Headline is: TRC Synergy & UEM Group in final race for LRT extension job

Headline is: TRC Synergy & UEM Group in final race for LRT extension job.

TRC & UEM Builder Intria Bina S/B are believed to be at the last mile of the race to win the contract for the extension of the LRT near Kelana Jaya. It looks as if TRC is the front runner for the job. The cost of the civil works is estimated at RM900m to a bit more than a RM1b.

On the technical, we like it for its very firm Wave 3 uptrend with support at RM1.19 to RM1.45. Resistance is at RM1.49 & 1.60. Stop-loss is at RM1.17 and the upside target areas are RM1.68, RM1.86 and RM2.17 in the longer-term.