The MMC Corp Bhd-Gamuda Bhd and George Kent (M) Bhd (GKent) joint venture (JV) is potentially the strongest contender to undertake the proposed Mass Rapid Transit Line 3 (MRT3) project due to the experience and assets needed for the extensive tunnelling works required on the project, according to analysts.

PETALING JAYA: The MMC-Gamuda-George Kent joint venture (JV) is the top contender for the mass rapid transit 3 (MRT3) project, according to Hong Leong Investment Bank (HLIB) Research.

Mass Rapid Transit Corporation (MRT Corp) announced on Friday (19 January) that one Chinese joint venture and three Malaysian consortiums have submitted bids with proposed financing packages for building the MRT Circle Line (MRT Line 3) before the tender deadline last Thursday.

Maintain buy at a target price (TP) of RM5.80: In a media release last Friday, Mass Rapid Transit Corp Sdn Bhd announced that four consortiums had submitted turnkey tenders with financing for mass rapid transit 3’s (MRT3) Circle Line.

Three Malaysian consortiums and a Chinese company have submitted the turnkey tenders with financing for the MRT Circle Line that closed last Thursday.

KUALA LUMPUR: CIMB Equities Research is retaining its overweight outlook for the construction sector, especially Gamuda, as the awarding of the mega rail projects is imminent.