Heavy sell-off in construction stocks

May 14, 2018 3:31 AM

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PETALING JAYA: The construction stocks saw heavy selling pressure this morning on concerns over the review of the mega projects in Malaysia.

At 11am, the construction index tumbled 32.72 points or 11.64% to 248.41 points against the gain of 4.52 points or 0.24% for the FBM KLCI index.

Among the top losers in the construction sector are George Kent (M) Bhd, Gamuda Bhd, WCT Holdings Bhd and IJM Corp Bhd, which went down RM1.18 (29.95%), 83 sen (16.28%), 32.5 sen (25.39%) and 32 sen (12.08%) to RM2.76, RM4.27, 95.5 sen or RM2.33, respectively.

Prime Minister Tun Mahathir Mohamad vowed to review all foreign contracts and projects to safeguard the interest of the country.

Source: thesundaily.my

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