How far Dubai World jittery shall affect Malaysia construction companies and banks? So far the "underplay' news titles are something like these:
Kuala Lumpur Composite Index went down 0.11% (11.5 pt) yesterday and that without any contribution from construction counters. Note that not even one single construction stock constitutes FBM KLCI, otherwise we would have seen worst yesterday. And yesterday, FTSE Construction Index went down 2.25%. Expert more of 'Dubai jittery' to reach FBM KLCI.
How far Dubai World jittery shall affect Malaysia construction companies and banks? So far the "underplay' news titles are something like these:
"Malaysian construction companies are not likely to be hit by the debt crisis affecting Dubai, said industry players"
"Malaysian construction companies are not likely to be hit by the debt crisis affecting Dubai, said industry players"
"Malaysia banks have 'limited Dubai exposure'"
Master Builders Association Malaysia (MBAM) president Ng Kee Leen said most of the Malaysian construction companies had either pulled out or were at the tail-end of completing their contruction projects there.watch on youtube Keiser on Dubai 'Tsunami alert'
“There aren’t many local construction companies left in Dubai,” he told
read full news here
IJM is not affected. We don’t have much there (construction projects in Dubai). We’re almost done with the construction of Fortune Tower at Jumeirah Lake in Dubai,” he said, adding that currently there was no problem with payments.
GAMUDA: "company was not significantly exposed to the fallout in the construction sector in Dubai.
LCL Corp Bhd (7.5% fall): "payments were generally slow in Dubai"
WCT, which lost a US$1.3 billion contract to build a horse-racing track in Dubai earlier this year, was down 4.8 per cent at RM2.40.
UEMLAND (7.4% fall): The Malaysian state of Johor said its economic zone, which has the nation's largest number of Middle Eastern investors, should be unscathed by the Dubai debt crisis
They already saw thatcoming in April
