Malaysian Resources Corp. Bhd. · MYX:MRCB
Malaysian Resources Corp. Bhd — Q1 2024 Earnings Presentation
21 slides from Malaysian Resources Corp. Bhd's earnings presentation, Mar 31, 2024
Slide 1: Analyst Briefing: Quarter Ended 31 March 2024
ANALYST BRIEFING Quarter Ended 31 March 2024 www.mrcb.com 11 An artist’s impression of the 9 Seputeh’s Promenade Boulevard
Slide 2: MRCB Key ESG Updates
MRCB Key ESG Updates Climate Change & the Environment Good Corporate Governance Target: Net Zero Carbon (Scope 1 and Scope 2) by 2040 Target: Best-In-Class Practices & Disclosures 53% Institutionalising Improving internal processes reduction in Scope 1 and Scope 2 carbon i.e. Sustainable Design Poli
Slide 3: MRCB Financial Summary
MRCB Financial Summary MRCB 3M FY2024 Overview MRCB Segment Overview Revenue Profit Before Tax Property Engineering & Others Development Construction RM 476 mil. RM 19 mil. (36)% y-o-y (8)% y-o-y Revenue 37% y-o-y RM mil. 98 360 18 Profit After Tax Net Gearing RM 3 mil. (66)% y-o-y 0.20x Revenue Con
Slide 4: Key Highlights: 3M FY2024 vs 3M FY2023
Key Highlights 3M FY2024 vs 3M FY2023 Revenue Operating Profit PBT EPS (RM mil.) (RM mil.) (RM mil.) (sen) (36)% (15)% (8)% (63)% 48 21 0.19 742 476 0.07 41 19 1Q2023 1Q2024 1Q2023 1Q2024 1Q2023 1Q2024 1Q2023 1Q2024 Key Highlights • Lower Revenue and Profit in Q1 due the completion of Sentral Suites
Slide 5: Profit & Loss
Financial Performance Profit & Loss 3M Y-o-Y RM Million FY2024 FY2023 Growth % Revenue 476 742 (35.8)% Other Operating Income 10 12 (12.6)% Operating Expenses (446) (706) (36.8)% Operating Profit 41 48 (15.5)% Operating Profit Margin (%) 8.5% 6.5% Finance costs (24) (28) (14.3)% Share of results of
Slide 6: Quarterly Analysis
Financial Performance Quarterly Analysis Revenue Operating Profit and Margin 742 599 692 14.5% 504 476 100 9.2% 8.5% 6.5% 6.7% 48 40 46 41 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 PBT and Margin EPS (sen) 11.9% 1.80 80 2.8% 4.0% 21 2.6% 3.7% 15 19 19 0.24 0.19 0.07 0.03 Q1'23 Q2'2
Slide 7: Balance Sheet
Financial Performance Balance Sheet RM Million 31 Mar 2024 31 Dec 2023 NAV Per Share* (sen) (audited) Total Assets 102.8 102.9 Current Assets 3,331 3,382 101.6 Non-Current Assets 5,498 5,463 100.9 100.9 Total Assets 8,829 8,845 Total Liabilities Current Liabilities 2,123 2,129 Q1'23 Q2'23 Q3'23 Q4'2
Slide 8: Borrowings
Financial Performance Borrowings Debt Profile (RM Million) 31 Mar 2024 31 Dec 2023 Net Debt and Gearing (audited) Debt 0.37x 0.34x Short Term Borrowings 365 311 1,692 0.30x Long Term Borrowings 1,473 1,491 1,532 Total Debt 1,837 1,802 1,355 0.16x 0.20x Less: Deposits, cash and bank balances 920 972
Slide 9: Overview
Segmental Reporting Overview Revenue Split – RM476 million Revenue Contribution Analysis 4% 742 1Q2023 E&C 476 458 1Q2024 20% 360 Property Development 268 98 16 18 76% Others** Total E&C Property Others** Development Segmental Profit Split – RM41 million 45 41 1Q2023 33 1Q2024 18 11 12 7 4 Total E&C
Slide 10: Property Development & Investment
Segmental Reporting Property Development & Investment 3M Y-o-Y RM Million FY2024 FY2023 Growth % Revenue 98 268 (63.4)% Profit 11 33 (66.3)% Margin* (%) 11.5% 12.4% Profit and Margins Performance Discussion Contributed 20% of Group revenue 40.7% Revenue came from sales of completed unsold units in S
