MRT3 contract will be announced by the end of next year!
(Kuala Lumpur, 13th News) As the MRT Corporation begins its public feedback survey for the MRT Line 3 (MRT 3), CIMB Investment Bank conservatively estimates that the engineering contract for MRT3 will be awarded in late 2025 or the first half of 2026.
Based on the timeline of the past MRT1 and MRT2 projects, as well as the government's goal of completing the MRT3 project by 2032, it is estimated that the contract for this project will be awarded by the end of 2025 or the first half of 2026.
The government aims to complete the project by 2032, and the construction work is expected to begin within 2026. We estimate that by 2026, the land acquisition process for the MRT3 project should be completed or nearing completion.
The analyst also cited information provided by the MRT3 public survey counter, stating that the final railway plan for this project is expected to be approved by the end of this year, after the public survey process ends on December 2nd.
Regarding the potential beneficiaries of the MRT3 project, the analyst points out that contractors who have participated in previous metro projects and have a good reputation in railway engineering are expected to benefit, for example. $GAMUDA (5398.MY)$ ， $MRCB (1651.MY)$ ， $SUNCON (5263.MY)$ ， $IJM (3336.MY)$ 。
Based on the timeline of the past MRT1 and MRT2 projects, as well as the government's goal of completing the MRT3 project by 2032, it is estimated that the contract for this project will be awarded by the end of 2025 or the first half of 2026.
The government aims to complete the project by 2032, and the construction work is expected to begin within 2026. We estimate that by 2026, the land acquisition process for the MRT3 project should be completed or nearing completion.
The analyst also cited information provided by the MRT3 public survey counter, stating that the final railway plan for this project is expected to be approved by the end of this year, after the public survey process ends on December 2nd.
Regarding the potential beneficiaries of the MRT3 project, the analyst points out that contractors who have participated in previous metro projects and have a good reputation in railway engineering are expected to benefit, for example. $GAMUDA (5398.MY)$ ， $MRCB (1651.MY)$ ， $SUNCON (5263.MY)$ ， $IJM (3336.MY)$ 。
At the same time, analysts also believe that. $ECONBHD (5253.MY)$ ， $GBGAQRS (5226.MY)$ ， $KIMLUN (5171.MY)$ Construction companies involved in other domestic railway projects may also participate in the MRT3 project through subcontracting.
The budget proposal is expected to disclose the cost.
Analysts believe that the 2025 fiscal budget proposal to be released on October 18 will disclose more details about the MRT3 project, including the latest estimated cost and financing mechanism, as well as whether construction companies need to re-bid.
According to the revised 2023 fiscal budget proposal submitted to Congress in February 2023, the government announced its intention to reduce the cost of the MRT3 project to below 45 billion ringgit.
Currently, the analyst maintains a 'shareholding' rating in the construction sector, with preferential stocks being $GAMUDA (5398.MY)$ ， $SUNCON (5263.MY)$ and $KERJAYA (7161.MY)$
According to the revised 2023 fiscal budget proposal submitted to Congress in February 2023, the government announced its intention to reduce the cost of the MRT3 project to below 45 billion ringgit.
Currently, the analyst maintains a 'shareholding' rating in the construction sector, with preferential stocks being $GAMUDA (5398.MY)$ ， $SUNCON (5263.MY)$ and $KERJAYA (7161.MY)$
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