Airport rivalry in Cambodia hurts Muhibbah’s shares

Muhibbah Engineering (M) Bhd airport concession business in Cambodia faces fresh competition fears as Overseas Cambodia Investment Corp (OCIC) builds Cambodia’s largest new airport in Phnom Penh.

Investors sold down Muhibbah in the past six trading days, falling from RM2.31 to a five-year low of RM1.75 yesterday.

A source close to that matter told The Malaysian Reserve (TMR) that Muhibbah’s shares have been dragged by investors’ sentiment arising from possible revenue competition on its airport operations in Cambodia.

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