Forwarded from Trade With Maybank
Bursa Malaysia Midday Recap: Economic Data Support
The FBM KLCI continued to downtrend after an initial positive move. The main index was dragged by weakness seen in GAMUDA & TENAGA. Bargain hunting within the broader market emerged today as gainers more than doubled from the mere 147 seen yesterday. The tech sector index outperformed, led by a rebound in semicon counters. Energy counters on the other hand also rebounded with some potential aid from the higher crude oil prices (Brent crude oil: $82/bbl).
In an interesting report posted this morning, our analysts highlighted that history tells us that Malaysian tourism industry upcycles begin not during Visit Malaysia Years but the years preceding them. Funded with a record tourism promotion budget and barring major incidents, our analysts see GENM (12m Target price: MYR 2.73), PAVREIT (12m Target price: MYR 1.72) and AAX (12m Target price: MYR 2.69) as potential beneficiaries.
Trade Your Way Forward. Simple, Smart and Seamlessly
#Middayrecap
The FBM KLCI continued to downtrend after an initial positive move. The main index was dragged by weakness seen in GAMUDA & TENAGA. Bargain hunting within the broader market emerged today as gainers more than doubled from the mere 147 seen yesterday. The tech sector index outperformed, led by a rebound in semicon counters. Energy counters on the other hand also rebounded with some potential aid from the higher crude oil prices (Brent crude oil: $82/bbl).
In an interesting report posted this morning, our analysts highlighted that history tells us that Malaysian tourism industry upcycles begin not during Visit Malaysia Years but the years preceding them. Funded with a record tourism promotion budget and barring major incidents, our analysts see GENM (12m Target price: MYR 2.73), PAVREIT (12m Target price: MYR 1.72) and AAX (12m Target price: MYR 2.69) as potential beneficiaries.
Trade Your Way Forward. Simple, Smart and Seamlessly
#Middayrecap
Forwarded from M+ On-The-Go
M+ Morning Market Buzz - 17Jan25
Dow Jones: 43,153.13 pts (-68.42pts, -0.16%)
⬆️ Resistance: 44200
⬇️ Support: 41100
FBM KLCI: 1,555.54 pts (-6.58pts, -0.42%)
⬆️ Resistance: 1640
⬇️ Support: 1530
HSI Index: 19,522.89 pts (+236.82pts, +1.23%)
⬆️ Resistance: 20100
⬇️ Support: 18300
Crude Palm Oil: RM4,186 (-RM78, -1.86%)
⬆️ Resistance: 4640
⬇️ Support: 4090
Brent Oil: $82.03 (-$0.68, -0.83%)
⬆️ Resistance: 84.30
⬇️ Support: 75.50
Gold: $2,714.31 (-$0.24, -0.01%)
⬆️ Resistance: 2780
⬇️ Support: 2610
Source: Bloomberg, M+
Dow Jones: 43,153.13 pts (-68.42pts, -0.16%)
⬆️ Resistance: 44200
⬇️ Support: 41100
FBM KLCI: 1,555.54 pts (-6.58pts, -0.42%)
⬆️ Resistance: 1640
⬇️ Support: 1530
HSI Index: 19,522.89 pts (+236.82pts, +1.23%)
⬆️ Resistance: 20100
⬇️ Support: 18300
Crude Palm Oil: RM4,186 (-RM78, -1.86%)
⬆️ Resistance: 4640
⬇️ Support: 4090
Brent Oil: $82.03 (-$0.68, -0.83%)
⬆️ Resistance: 84.30
⬇️ Support: 75.50
Gold: $2,714.31 (-$0.24, -0.01%)
⬆️ Resistance: 2780
⬇️ Support: 2610
Source: Bloomberg, M+
Forwarded from M+ On-The-Go
M+ Market Update – 17Jan25
Stocks Approaching Oversold Levels
The local bourse closed lower, dragged down by a continuous sell-off in Construction and Utilities heavyweights. In the US, higher-than-expected unemployment claims, coupled with softer-than-anticipated retail and core retail sales, spooked the market and contributed to the selling pressure on Wall Street. Traders will be monitoring the key Chinese economic data including GDP, industrial production, and retail sales, that will be released later today. In the commodities market, Brent crude is hovering above USD81 per barrel, while gold prices traded positively above USD2700. CPO prices continue to decline near the RM4100 level despite the new Indonesia export policies.
