KUALA LUMPUR: CIMB Equities Research believes larger capitalised defensive stocks can provide investors a margin of safety but it is still the smaller caps where investors will drive alpha.
In its strategy report issued on Wednesday, it said for the larger-cap stocks, it likes Gamuda, IJM Corp and YTL Corp for exposure to the construction and infrastructure sector as well as Petronas Gas and Tenaga for the relative safety of the utilities sector.
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