News about MRCB

At the same time, MRCB is buying seven parcels of land in Cyberjaya and Dengkil from Cyberview for RM287.

The scope of work includes the construction of five reinstated stations along the LRT3 line, the construction of two electric vehicle bus depots in Shah Alam and Johan Setia, the supply of light rail vehicles as well as construction-related infrastructure and system works.

The transit-oriented development project will add 19% to MRCB’s total remaining gross development value (GDV), for it to reach RM38.

The development will include affordable housing, hotel, commercial, green spaces, and educational institutions.

In a filing, MRCB said the group issued a notice of termination to consortium partner Berjaya Rail Sdn Bhd to terminate the teaming agreement for the submission of a non-binding conceptual proposal to MyHSR Corporation Sdn Bhd in relation to the project.

MRCB’s decision to exit the consortium was so it could “pursue other strategic opportunities”, said Berjaya in a statement.

In the property segment, MRCB is planning some RM1.

On Thursday, MRCB reported that its net profit for 1QFY2024 plunged 65% year-on-year to RM3 million, due to lower sales and billings, following the completion of two major projects.

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.