Published on: Saturday, May 22, 2021
By: Bernama
Text Size:
Construction workers walk across a platform at a building site in Kuala Lumpur. (Image: Malay Mail)
Kuala Lumpur: AmInvestment Bank remains cautious on the local construction sector’s outlook, given the elevated national debt which has been further weighed down by the economic impact of the Covid-19 pandemic.
The recent news on the MRT3 potentially commencing work in the second half of the year aside, the fact remains that the government will have very limited room for fiscal manoeuvre due to the massive relief spending to cushion the economic impact of the pandemic, it said in a research note Friday.
Econpile receives RM64 35mil construction job
thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
Carlsberg Brewery, DNeX, Sarawak Consolidated, Econpile, Green Packet, GHL, Media Prima, AirAsia Group, Cycle & Carriage and Minetech Resources
theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR: AmInvestment Bank Research has cut its earnings forecasts for Econpile Holdings Bhd on its belief that the government is unlikely to roll out new major public infrastructure projects over the short-term. We maintain our view that the government will have very limited room for fiscal manoeuvre in 2021 given the elevated national debt, even before the pandemic. The government’s fiscal position has been weighed down further by the economic impact of the pandemic (including reduced tax and petroleum revenues), as well as the massive relief spending to cushion the economic impact of the pandemic, it said in a note.
Econpile raises RM41 2mil in a private placement
thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.