From UOB-Kay Hian:-
Key beneficiaries. We believe that NWS (659) and CSCI (3311 HK) are key beneficiaries of the booming investment in infrastructure projects in HK.
CSCI is a subsidiary of China State Construction Engineering Corporation (CSCE), the third-largest construction company in China in 2006. CSC is one of the five Group C contractors for all categories of public works including port, road, drainage and waterworks, as well as buildings in Hong Kong. The Group is one of the largest construction companies in Hong Kong and has a leading position in Macau.
CSCI is also engaged in construction projects overseas such as in Dubai and India. In terms of revenue contribution, Hong Kong construction works accounted for 54% of total turnover in FY07, followed by 16% in Macau, 20% in Dubai and 6.5% in China