PETALING JAYA: Shares of Muhibbah Engineering Bhd have been taking a beating this year, plunging 28% since Jan 22 on concerns over Cambodian airport concessions.
The stock hit a three-year low of RM1.59 on Feb 4, with CGS-CIMB claiming that it was “taken aback” by the share price dip.
“Our channel checks revealed that investors’ concerns over competition risks facing its 21%-owned airports in Phnom Penh and Siem Reap have elevated given recent news that the construction of new international airports in both areas will proceed.
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