MRCB Shares Rise In Early Trade On LRT3 Spillover Potential

KUALA LUMPUR, July 6 (Bernama) -- Shares of Malaysian Resources Corporation Bhd (MRCB) rose in early trade today on potential spillover effects from the Light Rail Transit 3 (LRT3) project, including transit-oriented development opportunities along the rail line.

At 10.34 am, the stock climbed half a sen to 33 sen, with 2.22 million shares traded.

RHB Investment Bank Bhd said MRCB’s track record in LRT3, in addition to other rail projects such as Mass Rapid Transit 2 (MRT2), may enable the group to clinch more opportunities from upcoming rail-related projects, particularly the Penang LRT and MRT3.

“MRC received the notice to proceed for the five reinstated LRT3 stations in the first half of 2026, with works likely to commence in the third quarter of 2026. Therefore, we expect MRCB to see recognition of higher progress billings for its construction arm, particularly from late 2026 onward,” it said in a note.

RHB has maintained its “buy” call on MRCB, with an unchanged target price of 51 sen.

-- BERNAMA