HSS Engineers’ post-GE14 selldown overdone
Stephanie Jacob | 03 Aug 2018 00:30
It has been a challenging six months for HSS Engineers Bhd. The year started positively and its share price more or less held steady above the RM1.30 mark.
That quickly changed following the 14th General Election and when the markets opened again on May 14, HSS fell to RM1.17 from RM1.43 on May 8. Two days later, it fell below the RM1 mark and has remained a penny stock since then.
Prior to GE14, the engineering consultancy firm was attractive because of its exposure to mega projects such as the KL-Singapore High Speed Rail (HSR), East Coast Rail Line (ECRL) and Mass Rapid Transit (MRT) 3.
The change of government came with the promise to review all mega projects, primarily those being undertaken with assistance from other countries. The cancellation or indefinite delay of these projects have soured investors’ appetite for the counter.
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