CCCC upset over ECRL suspension

CIMB Equities Research remains cautious on the construction sector despite possible revival of the East Coast Rail Line (ECRL), albeit downsized,

PETALING JAYA: The Government is pushing to renegotiate the agreement tied to the East Coast Rail Link (ECRL) project, and has suspended works on the multibillion ringgit project.

In an immediate response, the main contractor China Communications Construction Company Ltd (CCCC) expressed its disappointment on the move and warned that the cost of the ECRL construction could rise due to the suspension.