Shares in building contractors with ongoing projects in Dubai were lower after returning from an extended weekend, led by a 7.5 per cent fall in interior fit-out firm LCL Corp to RM0.31, after hitting its lowest level this year at RM0.29. The company is working on the Atlantis The Palm Hotel, Dubai Metro System, Dubai Mall and Dubai Marina Hotel. IJM Corp, which is nearing the end of its construction of Fortune Tower in Jumeirah Lake in Dubai, was down 1.1 per cent at RM4.45, and Gamuda lost 1.1 per cent to RM2.72. WCT, which lost a US$1.3 billion contract to build a horse-racing track in Dubai earlier this year, was down 4.8 per cent at RM2.40. "In our view, there is minimal risk in terms of (Malaysian) contractors' exposure to the Middle East," HwangDBS said in a research note. -- Reuters
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