KUALA LUMPUR, March 14 (Bernama) -- RHB Research Institute has a positive outlook on Muhibbah Engineering (M) Bhd, as its airport business is still intact.
The research firm said Muhibbah's airport business in Cambodia, would flourish as it has become a tourism hub in ASEAN, due to its rich cultural heritage, as well as booming leisure and gaming industry.
"Concerns over the potential loss of Muhibbah's airport management business there are overdone, as it would receive compensation if concessions are ended prematurely.
"Furthermore, the growing market may mean that more new airports could be built to fulfill demand," it said in a note today.
Muhibbah's current orderbook, said RHB Research, was still huge at RM2.1 billion, with more replenishment expected in FY18.....