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CIMB Research expects construction order flows to improve in 2H12

KUALA LUMPUR (June 7): CIMB Research expects construction order flows to improve in 2H12 s larger rail and highway jobs take centre stage,.

In a note Thursday, the research house said stronger progress billings led to 1Q12 outperformance for some contractors under its coverage while timing issues for earnings plagued others.

It said new jobs should flow through the numbers in the coming quarters and sustain margins from here on.

“More positive newsflow anchors our Trading Buy stance, which is not outperform due to the election overhang.

“IJM Corp and Gamuda remain our top sector picks as they are the biggest beneficiaries of large-scale jobs,” it said.

 

 

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