29/08/2012 (Bernama) - Alliance Research has maintained "buy" call on IJM Plantation and continues to be long-term positive on the company, given the group's oil palm trees' maturities in Indonesia.

It said IJM have 21,329ha planted with oil palm in Indonesia, of which 93 per cent are aged ones to three years.

"Total hectarage in Malaysia totalled 25,441ha. Hence, new maturities from Indonesia are going to almost double the group's production by 2016 and 2017," it said in a research note.

Meanwhile, Kenanga Research said that it was retaining its "outperform" call as it saw more affordable products coming on line. It also maintained its RM2.75 target price on IJM based on a 10 per cent discount.

"We gather the second quarter of 2013 sales could be quarter-on-quarter higher in addition to its ongoing projects," it said.