Sector Focus: Despite the negative US overnight performance, we believe the bargain hunting activities could emerge as stocks have been beaten down to oversold levels. Besides, we see trading opportunities in the Energy sector, which could benefit from the spike in Brent crude oil. Technology stocks may also attract interest given the elevated USD environment. Meanwhile, there could be a shift from data center theme to state-specific trading catalyst after the recent selldown, where the Penang LRT development and JSSEZ may boost the Construction and Property sectors in the near to mid-term.
Stocks to watch:
Technology: *MI*, *RAMSSOL*, SMRT
O&G: *ARMADA*, *KEYFIELD*
Source: M+
Stocks Approaching Oversold Levels
The local bourse closed lower, dragged down by a continuous sell-off in Construction and Utilities heavyweights. In the US, higher-than-expected unemployment claims, coupled with softer-than-anticipated retail and core retail sales, spooked the market and contributed to the selling pressure on Wall Street. Traders will be monitoring the key Chinese economic data including GDP, industrial production, and retail sales, that will be released later today. In the commodities market, Brent crude is hovering above USD81 per barrel, while gold prices traded positively above USD2700. CPO prices continue to decline near the RM4100 level despite the new Indonesia export policies.
Sector Focus: Despite the negative US overnight performance, we believe the bargain hunting activities could emerge as stocks have been beaten down to oversold levels. Besides, we see trading opportunities in the Energy sector, which could benefit from the spike in Brent crude oil. Technology stocks may also attract interest given the elevated USD environment. Meanwhile, there could be a shift from data center theme to state-specific trading catalyst after the recent selldown, where the Penang LRT development and JSSEZ may boost the Construction and Property sectors in the near to mid-term.
Stocks to watch:
Technology: *MI*, *RAMSSOL*, SMRT
O&G: *ARMADA*, *KEYFIELD*
Source: M+
Forwarded from Trade With Maybank
Extended Declines for YTL and YTL Power
Yesterday, YTL Corporation (YTL) and YTL Power International (YTLPOWR) registered a decline of 11.4% and 9.5% respectively in the past 5 trading days.
YTD, YTL and YTLPOWR recorded a negative performance of 17.7% and 13.4% respectively.
As reported by The Edge yesterday, the US export restrictions on artificial intelligence (AI) chips are impacting data-centre proxy.
Investors seeking to hedge on the downside of YTL and YTLPOWR may consider Put Warrants such as YTL-HF and YTLPOWR-HG.
Maybank IB is the only YTL and YTLPOWR Put Warrants issuer in the market.
#DailyHighlights
Yesterday, YTL Corporation (YTL) and YTL Power International (YTLPOWR) registered a decline of 11.4% and 9.5% respectively in the past 5 trading days.
YTD, YTL and YTLPOWR recorded a negative performance of 17.7% and 13.4% respectively.
As reported by The Edge yesterday, the US export restrictions on artificial intelligence (AI) chips are impacting data-centre proxy.
Investors seeking to hedge on the downside of YTL and YTLPOWR may consider Put Warrants such as YTL-HF and YTLPOWR-HG.
Maybank IB is the only YTL and YTLPOWR Put Warrants issuer in the market.
#DailyHighlights
Forwarded from Trade With Maybank
Bursa Malaysia Midday Recap: A Recovery in the Works?
The FBM KLCI reversed its early morning losses to trade back in the green today, the main index was somewhat carried by TENAGA’s 3.3% gain. Broad market sentiment showed somewhat of a similar pattern with some sectors trading in the red before recovering. While the construction sector continues to show weakness, outliers like MNHLDG has rebounded +4% today, off 5-days of selling. On Tech, semicon counters continue to lead.
Trump’s inauguration is set to happen next week, for investors who are expecting some volatility and are looking for slightly more defensive stocks may want to consider banking, REIT and healthcare picks. AMBANK (Target Price: MYR6.30; CY25E Dividend Yield: 5.6%), PAVREIT (Target Price: MYR1.72; FY25E DPU Yield: 5.8%) and IHH (Target Price: MYR 7.97) are among some of our analysts picks from these sectors.
