Malaysian Resources Corp. Bhd. · MYX:MRCB

Malaysian Resources Corp. Bhd — Q3 2018 Earnings Presentation

19 slides from Malaysian Resources Corp. Bhd's earnings presentation, Sep 30, 2018

  1. Slide 1: Analyst Briefing: Quarter ended 30 September 2018

    ANALYST BRIEFING Quarter ended 30 September 2018 www.mrcb.com

  2. Slide 2: Table of Contents

    Table of Contents MRCB Group Overview 3 Financial Performance 8 Business Model 4 Segmental Reporting: Overview 13 MRCB Financial Summary 6 Segmental Reporting: Property Development 14 YTD 2018 Highlights 7 & Investment Segmental Reporting: Engineering, Construction 17 & Environment

  3. Slide 3: 1. MRCB Group Overview

    1. MRCB Group Overview 2 core activities: Property Development & Investment Engineering, Construction & Environment Other activities: Infrastructure and Concession Facilities Management & Parking Pioneered Transport Oriented Development (“TOD”) in Malaysia Property investment is conducted through 27

  4. Slide 4: 2. Business Model – Property Development & Investment

    2. Business Model – Property Development & Investment Bespoke Buildings Pre-let on Long Term Leases • Purpose built buildings • Carries more value due to customisation • Profits from lease income and possible disposal in the future Bespoke Buildings for Sale • Pre-sell to owner occupiers or other pu

  5. Slide 5: 2. Business Model – Engineering, Construction & Environment

    2. Business Model – Engineering, Construction & Environment Infrastructure Commercial Environment Transmission and Residential Lines ▪ Largest Bumiputera construction company ▪ Full service and autonomous construction company ▪ Strong track record and extensive engineering skillsets which allows us

  6. Slide 6: 3. MRCB Financial Summary

    3. MRCB Financial Summary MRCB 3Q FY2018 Overview MRCB Segment Overview Property Engineering & Others Revenue PBT Development Construction RM 1,497 mil. RM 114 mil. 37% y-o-y 1% y-o-y Revenue RM mil. 883 561 53 37% y-o-y PAT Net Gearing RM 76 mil. Revenue 0.71 x Contribution 59% 37% 4% 2% y-o-y Oper

  7. Slide 7: 4. YTD 2018 Highlights

    4. YTD 2018 Highlights Revenue (RM mil.) Operating Profit (RM mil.) PBT (RM mil.) EPS (sen) 37% 44% 1% 42% 2,375 215 115 2.91 1,497 1.70 121 114 YTD 2017 YTD 2018 YTD 2017 YTD 2018 YTD 2017 YTD 2018 YTD 2017 YTD 2018 Key Highlights • Higher revenue recognised in YTD’17 mainly due to construction rev

  8. Slide 8: 5. Financial Performance – Profit & Loss

    5. Financial Performance – Profit & Loss Y-o-Y Y-o-Y RM' Million Q3 FY18 Q3 FY17 9M 2018 9M 2017 Growth % Growth % Revenue 664 1,130 (41.3)% 1,497 2,375 (37.0)% Other Operating Income 10 8 24.9% 37 40 (8.3)% Total Revenue 674 1,138 (40.8)% 1,533 2,415 (36.5)% Operating Expenses (631) (1,051) (39.9)%

  9. Slide 9: 5. Financial Performance – Quarterly Analysis

    5. Financial Performance – Quarterly Analysis Revenue Operating Profit and Margin 1,130 116 664 86 30.8% 54 378 428 405 13.3% 42 24 6.4% 7.7% 5.6% Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 PBT and Margin EPS (sen) 125 4.50 33.1% 54 43 31 10.6% 40 7.1% 6.10% 1.39 4.7% 0.76 0.49 0.45

  10. Slide 10: 5. Financial Performance – Balance Sheet

    5. Financial Performance – Balance Sheet NAV Per Share (sen) RM' Million Q3 FY18 Q2 FY18 136.5 Total Assets 109.8 110.3 111.1 109.3 Current Assets 4,608 4,720 Non-Current Assets 5,861 5,968 Total Assets 10,469 10,688 Total Liabilities Current Liabilities 4,143 3,893 Non-Current Liabilities 1,439 1,8

