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Malaysia Builder Rally Hots Up as Pump-Priming Signs Appear Bloomberg 1 hr ago Chan Tien Hin
(Bloomberg) A rally in Malaysian builders is gathering pace in the wake of more contract wins and a revival in mega infrastructure projects in the country.
Kerjaya Prospek Group Bhd., one of Malaysia’s biggest contractors, said Friday it won its first job of 2021, sending its shares to a 20-month high this week. TCS Group Holdings Bhd. said that same day it secured its maiden infrastructure job linked to an expressway project. A gauge of 51 builders is up 16% from a Feb. 3 low, trouncing the FTSE Bursa Malaysia KLCI Index.
Malaysia Builder Rally Hots Up as Pump-Priming Signs Appear msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
THE termination of the Kuala Lumpur-Singapore high-speed rail (HSR) project is a setback for the property developments that had hoped to tap the potential of the mega transport endeavour.
While there has been talk of having a domestic HSR from KL to Johor Baru, there is no certainty as to whether it will materialise in the near term. Thus, the gestation period for Bandar Malaysia the HSR terminus in KL and Vision Valley 2.0 projects could take longer than planned.
However, a corporate observer familiar with the Bandar Malaysia development is unfazed by the possible delay as a result of the termination. “This project is not going to happen in five years. So, what is the difference if it is extended by another five years? After all it is a 20- to 30-year project,” she tells The Edge.