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3Q21 results were above expectations, with 9M21 core net profit at 82%/81% of our/consensus FY21E earnings. This was mainly due to higher-than-expected contribution from property segment. We adjust higher our FY21E earnings by 12%. Maintain HOLD with an unchanged TP of MYR0.97 (pegged to 11x FY22E PER). Our preferred construction sector BUYs are Gamuda and IJM Corp. 

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