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Losses in 3QFY21; a rebound in 4QFY21F

■ 9MFY21 results were below expectations; core net loss of RM15.6m excludes RM61m land sale gain. 3Q21 performance was hit by lockdowns.
■ Construction division was the best performer; billings to rebound in 4Q21F.
■ Reiterate Add and TP, supported by potential favourable job win outlook

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