Malaysian Resources Corporation Berhad, or MRCB, is a Malaysian conglomerate with a diverse portfolio of businesses.
MRCB was founded in 1975, and it has been listed on the Bursa Malaysia since 1993.
The company is involved in various sectors, including property development, construction, and engineering.
MRCB's primary business is property development, with a focus on building commercial and residential properties.
Financial Performance
MRCB's financial performance has taken a hit due to lower billings.
The company's net profit for the second quarter fell by a staggering 70.6% year-over-year to RM15.07 million, a significant decline from RM51.18 million in the same period last year.
Revenue also dropped 20% to RM297.76 million from RM372.16 million a year ago.
The property development and investment segment saw a 60% year-over-year decline in revenue to RM28.53 million during the quarter.
This was largely due to lower contributions from the sale of completed unsold units and ongoing projects.
On a six-month basis, the segment's revenue fell 56% from a year ago to RM74.53 million.
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MRCB's engineering, construction and environment segment also saw a decline in revenue, falling by 12% during the quarter to RM248.2 million.
This was partly due to the LRT3 project's construction nearing completion, while new project awards were still in early stages.
As a result, MRCB's net profits more than halved in the first half of the year compared with the corresponding period a year ago, dropping to RM23.66 million.
Revenue fell 39.2% to RM515.95 million from RM848.35 million during the same period.
The company's property development and investment division remains focused on enhancing cash flow by monetising unsold completed stocks in Malaysia.
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Malaysian Resources Corporation Berhad Stock
Malaysian Resources Corporation Berhad Stock is a company that operates in several countries around the world.
It operates as a property and construction company, indicating that their primary focus is on building and developing properties in different regions.
MRCB has a presence in Malaysia, Australia, Thailand, Singapore, Hong Kong, and New Zealand, suggesting that they have a diverse portfolio of projects across various markets.
Their investment holding company status implies that they have a solid financial foundation to support their business operations and expansion plans.
Their geographical reach is quite extensive, with operations in six countries across Asia and Oceania, which can be beneficial for their business growth and diversification.
Frequently Asked Questions
Who owns MRCB?
MRCB is owned by the EPF, a significant shareholder with a 38% stake, making it a government-linked company in Malaysia.
What is the history of MRCB?
MRCB was founded in 1968 and has since become a leading player in the property and construction industry. With a history spanning over five decades, MRCB has established itself as a trusted provider of comprehensive property development and investment solutions.
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