MRCB: Subway system is several times costlier than monorail

KUALA LUMPUR: While the suggestion from Penang’s new Chief Minister Lim Guan Eng to build a subway system in Penang as opposed to a monorail is technically feasible, it will cost considerably more, said Malaysian Resources Corp Bhd (MRCB) managing director Shahril Ridza Ridzuan at Invest Malaysia 2008. MRCB was picked to build the monorail system by the Federal government. “Engineering-wise it is not so much an issue. At the end of the day, it is whether it meets the requirements of what they (the state and federal governments) are trying to achieve on a technical point, or whether from a cost point of view it is attractive. “A tunnel solution for public transport will cost substantially more, you are talking about maybe a factor of four or five times more depending on soil conditions,” said Shahril. Lim said recently that a subway rail system could be considered over an overhead structure, as a subway system could also double up as a flood mitigation tunnel. Read more

(The Edge 27-3-2008)

MRCB expects job orders to hit RM9b

Eleven of at least 12 analysts who track the stock recommend a 'buy' on it for they like its strong financials, professional management and that it is a government-linked company. MALAYSIAN Resources Corp Bhd (MRCB), a construction and property company, expects orders to jump by as much as 50 per cent to RM9 billion by the end of the year, its top official said.The combined order book of the main board company currently stands at around RM6 billion to RM7 billion."We're quite confident in terms of where we're going," group managing director Shahril Ridza Ridzuan said in an interview with Business Times. The two businesses typically account for up to 85 per cent of group revenue and profit, with the balance coming from environmental activities, property assets and building services, among others.On the property front alone, the group is planning up to RM6 billion worth of new developments. It is keen on securing more projects in the Middle East, Shahril said. Read more

(New Straits Times 6-3-2008)

MRCB nears key support level

WEAK performances on the regional stock sent share prices on Bursa Malaysia drifting to lower levels yesterday. Its overall declining counters out-paced its advancing counters by 597 to 195. The Kuala Lumpur Composite Index (KLCI) fell from its intra-day high of 1,427.38 to its intra-day low of 1,404.44 yesterday. The KLCI closed at 1,414.32 points, giving a day-on-day loss of 11.17 points, or 0.78 per cent. Malaysian Resources Corporation Bhd (MRCB) staged a technical breakdown yesterday. Its daily price trend closed at RM2.41, posting a day-on-day loss of 25 sen, or 9.40 per cent. Chartwise, MRCB's daily price trend fell from its intra-day high of RM2.95 on February 13 all the way down to its intra-day low of RM2.40 on February 20, recording a total loss of 55 sen, or 18.64 per cent. Read more

(New Straits Times 21-2-2008)

MRCB in venture to buy land for RM133m

MALAYSIAN Resources Corp Bhd (MRCB), together with its joint-venture company Quill Sentral Sdn Bhd and Kuwait Finance House (KFH) has bought land in Lot B KL Sentral for RM133 million. Measuring 7,503 sq m, the joint-venture group plans to develop office towers on the land. The towers will have a total gross floor area of 1.4 million sq ft. KFH is participating as a financier.

(31-1-2008 New Straits Times)

MRCB in JV to build mall

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) signed an agreement with Pelaburan Hartanah Bumiputera Bhd (PHBB) to set up joint-venture company to develop a retail complex on Lot G at Kuala Lumpur Sentral owned by Promising Quality Sdn Bhd (PQSB). Jewel Surprises Sdn Bhd, the joint-venture company, had entered into an agreement with PQSB to lease the retail complex for 99 years, MRCB said in a statement.

(23-1-2008 Bernama)

MRCB Set Up Joint Venture To Develop KL Sentral Land

MALAYSIAN Resources Corp Bhd (MRCB) and Pelaburan Hartanah Bumiputera Bhd (PHBB) have set up a joint-venture company, Jewel Surprises Sdn Bhd, to develop a retail complex and associated car park bays at Kuala Lumpur Sentral. The plot of land, known as Lot G, is owned by PHBB's wholly-owned subsidiary Promising Quality Sdn Bhd, which has entered into a lease agreement with Jewel Surprise to lease the retail complex and the car park bays for 99 years. This venture allows both parties to pool their resources and expertise to develop an integrated retail and office complex of 1.5 million gross floor area. The proposed retail complex is expected to add vibrancy to the overall development of Kuala Lumpur Sentral.

(23-1-2008 New Straits Times)