KUALA LUMPUR: MRT Corp's new details regarding the Mass Rapid Transit 3 (MRT3) project could offer some upside surprises to the construction sector, said Kenanga Research.
The research house said it is net positive over the new details as "behind-the-scenes progress" is picking up fast.
"Despite the stretched out construction period of 10 years; should our guesstimate contract quantum of RM32.9b be proven accurate – it would be an upside surprise.
"Reiterate Overweight on the sector," it said in its construction sector update.
It noted that apart from Gamuda being the obvious beneficiary there will be lesser beneficiaries, such as Kimlun, IJM and MRCB.