Malaysian Resources Corp. Bhd. · MYX:MRCB
Malaysian Resources Corp. Bhd — Q3 2023 Earnings Presentation
25 slides from Malaysian Resources Corp. Bhd's earnings presentation, November 2023
Slide 1: Analyst Briefing – Quarter Ended 30 September 2023
ANALYST BRIEFING Quarter Ended 30 September 2023 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 9M FY2023 Overview MRCB Segment Overview Revenue Profit Before Tax Property Engineering & Others Development Construction RM 1,845 mil. RM 55 mil. (22)% y-o-y (53)% y-o-y Revenue 37% y-o-y RM mil. 460 1,338 48 Profit After Tax Net Gearing RM 21 mil. (48)% y-o-y 0.30x Reve
Slide 4: Key Highlights: 9M FY2023 vs 9M FY2022
Key Highlights 9M FY2023 vs 9M FY2022 Revenue Operating Profit PBT EPS (RM mil.) (RM mil.) (RM mil.) (sen) (22)% (27)% (53)% (59)% 185 117 1.16 2,371 134 1,845 55 0.47 YTD 2022 YTD 2023 YTD 2022 YTD 2023 YTD 2022 YTD 2023 YTD 2022 YTD 2023 Key Highlights • Lower Revenue and Profit in 9M FY2023 mainl
Slide 5: Profit & Loss
Financial Performance Profit & Loss Q3 (3M) 9M Y-o-Y Y-o-Y RM Million FY2023 FY2022 FY2023 FY2022 Growth % Growth % Revenue 504 860 (41.4)% 1,845 2,371 (22.2)% Other Operating Income 10 6 64.5% 31 41 (24.7)% Operating Expenses (467) (787) (40.6)% (1,742) (2,228) (21.8)% Operating Profit 46 79 (41.2)
Slide 6: Quarterly Analysis
Financial Performance Quarterly Analysis Revenue Operating Profit and Margin 860 834 742 9.2% 9.2% 7.6% 599 79 6.5% 6.7% 504 63 48 40 46 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 PBT and Margin EPS (sen) 6.6% 0.53 57 4.5% 0.29 2.8% 3.7% 0.24 38 2.6% 0.19 19 21 15 0.03 Q3'22 Q4'22 Q
Slide 7: Tax Analysis – Q3 2023
Financial Performance Tax Analysis – Q3 2023 % RM(‘million) PBT CY Tax Over/(Under) DTA Tax Expense Tax over PBT In Malaysia Profit Generating Companies 165 (59) (0.1) 15 (44) 26% Loss Generating Companies with DTA (33) - (0.2) 7 8 23% Loss Generating Companies with Tax (8) (3) (0.5) (0.3) (4) (51)%
Slide 8: Balance Sheet
Financial Performance Balance Sheet RM Million 30 Sept 2023 31 Dec 2022 NAV Per Share* (sen) (audited) Total Assets Current Assets 3,250 3,547 101.6 101.4 Non-Current Assets 5,689 5,681 101.1 Total Assets 8,939 9,228 100.9 100.9 Total Liabilities Current Liabilities 2,160 2,697 Q3'22 Q4'22 Q1'23 Q2'
Slide 9: Borrowings
Financial Performance Borrowings Debt Profile (RM Million) 30 Sept 2023 31 Dec 2022 Net Debt and Gearing (audited) Debt 0.37x 0.37x 0.34x Short Term Borrowings 459 841 0.32x 1,692 1,671 0.30x Long Term Borrowings 1,492 1,216 1,464 1,532 Total Debt 1,951 2,057 1,355 Less: Deposits, cash and bank bala
Slide 10: Segmental Reporting Overview
Segmental Reporting Overview Revenue Split – RM1,845 million Revenue Contribution Analysis 3% 2,371 9M 2022 E&C 1,845 1,675 9M 2023 1,338 25% Property Development 653 460 43 48 72% Others** Total E&C Property Others** Development Segmental Profit Split – RM125 million 182 9M 2022 125 125 9M 2023 88
Slide 11: Property Development & Investment
Segmental Reporting Property Development & Investment Q3 (3M) 9M Y-o-Y Y-o-Y RM Million FY2023 FY2022 FY2023 FY2022 Growth % Growth % Revenue 90 322 (72.0)% 460 654 (29.7)% Profit 3 81 (96.6)% 36 125 (71.4)% Margin* (%) 3.0% 25.3% 7.8% 19.1% Profit and Margins Performance Discussion Contributed 25%
Slide 12: Property Sales of RM459.4 Million
