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Gamuda, IJM to get lion’s share of highway compensation, says CIMB Research

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Gamuda, IJM to get lion’s share of highway compensation, says CIMB Research Empty Gamuda, IJM to get lion’s share of highway compensation, says CIMB Research

Post by Cals Fri 07 Feb 2014, 09:41

Gamuda, IJM to get lion’s share of highway compensation, says CIMB Research
Business & Markets 2014
Written by theedgemalaysia.com   
Friday, 07 February 2014 09:16


KUALA LUMPUR (Feb 7): CIMB Research has maintained its Overweight rating on the construction sector and said the Deputy Prime Minister's announcement of no toll-rate increases this year was a surprise in view of the government's subsidy rationalisation initiative.
In a note Feb 6, CIMB Research analyst Sharizan Rosely said average toll-rate hikes in 2014 could have been 43% for the major highways, by his estimates.
Sharizan said a no-hike scenario was a net positive for the concessionaires, in his view, as compensation will be paid and traffic volume will not suffer.
“We expect Gamuda and IJM Corp, the blue-chip contractors and owners of major urban highways, to get the lion's share of the RM400 million compensation due.
“We remain Overweight on the sector with catalysts expected from MRT 2 and revival of job flows. Gamuda remains our top pick,” he said.
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