MRT2 green light lifts MMC, Gamuda shares

MALAYSIA’S power sector is poised to remain positive despite the cancellations of four projects involving Tenaga Nasional Bhd, Ranhill Holdings Bhd and Malakoff Corp Bhd, said analysts.

Shares of the three companies edged up yesterday after research houses came out with positive stance despite the cancellations.

TNB increased 0.29 per cent to end at RM14.04, Ranhill rose 3.26 per cent to 95 sen, while Malakoff gained 1.22 per cent to 83 sen.

Analysts said the two cancelled projects in Kapar, Selangor and Paka, Terengganu involving TNB were still in planning stages and

PIC BY MOHD RAFI MAMAT Public Investment Bank Bhd has maintained its ‘outperform’ call on Tenaga Nasional Bhd with an unchanged target price of RM17.81.

ISMAIL PIC BY ROSELA The Gamuda-MMC consortium remains the contractor for the underground works of the Mass Rail Transit Sungai Buloh-SerdangPutrajaya Line project after agreeing to a RM3.6 billion cost reduction.