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.
0 comments:
Post a Comment