Gamuda’s 3Q20 reflected half a quarter of almost no construction activities (with the exception of KVMRT2 underground works) and property progress billings, and one month of 80%-90% traffic fall at toll roads, due to the MCO.
PETALING JAYA: Maybank Investment Bank Research (Maybank IB) expects the fourth quarter ending July 31,2020 for infrastructure-property based Gamuda Bhd
to be better, as the work pace at its projects has picked up after the government allowed construction activities to resume from May 4 onwards.
The research house said yesterday that while the Klang Valley MRT2 was now at 70%-75% of its optimum/pre-movement control order (MCO) level; its work pace is however expected to peak at only 90%-95% of its pre-MCO level under the new social distancing normal.
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