Slide 11: Property Sales of RM268.1 Million
Segmental Reporting Property Development & Investment Property Sales of RM268.1 Million Total Project GDV % Sales Achieved* as at Sales** Breakdown YTD Project (RM’mil) 31 March 2024 2024 (RM’mil) Completed Projects Sentral Suites - Residential 1,535 97% 52.1 Sentral Suites – Commercial (incl. retai
Slide 12: Total Unbilled Sales from Ongoing Projects
Segmental Reporting Property Development & Investment Total Unbilled Sales from Ongoing Projects of RM387.3 Million Breakdown of Unbilled Sales Residensi Tujuh VISTA, Gold Coast Revenue Alstonia Recognised* Unbilled Lilium YTD 2024 Sales** Project Construction Progress (RM’mil) (RM’mil) Residential
Slide 13: What We Have To Sell in Malaysia
Segmental Reporting Property Development & Investment What We Have To Sell in Malaysia: RM0.5 Billion (by Gross Development Cost) Unsold Projects Under Completed Unsold Units* Total Development RM122.7 million RM347.5 million RM470.2 million Breakdown of Completed Unsold Units (RM’ million) 109.6 Co
Slide 14: VISTA, Surfers Paradise, Gold Coast
VISTA, Surfers Paradise, Gold Coast GDV AUD 504 mil. (~RM1.5 bil.) Location 26 Vista Street, Surfers Paradise, Gold Coast, Australia 51 Launched in Storeys April 2023 280 Sales rate in GDV as of April 2024 Units 29% 14 14
Slide 15: VISTA, Surfers Paradise, Gold Coast
VISTA, Surfers Paradise, Gold Coast 15 15
Slide 16: Residensi Tujuh, Kwasa Damansara City Center
Residensi Tujuh, Kwasa Damansara City Center GDV RM385 mil. Location Kwasa Damansara City Centre, a neo- urban city featuring a 94-acre integrated development that will feature world-class infrastructures. 29 Launched in Storeys Sept 2023 573 Sales rate in GDV as of April 2024 Units 10% 16 16
Slide 17: Residensi Tujuh
Residensi Tujuh I ED Meal I Mi lcd 1 MRCB SETTING THE STANDARD 17
Slide 18: Property Projects in the Pipeline
Segmental Reporting Property Development & Investment Property Projects in the Pipeline – RM7.2 Billion* 2023 Launches GDV Units VISTA, Surfer’s Paradise, Gold Coast April 2023 ~RM1,511 mil (AUD504 mil) 280 Kwasa Sentral Plot F (Residensi Tujuh) September 2023 RM385 mil 573 Total 2023 RM1,896 mil 85
Slide 19: Engineering, Construction & Environment
Segmental Reporting Engineering, Construction & Environment 3M Y-o-Y RM Million FY2024 FY2023 Growth % Revenue 360 458 (21.4)% Profit 18 7 145.9% Margin* (%) 4.9% 1.6% Profit and Margins Performance Discussion Contributed 76% of Group Revenue from: LRT3 and Muara Sg Pahang Phase 3 project 11.2% Lowe
Slide 20: Engineering, Construction & Environment: Order Book
Segmental Reporting Engineering, Construction & Environment: Order Book Unbilled External Order Book – RM15,280 mil.1 as at 31 March 2024 External Order Book Analysis Contract Value Progress 2 External Contracts (RM Million) Fee-based Buildings: 5% FINAS 220 25% Buildings Infra Infrastructure: 1% 44
Slide 21: Malaysian Resources Corporation Berhad contact details
An artist’s impression of Kwasa Sentral (GDV RM11 million) MALAYSIAN RESOURCES CORPORATION BERHAD (7994-D) Level 30, Menara Allianz Sentral, No. 203, Jalan Tun Sambanthan, Kuala Lumpur Sentral, 50470 Kuala Lumpur, Malaysia Tel: 603 2786 8080 / 603 2859 7070 Fax: 603 2780 7988 www.mrcb.com MRCBGroup
Malaysian Resources Corporation Berhad — Q1 2024 Earnings Presentation on 6ix