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HLIB Research maintains “Overweight” on construction, top picks Gamuda, Mitrajaya

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HLIB Research maintains “Overweight” on construction, top picks Gamuda, Mitrajaya Empty HLIB Research maintains “Overweight” on construction, top picks Gamuda, Mitrajaya

Post by Cals Wed 03 Dec 2014, 21:17

KUALA LUMPUR (Dec 3): Hong Leong IB Research has maintained its “Overweight” rating on the construction sector with Gamuda Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) and Mitrajaya Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) as its top picks and said that unweiling of the Eleventh Malaysia Plan would be a key catalyst for the sector in 2015.
In a note Wednesday, the research house said risk of development expenditure cut due to lower oil revenue.
“Even in the event of a cut, our economist still expects year-on-year growth in development expenditure, albeit at a slower pace.
“Mega projects should not be adversely impacted as most are implemented “off balance sheet”, it said.
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