"The fact that the group is diversifying away from Malaysia into growth countries is viewed positively, " notes Steven Tan, an analyst with CIMB-GK Research.
"Construction starts may have been up last year, but I expect that to fall around 10% this year because of the central government's lowered target for public-housing starts and diminished investment from private-property developers, " said Johnson Hu, a CIMB-GK Securities analyst.