Analysts upgrade calls on Gamuda on positive impetus

Gamuda Bhd is on a roll. The company’s recent appointment as the project delivery partner (PDP) by Penang government to oversee certain components of the Penang Transport Master Plan (PTMP) has prompted several analysts to upgrade their calls on the construction giant, citing positive impetus.

Just last month, the group (via the MMC-Gamuda JV) signed the PDP agreement for the Klang Valley MRT 2. The signing of a landmark water pact between the federal and Selangor governments, hopefully in September, will likely renew hopes for Gamuda to realise its water investments.