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RHB Research upgrades Kimlun to Buy, TP RM1.36

KUALA LUMPUR: RHB Research has tactically upgraded construction company Kimlun to Buy from Neutral, at a revised target price of RM1.36 from RM1.52, offering 18% upside plus 5% FY19F yield.

Big changes ahead for construction players

HARDLY a month since Pakatan Harapan formed the federal government, several big changes have already taken place - with many more in the pipeline.

MRT3 axed: An MRT train moving towards Kajang from Kuala Lumpur on the Sungai Buloh-Kajang route. The new government recently announced it has scrapped the MRT3 project.

CIMB Research cautious on construction after rail jobs cancelled

PETALING JAYA: CIMB Equities Research remains cautious on the construction sector after over RM100bil worth of upcoming rail projects were cancelled over the past three days.

“We believe any upcoming big-ticket rail projects are now at risk of deferment, renegotiation or outright cancellation,” CIMB Research said, pointing to the ECRL and the Gemas-JB projects.

CIMB Research cautious on construction after RM100b rail jobs cancelled

KUALA LUMPUR: CIMB Equities Research remains cautious about the construction sector after over RM100bil worth of upcoming rail projects have been cancelled over the past three days.

The projects which have been axed are the High Speed Rail (HSR) and the MRT 3.

Construction stocks on the radar

PETALING JAYA: A win by Pakatan Harapan on reflex, is expected to spook the FBM KLCI.

Clear winner: Construction stocks benefited government spending such as the MRT project.

MIDF reaffirms buy call on YTL Corp

KUALA LUMPUR: MIDF Research reaffirmed its buy call on YTL Corp Bhd with an unchanged sum-of-parts-derived target price of RM1.82 on its appointment as a project delivery partners for the Kuala Lumpur-Singapre High Speed Rail (HSR) project.

Surprise railway win for YTL

PETALING JAYA: Among the many railway construction contracts that have been dished out of late, one in particular stands out from the rest.

YTL did build the Express Rail Link (ERL) infrastructure back in 1996, but it has been quiet on this front, especially when the numerous rail projects were announced in the past three years. (File pic shows: (from left) ERL chief executive officer Noormah Mohd Noor, YTL Corp executive chairman Tan Sri Yeoh Tiong Lay, ERL executive chairman Tan Sri Mohd Nadzmi Mohd Salleh, Transport Minister Datuk Seri Liow Tiong Lai, YTL Corp executive director Tan Sri Francis Yeoh and Deputy Transport Minister Datuk Ab Aziz Kaprawi at a ceremony to unveil the new train coach for KLIA Transit line at ERL depot in Salak Tinggi on Oct 20, 2016.)

CIMB Research retains Reduce call for Lafarge, sees net losses

KUALA LUMPUR: CIMB Equities Research has slashed it FY17F earnings per share (EPS) for Lafarge Malaysia and now projects a net loss of RM93mil.

Gamuda a top pick on potential rail jobs

KUALA LUMPUR: Gamuda Bhd remains a top pick among the big capitalised stocks for the multi-billion ringgit rail tunnelling jobs in the Klang Valley and other road projects, especially the Pan Borneo Highway (Sabah), according to CIMB Research.

The research house said the infrastructure company was in a “sweet spot for bigger rail tenders” and has a target price of RM5.88 pegged to a 10% realised net asset value (RNAV) discount and an implied 19% upside

Rail is a big theme in 2017

PETALING JAYA: Rail is envisaged to shape up to be a big theme in 2017 within the construction sector, as large-scale projects such as the MRT 2, Gemas-JB double tracking and the East Coast Rail Link (ECRL) are developed, according to CIMB Research.

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