Brokerage upgrades construction sector to overweight

Tunneling works on the ECRL route near Dungun. - Filepic

KUALA LUMPUR: Affin Hwang Capital Research has upgraded the construction sector from “neutral” to “overweight” as Malaysia Rail Link Sdn Bhd (MRL) will call for tenders for the RM44bil East Coast Rail Link (ECRL) project’s civil works in the fourth quarter of this year.

It said that more infrastructure projects are likely to be revived. It also expects infrastructure spending to accelerate in 2020 to support gross domestic product (GDP) growth.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

ECRL , tunneling , works , Dungun , Gamuda , construction , sector , upgrade ,


Next In Business News

Tropicana swings into the red in 1Q Premium
ASNB to temporarily suspend transactions, services from June 4 to 7 Premium
IOI Properties posts net profit of RM59.7mil in 3Q Premium
Pos Malaysia posts lower net loss for 1Q at RM30.37mil Premium
Genting Plantations 1Q net profit surges 83% Premium
Supermax 3Q profit takes a hit due to WRO, lower selling prices Premium
Axiata slips into the red Premium
Ringgit ends slightly better against greenback Premium
TM 1Q net profit rises 4.4% to RM339.8mil Premium
UEM Sunrise swings back into profit in 1Q Premium

Others Also Read