Published: Thursday July 5, 2012 MYT 8:30:00 AM
CIMB Research: WCT, Mudajaya top construction picks
KUALA LUMPUR: CIMB Equities Research said contractors are becoming more upbeat about job award prospects as transport infrastructure-driven projects will get the momentum going for even larger jobs from H2, 2012 onwards.
It said on Thursday this should lay the foundation for more active newsflow beyond MRT. Likely pre-election driven newsflow continues to anchor its Trading Buy call.
“The sector is not an Overweight given the overhang from Malaysia's general election. WCT and Mudajaya are now our top picks as contract flows are likely to pick up, backed by better job visibility.