Trade Your Way Forward. Simple, Smart and Seamlessly
#Middayrecap
The FBM KLCI reversed its early morning losses to trade back in the green today, the main index was somewhat carried by TENAGA’s 3.3% gain. Broad market sentiment showed somewhat of a similar pattern with some sectors trading in the red before recovering. While the construction sector continues to show weakness, outliers like MNHLDG has rebounded +4% today, off 5-days of selling. On Tech, semicon counters continue to lead.
Trump’s inauguration is set to happen next week, for investors who are expecting some volatility and are looking for slightly more defensive stocks may want to consider banking, REIT and healthcare picks. AMBANK (Target Price: MYR6.30; CY25E Dividend Yield: 5.6%), PAVREIT (Target Price: MYR1.72; FY25E DPU Yield: 5.8%) and IHH (Target Price: MYR 7.97) are among some of our analysts picks from these sectors.
Trade Your Way Forward. Simple, Smart and Seamlessly
#Middayrecap
Salam you All !!!
.
Topic untuk minggu Ketiga pada bulan jannuary 2025
.
.
*21/1 - KESAN KENAIKAN OPR ATAU INTEREST RATE BY FED BAGI PELABUR (8.30PM - 10.00PM)
*22/1 - PLATFORM M+ GLOBAL (8.30PM - 10.00PM)
*23/1 - LIVE TRADE (DZUL) (10.30AM - 12.30PM)
*23/1 - CARA MEMBACA MARKET DEPTH CHART SAHAM (8.30PM - 10.00PM)
Noted:
sekiranya ingin datang kelas secara online dan fizikal perlu daftar 2 kali
.
Masuk percuma! Tempat terhad untuk 20 orang sahaja ya.
.
Alamat Pejabat:
Mplus Wangsa Maju ( MWM )
No 76-1 Jalan Wangsa Delima 6,
Pusat Bandar Wangsa Maju (KLSC)
Setapak 53300 Kuala Lumpur
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Google map https://goo.gl/maps/57uJhiCqREDi66Q37
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Pendaftaran boleh tekan link ini https://forms.gle/AJeFkk3bvEi5eNhZ7
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Berminat untuk buka account CDS boleh call Admin
03-4144 2565
.
.
Follow & Subscibe our Channel
Youtube - www.youtube.com/@MWMGrp
Telegram - t.me/mpluswm
.
Topic untuk minggu Ketiga pada bulan jannuary 2025
.
.
*21/1 - KESAN KENAIKAN OPR ATAU INTEREST RATE BY FED BAGI PELABUR (8.30PM - 10.00PM)
*22/1 - PLATFORM M+ GLOBAL (8.30PM - 10.00PM)
*23/1 - LIVE TRADE (DZUL) (10.30AM - 12.30PM)
*23/1 - CARA MEMBACA MARKET DEPTH CHART SAHAM (8.30PM - 10.00PM)
Noted:
sekiranya ingin datang kelas secara online dan fizikal perlu daftar 2 kali
.
Masuk percuma! Tempat terhad untuk 20 orang sahaja ya.
.
Alamat Pejabat:
Mplus Wangsa Maju ( MWM )
No 76-1 Jalan Wangsa Delima 6,
Pusat Bandar Wangsa Maju (KLSC)
Setapak 53300 Kuala Lumpur
.
Google map https://goo.gl/maps/57uJhiCqREDi66Q37
.
.
Pendaftaran boleh tekan link ini https://forms.gle/AJeFkk3bvEi5eNhZ7
.
.
Berminat untuk buka account CDS boleh call Admin
03-4144 2565
.
.
