MRCB

[winston]

not vested

MRCB eyes growth with RM5.5bil property launches

Future growth will be driven by the launching of RM1.5bil in properties in Australia and Malaysia in 2023, followed by RM4.0bil in New Zealand and Malaysia in 2024.

RM30bil construction tenderbook and potential redevelopments of Stadium Shah Alam and KL Sentral Station contribute to future prospects.

MRCB’s net profit tumbled to RM1.46mil, or earnings per share of 0.03 sen in the third quarter ended Sept 30 (3Q) compared with RM23.7mil, or 0.53 sen achieved in the same quarter last year.

Its revenue fell 41.4% to RM503.7mil against RM860mil posted last year.

Decline in revenue was due to lower contributions from both the property development and investment division and engineering, construction and environment division, after the completion of three major infrastructure construction projects in 2022 and the completion of two major property development projects in the first half of 2023.

Source: The Star

https://www.thestar.com.my/business/bus ... y-launches

[winston]

not vested

New projects expected to drive MRCB’s growth prospects

Formed a consortium with Berjaya Land Bhd’s subsidiary Berjaya Rail, IJM Corp Bhd’s unit IJM Construction and national railway company Keretapi Tanah Melayu (KTMB) to submit a concept proposal for the Kuala Lumpur-Singapore high-speed rail (HSR) project.

Flood mitigation project (estimated at RM500mil to RM1bil) in Selangor .

Other prospects may come from MRT3 – we think MRCB has a chance to secure the elevated section, while the reinstatement of five LRT3 stations may also benefit the group, which is the main contractor for the ongoing construction of the 20 initial stations.

Source: The Star

https://www.thestar.com.my/business/bus ... -prospects

[winston]

not vested

Value unlocking initiatives stand MRCB in good stead

Anchored by projects such as the Light Rail Transit Three (LRT 3) phase two and the redevelopment of Shah Alam Stadium and KL Sentral.

Source: The Star

https://www.thestar.com.my/business/bus ... good-stead

[winston]

not vested

MRCB's 4Q profit jumps to RM80m on disposal gains, from RM13m a year ago

By Jason Ng

Revenue fell nearly 20% to RM668.78 million, from RM833.94 million previously, following the completion of major infrastructure and property development projects.

Property Dev: unsold completed stock” stood at RM384.8 million,

Engineering, construction, and environment division, is bidding for projects worth RM30 billion, while working on RM26.1 billion worth of existing orders, of RM15.7 billion are still unbilled.

Ongoing projects include the first phase of the Light Rail Transit 3 (LRT3) project, which MRCB said is on track to be completed by the end of 2024, and the RM380 million Muara Sg Pahang Phase 3 flood mitigation construction project.

For the full FY2023, net profit rose 56% to RM101.03 million from RM64.85 million a year earlier, while revenue was 22% lower at RM2.51 billion versus RM3.21 billion.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/702914