THE oil and gas sector on the KL stock market, dampened by low oil prices and a weak ringgit, may be shunned for the moment, but not Muhibbah Engineering Bhd: it is positioning itself as a beneficiary of the strong US dollar and one of the main sub-contractors for the massive Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor.
“Our stake in all three Cambodian airports is doing well, with revenue in US dollars and boosted by 14% passenger growth for the first half compared with 12-13% previously.’’ said its group finance director Shirleen Lee.
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