Change in US chip export rule may benefit Malaysian construction, utility sectors — Kenanga IB
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Kenanga Investment Bank Bhd reports that changes in US export rules on AI chips may positively impact Malaysia's construction and utility sectors. The potential rescind of Biden-era restrictions is expected to enhance the valuation of Malaysian construction stocks, with significant developments like Pearl Computing's acquisition of land for data centers. The utility sector, particularly Tenaga Nasional Bhd, is also poised for growth, with numerous data center projects underway, indicating strong demand and future expansion.
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