MRCB records 55 per cent growth in revenue in first half 2017

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) recorded a higher revenue of RM1.28 billion for the first six months ended June 2017 from RM825.20 million previously, mainly derived from its engineering and construction division.

In a statement here, MRCB said excluding disposal gains of RM44.4 arising from disposal of non-core assets in the corresponding period in 2016, the group registered 32 per cent growth in pre-tax profit at RM63.4 million.

Group managing director Tan Sri Mohamad Salim Fateh Din said the strong growth in revenue was driven by a 110 per cent rise in the group's engineering, construction and environment revenues.

“Our Property Development & Investment division recorded a 29 per cent increase in revenue, contributed by the award winning Sentral Residences and our Eastern Burwood Development in Melbourne,” he added.

He said with these two key property development projects completed now, and new projects still in the early phase of construction, revenues this year would continue to be dominated by the engineering, construction and environment division.

Meanwhile, in a filing to Bursa Malaysia, MRCB said the company's property development would focus on marketing its new residential development projects, including “Sentral Suites” in KL Sentral.

“It added that the revenues and profits would continue to be progressively recognised in the present financial year from “Vivo”, the office development projects in PJ Sentral Garden City and Menara MRCB in Putrajaya. —