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Construction Sector Overweight; Gamuda Top Pick: Maybank
Malaysia Daily Bulletin | 12 October 2015
  • Maybank Investment Bank Research has reiterated its ‘Overweight’ call on Malaysia’s construction sector, noting that investors seem to be upbeat on the sector’s long-term prospect on the back of the strong pipeline of jobs and upcoming contract awards.
  • During a recent roadshow, the research firm gathered that foreign interest in construction sector was stronger, though there were concerns on the implementation timeline, due to political noise and financing availability.
  • Despite recent political noises, the research house said awards of major projects including government-related jobs have accelerated especially with the record number of project delivery partners (PDP) being confirmed.

Significance: Additionally, Maybank Research has chosen Gamuda as its top pick in the sector noting that investors also seem to favour the stock for its strong capabilities, robust balance sheet and long term orderbook visibility.

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