Malaysian Resources Corp. Bhd. · MYX:MRCB
Malaysian Resources Corp. Bhd — Q2 2020 Earnings Presentation
18 slides from Malaysian Resources Corp. Bhd's earnings presentation, Jun 30, 2020
Slide 1: Analyst Briefing
ANALYST BRIEFING Quarter Ended 30 June 2020 www.mrcb.com 11
Slide 2: Table of Contents
Table of Contents 3 Our Response To COVID-19 4 MRCB Financial Summary 5 Key Highlights 6 Financial Performance 10 Segmental Reporting: Overview 11 Segmental Reporting: Property Development & Investment 16 Segmental Reporting: Engineering, Construction & Environment 2
Slide 3: Our Response To COVID-19
Our Response To COVID-19 Ensuring A Sustainable Business Immediate Response Long-term Response to COVID-19 Impact Activated Business Continuity Plan Revisit the Group’s Strategy • Work-from-home implemented seamlessly • Review upcoming launches • Work at all sites resumed upon implementation of CMCO
Slide 4: MRCB Financial Summary
MRCB Financial Summary MRCB 1H FY2020 Overview MRCB Segment Overview Revenue Loss Before Tax Property Engineering & Others Development RM 593 mil. RM (195) mil. Construction 25% y-o-y 1,170% y-o-y Revenue 37% y-o-y RM mil. 336 232 25 Loss After Tax Net Gearing RM (204) mil. 2,314% y-o-y 0.30x Revenu
Slide 5: Key Highlights: 1H FY2020 vs. 1H FY2019
Key Highlights 1H FY2020 vs. 1H FY2019 Revenue (RM mil.) Operating Profit (RM mil.) PBT (RM mil.) EPS (sen) 25% 538% 1,170% 0.34 1,459% 593 40 27* 18 475 7* 1H2019 1H2020 1H2019 1H2020 1H2019 1H2020 (175) 1H2019 1H2020 (195) Key Highlights (4.62) • The 25% increase in revenue in 1H2020 vs. 1H2019 co
Slide 6: Profit & Loss
Financial Performance Profit & Loss Q2 (3M) 1H Y-o-Y Y-o-Y RM Million FY2020 FY2019 FY2020 FY2019 Growth % Growth % Revenue 167 241 (31)% 593 475 25% Other Operating Income 10 66 (85)% 18 78 (77)% Total Revenue 177 307 (42)% 611 553 11% Operating Expenses 389 286 36% 786 513 53% Operating Profit/Los
Slide 7: Quarterly Analysis
Financial Performance Quarterly Analysis Revenue Operating Profit* and Margin* 472 426 21 25 27 36 373 8.4% 8.7% 6.7% 6.0% 241 167 (9) Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 (5.1)% PBT* and Margin* EPS* (sen) 10 14 20 27 0.35 4.6% 0.25 4.1% 3.8% 6.3% 0.14 0.06 (20) Q2'19 Q3'19 Q
Slide 8: Balance Sheet
Financial Performance Balance Sheet RM Million 30 Jun 2020 31 Mar 2020 NAV Per Share* (sen) 110.3 Total Assets 109.3 Current Assets 3,050 3,289 108.4 108.6 Non-Current Assets 5,189 5,175 103.1 Assets held for sale 78 78 Total Assets 8,317 8,542 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Total Liabilities Current
Slide 9: Borrowings
Financial Performance Borrowings Leverage Profile (RM Million) 30 Jun 2020 31 Mar 2020 Net Debt and Gearing Debt Short Term Borrowings 934 919 0.29x 0.30x Long Term Borrowings 1,001 1,003 HP creditors 0 1 1,381 Total Debt 1,935 1,923 0.27x 0.23x 1,413 1,312 1,291 0.25x Less: Deposits, cash and bank
Slide 10: Segmental Reporting: Overview
Segmental Reporting Overview Revenue Split – RM593 mil. Revenue Contribution Analysis 593 4% 1H2019 1H2020 E&C 475 336 39% 284 Property 231 Development 156 35 26 Others** 57% Group E&C Property Others** Development Segmental Profit Split – RM(174) mil. 1H2019 1H2020 48 47 23 2 (1) (1) Group E&C Prop
Slide 11: Property Development & Investment
Segmental Reporting Property Development & Investment Q2 (3M) 1H Y-o-Y Y-o-Y RM Million FY2020 FY2019 FY2020 FY2019 Growth % Growth % Revenue 100 71 40% 336 156 115% Profit 2 44 (95)% 23 47 (52)% Profit/(Loss) exc. Impairment Provisions 6 44 (84)% 27 47 (43)% Margin* (%) 6.1% 61.7% 7.9% 30.0% Profit
Slide 12: Property Sales of RM86 Million
Segmental Reporting Property Development & Investment Property Sales of RM86 Million Total Project GDV % Sales Achieved* as at Sales** Breakdown 1H 2020 Project (RM’mil) 30 June 2020 (RM’mil) Completed Projects Sentral Residences 1,439 98% 14.4 VIVO 9 Seputeh 980 82% 19.5 54% from Kalista, Bukit Rah
Slide 13: Total Unbilled Sales of RM1.3 Billion
Segmental Reporting Property Development & Investment Total Unbilled Sales of RM1.3 Billion Breakdown of Unbilled Sales Revenue Recognised* 1H FY2020 Unbilled Sales Sentral Suites TRIA Alstonia MYIPO Project Construction Progress (RM’mil) (RM’mil) Residential 23% Sentral Suites 34.2% 69 904 97% TRIA
Slide 14: What We Have To Sell: RM0.9 Billion
Segmental Reporting Property Development & Investment What We Have To Sell: RM0.9 Billion Ongoing Projects Completed Unsold Units Total RM354.4 mil. RM533.2 mil. RM887.6 mil. Total excluding 1060 Carnegie = RM750.7 mil. Breakdown of Completed Unsold Units (RM’ mil.) 250.9 136.9 Completed 98.1 Ongoin
Slide 15: Property Development & Investment Land Bank
Segmental Reporting Property Development & Investment Land Size GDV Start Completion % Stake (Acres) RM' mil. Date Date Transport Oriented Developments KL Sentral: Lot F 5.70 3,949 100% 2022 2027 PJ Sentral Garden City 11.91 2,700 100% 2013 2026 Penang Sentral 21.97 2,698 100% 2015 2027 Cyberjaya Ci
Slide 16: Engineering, Construction & Environment
Segmental Reporting Engineering, Construction & Environment Q2 (3M) 1H Y-o-Y Y-o-Y RM Million FY2020 FY2019 FY2020 FY2019 Growth % Growth % Revenue 57 151 (62)% 231 284 (18)% Profit (208) (15) >(100)% (196) 2 >(100)% Profit/(Loss) exc. Impairment Provisions (11) (15) (29)% 2 2 15% Margin* (%) (19.1)
Slide 17: Unbilled External Order Book – RM20,694 mil.
Segmental Reporting Engineering, Construction & Environment Unbilled External Order Book – RM20,694 mil. Contract Value Progress External Order Book Analysis External Contracts (RM Million) Buildings: Fee-based Desaru Convention Centre 62 99% 5% PR1MA Kajang 173 92% Buildings PR1MA Brickfields 335 1
Slide 18: Malaysian Resources Corporation Berhad
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 mrcb.group MRCB 18 18
Malaysian Resources Corporation Berhad — Q2 2020 Earnings Presentation on 6ix