Malaysian Resources Corp Bhd (Aug 27, 72 sen) Maintain hold with a lower target price (TP) of 74 sen: Malaysian Resources Corp Bhd’s (MRCB) net profit of RM15 million (-72% year-on-year [y-o-y]) for the cumulative six months of financial year 2019 (6MFY19) is only 11% to 16% of the market consensus and our previous FY19 forecast of RM94 million to RM137 million.
KUALA LUMPUR (Aug 27): Malaysian Resources Corp Bhd’s (MRCB) net profit fell 67% in the second quarter ended June 30, 2019 as it recognised lower billings from its property development projects.
PETALING JAYA (Sept 27): Hong Kong investors are setting their sights on Southeast Asian property, and Malaysia is also in their cross hairs, the South China Morning Post (SCMP) reported today.
KUALA LUMPUR (May 4): Malaysian Resources Corp Bhd (MRCB), the master developer of KL Sentral, sees rising demand for residential properties at transit-oriented developments (TODs) by city dwellers and aims to tap more into this property segment.
LONDON (Feb 17): Malaysian Resources Corp (MRCB) is planning to launch residential properties with a combined gross development value (GDV) of RM1 billion in 2017.
PETALING JAYA (Oct 31): Malaysian Resources Corp Bhd (MRCB) will be launching its Kalista Park Homes in Bukit Rahman Putra, Sungai Buloh this November.
PETALING JAYA (June 1): Malaysian Resources Corp Bhd (MRCB) has set a RM1 billion sales target for 2016 — a risky bet considering that its 2015 sales only amounted to RM850 million, while the real estate market remains muted.
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