MRCB targets infrastructure, long-term management projects

by TMR

Malaysian Resources Corp Bhd (MRCB) targets infrastructure and long-term fee-based management projects through its engineering, construction and environment division which has open tenders currently valued at RM2.76 billion.
 
The property development and engineering company noted in an exchange filing last week it plans to actively tender for more contracting projects to replenish its order book.
 
The company’s unbilled order book also stands at RM5.1 billion as of June 30, though RM4.6 billion of the projects are in its early construction phase, which will pick up and expected to form the company’s operating profit backbone.
 
Its external client order book stood at RM6.5 billion, which will increase by RM11 billion when the Bukit Jalil corporate exercise is completed.
 
The company’s property development segment plans to focus its marketing efforts on its residential development projects, namely Sentral Suits in KL Sentral, 1060 Carnegie in Melbourne and Kalista Park Homes, Bukit Rahman Putra.
 
The gross development values of the projects are RM1.53 billion, RM305 million and RM101 million respectively.
 
For its second-quarter ended June 30, MRCB registers RM33.45 million in net profit against the previous RM24.05 million on the back of its engineering, construction and environment segment’s contribution.