MRCB balance sheet seen to improve further in 2H

Malaysian Resources Corp Bhd (Oct 12, 72 sen) Maintain buy with a target price of 98 sen: Malaysian Resources Corp Bhd’s (MRCB) balance sheet is expected to improve further in second half of financial year 2018 (2HFY18) with earnings enhancement largely due to the disposal of land in Kia Peng, Kuala Lumpur, which is to be concluded in the third quarter of FY18, and significant deleveraging expected from the disposal of its two key non-core assets — the Eastern Dispersal Link (EDL) with an outstanding debt of RM1.

READ MORE

RAM downgrades MRCB Southern Link’s RM845m sukuk

KUALA LUMPUR (September 27): RAM Ratings has downgraded the long-term rating of MRCB Southern Link Bhd’s RM845 million senior sukuk to C1 from BB3 on heightened default risk following the abolishment of toll collections at the Eastern Dispersal Link (EDL) which is being taken over by the government.

READ MORE

Khazanah chief Shahril exits Media Prima, MBSB, MRCB

KUALA LUMPUR (Aug 21): As he clocked in as Khazanah Nasional Bhd’s new managing director yesterday, Datuk Shahril Ridza Ridzuan (pictured) resigned from the board of directors of three companies, namely Media Prima Bhd, Malaysia Building Society Bhd (MBSB) and Malaysian Resources Corp Bhd (MRCB) as their non-independent, non-executive director.

READ MORE