Top Calls
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Sector Update � Construction (OVERWEIGHT,
maintain)
- Intermission break We remain bullish on the construction sector in 2H16. We believe new contract awards will see a strong rebound in 2Q16 as most of the Klang Valley MRT Line 2 (MRT2) packages were awarded. Contract awards will remain high in 2H16 as we expect infrastructure projects worth RM49bn to be rolled out. We expect sector fully-diluted core EPS growth to accelerate from 3% yoy in CY16E to 16% yoy in CY17E. We remain Overweight on the construction sector. Top BUYs are Suncon, WCT and Gamuda.
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Other Calls
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| For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports. |
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