Maybank IB maintains 'buy' on Cahya Mata Sarawak

KUALA LUMPUR: Despite the earnings impact from the movement control order, Cahya Mata Sarawak Bhd (CMS) remains a liquid proxy to Sarawak's infrastructure potential, says Maybank Investment Bank Research.

"As the sole cement producer and a key construction materials supplier in Sarawak, CMS is poised to benefit from the wave of infrastructure spending in the state – Second trunk road, Coastal roads & bridges, Sabah-Sarawak link road, State water grid programme (via 20%-KKB)," said the research house.