Promising outlook for WCT construction ops

Kenanga Research believes that the prospects for the group’s construction division in FY23 is more promising as “certain public projects at best will only come through in the first quarter of 2023.

PETALING JAYA: WCT Holdings Bhd’s order book replenishment target of RM1bil for its financial year ending Dec 31, 2022 (FY22) is unlikely to be achieved due to delays on tender decisions following the 15th General Election (GE15), say analysts.

Kenanga Research in its report, however, believes prospects for the group’s construction division in FY23 is more promising as “certain public projects at best will only come through in the first quarter of 2023 (1Q23), namely a hospital construction and a flood mitigation project earmarked in Budget 2023.”