Wednesday, April 6, 2011

CIMB Research maintains Overweight on construction

KUALA LUMPUR: CIMB Equities Research said the Greater KL Conference it hosted on Tuesday, April 5 drew more than 100 fund managers, which indicates continued strong interest in the CONSTRUCTION [] sector as implementation of key Economic Transformation Program (ETP) projects picks up.

It said on Wednesday that execution of the MRT Sungai Buloh-Kajang Line, river rehabilitation project and the Rubber Research Institute Malaysia land development should be positive for the property sector too as the projects should provide opportunities for property players too.

'We came away feeling more upbeat on the outlook for the construction sector which should in the months ahead offer clearer alternative plays on the Greater KL initiative and the ETP.

'We reiterate our OVERWEIGHT stance on the construction sector, with Gamuda and WCT remaining as our top picks and MRCB staying as our key GLC construction pick. We also maintain our OVERWEIGHT rating on the property sector. Mah Sing is our top pick,' it said.

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