Follow & Subscibe our Channel
Youtube - www.youtube.com/@MWMGrp
Telegram - t.me/mpluswm
MPlus Wangsa Maju · 76-1, Jalan Wangsa Delima 6 Wangsa Maju, Au 1, 53300, Wilayah Persekutuan Kuala Lumpur, Malaysia
★★★☆☆ · Stock broker
Forwarded from M+ On-The-Go
M+ Morning Market Buzz - 20Jan25
Dow Jones: 43,487.83 pts (+334.70pts, +0.78%)
⬆️ Resistance: 44600
⬇️ Support: 41100
FBM KLCI: 1,566.72 pts (+11.18pts, +0.72%)
⬆️ Resistance: 1640
⬇️ Support: 1520
HSI Index: 19,584.06 pts (+61.17pts, +0.31%)
⬆️ Resistance: 20100
⬇️ Support: 18300
Crude Palm Oil: RM4,190 (+RM4, +0.10%)
⬆️ Resistance: 4640
⬇️ Support: 4030
Brent Oil: $80.79 (+$0.17, +0.21%)
⬆️ Resistance: 84.30
⬇️ Support: 78.10
Gold: $2,703.25 (-$5.80, -0.21%)
⬆️ Resistance: 2780
⬇️ Support: 2610
Source: Bloomberg, M+
Dow Jones: 43,487.83 pts (+334.70pts, +0.78%)
⬆️ Resistance: 44600
⬇️ Support: 41100
FBM KLCI: 1,566.72 pts (+11.18pts, +0.72%)
⬆️ Resistance: 1640
⬇️ Support: 1520
HSI Index: 19,584.06 pts (+61.17pts, +0.31%)
⬆️ Resistance: 20100
⬇️ Support: 18300
Crude Palm Oil: RM4,190 (+RM4, +0.10%)
⬆️ Resistance: 4640
⬇️ Support: 4030
Brent Oil: $80.79 (+$0.17, +0.21%)
⬆️ Resistance: 84.30
⬇️ Support: 78.10
Gold: $2,703.25 (-$5.80, -0.21%)
⬆️ Resistance: 2780
⬇️ Support: 2610
Source: Bloomberg, M+
Forwarded from M+ On-The-Go
M+ Market Update – 20Jan25
Market Rebounded After Hitting Oversold Zone
The local bourse closed higher, led by the Utilities and Banking heavyweights. In the US, softer-than-expected inflationary data, coupled with stronger earnings from major banks had contributed to the buying interest on Wall Street. Meanwhile, all eyes will be focusing on President Trump’s inauguration speech later today. In the commodities market, Brent crude oil experienced a marginal pullback below the USD81 level, while gold price is hovering above USD2,700. In anticipation of Trump’s supportive stance towards cryptocurrency, Bitcoin continued to stay elevated above the USD100k mark, while CPO prices rebounded slightly to close at RM4,190.
Sector Focus: As Malaysia is heading the ASEAN chair this year, we are optimistic on the Renewable Energy and Tourism sectors. With Trump’s inauguration, the anticipated intensified US-China trade war could benefit the Technology sector. Lastly, state-specific theme plays like Penang LRT development, Sarawak as a regional energy hub and also formalisation of JS-SEZ may boost the Construction and Property sectors in the near to mid-term.
Stocks to watch:
Technology: ADB, EG, *FRONTKN*, *ITMAX*, *RAMSSOL*
Renewable: PEKAT, SLVEST
O&G: *ARMADA*
Construction: *SENDAI*
Consumer: GCB
Source: M+
Market Rebounded After Hitting Oversold Zone
The local bourse closed higher, led by the Utilities and Banking heavyweights. In the US, softer-than-expected inflationary data, coupled with stronger earnings from major banks had contributed to the buying interest on Wall Street. Meanwhile, all eyes will be focusing on President Trump’s inauguration speech later today. In the commodities market, Brent crude oil experienced a marginal pullback below the USD81 level, while gold price is hovering above USD2,700. In anticipation of Trump’s supportive stance towards cryptocurrency, Bitcoin continued to stay elevated above the USD100k mark, while CPO prices rebounded slightly to close at RM4,190.
Sector Focus: As Malaysia is heading the ASEAN chair this year, we are optimistic on the Renewable Energy and Tourism sectors. With Trump’s inauguration, the anticipated intensified US-China trade war could benefit the Technology sector. Lastly, state-specific theme plays like Penang LRT development, Sarawak as a regional energy hub and also formalisation of JS-SEZ may boost the Construction and Property sectors in the near to mid-term.
Stocks to watch:
Technology: ADB, EG, *FRONTKN*, *ITMAX*, *RAMSSOL*
Renewable: PEKAT, SLVEST
O&G: *ARMADA*
Construction: *SENDAI*
Consumer: GCB
Source: M+
Forwarded from M+ On-The-Go
M+ Market Wrap - 20Jan25
FBM KLCI: 1,572.34 pts (+5.62pts, +0.36%)
In tandem with the regional markets' performance, the FBMKLCI (+0.36%) extended its gains and closed higher at 1572.34 pts, led by key heavyweights including MAYBANK (+14.0 sen) and PMETAL (+13.0 sen). The market breadth was also positive, with 628 winners against 397 losers. In the broader market, 12 out of the 13 sectors ended positively, with the Energy (+1.77%) sector gaining the most, supported by the recent rally in crude oil prices. Meanwhile, Financial Services (-0.05%) was the only sector in red today.
