Malaysian Resources Corp. Bhd. · MYX:MRCB
Malaysian Resources Corp. Bhd — Q2 2023 Earnings Presentation
22 slides from Malaysian Resources Corp. Bhd's earnings presentation, August 2023
Slide 1: Analyst Briefing, Quarter Ended 30 June 2023
ANALYST BRIEFING Quarter Ended 30 June 2023 t of _ FTSE4GOOD Bursa Malaysia Index Des BG otaulalth 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 2
Slide 3: MRCB Financial Summary
MRCB Financial Summary MRCB 1H FY2023 Overview MRCB Segment Overview Revenue Profit Before Tax Property Engineering & Others Development Construction RM 1,342 mil. RM 36 mil. (11)% y-o-y (40)% y-o-y Revenue 37% y-o-y RM mil. 369 941 32 Profit After Tax Net Gearing RM 20 mil. (22)% y-o-y 0.34x Revenu
Slide 4: Key Highlights
Key Highlights Revenue Operating Profit PBT EPS (RM mil.) (RM mil.) (RM mil.) (sen) (11)% (17)% (40)% (32)% 1,511 106 0.63 1,342 88 60 0.43 36 1H2022 1H2023 1H2022 1H2023 1H2022 1H2023 1H2022 1H2023 • The lower Revenue and Profit in 1H FY2023 was mainly due to the completion of three major infrastru
Slide 5: Financial Performance
Financial Performance Q2 (3M) 1H(6M) Y-o-Y Y-o-Y RM Million FY2023 FY2022 FY2023 FY2022 Growth % Growth % Revenue 599 700 (14.4)% 1,342 1,511 (11.2)% Other Operating Income 10 28 (65.3)% 21 35 (39.7)% Operating Expenses (569) (675) (15.6)% (1,275) (1,441) (11.5)% Operating Profit 40 54 (25.6)% 88 10
Slide 6: Financial Performance
Financial Performance Revenue Operating Profit and Margin 860 834 9.2% 700 742 7.7% 7.6% 599 79 6.5% 6.7% 54 63 48 40 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q2'22 Q3'22 Q4'22 Q1'22 Q2'23 PBT and Margin EPS (sen) 6.6% 0.53 4.0% 4.5% 57 38 28 2.8% 2.6% 0.32 0.29 21 0.24 15 0.19 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q2
Slide 7: Financial Performance
Financial Performance RM Million 30 June 2023 31 Dec 2022 NAV Per Share* (sen) (audited) Total Assets 101.6 Current Assets 3,522 3,547 101.4 Non-Current Assets 5,696 5,681 101.1 100.9 Total Assets 9,218 9,228 100.6 Total Liabilities Current Liabilities 2,433 2,697 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Non-C
Slide 8: Financial Performance
Financial Performance Debt Profile (RM Million) 30 June 2023 31 Dec 2022 Net Debt and Gearing (audited) Debt 0.37x 0.37x Short Term Borrowings 752 841 0.30x 0.34x 1,671 0.32x Long Term Borrowings 1,502 1,216 1,692 1,532 1,464 Total Debt 2,254 2,057 1,344 Less: Deposits, cash and bank balances 617 53
Slide 9: Segmental Reporting
Segmental Reporting Revenue Split – RM1,342 mil. Revenue Contribution Analysis 1H2022 2% 1,511 E&C 1,342 1H2023 1,152 941 28% Property Development 332 369 27 32 70% Others** Total E&C Property Others** Development Segmental Profit Split – RM78 mil. 103 1H2022 78 56 1H2023 43 43 33 4 2 Total E&C Prop
Slide 10: Segmental Reporting
Segmental Reporting Q2 (3M) 6M Y-o-Y Y-o-Y RM Million FY2023 FY2022 FY2023 FY2022 Growth % Growth % Revenue 102 145 (30.1)% 369 332 11.3% Profit (0) 22 (101.7)% 33 43 (23.7)% Margin* (%) (0.4)% 15.2% 8.9% 13.0% Profit and Margins Performance Discussion Contributed 28% of Group revenue, largely from
Slide 11: Segmental Reporting: Property Sales of RM252.9 Million
Segmental Reporting Property Sales of RM252.9 Million Total Project GDV % Sales Achieved* as at Sales** Breakdown YTD Project (RM’mil) 30 June 2023 2023 (RM’mil) Completed Projects Sentral Suites - Residential 1,535 87% 44.2 Sentral Suites - Commercial 102 50% 13.0 VIVO 9 Seputeh – Residential 982 8
Slide 12: Total Unbilled Sales from Ongoing Projects of RM43.7 Million
Segmental Reporting Total Unbilled Sales from Ongoing Projects of RM43.7 Million Breakdown of Unbilled Sales Alstonia Lilium Revenue Recognised* Unbilled In FY2023 Sales** Project Construction Progress (RM’mil) (RM’mil) Residential 25% Alstonia, Bukit Rahman Putra 69.0% 22.0 32.6 Lilium, SIDEC 35.8%
Slide 13: What We Have To Sell: RM0.6 Billion
Segmental Reporting What We Have To Sell: RM0.6 Billion (by Gross Development Cost) Unsold Projects Under Completed Unsold Units* Total Construction RM62.4 mil. RM587.1 mil. RM649.5 mil. Breakdown of Completed Unsold Units (RM’ mil.) Completed Unsold Units 199.2 168.4 RM 587.1 mil. 90% 109.2 83.5 11
Slide 14: VISTA, Surfers Paradise, Gold Coast
VISTA, Surfers Paradise, Gold Coast Launched Acres As at August 2023, sold Units Units 14 14
Slide 15: VISTA, Surfers Paradise, Gold Coast
VISTA, Surfers Paradise, Gold Coast 15 15
Slide 16: Segmental Reporting
Segmental Reporting Q2 (3M) 6M Y-o-Y Y-o-Y RM Million FY2023 FY2022 FY2023 FY2022 Growth % Growth % Revenue 482 540 (10.7)% 941 1,152 (18.4)% Profit 36 30 19.2% 43 56 (22.8)% Margin* (%) 7.4% 5.6% 4.6% 4.8% Profit and Margins Performance Discussion Contributed 70% of Group Revenue, largely from: LRT
Slide 17: Unbilled External Order Book as at 30 June 2023
Segmental Reporting Unbilled External Order Book – RM16,449 mil.1 as at 30 June 2023 External Order Book Analysis Contract Value Progress 2 External Contracts (RM Million) Buildings: Fee-based 5% FINAS 220 11% Infra Infrastructure: Buildings 45% 1% SUKE - CA2 Package 317 89% LRT3 11,427 82% Transit
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 — Q2 2023 Earnings Presentation on 6ix