  11. Slide 11: 5. Financial Performance – Borrowings

    5. Financial Performance – Borrowings Leverage Profile (RM mil.) Q3 2018 Q2 2018 Net Debt and Gearing Debt Short Term Borrowings 2,850 2,581 1.10x 0.71x Long Term Borrowings 909 1,311 0.69x 3,479 HP creditors 2 2 3,403 0.58x Total Debt 3,761 3,894 0.53x 2,882 3,439 2,606 Less: Cash and Cash Equivale

  12. Slide 12: 5. Financial Performance – Reduction in Borrowings

    5. Financial Performance – Reduction in Borrowings Post EPF’s subscription EDL Concession Disposal of Disposal of RM million 3Q FY2018 in Termination Ascott Celcom Bkt Jalil Sentral Bank Borrowings 2,738 2,738 1,600 1,600 1,600 EDL Financing 1,023 - - - - Total Borrowings 3,761 2,738 1,600 1,600 1,6

  13. Slide 13: 6. Segmental Reporting: Overview

    6. Segmental Reporting: Overview Revenue Trend – RM1,497 mil. Revenue Contribution Analysis 2,375 4% E&C 1,497 1,614 883 Property 561 620 37% Development 53 141 YTD’18 YTD’17 YTD’18 YTD’17 YTD’18 YTD’17 YTD’18 YTD’17 59% Others** Group E&C Property Others** Development Segmental Profit Trend – RM126

  14. Slide 14: 7. Segmental Reporting: Property Development & Investment

    7. Segmental Reporting: Property Development & Investment Y-o-Y Y-o-Y RM' Million Q3 FY18 Q3 FY17 9M 2018 9M 2017 Growth % Growth % Revenue 469 170 176.0% 883 620 42.4% Segmental Profit 34 34 (0.6)% 89 112 (20.6)% Margin (%) 7.2% 20.0% 10.1% 18.0% Segmental Profit and Margin Performance Discussion C

  15. Slide 15: 7. Segmental Reporting: Property Development Projects

    7. Segmental Reporting: Property Development Projects Total sales of RM356 mil. YTD 2018 Property Sales YTD 2018 – RM356 mil. Unbilled Sales – RM1,626 mil. Project / Sales (RM' mil.) GDV % Sales YTD 2018 Unbilled Project / Sales (RM' mil.) Completion YTD 2018 Sales Residential Residential 1060 Carne

  16. Slide 16: 7. Segmental Reporting: Property Development Projects

    7. Segmental Reporting: Property Development Projects Land Size GDV Start Completion % Stake (Acres) RM' mil. Date Date Transport Oriented Developments KL Sentral: Lot F 5.70 2,993 74% 2018 2025 PJ Sentral Garden City 11.91 2,619 100% 2013 2022 Penang Sentral 22.65 2,865 100% 2015 2027 Cyberjaya Cit

  17. Slide 17: 8. Segmental Reporting: Engineering, Construction & Environment

    8. Segmental Reporting: Engineering, Construction & Environment Y-o-Y Y-o-Y RM' Million Q3 FY18 Q3 FY17 9M 2018 9M 2017 Growth % Growth % Revenue 177 916 (80.6)% 561 1,614 (65.2)% Segmental Profit 4 31 (87.8)% 45 47 (3.7)% Margin (%) 2.2% 3.4% 8.0% 2.9% Segmental Profit and Margin Performance Discus

  18. Slide 18: 8. Segmental Reporting: Engineering, Construction & Environment

    8. Segmental Reporting: Engineering, Construction & Environment Unbilled External Order Book – RM10,486 mil. RM'mil Contract Value Completion External Order Book Analysis Buildings: Desaru Convention Centre 60 85% Desa Desaru 220 90% Fee based Westin Desaru Resort 196 90% 3% Giant Hypermarket - Seta

  19. Slide 19: Malaysian Resources Corporation Berhad

    MALAYSIAN RESOURCES CORPORATION BERHAD Level 30, Menara Allianz Sentral, No. 203, Jalan Tun Sambanthan, Kuala Lumpur Sentral, 50470 Kuala Lumpur, Malaysia www.mrcb.com 19

Malaysian Resources Corporation Berhad — Q3 2018 Earnings Presentation on 6ix