@ 7%$ 8/+7 #7" +%8-,) +,) &"-, >,+' #7"(& "># $7") (# )""". T7"

7(*7 &,#(% 8",)@ #7" +%8-,) (@ ,>" #% -, #7"(& "># $7"&",@ ( #7" #(8"@ ()#"&"@# ",&)" &,#(% (@/)"& 1 8",)@ #7" +%8-,) (@ 7,()* , -&%>"8 () *")"&,#()* ")%/*7 /)@ #% -, >,+' #7"(&

">#. U)"& #7(@ +(&+/8@#,)+"@ $" +,) @"" #7" IJM C%&-%&,#(%) 7,()* , 7,& #(8" #% -,@ #7"(&

"># %>(*,#(%) %) ",& 200< $(#7 #7" &,#(% 0.0< +%8-,&" #% #7" IGB C%&-%&,#(%) #7,# 7," &,#(%

4.3 $7(+7 7, , >"##"& () 8,),*()* #7"(& %/#@#,)()* ">#. F%& %"& (" ",&@ %-"&,#(%), #7"

IJM C%&-%&,#(%) (@ @#&/**()* #% '""- #7"(& >/@()"@@ () &"-,8")# ,>((# $(#7() #7" @(8(,&

+%8-,) /)"& @,8" @"+#%& % >/@()"@@.

1 | P "



Graphical representation:

L!/>G/"R+)

8

7

!

4

3

2

1

0 IJM IB JM IAB IJM IB IJM IAB IJM IAB

2008 2009 2010 2011 2012

?@( "($+ R"($+ 0,49 0,38 0,1 0,37 0,48 0,31 0,48 0,32 0,49 0,33?@( (+ 6$(* "($+

T$.% 3,28 1,3 2,8 1,3 2,49 0,97 2,44 1,38 2,82 2,2 T$.% I#(%( E"#;"($+ 0,08 4,73 3,8 4,88 3,87 !,17 4,38 7,17 ,!9 !,2!



19 | P "



8.7.0 MARKET =ALUE.

2009 2010 2011 2012

IJM IB IJM IB IJM IB IJM IBE"#$#% P S&" EPS %# 23,4! 10,9 22,!9 12 22,!3 1!,3 29,84 12,

P$/E"#$#% "($+ %# 0,18 0,18 0,22 0,17 0,28 0,1 0,19 0,18

Earnings per share (EPS) are being considered to determine how much the share price

of the company. While calculating the outstanding shares, it more preferable to used weighted

average numbers shares outstanding because the numbers of shares can be easily change and

convertible. For overall five years operational from years 2008 until years 2012, the IJM

Corporation shows better earnings per share and higher than IGB Corporation. On overall the

IJM Company has a very encouraging improvement on their business. IJM Corporation stated

steadily growth for five years business operational. For the IGB Corporation, even though

they are having low earning per share therefore they also show an improvement along the five

year business operational. IGB Corporation start from 10.5sen then increase to 12.0sen up to

years 2012.

Price earnings ratio can be defined as the market price per share on current years

divided by earning per shares on the current years. P/E ratio is usually used by the investors to

evaluate the growth of the company in a future. However P/E ratio cant shows the whole story

of future growth of company. It more usually used to evaluate company within the competitors

under the same industrial and as a basis against company own historical P/E ratio. As we can

see, the IJM Corporation had a negative number on year 2008 which is - 0.24. This because of

the consequences of the business where they fail to generates revenue and having losses on that

year. The next year, IJM Corporation had recorded rapidly growth thus ahead from their

competitor until year 2012.

20 | P"



>.0 T+e O$e$ie o3 Co/&n! Pe3o&n#e -/ to %&te ?201(@

B,@" %) #7" +/&&")# @7,&" -&(+" /- #% ,#" 21 O+#%>"& 2013 #7"&" (@ ,) ()+&",@" %)

#7" ,/" % @7,&" +%@" ,# #7" 7(*7. M",)@ #7" IJM C%&-%&,#(%) @#%+' ,&" () "8,)" >

()"@#%&@. W7") 8%&" -"%-" $,)#@ #% >/ @#%+'@ &%8 +%8-,) #7" -&(+" (@ 8%"@ /-. T7"

&",@%) % IJM C%&-%&,#(%) ()+&",@()* "8,) %) @#%+'@ /" #% #7" ()"@#%&@ ()@ #7,# #7(@

+%8-,) (@ $%&#7. I) ,(#(%) #7" (),)+(, &"-%&# &"",@" 7"-@ #7" ()"@#%& #% ",/,#"

+%8-,) -"&%&8,)+" ,) $",#7 >,@" %) 7(@#%&(+,. M%&"%"& #7" ()"@#%& ,@% #") #%

>/ #7(@ +%8-,) @#%+' >"+,/@" % #7" 7(*7 PE &,#(% $7"&" #7"&" (@ ()(+,#"@ #7" /#/&"

*&%$#7 % #7" +%8-,) >,@" %) #7" ",&("& ,),!sis@ is ette. Hoe$e4 s+&e /i#e

%oesn't @,8" $(#7 #7" ,/" % +%8-,) $7(+7 +," 8,&'"# +,-(#,(,#(%). T7" 8,&'"#

+,-(#,(,#(%) (@ #7" #%#, 8,&'"# ,/" % +%8-,) %/#@#,)()* @7,&"@. T7"&"%&" 8,&'"#

,/" (@ #%#, ,/" %) +/&&")+ % #7" +%8-,) @#%+'@.

21 | P "



As we can see, the table of market price analyse by bursa saham shows the IGB

Corporation closed the stock price at the same. There is no change up to date related to the

company stocks price. Therefore we can conclude that the IGB Corporation market growth

development is quite slows compare to their competitors. It also could be related to the earlier

analysis on the P/E ratio which this company has significantly lower and it would make the

investor think twice before invest on buying this company stocks. Moreover this company

also make a profit from the financial report that had been released but it more to moderate

and the range is sustainable compare to the other competitor that has a bombastic revenue on

their financial performance.

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.0 CONCLU6ION RECOMMENDATION

Based on the studies that had been carried out, we found out the IJM Corporation has

a better performance and had a steadily growth compare to the IGB Corporation. It can be

prove by comparing the test that being perform for both companies. As we know, at the early

stage the IJM is having difficulty in generating revenues and having losses, however they

prove this company could manage and creates competitive among the same industrial.

Moreover, the IJM Corporation is better because of their financial strategies and creates

potential opportunity to keep profit stability. Despite beating the market expectation, the IJM

Corporation reflect though market conditions and pressures to achieve goals. Because of that,

IJM has developed and focused on the customer retention and also conduct a research to

understand well about their strength and weakness. The information of the company survivalcan be knows from the annual report of this company.

Recommendation based on the analysis that had been carried out, each company that

run a business should create a culture of trust. The honest communication could diminish

differences among team workers and enhances the transparency among top and bottom line

workers. This could lead to improvement and efficiency of workers so then the performance

of company also could be surge. Thus the outsider such as investors attracted to theorganization that had great culture values among them. Secondly, the company should pay

attention toward becoming the best in class as benchmarking toward other competitor. This

could enhance the company goals and vision toward more effective and put an effort by using

the best approach to become favourable company in the industry.



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Documents

OUM Human Recearch .docx