MRCB reports 65% drop in 1Q net profit on lower sales, billings
MRCB said it plans to focus on boosting cash flow by monetising its unsold completed stock, which amounted to RM342.
MRCB said it plans to focus on boosting cash flow by monetising its unsold completed stock, which amounted to RM342.
For the property development segment, “the company’s immediate priorities moving forward remain on enhancing its cash flow by monetising its unsold completed stock”, which stood at RM384.
Padang Residences is part of the RM3.
Last Friday, IJM Construction confirmed that it has teamed up with Berjaya Land Bhd’s 70%-owned subsidiary Berjaya Rail Sdn Bhd, Malaysian Resources Corp Bhd (MRCB) and national railway company Keretapi Tanah Melayu Bhd to bid for the project.
Sources said other technical members of the consortium include Japan’s Hitachi Rail STS, which specialises in providing signalling systems, Hyundai Rotem Co, a South Korean company that manufactures rolling stock, and German rail operator Deutsche Bahn AG’s unit DB Engineering & Consulting GmbH.
Notably, BLand shares touched a three-year high, surging as much as 9.
The consortium led by BRail submitted the request for information (RFI) concept proposal for the project shortly before the submission deadline, according to sources.
The acquisition consideration will be satisfied through the disposal of malls and several residential units to PKNS, and funding through internally generated funds.
Sentral REIT had on July 25 struck a deal with MRCB’s wholly-owned unit Puncak Wangi Sdn Bhd to acquire Menara CelcomDigi, a 27-storey office building.
MRCB said the decline in revenue was due to much lower contributions from the property development and investment division, as well as the engineering, construction and environment division, following the completion of three major infrastructure construction projects last year and two major property development projects in the first half of 2023 (1HFY2023).