Hong Leong Investment Bank (HLIB) Research has maintained its “Neutral” rating on the construction sector and said it prefers to take a longer term view. In a sector update on Monday (July 3), the research house said domestic re-rating catalysts are well anticipated by the market.
The research said it projects Hektar’s earnings to grow by 9.5% for FY2023F, 8.2% for FY2024F and 3.5% for FY2025F.
Nomura Research said it was “negatively surprised” by the news of the collapse of the proposed sale by Genting Malaysia Bhd (GenM) of a 15.5-acre block of land in Miami, Florida for US$1.23 billion.
Genting Malaysia Bhd (GenM) said the purported purchaser of its of its 15.5-acres of land in Miami has elected to end its current bid.
It said Gamuda’s foray into Australia already accounted for 71% of its orderbook of RM20.5 billion as at Jan 31.
Denmark retained its position at the top of the ranking for the second straight year.