Malaysian Resources Corp. Bhd. · MYX:MRCB
Malaysian Resources Corp. Bhd — Q4 2023 Earnings Presentation
24 slides from Malaysian Resources Corp. Bhd's earnings presentation, February 2024
Slide 1: Analyst Briefing - Quarter Ended 31 December 2023
ANALYST BRIEFING Quarter Ended 31 December 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 49% 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 12M FY2023 Overview MRCB Segment Overview Revenue Profit Before Tax Property Engineering & Others Development Construction RM 2,514 mil. RM 134 mil. (22)% y-o-y (13)% y-o-y Revenue 37% y-o-y RM mil. 712 1,737 66 Profit After Tax Net Gearing RM 101 mil. 89% y-o-y 0.16x Rev
Slide 4: Key Highlights 12M FY2023 vs 12M FY2022
Key Highlights 12M FY2023 vs 12M FY2022 Revenue Operating Profit PBT EPS (RM mil.) (RM mil.) (RM mil.) (sen) (22)% (5)% (13)% 56% 248 154 3,205 2.26 2,514 1.45 235 134 FY2022 FY2023 FY2022 FY2023 FY2022 FY2023 FY2022 FY2023 Key Highlights • Lower Revenue and Profit in 12M FY2023, mainly due to the c
Slide 5: Profit & Loss
Financial Performance Profit & Loss Q4 (3M) 12M Y-o-Y Y-o-Y RM Million FY2023 FY2022 FY2023 FY2022 Growth % Growth % Revenue 669 834 (19.8)% 2,514 3,205 (21.6)% Other Operating Income 179 19 >100% 210 61 >100% Operating Expenses (747) (790) (5.5)% (2,489) (3,018) (17.5)% Operating Profit 100 63 59.3
Slide 6: Quarterly Analysis
Financial Performance Quarterly Analysis Revenue Operating Profit and Margin 834 742 15.0% 669 100 599 504 7.6% 9.2% 63 6.5% 48 6.7% 46 40 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q4'22 Q1'22 Q2'23 Q3'23 Q4'23 PBT and Margin EPS (sen) 11.9% 1.80 80 4.5% 38 2.8% 2.6% 3.7% 21 15 19 0.29 0.24 0.19 0.03 Q4'22 Q1'2
Slide 7: Balance Sheet
Financial Performance Balance Sheet RM Million 31 Dec 2023 31 Dec 2022 NAV Per Share* (sen) (audited) 102.8 Total Assets Current Assets 3,562 3,547 101.4 101.6 Non-Current Assets 5,448 5,681 100.9 100.9 Total Assets 9,010 9,228 Total Liabilities Current Liabilities 2,155 2,697 Q4'22 Q1'22 Q2'23 Q3'2
Slide 8: Borrowings
Financial Performance Borrowings Debt Profile (RM Million) 31 Dec 2023 31 Dec 2022 Net Debt and Gearing (audited) Debt 0.37x Short Term Borrowings 311 841 0.34x 0.32x 1,692 0.30x Long Term Borrowings 1,491 1,216 1,532 1,464 Total Debt 1,802 2,057 1,355 0.16x Less: Deposits, cash and bank balances 97
Slide 9: Segmental Reporting Overview
Segmental Reporting Overview Revenue Split – RM2,514 million Revenue Contribution Analysis 3% 3,205 FY2022 E&C 2,514 FY2023 2,234 1,737 28% Property Development 915 712 43 66 69% Others** Total E&C Property Others** Development Segmental Profit Split – RM225 million 241 225 FY2022 177 FY2023 149 70
Slide 10: Property Development & Investment
Segmental Reporting Property Development & Investment Q4 (3M) 12M Y-o-Y Y-o-Y RM Million FY2023 FY2022 FY2023 FY2022 Growth % Growth % Revenue 252 261 (3.3)% 712 915 (22.2)% Profit 113 52 >100% 149 177 (15.7)% Margin* (%) 44.8% 19.9% 20.9% 19.3% Profit and Margins Performance Discussion Contributed
Slide 11: Property Sales of RM831.3 Million
Segmental Reporting Property Development & Investment Property Sales of RM831.3 Million Total Project GDV % Sales Achieved* as at Sales** Breakdown YTD Project (RM’mil) 31 December 2023 2023 (RM’mil) Completed Projects Sentral Suites - Residential 1,535 94% 161.2 Sentral Suites - Commercial 102 76%
Slide 12: Total Unbilled Sales from Ongoing Projects
Segmental Reporting Property Development & Investment Total Unbilled Sales from Ongoing Projects of RM234.9 Million Breakdown of Unbilled Sales VISTA, Gold Coast Alstonia Revenue Lilium Recognised* Unbilled In FY2023 Sales** Project Construction Progress (RM’mil) (RM’mil) Residential Alstonia, Bukit
Slide 13: What We Have To Sell: RM0.5 Billion
Segmental Reporting Property Development & Investment What We Have To Sell: RM0.5 Billion (by Gross Development Cost) Unsold Projects Under Completed Unsold Units* Total Development RM95.5 million RM389.4 million RM484.9 million Breakdown of Completed Unsold Units (RM’ million) Completed 127.3 Unsol
Slide 14: Property Projects in the Pipeline – RM7.1 Billion
Segmental Reporting Property Development & Investment Property Projects in the Pipeline – RM7.1 Billion* 2023 Launches GDV Units VISTA, Surfer’s Paradise, Gold Coast 2Q** ~1,511 (AUD504 mil) 280 Kwasa Sentral Plot F (Residensi Tujuh) 4Q RM384 mil 573 Total 2023 RM1,895 mil 853 units 2024 Launches Th
Slide 15: VISTA, Surfers Paradise, Gold Coast
VISTA, Surfers Paradise, Gold Coast GDV AUD 504 mil. (~RM1.5 bil.) Land 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 Jan 2024 Units 16% 15 15
Slide 16: VISTA, Surfers Paradise, Gold Coast
VISTA, Surfers Paradise, Gold Coast 16 16
Slide 17: 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 17 17
Slide 18: Residensi Tujuh
Residensi Tujuh I ED Meal I Mi lcd 1 MRCB SETTING THE STANDARD 18
Slide 19: 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 78 Launch Acres Units 2024 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 GDV NZD 137 mil. (~RM0.4 bil.) Location A Government heritage building located next to The Symphony Centre Targeted Development 2025 21
Slide 22: Engineering, Construction & Environment
Segmental Reporting Engineering, Construction & Environment Q4 (3M) 12M Y-o-Y Y-o-Y RM Million FY2023 FY2022 FY2023 FY2022 Growth % Growth % Revenue 399 559 (28.6)% 1,737 2,234 (22.3)% Profit (0) 9 (103.5)% 87 70 24.9% Margin* (%) (0.1)% 1.5% 5.0% 3.1% Profit and Margins Performance Discussion Contr
Slide 23: Engineering, Construction & Environment: Order Book
Segmental Reporting Engineering, Construction & Environment: Order Book Unbilled External Order Book – RM15,717 mil.1 as at 31 December 2023 External Order Book Analysis Contract Value Progress 2 External Contracts (RM Million) Buildings: Fee-based 5% FINAS 220 19% Infra Infrastructure: Buildings 45
Slide 24: 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 — Q4 2023 Earnings Presentation on 6ix