Construction stocks rally on ECRL and Bandar Malaysia revival

Counters surge: Construction stocks were actively traded with some counters including Iskandar Waterfront City Bhd and Ekovest Bhd hitting limit-up yesterday. — AP

PETALING JAYA: The revival of the multi-billion-ringgit Bandar Malaysia project has brought back interest in the construction sector, but some reckon the potential beneficiaries are likely to be limited.

CIMB Research estimated the potential construction works value at between RM5bil and RM6bil based on the earlier estimated RM50bil to RM60bil gross development value assumption.