Daily Market Report (9 July 2019)

  • The Government has heeded our call and announced the resumption of 2 mega infra related projects yesterday. First and foremost, the RM44bn East Coast Rail Link (ECRL) will commence later this month while the double tracking around Klang Valley worth RM3bn will be rehabilitated soon.
  • Slowly but surely, we expect more infra related projects to be revived soon with Penang being the hub and of course the High Speed Rail (HSR) estimated at RM75bn is another catalyst to boost the domestic economy.
  • Expect interests on construction companies to return with focus on Gamuda, IJM, Econpile, HSS and Gadang.