OSK names CMS, HSL, Nain as key beneficiaries of Sarawak job flows

KUALA LUMPUR: OSK Research has named Cahya Mata Sarawak (CMS), Hock Seng Lee (HSL) and Naim Holdings as key beneficiaries of greater job flows in Sarawak ahead of state elections by end-2010 or early 2011.

The reason being that jobs in the state are usually awarded to homegrown contractors.

In a report on Feb 2, the investment research house said Sarawak was expected to receive RM1.7 billion to build and upgrade roads and another RM1.7 billion to implement power supply projects under the National Key Results Area pertaining to improving basic infrastructure in rural areas.

"As the state played an important role in Barisan Nasional's 2008 General Election win, the Federal government needs to put greater emphasis on Sarawak.

"We think the jobs flow in Sarawak will accelerate moving closer to the polls," OSK Research said.

It said that so far, the jobs award appeared to be picking up with the Sinohydro-Naim joint venture winning the RM209 million Bakun-Similajau transmission line and HSL bagging a smallish RM36 million job for road works. -- Bernama