Daily Market Report (23 Oct 2019)
- It’s been almost 2 weeks since the tabling of Budget 2020 and we noticed that construction related contracts has been trickling in which we believe is a good sign.
- Thus far contracts mentioned have totalled RM3.3bn for a plethora of smallish construction players namely TRC Synergy (RM99.5m), KKB Engineering (RM61m), Econpile (RM44m), Advancecon (RM50.5m), Vizione (pending RM2bn), Crest Builders (RM155m) and Vertice (RM851m).
- Although the impact on the local bourse has been rather muted, we reckon going forward interests on these companies to gather momentum once more projects are announced as the hype on the construction sector is lifted again.
