MRCB

[winston]

not vested

Property earnings boost offset weak infra

9MFY22 results were above expectations on strong property earnings.

Construction segment was weak, dragged by LRT 3’s cost and productivity disruptions but tender prospects have risen substantially to include MRT 3.

Maintain Hold with a lower TP (60% discount to RNAV).

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... ADF76854DB

[winston]

not vested

3Q Results

Revenue: +595%; RM 860m
Profit: RM 23.7m
Net Asset Value: RM 1.01

https://www.bursamalaysia.com/market_in ... id=3311326

[winston]

not vested

May 17, 2022

MRCB to see stronger earnings through LRT 3 consolidation, says HLIB

by Sulhi Khalid

“The LRT 3 project has achieved a completion rate of 70%, and could potentially reach 80% by end-2022.

“Recall that the remaining 50% of the LRT 3 joint venture was taken over by MRCB in 4Q21 (the fourth quarter of 2021) and should thus boost the company’s top and bottom lines substantially in FY22 (the financial year ending Dec 31, 2022).

On the impact of rising material prices on MRCB's external projects, HLIB said the company had pointed out that 45% of its active construction order book is in advanced phases (70% to 91% completed).

Source: theedgemarkets.com

https://www.theedgemarkets.com/node/619993

[winston]

not vested

MRCB posts lower net profit in 4QFY22; declares one sen dividend

by Justin Lim

Net profit for the fourth quarter ended Dec 31, 2022 (4QFY2022) came in sharply lower at RM13.02 million from RM75.21 million a year ago.

Quarterly revenue fell marginally by 2.82% year-on-year (y-o-y) to RM833.94 million, from RM858.12 million.

Source: theedgemarkets.com

https://www.theedgemarkets.com/node/656019

[winston]

not vested

Malaysian Resources Corp
Core earnings turnaround in FY22

FY22 results were slightly below expectations despite a profit turnaround.
Ramp-up in infra billings was driven by LRT 3; property EBIT was stronger.
Maintain Hold rating with a higher TP 0.35 (60% discount to RNAV).

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 547BC5D9DD

[winston]

not vested

Property and infrastructure company Malaysian Resources Corp Bhd’s (MRCB), recorded a net profit of RM8.47 million for the first quarter ended March 31, 2023 (1QFY2023), a decline of 40% year-on-year from RM14.03 million, mainly due to the completion of Package CB2 of the Damansara-Shah Alam Elevated Expressway (DASH) project last year.

Revenue for the quarter also fell 8% to RM742.24 million, from RM810.71 million previously.

Source: The Edge

[winston]

not vested

MRCB's net gearing could exceed 0.49 times if KL Sentral, Shah Alam Sports Complex redeveloped concurrently — HLIB Research

By Lam Jian Wyn

Net gearing levels could rise to 0.49 times if the redevelopment of KL Sentral alone — which is estimated to cost over RM1 billion — took place after the disposal of Menara CelcomDigi to Sentral REIT.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/677279

[winston]

not vested

KL Sentral Revamp: Privatized Modernization to Ease Congestion

Last week, the Cabinet endorsed Malaysian Resources Corporation Bhd's (MRCB) proposal to revamp KL Sentral.

MRCB will fund the approximately MYR1 billion project and gain rights for commercial spaces at the transport center.

This is viewed as a cost-free privatization, enhancing public transportation with a contemporary station.

KL Sentral, crucial for KLIA Express, LRT, and KTM services, faces severe congestion due to its outdated design for 100,000 daily commuters, now handling 200,000.

The rebuild is expected to start in 1-2 years which aims to enhance security; discussions with the public-private partnership unit will continue for finalization within a year.

Source: Maybank

[winston]

not vested

MRCB’s 2Q net profit down 23% on lower engineering and construction revenue

By Anis Hazim

Malaysian Resources Corp Bhd’s (MRCB) net profit fell 22.93% to RM10.87 million or 0.24 sen for the second quarter ended June 30, 2023 (2QFY2023), from RM14.1 million or 0.32 sen a year earlier.

Quarterly revenue decreased 14.43% to RM599.35 million from RM700.39 million, according to the property and infrastructure company’s bourse filing on Wednesday.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/680874

[winston]

not vested

Returns On Capital Are Showing Encouraging Signs At Malaysian Resources Corporation Berhad (KLSE:MRCB)

Malaysian Resources Corporation Berhad has an ROCE of 2.6%. In absolute terms, that's a low return and it also under-performs the Construction industry average of 5.8%.

Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction.

Source: Simply Wall St

https://finance.yahoo.com/news/returns- ... 52963.html