Friday, March 25, 2011


Construction: DBSV has a Comprehensive construction sector report. Note that Construction demand forecast for 2011 revised up, and Civil engineering works will be main driver in 2011 while private residential demand will slow down. Note that rising raw material prices and higherwages/ levies will be the key risks, but can be managed…

House Top picks are Tiong Seng ($0.31 TP), Yongnam ($0.37 TP) and Pan United ($0.62 TP); downgrade OKP ($0.63 TP) to HOLD on lower growth expectations; avoid Tat Hong ($0.83 TP)

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