PETALING JAYA: A number of construction counters rallied to new highs yesterday, following the extension of focus on major infrastructure initiatives under Budget 2017. Sunway Construction Group Bhd (SunCon), Ekovest Bhd, Gadang Holdings Bhd, Econpile Holdings Bhd and George Kent (M) Bhd hit new highs or hovered near record prices at the end of trading. Meanwhile, CIMB Research said the compiled value of construction jobs highlighted in Budget 2017 totalled RM99bil. “Of the RM99bil compiled value of jobs, we estimate that 45% of the total value would directly benefit smaller contractors. Gamuda Bhd remained its top big-cap pick for exposure to rail jobs.

Source: The Star October 24, 2016 22:52 UTC