Gamuda, Sunway Construction, Binastra: Getting Things Moving With MRT3

Source: Company data, RHB

Figure 5: Overall alignment of MRT3 (shown during the public inspection exercise from Sep to Dec 2024)

Stations (from UM, clockwise):

• Underground Alignment: UM, Universiti, Pantai Permai, Pantai Dalam, Jalan Klang Lama, Kuchai, Salak Selatan, Salak Jaya
• Elevated Alignment: Sri Permaisuri, Taman Yaacob Latif, Jalan Loke Yew, Taman Midah, Taman Cheras, Pandan Kencana, Kampung Pandan, Taman Indah, Tasik Ampang, Taman Hillview, AU2 (Provisional), Setiawangsa, Rejang, Setapak, Danau Kota, Jalan Langkawi, Kampung Puah (Provisional), Titiwangsa, Kompleks Duta, Taman Dutamas, Sri Sinar, Segambut, Bukit Hartamas, Sri Hartamas, Bukit Kiara, Bukit Kiara Selatan

Legend:

• Park and Ride
• Provisional Station
• MRT Kajang Line
• LRT Ampang Line
• LRT Kelana Jaya Line
• KTM Tanjung Malim – Pelabuhan Klang Line
• MRT Putrajaya Line
• LRT Sri Petaling Line
• KL Monorail Line
• KTM Batu Caves – Pulau Sebang Line

Source: MRT Corp

Figure 6: MRT3 estimated cost breakdown assuming the lowest bidders based on The Edge’s article – prior to any cost review by the Government

Note: Based on the parliamentary reply in Aug 2022, Land Public Transport Act 2010.

Note 2: * Amount left of after taking into account the PMC and civil construction costs (based on lowest bidders highlighted in The Edge’s article).

Source: RHB, Land Public Transport Agency, various media

Figure 7: List of contractors for the viaduct construction and underground works under MRT2

Source: MRT Corp

Figure 8: MRT1 Timeline

Source: Various media

Figure 9: MRT2 Timeline

Source: Various media

Important Disclosures

RHB Guide to Investment Ratings

Buy: Share price may exceed 10% over the next 12 months

Trading Buy: Share price may exceed 15% over the next 3 months, however longer-term outlook remains uncertain

Neutral: Share price may fall within the range of +/- 10% over the next 12 months

Take Profit: Target price has been attained. Look to accumulate at lower levels

Sell: Share price may fall by more than 10% over the next 12 months

Not Rated: Stock is not within regular research coverage

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