After rising 36.1% since its IPO on July 10, Malaysian pilling works and turnkey construction firm Advancecon could still see more upside, says Public Investment Bank. Riding on a gradual uptrend, it says the gains in prices and volumes at Advancecon are interpreted as a positive sign. The stock climbs 1.7% to MYR1.17 Tuesday morning, trying to challenge its all time high of MYR1.20, hit on July 25. Public Investment Bank says technical indicators currently signal a reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term. It says should resistance level of MYR1.17 be firmly broken, it may continue to lift prices higher to the next resistance level of MYR1.27. (yantoultra.ngui@wsj.com; @yantoultra)
CONSTRUCTION players planning for the start of big-ticket jobs finally got the news they were waiting for. The large construction jobs valued at more than RM150bil will be dished out next year.
The RM55bil East Coast Rail Link (ECRL) will kick off in January, while the construction of the MRT3 or the circle line will be expedited to be completed by 2025, earlier than the initial target of 2027.
The next few years look promising for :
1) Gamuda Bhd.
2) George Kent (M) Bhd.
3) WCT Holdings Bhd.
4) Gabungan AQRS Bhd.
5) Mudajaya Bhd.
6) Sunway Construction Bhd.
7) Fajarbaru Builder Group Bhd.
8) TRC Synergy Bhd.
In order to ensure a balanced economic spillover between urban and rural areas, the Government will improve logistics and transport infrastructure through the ECRL project which connects Port Klang to Pengkalan Kubor in Kelantan, which has the capacity to transport cargo and passengers in four hours. For now, more than 1,000 firms are competing for civil work packages for the construction of the new 688km rail line that will link states on the east coast to the Klang Valley.
Meanwhile, the MRT2 Line from Sungai Buloh–Serdang–Putrajaya, spanning 52km and covering 37 stations with an estimated construction cost of RM32bil, will go on. It is estimated to be completed by 2022.
A sum of RM110mil has also been allocated to provide an alternative road to Port Klang to smoothen and complement the transportation network.
Furthermore, the construction of the LRT3 project, which will connect Bandar Utama to Johan Setia, Klang, is expected to be completed by February 2021.
Another construction commitment is the high-speed rail project, which will connect Kuala Lumpur to Singapore in a distance of 350km in 90 minutes to be completed by 2026.
The West Coast Highway from Banting, Selangor, to Taiping, Perak is under construction at an estimated cost of RM5bil.
As for the Central Spine Road, RM230mil has been allocated to continue the construction of the road from Raub to Bentong and Gua Musang, Kelantan, to Kampung Relong, Pahang.
Beware coming qtr results. Better results will not guarantee a breakout as i said boss hold too much shares. A lower than expected results will send this stock back to 1.0
Hahaha....hopefully. but u see d volume is not too high despite price drop lots. I think someone is pushing d price down for collection before qr release.
Unless the qtr results is superb , otherwise this stock is NOT gonna has a successful breakout. From what i see is the syndicate has no intention of breakout in the first place, just testing only. We never know how long to wait until syndicate decide the right timing. So dont rush in to buy now, should wait for lower price, if dont want get trapped for unknown period of time
The management of Advacecon will not be silly to sabotage its hard owned established company for 30 years. ESOS is as an incentive and award to the company's workers effort. And they must had known its growth potential, or else it wouldnt have issued ESOS to the workers and management
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3068 views | 2 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
optimus9199
2,794 posts
Posted by optimus9199 > 2017-10-04 17:11 | Report Abuse
wow dapat RM 32.6 mil project for earthworks project