Kenanga IB bullish on construction sector amid mega projects

KUALA LUMPUR: Kenanga Investment Bank Bhd (Kenanga IB) remains bullish on the construction sector's outlook, driven by the impending roll-out of mega infrastructure projects such as the Mass Rapid Transit Line 3 (MRT3), Pan Borneo Phase 2 and flood mitigation initiatives.

Retaining its "overweight" call on the sector, the investment bank noted that private-sector building jobs, supported by significant investments in new semiconductor foundries and data centres, will also bolster the sector.