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CIMB Research maintains Overweight on Construction sector, Gamuda top pick

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CIMB Research maintains Overweight on Construction sector, Gamuda top pick Empty CIMB Research maintains Overweight on Construction sector, Gamuda top pick

Post by Cals Thu 25 Sep 2014, 01:15

CIMB Research maintains Overweight on Construction sector, Gamuda top pick
Business & Markets 2014
Written by theedgemalaysia.com   
Wednesday, 24 September 2014 09:25

KUALA LUMPUR (Sept 24): CIMB Research has maintained its overweight rating on the construction sector and said its checks with several contractors on their expectations for the Budget 2015 announcement next month suggested that government spending on key infrastructure segments like rural roads, water, environment and government facilities should continue to be the key features.
In a note Sept 23, the research house said it also expects more clarity on outstanding highway projects.
“An increase in the total value of government-funded jobs in the pipeline vs. 2014's RM8.8 billion compiled figure is likely, which could be relevant to smaller cap contractors.
“MRCB (Add), AZRB (NR), Salcon (NR) and Puncak Niaga (Add) are likely beneficiaries.
“Maintain Overweight, with job flows as potential catalysts. Gamuda is our top pick for the big caps, and Muhibbah Engineering for the smaller caps,” it said.
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