CGS-CIMB: More clarity needed on larger-value projects in Budget 2023

KUALA LUMPUR: CGS-CIMB Securities (CGS-CIMB) is hoping for more clarity during the re-tabling of Budget 2023 on the status of large-value projects after the government suspended funds for flood mitigation projects pending a review of direct negotiation contracts.

The brokerage firm said contractors under its coverage did not have direct tender exposure to the construction packages under the Flood Mitigation Masterplan 2030, however, the news may raise concerns over the status of other larger-value projects mentioned in Budget 2023.