According  to  a  press  report,  the  Director  for  project  management  of  the Prasarana Group said that investigations on the cause of the LRT extension incident  at  the  Putra  Heights  project  site,   where  the  scaffolding  and formwork collapsed and killed two workers, are underway. The report added that  Prasarana,  project  management  consultant  Opus-Ace  Vector Consortium, detailed consultant and supervising engineer HSS Integrated, and  the  contractor  of  the  Kampung  Kuala  Sungai  Baru  Depot  Fajarbaru Builder  promised  to  cooperate  with  the  authorities  to  investigate  the incident. (Source: www.themalaymailonline.com)

The  MRCB  and  Sunway  Groups  are  the  contractors  for  Packages  B  the Ampang  and  Kelana  Jaya lines  respectively,  which both  end  at  the  Putra Heights station. We are unable to confirm at this stage if work progress for their respective portions of the LRT extensions will be significantly affected by the incident.

We currently have BUY ratings for MRCB (RM1.24, BUY TP RM2.26) and Sunway (RM3.29, BUY TP RM3.60).

Source: Affin Hwang Capital Research - 26 Dec 2014