Friday 29 Mar 2024
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KUALA LUMPUR (Sept 22): MIDF Research had upgraded Sunway Construction Group Bhd (SCGB) to “Buy” with a higher target price of RM1.32 (from RM1.14) and said that in the National Budget 2016, transport infrastructure and transit system will be given added emphasis particularly Bus Rapid Transit (BRT) development.

In a note today, the research house said SCGB is among the potential beneficiaries and arguably a frontrunner for upcoming BRT projects

“Their growing enterprise capabilities such turnkey design and build as could also result in more awards for construction projects such as buildings or mixed development

“Overall, we upgrade our recommendation to Buy with a revised target price of RM1.32 per share,” it said.

 

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