PETALING JAYA: Budget 2024 lacks catalysts for the construction sector, according to analysts, as the fiscal deficit-minded government refrained from announcing any new mega infrastructure project.
The budget’s silence on the third line of the Mass Rapid Transit 3 (MRT3) and the Kuala Lumpur–Singapore High Speed Rail was also disappointing, as the market had been awaiting details on project implementation and contract flows.
This, however, is unlikely to derail the “mini-rally” of construction stocks this year, analysts said, considering resilient domestic demand and the easing of political uncertainties.
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