MRCB’s net profit falls 43.8% in 4Q

by TMR

Malaysian Resources Corp Bhd (MRCB) posted a 43.83% year-on-year (YoY) decline in net profit to RM105.65 million for the fourth quarter ended Dec 31, 2017 (4Q17), as the group had in 4Q16 recognised disposal profits of RM56.1 million generated from the sale of a piece of leasehold land to Mass Rapid Transit Corp Sdn Bhd and gains of RM186.5 million recorded from the disposal of Menara Shell and Sooka Sentral properties.

Revenue for the three months dropped 60.44% YoY to RM408.16 million, its exchange filing yesterday noted.