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.
KUALA LUMPUR (May 4): CIMB IB Research retained its overweight call on the construction sector and said the key sector risks are execution delays and competition from foreign contractors.
Construction sector Maintain overweight: The project delivery partner (PDP) contract for the high-speed rail (HSR) Malaysian infrastructure works was split between the YTL Corp-TH Properties and MRCB-Gamuda consortiums.
PETALING JAYA (April 10): Kwasa Land Sdn Bhd has inked an agreement with TSR Capital Bhd to develop a 6.
Construction sector Maintain overweight: High-beta construction stocks were among the least favoured in the first quarter of 2018 (1Q18), with the Kuala Lumpur Construction Index falling 9% year to date (YTD), weighed down by global stock market selldown.
KUALA LUMPUR (March 24): Higher construction work progress and stronger overseas property sales boosted Gamuda Bhd's net profit in its second quarter of financial year 2018 (2QFY18), which grew 27% to RM211.