Malaysia construction margins are expected to come under further pressure in 2H as higher energy prices continue to lift logistics and building material costs, CIMB Securities analysts Kenny Mak Hoy Ken and Wei Yi Tan say in a note. He expects a slower pace of infrastructure project awards, citing fiscal constraints and possible delays in major policy decisions ahead of coming state elections. CIMB maintains a neutral rating on Malaysia construction and materials sector given its muted order book visibility and escalating input cost pressures. It keeps Gamuda and IJM Corp. as its top picks. ([email protected])