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NewsCIMB Research keeps WCT (9679), Mudajaya (5085) as Outperform
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CIMB Research keeps WCT (9679), Mudajaya (5085) as Outperform
by hlk Wed 12 Sep 2012, 08:48
KUALA LUMPUR: CIMB Equities Research
believes the pockets of underperformance in the results of the
construction sector in the second quarter ended June 30, 2012 are not a
big concern.
“The 22% year-on-year surge in the second quarter
sector GDP should underpin progress billings. Expect margin recovery
for some players gunning for specialist projects. Look at jobs beyond
MRT for 2H12 catalysts,” it said on Wednesday.
CIMB Research said it was sticking to its expectation of an extended pre-election window for positive sector newsflow.
“Our
estimates suggest up to RM14bil worth of jobs are outstanding for 2H12.
As sector developments are likely to pick up pace, we maintain Trading
Buy. We are not Overweight in view of election risks. WCT and Mudajaya remain our top picks,” said the research house.
believes the pockets of underperformance in the results of the
construction sector in the second quarter ended June 30, 2012 are not a
big concern.
“The 22% year-on-year surge in the second quarter
sector GDP should underpin progress billings. Expect margin recovery
for some players gunning for specialist projects. Look at jobs beyond
MRT for 2H12 catalysts,” it said on Wednesday.
CIMB Research said it was sticking to its expectation of an extended pre-election window for positive sector newsflow.
“Our
estimates suggest up to RM14bil worth of jobs are outstanding for 2H12.
As sector developments are likely to pick up pace, we maintain Trading
Buy. We are not Overweight in view of election risks. WCT and Mudajaya remain our top picks,” said the research house.
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