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OSK Research Overweight on construction
by hlk Tue 05 Jul 2011, 17:23
KUALA LUMPUR: OSK Research is maintaining its Overweight stance on the CONSTRUCTION [] sector with Mudajaya and Gamuda as its top picks.
It said on Tuesday, July 5 that domestic contracts in 2Q stood at RM1.6bn (down 52% on-year, down 40% on-quarter), which was the third consecutive quarter of decline.
“For the 1H period, domestic awards totalled RM4.4 billion, down 18% on-year. Despite the weak 2Q numbers, we maintain our RM18 billion target for 2011 as we anticipate that projects such as the MRT and LRT B will kick start in 2H,” it said.
The KL Construction Index has underperformed the KLCI by 4% year-to-date and OSK Research expects it to play catch up.
It said on Tuesday, July 5 that domestic contracts in 2Q stood at RM1.6bn (down 52% on-year, down 40% on-quarter), which was the third consecutive quarter of decline.
“For the 1H period, domestic awards totalled RM4.4 billion, down 18% on-year. Despite the weak 2Q numbers, we maintain our RM18 billion target for 2011 as we anticipate that projects such as the MRT and LRT B will kick start in 2H,” it said.
The KL Construction Index has underperformed the KLCI by 4% year-to-date and OSK Research expects it to play catch up.
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