Malaysian Resources Corp. Bhd. · MYX:MRCB
Malaysian Resources Corp. Bhd — Q1 2020 Earnings Presentation
19 slides from Malaysian Resources Corp. Bhd's earnings presentation, Mar 31, 2020
Slide 1: Analyst Briefing - Quarter ended 31 March 2020
ANALYST BRIEFING Quarter ended 31 March 2020 www.mrcb.com
Slide 2: Table of Contents
Table of Contents MRCB Group Overview 3 Financial Performance 9 Business Model 4 Segmental Reporting: Overview 13 Our Response To COVID-19 6 MRCB Financial Summary 7 Segmental Reporting: Property Development 14 & Investment Q1 2020 Highlights 8 Segmental Reporting: Engineering, Construction 17 & Env
Slide 3: MRCB Group Overview
1. MRCB Group Overview 2 core activities: Property Development & Investment Engineering, Construction & Environment Other activities: Facilities Management & Parking Pioneered Transport Oriented Development (“TOD”) in Malaysia Property investment is conducted through 27.94% owned MRCB-Quill REIT 3
Slide 4: Business Model – Property Development & Investment
2. Business Model – Property Development & Investment Bespoke Buildings Pre-let on Long Term Leases • Purpose built buildings • Carries more value due to customisation • Profits from lease income and possible disposal in the future Bespoke Buildings for Sale • Pre-sell to owner occupiers or other pu
Slide 5: Business Model – Engineering, Construction & Environment
2. Business Model – Engineering, Construction & Environment Infrastructure Commercial Environment Transmission and Residential Lines ▪ Largest Bumiputera construction company ▪ Full service and autonomous construction company ▪ Strong track record and extensive engineering skillsets which allow us t
Slide 6: Our Response To COVID-19
3. 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 o Work-from-home implemented seamlessly o Review upcoming launches o Work at all sites resumed upon o Ongoing revie
Slide 7: MRCB Financial Summary
4. MRCB Financial Summary MRCB Q1 FY2020 Overview MRCB Segment Overview Revenue PBT Property Engineering & Others Development Construction RM 426 mil. RM 27 mil. 82% y-o-y 219% y-o-y Revenue 236 175 15 RM mil. 37% y-o-y PAT Net Gearing RM 16 mil. 906% y-o-y 0.29x Revenue 56% 41% 3% Contribution Oper
Slide 8: Q1 FY2020 Highlights
5. Q1 FY2020 Highlights Revenue (RM mil.) Operating Profit (RM mil.) PBT (RM mil.) EPS (sen) 82% 90% 219% 289% 36 27 0.35 426 19 234 8 0.09 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Key Highlights • An 82% increase in revenue and a 219% increase in profits, due to a 2-fold and
Slide 9: Financial Performance – Profit & Loss
6. Financial Performance – Profit & Loss Y-o-Y RM' Million Q1 FY20 Q1 FY19 Growth % Revenue 426 234 81.9% Other Operating Income 8 12 (31.9)% Total Revenue 434 246 76.6% Operating Expenses (398) (227) 75.4% Operating Profit 36 19 90.1% Operating Profit Margin (%) 8.4% 8.1% Finance costs (13) (12) 1.
Slide 10: Financial Performance – Quarterly Analysis
6. Financial Performance – Quarterly Analysis Revenue Operating Profit and Margin 472 8.7% 36 426 8.1% 8.4% 373 25 6.7% 27 6.0% 234 241 19 21 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 PBT and Margin EPS (sen) 27 6.3% 20 0.35 14 4.6% 4.1% 3.8% 0.25 3.6% 10 0.14 8 0.09 0.06 Q1'19 Q2'
Slide 11: Financial Performance – Balance Sheet
6. Financial Performance – Balance Sheet NAV Per Share (sen) 31 Dec 2019 RM' Million 31 Mar 2020 (Audited) 110.3 110.0 Total Assets 109.3 Current Assets 3,289 3,227 108.6 Non-Current Assets 5,175 5,177 108.4 Assets held for sale 78 78 Total Assets 8,542 8,481 Total Liabilities Q1'19 Q2'19 Q3'19 Q4'1
Slide 12: Financial Performance – Borrowings
6. Financial Performance – Borrowings Leverage Profile (RM mil.) 31 Mar 2020 31 Dec 2019 Net Debt and Gearing Debt Short Term Borrowings 919 825 1,291 1,312 1,413 Long Term Borrowings 1,003 1,003 1,210 1,106 0.27x 0.27x 0.29x HP creditors 1 1 0.25x 0.23x Total Debt 1,923 1,829 Less: Deposits, cash a
Slide 13: Segmental Reporting: Overview
7. Segmental Reporting: Overview Revenue Trend – RM426 mil. Revenue Contribution Analysis 426 3% E&C Q1 FY2019 Q1 FY2020 234 236 Property 41% 175 Development 133 85 56% Others** 16 15 Group E&C Property Others** Development Segmental Profit Trend – RM36 mil. Profit Contribution Analysis 8% E&C 36 Q1
Slide 14: Segmental Reporting: Property Development & Investment
8. Segmental Reporting: Property Development & Investment Y-o-Y Y-o-Y RM' Million Q1 FY20 Q1 FY19 3M 2020 3M 2019 Growth % Growth % Revenue 236 85 177.8% 236 85 177.8% Segmental Profit 21 3 584.7% 21 3 584.7% Margin (%) 8.7% 3.5% 8.7% 3.5% Segmental Profit and Margin Performance Discussion 178% incr
Slide 15: Segmental Reporting: Property Development Projects
8. Segmental Reporting: Property Development Projects Total sales of RM36 mil. YTD 2020 Property Sales YTD 2020 – RM36 mil. Unbilled Sales – RM1,299 mil. Sales Revenue Total Project % Sales Recorded Recognised Unbilled GDV Achieved as at Q1 2020 Construction in Q1 2020 Sales Project / Sales (RM’mil)
Slide 16: Segmental Reporting: Property Development Projects
8. Segmental Reporting: Property Development Projects 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 17: Segmental Reporting: Engineering, Construction & Environment
9. Segmental Reporting: Engineering, Construction & Environment Y-o-Y Y-o-Y RM' Million Q1 FY20 Q1 FY19 3M 2020 3M 2019 Growth % Growth % Revenue 175 133 31.7% 175 133 31.7% Segmental Profit 13 17 (24.8)% 13 17 (24.8)% Margin (%) 7.2% 12.6% 7.2% 12.6% Segmental Profit and Margin Performance Discussi
Slide 18: Segmental Reporting: Engineering, Construction & Environment
9. Segmental Reporting: Engineering, Construction & Environment Unbilled External Order Book – RM20,741 mil. External Contracts Contract Completion External Order Book Analysis RM'mil Value Buildings: Fee-based Desaru Convention Centre 62 99% 5% PR1MA Kajang 173 92% PR1MA Brickfields 335 11% Buildin
Slide 19: Malaysian Resources Corporation Berhad
MALAYSIAN RESOURCES CORPORATION BERHAD Level 30, Menara Allianz Sentral, No. 203, Jalan Tun Sambanthan, Kuala Lumpur Sentral, 50470 Kuala Lumpur, Malaysia www.mrcb.com 19
Malaysian Resources Corporation Berhad — Q1 2020 Earnings Presentation on 6ix