KVMRT2 UG portion is still running, albeit a cost reduction of RM3.6b which is agreeable by both key parties - MoF and Gamuda-MMC. This was subsequent to revision done by the JV Co, whereby the earlier cost-cut was not deemed sufficient by the government. The overall project will now carry a value of RM30.5b.

Our adjusted TP at RM2.80 constitutes a BUY call on the stock>
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Sunway Bhd has formed a joint venture with *MKH Bhd* to undertake an RM504 million transit-oriented freehold mixed development on a 5.28-acre piece of land in Kajang.

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