MRCB submits RM6 bil worth of construction tenders to replenish FY17 orderbook

KUALA LUMPUR (June 7): Malaysian Resources Corp Bhd (MRCB) has submitted construction bids worth RM6 billion as part of its exercise to replenish its orderbook for financial year ending Dec 31, 2017 (FY17),  its executive director Mohd Imran Mohamad Salim said.

"At any given year, we are expecting our construction orderbook to stand at around RM5 billion to RM7 billion, just to ensure that we can have earnings visibility for the few years ahead," Mohd Imran told reporters after MRCB's 46th annual general meeting here today.

"For FY2017, we are expecting to book at least 10% of the tenders that we have submitted, and we will continue to submit for tenders where there is an opportunity," he added, noting the projects tendered are in the areas of civil engineering, flood mitigation, railway and infrastructure.

Currently, MRCB's orderbook stood at RM7.04 billion, of which RM5.36 billion has yet to be billed. 

"Going forward, we will be actively tendering for projects that will fill our margin criteria, especially in infrastructure-related projects and high complexity traditional building, as well as more specialised niche environment and power transmission projects," Mohd Imran added.

At 2:50pm today, MRCB shares were trading at RM1.40, for a market capitalisation of RM3.07 billion. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.