Highlights of the day
§ Construction (Sector Update): More awards yet to come (Upgrade from NEUTRAL to OVERWEIGHT) [download report]
After the initial awards of V5 and V6, MRT Co’s release of the schedule for the remaining packages last weekend shows that the next awards will start from April 2012 and will be concentrated in the April-September 2012 window. We believe there is thus still time for rotational play on 15 listed counters out of the 28 contractors prequalified. Our analysis of the contractors for the 18 elevated civil packages picks out 8 construction counters, which we opine are potential recipients of the remaining 16 packages to be awarded in CY12. Upgrade Construction Sector from NEUTRAL to OVERWEIGHT.
Other reports
§ Newz Bits [download report]
Other Malaysian news
§ CIMB: US-based asset manager to take control of CapAsia
§ AirAsia: AirAsia X in trouble again in Australia
§ MAS: Unions meet PM today
§ Proton: Denies plans to ditch Lotus
§ HSL: Received RM82m construction contract
§ Construction: SPAD performance monitoring hub project attracts 24 bids
§ Investment: PNB selling MNRB?
§ IPO: RM21bn market cap for Felda Global
§ Oil & Gas: Petronas discovers gas in two fields offshore Sarawak
§ Property: Brunsfield joins IWH to develop Johor project
Global news
§ US: Obama unveils big spending in election-year budget
§ US
§ Europe: Italy , Spain , Portugal ratings cut by Moody’s; UK
§ Japan
§ Australia
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