Top 3 Active stocks:
VELESTO (5243): RM0.195 (+1.0 sen)
INGENIEU (5178): RM0.050 (unch)
MYEG (0138): RM0.955 (+1.5 sen)
Volume: 2.95 bn (100-bar avg vol: 3.02 bn)
Value: RM2.45 bn (100-bar avg val: RM2.82 bn)
Market Breadth: ⬆️628 ⬇️397
Crude palm oil: RM4,197 (+RM7)
Dow Futures: 43,722 pts (+27 pts)
**Source: Bloomberg, M+**
FBM KLCI: 1,572.34 pts (+5.62pts, +0.36%)
In tandem with the regional markets' performance, the FBMKLCI (+0.36%) extended its gains and closed higher at 1572.34 pts, led by key heavyweights including MAYBANK (+14.0 sen) and PMETAL (+13.0 sen). The market breadth was also positive, with 628 winners against 397 losers. In the broader market, 12 out of the 13 sectors ended positively, with the Energy (+1.77%) sector gaining the most, supported by the recent rally in crude oil prices. Meanwhile, Financial Services (-0.05%) was the only sector in red today.
Top 3 Active stocks:
VELESTO (5243): RM0.195 (+1.0 sen)
INGENIEU (5178): RM0.050 (unch)
MYEG (0138): RM0.955 (+1.5 sen)
Volume: 2.95 bn (100-bar avg vol: 3.02 bn)
Value: RM2.45 bn (100-bar avg val: RM2.82 bn)
Market Breadth: ⬆️628 ⬇️397
Crude palm oil: RM4,197 (+RM7)
Dow Futures: 43,722 pts (+27 pts)
**Source: Bloomberg, M+**
Forwarded from M+ On-The-Go
M+ Morning Market Buzz - 21Jan25
Dow Jones: 43,487.83 pts (+334.70pts, +0.78%)
⬆️ Resistance: 44600
⬇️ Support: 41400
FBM KLCI: 1,572.34 pts (+5.62pts, +0.36%)
⬆️ Resistance: 1640
⬇️ Support: 1520
HSI Index: 19,925.81 pts (+341.75pts, +1.75%)
⬆️ Resistance: 20500
⬇️ Support: 18600
Crude Palm Oil: RM4,206 (+RM3, +0.07%)
⬆️ Resistance: 4610
⬇️ Support: 4030
Brent Oil: $80.15 (-$0.64, -0.79%)
⬆️ Resistance: 84.30
⬇️ Support: 77.90
Gold: $2,708.21 (-$1.08, -0.04%)
⬆️ Resistance: 2780
⬇️ Support: 2610
Source: Bloomberg, M+
Dow Jones: 43,487.83 pts (+334.70pts, +0.78%)
⬆️ Resistance: 44600
⬇️ Support: 41400
FBM KLCI: 1,572.34 pts (+5.62pts, +0.36%)
⬆️ Resistance: 1640
⬇️ Support: 1520
HSI Index: 19,925.81 pts (+341.75pts, +1.75%)
⬆️ Resistance: 20500
⬇️ Support: 18600
Crude Palm Oil: RM4,206 (+RM3, +0.07%)
⬆️ Resistance: 4610
⬇️ Support: 4030
Brent Oil: $80.15 (-$0.64, -0.79%)
⬆️ Resistance: 84.30
⬇️ Support: 77.90
Gold: $2,708.21 (-$1.08, -0.04%)
⬆️ Resistance: 2780
⬇️ Support: 2610
Source: Bloomberg, M+
Forwarded from M+ On-The-Go
M+ Market Update – 21Jan25
All Eyes Are On Trump’s Policies
The local bourse continued to close higher, buoyed by gains in the Banking and Utilities heavyweights. In the US, market was closed due to Martin Luther King Jr. public holiday, with investors focusing on President Trump’s inauguration speech and his series of executive actions. Meanwhile, other key economic highlights this week include (i) BoJ interest rate decision, (ii) initial jobless claims in the US and also (iii) crude oil inventories. In the commodities market, Brent crude oil broke below the USD81 mark, while gold price continued to hover around the USD2,700 level. Trump’s supportive stance towards cryptocurrency had also led Bitcoin to an all-time-high at USD109k. Meanwhile, CPO prices traded flat around the RM4,200 level.
