Construction stocks tumble at Bursa Malaysia open

  • Stock on the Move
  • Monday, 14 May 2018

KUALA LUMPUR: Infrastructure and construction-related companies fell in early trade after the new ruling government said that it will review the existing mega projects.

George Kent Holdings Bhd plunged 29.95%, or RM1.18 to RM2.76 and Gamuda fell 12.55%, or 64 sen to RM4.46.,

Tolled road operator Lingkaran Trans Kota Holdings Bhd declined 10.62%, or 60 sen to RM5.05.

Gabungan AQRS hit limit down, falling 30%, or 48 sen, or  to RM1.12.

IJM fell 11.7%, or 31 sen to RM2.34 and WCT tumbled 22.66%, or 29 sen to 99 sen.

With the potential review by the new ruling Government, the prospects of the many local firms which are also involved in these projects have also become uncertain.

While some companies have already been awarded work packages, others have seen their share prices gain in anticipation of being potential beneficiaries of these projects.

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