Muhibbah

Muhibbah will benefit from the ramp-up in construction of projects such as the Klang Valley ’s Mass Rapid Transit system, as well as a slew of property developments on privatised state-owned land, such as the 3,300 acre Rubber Research Institute (RRI) land in Sungai Buloh. The focus on the oil and gas (O&G) sector will serve it well as the government allocates more spending under the Economic Transformation Programme (ETP), and with national oil giant Petroliam Nasional Bhd (Petronas) planning to spend RM250 billion in capital expenditure over the next five years. Meanwhile, a likely resolution of longstanding issues surrounding the APH project in Johor, for which Muhibbah has been owed some RM340 million since mid-2009 for works completed but not paid for, could also lift sentiment on the stock. The sums owed are listed as receivables and have not been written down.