Brokerage keeps ‘buy’ call on Cahya Mata Sarawak

Spillover effect: Cement demand is expected to rise further on the back of the Pan-Borneo Highway Sarawak project. — Bernama

PETALING JAYA: Poised to benefit from Sarawak’s RM9bil development expenditure budget and with its subsidiary having secured a new RM466.7mil contract, Cahya Mata Sarawak Bhd (CMSB) remains a “buy” for RHB Research.

The research house also raised its forecasts for the group’s earnings for financial year 2018 (FY19) to FY21 by 1%, 2% and 1%, respectively, in view of the new contract running for four years until April 2023.