YTL Corporation Bhd, IJM Corporation Bhd, Gamuda Bhd and MMC Corporation Bhd stirred in early trades following the news that Malaysia and Singapore have agreed to build a high-speed rail (HSR) linking the city-state and Kuala Lumpur. At about 10.30 am today, YTL Corporation Bhd rose 4 sen or 2.5% to RM1.62 with trades of 4.75 million shares.
YTL, which has emerged to be the 10 most actively traded stock, was the first company to come out with the proposal on Singapore-KL link. It was responsible for the construction of the express rail link between KL Sentral and KLIA airport.
“Both the rail projects are positive sentiment for the construction sector as it indicates potential order book replenishment opportunities for the construction players.
“We believe that the HSR, which spans more than 300km with speed of over 250km/hr, may cost about RM30 billion. Since this is a G2G project, we believe that both Malaysian and Singapore construction companies will be involved.”