Segmental Reporting Property Development & Investment Property Sales of RM459.4 Million Total Project GDV % Sales Achieved* as at Sales** Breakdown YTD Project (RM’mil) 30 September 2023 2023 (RM’mil) Completed Projects Sentral Suites - Residential 1,535 88% 62.7 Sentral Suites - Commercial 102 51%
Slide 13: Total Unbilled Sales from Ongoing Projects
Segmental Reporting Property Development & Investment Total Unbilled Sales from Ongoing Projects of RM33.6 Million Breakdown of Unbilled Sales Alstonia Lilium Revenue Recognised* Unbilled In FY2023 Sales** Project Construction Progress (RM’mil) (RM’mil) Residential 31% Alstonia, Bukit Rahman Putra 8
Slide 14: What We Have To Sell: RM0.6 Billion
Segmental Reporting Property Development & Investment What We Have To Sell: RM0.6 Billion (by Gross Development Cost) Unsold Projects Under Completed Unsold Units* Total Construction RM48.4 million RM554.6 million RM603.0 million Breakdown of Completed Unsold Units (RM’ million) Completed 177.9 Unso
Slide 15: Property Projects in the Pipeline – RM6.8 Billion
Segmental Reporting Property Development & Investment Property Projects in the Pipeline – RM6.8 Billion* 2023 Launches GDV Units VISTA, Surfer’s Paradise, Gold Coast 2Q** ~1,200 (AUD391 mil) 280 Kwasa Sentral Plot F (Residensi Tujuh) 4Q RM384 mil 573 Total 2023 RM1,584 mil 853 units 2024 Launches Th
Slide 16: VISTA, Surfers Paradise, Gold Coast
VISTA, Surfers Paradise, Gold Coast GDV AUD 391 mil. (~RM1.2 bil.) Purchase price AUD 17 mil. (~RM50 mil.) Location 26 Vista Street, Surfers Paradise, Gold Coast, Australia 0.766 Launched in Acres April 2023 280 Sales rate as of October 2023 Units 12% 16 16
Slide 17: VISTA, Surfers Paradise, Gold Coast
VISTA, Surfers Paradise, Gold Coast 17 17
Slide 18: Residensi Tujuh, Kwasa Damansara City Center
Residensi Tujuh, Kwasa Damansara City Center GDV RM384 mil. Location Kwasa Damansara City Centre, a neo- urban city featuring a 94-acre integrated development that will feature world-class infrastructures. Launched in 29 573 Sept Storeys Units 2023 18 18
Slide 19: Residensi Tujuh
Residensi Tujuh I ED Meal I Mi lcd 1 MRCB SETTING THE STANDARD 19
Slide 20: The Symphony Centre, Auckland City Center
The Symphony Centre, Auckland City Center GDV NZD 452 mil. (~RM1.3 bil.) Location Next to Aotea Square and above the future Aotea Station in mid-town CBD, at the intersection of Mayoral Drive and Wellesley Street Targeted 1.08 77 Launch Acres Units 2024 20
Slide 21: The Symphony Centre, Auckland City Center
The Symphony Centre, Auckland City Center 21
Slide 22: Bledisloe House, Auckland City Center
Bledisloe House, Auckland City Center GDV NZD 137 mil. (~RM0.4 bil.) Location A Government heritage building located next to The Symphony Centre Targeted Development 2024 22
Slide 23: Engineering, Construction & Environment
Segmental Reporting Engineering, Construction & Environment Q3 (3M) 9M Y-o-Y Y-o-Y RM Million FY2023 FY2022 FY2023 FY2022 Growth % Growth % Revenue 397 523 (23.9)% 1,338 1,675 (20.1)% Profit 45 6 706.5% 88 61 43.1% Margin* (%) 11.2% 1.1% 6.6% 3.7% Profit and Margins Performance Discussion Contribute
Slide 24: Engineering, Construction & Environment: Order Book
Segmental Reporting Engineering, Construction & Environment: Order Book Unbilled External Order Book – RM16,089 mil.1 as at 30 September 2023 External Order Book Analysis Contract Value Progress 2 External Contracts (RM Million) Buildings: Fee-based 5% FINAS 220 13% Infra Infrastructure: Buildings 4
Slide 25: 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
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