Contract awards likely to take off in final quarter

HLIB Research said that domestic contract awards in 3Q24 came in at RM11.2bil.

PETALING JAYA: Hong Leong Investment Bank (HLIB) Research is keeping its bullish outlook on the construction sector, premised on its expectation that infrastructure projects will take-off to lift contract awards in 2024 to over RM40bil, and potentially surpassing RM50bil.

For the final quarter of the year (4Q24), it continues to foresee rolling out of sizeable public infrastructure projects, commenting that the trickling out of works packages from Sarawak-Sabah Link Road (SSLR) Phase 2 and Pan Borneo Highway (PBH) Sabah 1B projects in the third quarter reaffirms this.