Finding the buried treasure in SA construction
For a sector in deep trouble, it offers some interesting and potentially lucrative investment plays
There’s no hiding the fact that fortunes have been lost in construction. People who invested a decade ago in the “construction aristocracy” of Murray & Roberts, Group Five, Basil Read and others would have lost their shirts. But fortunes can also be made by investing when others are fearful. Is now such a time?
One fund manager not afraid to have a go is Aeon Asset Managers CIO Asief Mohamed. He’s been buying the stocks of Wilson Bayly Holmes-Ovcon (WBHO) and PPC, banking on the industry surviving on the fumes of private sector infrastructure spending while waiting for the long-awaited spending by the government to kick in...
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