Sector Focus: With Malaysia heading the ASEAN chair, we remain about the Renewable Energy and Tourism sectors. Although the Energy sector could see continued strength due to Russian oil sanctions and declining crude oil inventories data last week, the optimism may fade as Donald Trump planned to increase the US oil production, thus limiting the upside potential of crude oil price. Meanwhile, the ongoing tariffs on China’s products, which could weaken China’s economy, are likely to reduce global oil demand.
Stocks to watch:
Technology: *EG*, GENETEC, *ITMAX*, MYEG, *RAMSSOL*
Renewable: *SLVEST*
Construction: *SENDAI*
O&G: KEYFIELD
Consumer: GCB
Source: M+
All Eyes Are On Trump’s Policies
The local bourse continued to close higher, buoyed by gains in the Banking and Utilities heavyweights. In the US, market was closed due to Martin Luther King Jr. public holiday, with investors focusing on President Trump’s inauguration speech and his series of executive actions. Meanwhile, other key economic highlights this week include (i) BoJ interest rate decision, (ii) initial jobless claims in the US and also (iii) crude oil inventories. In the commodities market, Brent crude oil broke below the USD81 mark, while gold price continued to hover around the USD2,700 level. Trump’s supportive stance towards cryptocurrency had also led Bitcoin to an all-time-high at USD109k. Meanwhile, CPO prices traded flat around the RM4,200 level.
Sector Focus: With Malaysia heading the ASEAN chair, we remain about the Renewable Energy and Tourism sectors. Although the Energy sector could see continued strength due to Russian oil sanctions and declining crude oil inventories data last week, the optimism may fade as Donald Trump planned to increase the US oil production, thus limiting the upside potential of crude oil price. Meanwhile, the ongoing tariffs on China’s products, which could weaken China’s economy, are likely to reduce global oil demand.
Stocks to watch:
Technology: *EG*, GENETEC, *ITMAX*, MYEG, *RAMSSOL*
Renewable: *SLVEST*
Construction: *SENDAI*
O&G: KEYFIELD
Consumer: GCB
Source: M+
Forwarded from Trade With Maybank
Positive Outlook for Malaysian Construction Sector
Maybank Investment Bank (Maybank IB) projects a 17.7% earnings growth for construction stocks in 2025, driven by key infrastructure developments.
These include flood mitigation projects on the East Coast, renewable energy projects in Sarawak, and initiatives within the Johor-Singapore Special Economic Zone (JS-SEZ). Leading construction companies such as Gamuda (GAMUDA), Sunway Construction (SUNCON), and IJM Construction (IJM) could benefit from this.
Maybank IB also anticipates more projects to adopt the Public-Private Partnership (PPP) model under the Government’s PPP masterplan, favoring financially robust construction firms.
Investors bullish on the sector may consider leveraged exposure via Call Warrants such as GAMUDA-C3B, SUNCON-C18, and IJM-C86.
#WarrantsWatch
Maybank Investment Bank (Maybank IB) projects a 17.7% earnings growth for construction stocks in 2025, driven by key infrastructure developments.
These include flood mitigation projects on the East Coast, renewable energy projects in Sarawak, and initiatives within the Johor-Singapore Special Economic Zone (JS-SEZ). Leading construction companies such as Gamuda (GAMUDA), Sunway Construction (SUNCON), and IJM Construction (IJM) could benefit from this.
Maybank IB also anticipates more projects to adopt the Public-Private Partnership (PPP) model under the Government’s PPP masterplan, favoring financially robust construction firms.
Investors bullish on the sector may consider leveraged exposure via Call Warrants such as GAMUDA-C3B, SUNCON-C18, and IJM-C86.
#WarrantsWatch
https://www.thestar.com.my/business/business-news/2025/01/20/tdm-bags-construction-job-worth-rm72mil
The Star
TDM bags construction job worth RM72mil
PETALING JAYA: TDM Bhd is engaging Tawau Healthcare Sdn Bhd (THSB) in a RM72mil contract to build, construct and undertake renovation works for a new specialist hospital building in Tawau, Sabah.