After budget 2025 had been tabled during last Friday, KLCI suffered from some profit taking activities today, closing red around the 1645 points region with an overall negative market sentiment as we saw almost 650 counters closing red for the day. Daily trading volume remains around the 3 billion mark, which is average.
Main stocks that showed strong buying momentum would be the likes of KHB, NE, SCABLE, CREST, JCY, NICE, PERTAMA, GENETEC, BAHVEST, ...

Large-scale infrastructure projects are gathering momentum, with annual construction contracts expected to reach 50 billion.
(Kuala Lumpur, 3rd news) With the upcoming 2025 budget and the final countdown phase of the Johor Special Economic Zone (JSSEZ), analysts expect this to boost the construction sector, while also anticipating more large-scale public infrastructure projects to be unveiled in the last quarter.
Analysts at Fenglong Investment Bank pointed out in a report today that the total domestic construction contracts in the third quarter of 2024 reached a level of 11.2 billion ringgit, an increase of 2.90 times year-on-year, but a 19% decrease month-on-month.
For the first 9 months, domestic contracts awarded amounted to 31.9 billion ringgit.
Currently, key infrastructure projects awaiting delivery include the second phase of the Sarawak-Sabah Link Road (SSLR 2), the Kuching Urban Transportation System (KUTS), the first phase B of the Sabah Pan-Borneo Highway (PBH SABAH 1B), and flood control projects.
Analysts suggest that, based on current observations, the mentioned projects are also expected to continue awarding contracts in the coming quarter.
That being said, it is evident that contracts related to data center projects have seen a significant decline, dropping from 4.40 billion in the second quarter to 0.9 billion9 million in the third quarter.
Analysts also point out that there has been a slight decline in commercial or residential project contracts on a quarter-on-quarter basis. However, this was expected, mainly due to the faster contract pace in the second quarter.
Nevertheless, we still believe that, according to the compilation data of Fenglong Investment Bank, the construction contract value in 2024 can easily exceed 4...