Malaysian Resources Corp. Bhd. · MYX:MRCB
Malaysian Resources Corp. Bhd — Q2 2017 Earnings Presentation
13 slides from Malaysian Resources Corp. Bhd's earnings presentation, Aug 29, 2017
Slide 1: Analyst Briefing: Quarter ended 30 June 2017
Analyst Briefing Quarter ended 30 June 2017 29 August 2017
Slide 2: Significant growth in first half of 2017
‘Significant growth in first half of 2017’ Year on Year • Revenue up 55% to RM1.28 billion vs 1H 2016. • PBT down 31% to RM63.4 million vs 1H 2016. • PBT excluding gains of RM44.4 million in 1H 2016, up 21% to RM58.0 million. • Higher PBT mainly due to lower finance costs (as a result of de-gearing
Slide 3: Income Statement Summary
Income Statement Summary (RM'000) 1H '17 1H '16 Change (%) Revenue 1,281,373 825,206 55.3% Profit from operations (EBIT) 130,344 174,093 -25.1% Finance Costs (72,559) (91,125) 20.4% Share of JVs (net of tax) 3,879 2,415 60.6% Share of associates (net of tax) 1,780 7,032 -74.7% Profit before tax 63,4
Slide 4: Balance Sheet Summary
Balance Sheet Summary (RM'000) As at 30 Jun 2017 As at 31 Mar 2017 Current Assets 4,207,294 3,332,852 Current Liabilities 2,046,600 2,122,852 Current Ratio (times) 2.0 1.6 T otal borrowings 4,122,763 3,433,297 Deposit, bank & cash balances (1,125,860) (671,982) Net debt 2,996,903 2,761,315 Share cap
Slide 5: Breakdown of Group Borrowings
Breakdown of Group Borrowings (RM'000) As at 30 Jun 2017 As at 31 Mar 2017 Short term 662,054 842,675 Long term 3,457,308 2,587,619 HP creditors 3,400 3,003 Total borrowings 4,122,762 3,433,297 Less: cash & bank balances 1,125,860 671,982 Net borrowings 2,996,902 2,761,315 T otal equity 3,135,332 3,
Slide 6: Quarterly Segmental Profit
Quarterly Segmental Profit (RM'000) Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q2 16 +/- Property Development & Investment ("Property") 90,435 70,459 236,437 50,139 29,667 90,435 (60,768) Engineering, Construction & Environment ("E&C") 1,831 7,027 1,587 1,254 14,029 1,831 12,198 Infrastructure 19,536 13,737 12,1
Slide 7: Property Development & Investment Review
Property Development & Investment Review • Revenue up 29% to RM486.5 million in 1H 2017 vs RM376.8 million in 1H 2016. • Profit down by 49% to RM79.8 million vs RM157.8 million in 1H 2016. Higher profit in 2016 was due to gain from disposal of non-core assets of RM44.4 million and higher contributio
Slide 8: Property Sales Achieved in 2017
Property Sales Achieved in 2017 Project / Sales (RM'mil) GDV % Sales 1H 2017 2017 launches: 1060 Carnegie 305 60% 182 Kalista (Bukit Rahman Putra) 101 32% 32 Sentral Suites (Tower 1, 2 & 3) 1,529 42% 649 Total 1,935 863 Other projects: 9 Seputeh: - VIVO (Parcel C) 952 77% 24 - Parcel B 566 0% 0 Sent
Slide 9: Unbilled Sales
Unbilled Sales Project / Revenue RM'mil Completion 1H 2017 Unbilled Sales Sentral Residences 88% 95 0 Q Sentral 100% 16 0 9 Seputeh / Parcel C 44% 76 362 9 Seputeh / Parcel B 0% 0 0 PJ Sentral / MBSB 33% 9 160 PJ Sentral / MYIPO 28% 2 181 349, Sentral Suites 5% 29 506 Bukit Rahman Putra (Kalista) 6%
Slide 10: Total Property Developments Projects
Total Property Developments Projects Land Size GDV Start Completion (Acres) (RM ‘mil) Date Date Transport Oriented Developments KL Sentral: Sentral Residences 2.35 1,330 2011 2017 KL Sentral: Lot F 5.70 2,993 2018 2025 PJ Sentral Garden City 11.91 2,619 2013 2022 Penang Sentral 22.65 2,865 2015 2027
Slide 11: Engineering, Construction & Environment Review
Engineering, Construction & Environment Review • Revenue up 110% to RM698.9 million in 1H 2017 vs RM332.6 million in 1H 2016 due to National Sports Complex project. • Profit up 415% to RM15.3 million in 1H 2017 vs RM3.0 million in 1H 2016. • E&C contributed 55% of Group revenue – mainly from the Nat
Slide 12: Construction Order Book
Construction Order Book RM'mil Contract Value Completion Recognized Unbilled Sales NPE Bridge 127 60.12% 76 51 Johor Land T ower 188 61.32% 115 73 Aman Desaru 110 90.00% 99 11 Desaru Convention Centre 57 34.31% 20 37 Desa Desaru 217 36.92% 80 137 Westin Desaru Resort 203 38.66% 78 125 Giant Hypermar
Slide 13: Thank you
MCB Setting the Standard Thank you
Malaysian Resources Corporation Berhad — Q2 2017 Earnings Presentation on 6ix