05 May 2012
Tasek Corp: Week 18 (30 April-4 May) Stock Picks Commentary
Stock Picks #4
Tasek Corporation Berhad (TASEK)
Week high : RM 8.98 (Up 31 sen – 3.6%)
On 1 May, Tasek Corp’s CEO Thing Sii Tien @ Yao Sik Tien mentioned that he expects decline in cement demand from private sector jobs this year to be compensated by Government mega projects.
Some of the more prominent Government mega projects include the RM30 billion Mass Rapid Transit (MRT), Iskandar development region in Johor, the Northern Corridor Economic Region, and also the East Coast Economic Region.
Market reacted positively on potential earnings boost from Government mega project to Tasek Corp, the fourth largest cement company in Malaysia with a 10% market share.
TASEK stock rose 3.6% (31 sen) since 1 May to week’s highest RM 8.98 on 4 May and closed at RM 8.90 at the end of this week.