Better structure for Gamuda in Penang reclamation works, says Kenanga

KUALA LUMPUR: There are more positives than negatives for Gamuda Bhd in taking on the role of both developer and contractor in the reclamation works of Island A.

Kenanga Research in a note said it is net positive on the recent announcement as the group can now benefit from upsides in land prices and prodit as an equity partner, while works can be expedited without any concerns over state funding issues.