CGS-CIMB expects sector-wide share price performance to remain weak in the medium term due to the MCO-led overhangs and the ongoing national recovery programme.
KUALA LUMPUR: The anticipation of a recovery in the construction sector for the second half of this year has been dragged down by phase one of the National Recovery Plan (NRP) as well as the delay in the rollout of new mega contracts including the Mass Rapid Transit 3 (MRT 3).
Following the issuance of a stop work order on all construction works in Selangor and Kuala Lumpur last week, contractors are expected to face immediate earnings risks from the negative impact on progress billings.
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