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.
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.
KUALA LUMPUR (September 19): The air-conditioning system for KL Sentral will be temporarily offline for the purposes of maintenance from this Friday night to this Saturday noon, the station’s developer MRCB has said.
KUALA LUMPUR (September 17): The Light Rail Transit 3 (LRT3) project is expected to continue in November, after contractors agreed to lower project costs.
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.
KUALA LUMPUR (Aug 8): Malaysian Resources Corporation Bhd (MRCB) was the most actively traded counter on Bursa Malaysia in the morning session after the government confirmed that MRCB George Kent Sdn Bhd would remain the project delivery partner (PDP) for the light rail transit three (LRT3) venture.
KUALA LUMPUR (Aug 7): The government would have to pay a RM4.