PETALING JAYA: The transportation sector is expected to post a broad recovery in 2021, lifted by Covid-19 movement restrictions easing with vaccines starting to be deployed globally, said RHB Research.
The research unit, which has a “neutral” rating on the sector, pointed out that the third quarter of 2020 saw mixed financial results, with Westports Holdings Bhd
and Freight Management Holdings Bhd booking better-than-expected earnings while Malaysia Airports Holdings Bhd (MAHB) and Pos Malaysia Bhd had results that were below expectations.
Westports
RHB Research said Westports’ third quarter results were mainly due to a stronger-than-expected container volume rebound during the quarter (29% jump quarter-on-quarter) on pent-up demand.
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