Malaysian Resources Corp. Bhd. · MYX:MRCB
Malaysian Resources Corp. Bhd — Q1 2023 Earnings Presentation
22 slides from Malaysian Resources Corp. Bhd's earnings presentation, Mar 31, 2023
Slide 1: Analyst Briefing Quarter Ended 31 March 2023
ANALYST BRIEFING Quarter Ended 31 March 2023 SN i wom 42 n puteh’s Promenade Boulevard
Slide 2: Climate Change & the Environment, Social, Good Corporate Governance
Climate Change & the Environment Good Corporate Governance Target: Net Zero Carbon (Scope 1 and Scope 2) by 2040 Target: Best-In-Class Practices & Disclosures Social Target: World Class Work Practices & Community Development 2
Slide 3: MRCB Financial Summary
MRCB Financial Summary MRCB 3M FY2023 Overview MRCB Segment Overview Revenue Profit Before Tax Property Engineering & Others Development Construction RM 742 mil. RM 21 mil. (8)% y-o-y (35)% y-o-y Revenue 37% y-o-y RM mil. 268 458 16 Profit After Tax Net Gearing RM 9 mil. (39)% y-o-y 0.37x Revenue Co
Slide 4: Key Highlights
Key Highlights Revenue Operating Profit PBT EPS (RM mil.) (RM mil.) (RM mil.) (sen) (8)% (8)% (35)% (39)% 32 0.31 811 52 21 0.19 742 48 1Q2022 1Q2023 1Q2022 1Q2023 1Q2022 1Q2023 1Q2022 1Q2023 • The lower Revenue and Profit in 1Q FY2023 was mainly due to a lower contribution from the ECE division as
Slide 5: Financial Performance
Financial Performance 3M Y-o-Y RM Million FY2022 FY2021 Growth % Revenue 742 811 (8.4)% Other Operating Income 12 7 56.6% Operating Expenses (706) (766) (7.8)% Operating Profit 48 52 (8.4)% Operating Profit Margin (%) 6.5% 6.5% Finance costs (28) (23) 20.0% Share of results of associates 2 4 (51.1)%
Slide 6: Financial Performance
Financial Performance Revenue Operating Profit and Margin 811 860 834 9.2% 700 742 7.7% 7.6% 6.5% 79 6.5% 63 52 54 48 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 PBT and Margins EPS (sen) 6.6% 0.53 57 4.5% 3.9% 4.0% 38 2.8% 0.31 0.32 0.29 32 28 21 0.19 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q
Slide 7: Financial Performance
Financial Performance RM Million 31 Mar 2023 31 Dec 2022 NAV Per Share* (sen) (audited) Total Assets 101.6 Current Assets 4,104 3,547 101.3 101.4 Non-Current Assets 5,678 5,681 101.1 Total Assets 9,782 9,228 100.6 Total Liabilities Current Liabilities 2,793 2,697 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Non-Cu
Slide 8: Financial Performance
Financial Performance Debt Profile (RM Million) 31 Mar 2023 31 Dec 2022 Net Debt and Gearing Debt Short Term Borrowings 907 841 0.29x 0.37x 0.32x Long Term Borrowings 1,671 1,216 0.29x 1,692 0.30x 1,671 Total Debt 2,578 2,057 1,344 1,464 1,306 Less: Deposits, cash and bank balances 855 534 Other inv
Slide 9: Segmental Reporting
Segmental Reporting Revenue Split – RM742 mil. Revenue Contribution Analysis 2% 811 1Q2022 E&C 742 613 1Q2023 458 Property 268 36% 187 Development 11 16 62% Others** Total E&C Property Others** Development Segmental Profit Split – RM45 mil. 51 45 1Q2022 33 1Q2023 26 21 7 4 5 Total E&C Property Other
Slide 10: Segmental Reporting
Segmental Reporting 3M Y-o-Y RM Million FY2023 FY2022 Growth % Revenue 268 187 43.6% Profit 33 21 58.2% Margin* (%) 12.4% 11.3% Profit and Margins Performance Discussion Contributed 36% of Group revenue, largely from Sentral Suites in KL Sentral, the 9 Seputeh mixed residential development in Jalan
Slide 11: Property Sales of RM85.1 Million
Segmental Reporting Property Sales of RM85.1 Million Total Project GDV % Sales Achieved* as at Project Sales** Breakdown YTD 2023 (RM’mil) (RM’mil) 31 Mar 2023 Completed Projects Sentral Suites - Residential 1,535 85% 13.0 Sentral Suites - Commercial 102 42% 5.2 VIVO 9 Seputeh – Residential 982 84%
Slide 12: Total Unbilled Sales of RM220.3 Million
Segmental Reporting Total Unbilled Sales of RM220.3 Million Breakdown of Unbilled Sales TRIA Alstonia Revenue Recognised* Unbilled Amaryllis Lilium In FY2023 Sales** Project Construction Progress (RM’mil) (RM’mil) Residential 18% TRIA 9 Seputeh 95.5% 53.7 167.0 1% Alstonia, Bukit Rahman Putra 61.2%
Slide 13: What We Have To Sell: RM0.7 Billion
Segmental Reporting What We Have To Sell: RM0.7 Billion (by Gross Development Cost) Unsold Projects Under Completed Unsold Units* Total Construction RM283.7 mil. RM383.6 mil. RM667.3 mil. Breakdown of Completed Unsold Units (RM’ mil.) 161.6 110.7 Projects Under Completed 84.9 Construction Unsold Uni
Slide 14: VISTA, Surfers Paradise, Gold Coast
VISTA, Surfers Paradise, Gold Coast Acres Launched Units 14 14
Slide 15: VISTA, Surfers Paradise, Gold Coast
VISTA, Surfers Paradise, Gold Coast 15 15
Slide 16: Segmental Reporting
Segmental Reporting 3M Y-o-Y RM Million FY2023 FY2022 Growth % Revenue 458 613 (25.1)% Profit 7 26 (71.9)% Margin* (%) 1.6% 4.2% Profit and Margins Performance Discussion Contributed 62% of Group Revenue, largely from: LRT3, Muara Sg Pahang Phase 3 and PR1MA 5.6% projects. 26 30 Lower revenue and pr
Slide 17: Unbilled External Order Book – RM16,951 mil
Segmental Reporting Unbilled External Order Book – RM16,951 mil.1 as at 31 Mar 2023 External Order Book Analysis Contract Value Progress 2 External Contracts (RM Million) Buildings: Fee based 5% PR1MA Brickfields 276 63% Infra Buildings 2% FINAS 170 13% 44% Infrastructure: SUKE - CA2 Package 317 86%
Slide 18: MRCB's Strategy
MRCB’s Strategy • • • • • • • 18 18
Slide 19: The Symphony Centre, Auckland City Center
The Symphony Centre, Auckland City Center Targeted Launch Acres Units 19
Slide 20: The Symphony Centre, Auckland City Center
The Symphony Centre, Auckland City Center 20
Slide 21: Bledisloe House, Auckland City Center
Bledisloe House, Auckland City Center Targeted Development after the construction completion of the Aotea Central Station 21
Slide 22: Kwasa Sentral artist's impression and contact details
An artist's impression of Kwasa Sentral (GDV RMI 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 28597070 Fax: 603 2780 7988 www.mreb.com Ei MRCBGroup
Malaysian Resources Corporation Berhad — Q1 2023 Earnings Presentation on 6ix