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Construction stocks flat after ECRL launch, but Ann Joo runs up

Mimi Sabreena 12:08:00 PM Informasi

KUALA LUMPUR (Aug 10): The ground-breaking ceremony of the East Coast Rail Line (ECRL) yesterday failed to lift construction stocks this morning, despite the sector being touted as the biggest beneficiary of the ECRL in the near- to medium-term.

Although China Communications Construction Company (CCCC) is the main contractor for the ECRL project, the minimum 30% of contract value or RM16 billion to be awarded to Malaysian contractors, is still sizable, CIMB Research said in a report today.

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