The research house said building materials (Cahya Mata Sarawak Bhd) and construction (Gamuda Bhd, IJM Corp Bhd, Sunway Construction Group Bhd, TRC Synergy Bhd and WCT Bhd) sectors should benefit from the multi-billion development expenditure after long delays caused by the political uncertainties between 2018 and 2022.
... citing its slower-than-expected recovery through the first half of the year.
BMI, a Fitch Solutions company, has maintained that Bank Negara Malaysia (BNM) will keep the overnight policy rate on hold at 3% until end-2023 and begin cutting rates early in the first half of 2024 (1H2024), alongside other major central banks including the US Federal Reserve.
RHB Investment Bank (RHB IB) Research has maintained its "overweight" rating on the construction and engineering sector and said it remains upbeat on the construction sector, premised on the lifting of the political overhang post state elections.
MIDF Research has initiated coverage on Matrix Concepts Holdings Bhd at RM1.52 with a "buy" call and target price (TP) of RM1.81.
The company said quarterly revenue rose to RM397.44 million, versus RM334.66 million a year ago.
It also posted higher unbilled sales of RM3.8 billion as at June 30, versus RM3.6 billion as at Dec 31, 2022.
NCT Alliance Bhd (NCT) posted a net profit of RM9.3 million in its second quarter ended June 30, 2023, on the back of a 20% increase in revenue to RM58.4 million.
The research house said the demand for affordable housing remains neglected while unsold units in other segments remain high as they exceed affordability levels.
Genting Group’s Resorts World Sentosa (RWS) is set to benefit from the return of Chinese travellers, according to industry magazine Inside Asian Gaming (IAG).
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