Ho Hup Construction Company Bhd (-ve)

Ho Hup Construction Company Bhd (fundamental: 0.40/3, valuation 1.50/3) made it into our Stocks with Momentum list yesterday for the eighth time this year.

The stock closed six sen or 10.26% higher at 64.5 sen yesterday, after some 15.09 million shares were done.

In its 2018 annual report released on April 30, Ho Hup said it is positive about the construction and building materials  sector, following the government’s decision to restart some mega infrastructure projects after reviewing their feasibility.

“We believe that project flows (expected in second half of 2019) would give a boost to the contract pipeline in both sectors, especially the improved deal of East Coast Rail Link, the resumption of work on Light Rail Transit 3, the retendering of Klang Valley Double Track works, public hospital works, Putrajaya Monorail, full roll-out of Pan Borneo Highway and potential infrastructure spending by the Sarawak government,” it added.