KUALA LUMPUR: Affin Research has downgraded Gabungan AQRS from Buy to Add as it had revised the group’s FY13-15 construction revenue forecast to RM270mil, RM350mil and RM350mil respectively as well as a lower take up rate in its property division.
In a note on Monday, the group said post Budget 2014, AQRS expects a softer demand for property in the southern region as well as a more competitive outlook ahead for the construction division.
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