Malaysia’s construction industry was upgraded to “overweight” from “neutral” at RHB Research Institute Sdn Bhd on expected government rail and land contracts.
Gamuda Bhd was named RHB’s top tactical pick as it may win a mass rail project in Kuala Lumpur, the research house said in a report today. RHB rates the stock “trading buy” with a fair value of RM3.85.
Sunway Holdings Bhd was its top value pick with an “outperform” rating and fair value of RM2.35, the report said. -- Bloomberg
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