News about AP

Construction sector Downgrade to neutral: The surprise election outcome with Pakatan Harapan (PH) winning the election led to a knee-jerk selldown in construction stocks.

S P Setia Bhd (May 15, RM3) Maintain outperform with a target price (TP) of RM4.

PETALING JAYA (May 15): Election pledges made by the new Pakatan Harapan (Pakatan) government regarding affordable housing and the property market at large may hurt the industry as the new government seeks to further control the market which could potentially prevent its self-correction, said Institute for Democracy and Economic Affairs (Ideas) senior fellow Dr Carmelo Ferlito.

TL Corp Bhd (May 14, RM1.

KUALA LUMPUR (May 15): S P Setia Bhd has secured sales of RM1.

KUALA LUMPUR (May 14): Gabungan AQRS Bhd, which saw its shares plummet 30% to RM1.

KUALA LUMPUR (May 14): While markets are nervous that the new ruling coalition Pakatan Harapan’s pledge to review megaprojects may negatively impact the construction sector, some see the plan as a chance for greater inclusion of local players.

PETALING JAYA (May 11): While the Pakatan Harapan manifesto contains a number of proposals that are laudable, a more holistic approach is needed to make property prices more viable, said the Real Estate and Housing Developers’ Association (Rehda) president Datuk Seri FD Iskandar.

PETALING JAYA (May 11): As Malaysians witness the establishment of a new government by Pakatan Harapan (Pakatan), the National House Buyers Association (HBA) is looking at the promises made in its election manifesto, especially with regard to affordable housing and homeownership with “high optimism and anticipation”.

PETALING JAYA (May 11): The Asian Strategy and Leadership Institute (Asli) co-founder, director and CEO Tan Sri Michael Yeoh (pictured) believes that proposals set out by the Pakatan Harapan (Pakatan) coalition in their manifesto are achievable, good ideas which can accelerate the building of affordable housing.