KUALA LUMPUR: OSK Research said the value of domestic contracts awarded in 4Q 2010 totaled RM4.7 billion (+49% y-o-y, -16% q-o-q).
It said on Wednesday, Jan 5 that for the full year 2010, this amounted to RM15.6 billion (+56% y-o-y), which beat its RM13 billion target.
'We conservatively assume RM18 billion in domestic contract awards for 2011. At RM1.6 billion in 4Q, foreign job awards rebounded strongly y-o-y and q-o-q,' it said.
OSK Research said given the possibility of an early General Election this year, it envisages the momentum of positive news flow to accelerate further and rerate valuations.
'We remain OVERWEIGHT on CONSTRUCTION [], with Gamuda as our top pick for large caps and AZRB for small caps,' it said.
It said on Wednesday, Jan 5 that for the full year 2010, this amounted to RM15.6 billion (+56% y-o-y), which beat its RM13 billion target.
'We conservatively assume RM18 billion in domestic contract awards for 2011. At RM1.6 billion in 4Q, foreign job awards rebounded strongly y-o-y and q-o-q,' it said.
OSK Research said given the possibility of an early General Election this year, it envisages the momentum of positive news flow to accelerate further and rerate valuations.
'We remain OVERWEIGHT on CONSTRUCTION [], with Gamuda as our top pick for large caps and AZRB for small caps,' it said.
No comments:
Post a Comment