Higher infra spending to benefit Gamuda, IJM and SunCon

Finance Minister Tengku Datuk Seri Tengku Zafrul Tengku Abdul Aziz at the briefing of the Bandar Malaysia project by deputy executive chairman of Iskandar Waterfront Holdings, Tan Sri Lim Kang Hoo recently. Bandar Malaysia is the largest single urban development project in Southeast Asia with a gross development value of RM140bil. - Bernama file photo

KUALA LUMPUR: Alliance DBS Research expects the government to increase infrastructure spending in the Budget 2021 proposals in November and this move will benefit Gamuda, IJM Corp and Sunway Construction.

In its construction sector report issued on Wednesday, it thinks the recent 2Q GDP contraction of 17% (worst decline since 4Q9 1998) would be a precursor to a more aggressive allocation for infrastructure spending in the coming Budget.