Equity Analysis /
Malaysia

MY : Construction - More traction on the MRT 3 track

    Sharizan Rosely
    Sharizan Rosely

    Construction and Infrastructure

    CGS-CIMB
    25 March 2022
    Published by

    The government reveals that the MRT 3 will cost RM31bn, consisting of five main packages. Tenders are to be launched in May 22, earlier than expected. The MOF will raise up to RM50bn via green bonds while the first 1-2 years of construction will utilise the PFI/hybrid funding model. Gamuda and HSS are our top MRT 3 picks; reiterate sector Neutral rating.