CIMB Equities Research is maintaining its overweight stance on the construction sector as it sees 2008 as the start of the implementation of the Ninth Malaysian Plan after the award of some RM22 billion worth of projects in 2007. It anticipated construction activities to pick up at a growth rate of 6%, which is the highest since 1997. It believed local demand for building materials would also enjoy strong growth. “We estimate 6% growth for long steel products in 2008, and about 5% growth for cement demand,” it said.
(9-1-2008 The Edge)
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