Stronger: MIDF research says it is positive on MRCB
KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) does not expect the pledges made by the new Pakatan Harapan Government to have an impact on the company’s ongoing projects.
MRCB chief corporate officer Amarjit Chhina clarified that just over 20% of the company’s orderbook comprised government projects.
“We’re in great shape. Only 23% of our projects are from the Government,” he said after the company AGM and EGM today.
Executive director Mohd Imran Mohd Salim said the group will continue to tender for all kinds of projects - regardless of whether it is government-linked or otherwise.
“We will aggressively tender, whether it is government-linked, private or overseas. As long as there is a tender, we will try,” he said.
MRCB posted a net profit of RM167.6mil, or 6.56 sen a share for the full year ended Dec 31, 2017 (FY17) as revenue climbed to RM2.82bil.
The group’s property division recorded a total sales of RM1.42bil last year, higher than its original target of RM1.2bil.
Despite the stronger sales, revenue from the division dropped by almost a third to RM858.7mil, while profit declined to RM176mil.
As of end of December, the group’s unbilled order book stood at RM5.2bil.
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