Construction sector downgraded, lower margins seen
AmBank Research has also downgraded the construction sector to underweight from neutral.
PETALING JAYA: Lower-than-anticipated margins will become the new normal for contractors as they compete for new projects in the near term, due to more prudent spending by the government, said UOB Kay Hian Research.
The research house, which downgraded the sector to underweight, said margins were now expected in the range of 5%-6% compared to 8%-10% previously.
AmBank Research has also downgraded the sector to underweight from neutral.
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