“We continue to expect the sector’s contract award momentum in FY20F to come off a low base, from our estimated RM80bil total jobs awarded in 2019 (pending new data release), compared with FY18’s RM134bil as per Construction Industry Development Board’s (CIDB) data, ” it said.
KUALA LUMPUR: CGS-CIMB Equities Research expects the first half of 2020 to be subdued for construction companies following the recent political developments up to the change in government.
The research house said on Thursday its channel checks have revealed more concerns than optimism surrounding the implementation of new infrastructure projects that have been planned by the previous government under Tun Dr Mahathir Mohamad.
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