We expect construction job awards to gain momentum in 2H17, after a lull period in 1H17 due to seasonal factors. In the near-term, key events to lookout for include: a) awards for the RM9b LRT3, b) groundbreaking of the RM55b ECRL, and c) tabling of the pre-election Budget 2018 in October. We prefer infrastructure construction beneficiaries, including Ekovest, Gamuda and IJM Corporation. We also downgraded Kerjaya Prospek post the share-price rally. Maintain OVERWEIGHT.

Source: UOB Kay Hian Research - 25 Jul 2017