Engineering a recovery play

■ HSS is a major EPMS beneficiary of a broad-based sector recovery and the
resumption of domestic infrastructure projects.
■ Share price offers attractive risk-reward ahead of the 12MP and a revival of
rail jobs; HSS is a leading EPMS player in Malaysia’s rail space.
■ Initiate with an Add and RM0.89 TP with job wins in 2HCY21F as catalysts.