OVERWEIGHT
The 10th Sarawak state election is slated to be held this year. In this report, we study the share price performance of 5 Sarawak-based contractors during the 2006 election. We found that their share prices did indeed outperform 6M and 3M before the polls but underperformed 3M after election. Investors can consider riding on this election play but we advise that they lock in gains on Nomination Day, which is usually 1-2 weeks before the actual polls. We have a BUY rating on Naim, HSL and KKB while CMS and Zecon are NOT RATED.
The 10th Sarawak state election is slated to be held this year. In this report, we study the share price performance of 5 Sarawak-based contractors during the 2006 election. We found that their share prices did indeed outperform 6M and 3M before the polls but underperformed 3M after election. Investors can consider riding on this election play but we advise that they lock in gains on Nomination Day, which is usually 1-2 weeks before the actual polls. We have a BUY rating on Naim, HSL and KKB while CMS and Zecon are NOT RATED.
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