February 23, 2010

MRCB: Hitting the Billion Mark!

Malaysian Resources Corporation Bhd (MRCB) is confident of registering RM1 billion in revenue for the first time this year (2010) with significant improvement in profitability.

This will be achieved in view of its ongoing active progress works in Kuala Lumpur Sentral and its order book, said its Chief Executive Officer, Mohamed Razeek Hussain, in a statement today.

The group will continue to intensify its efforts to achieve economies of scale and innovative value engineering to improve performance in the coming years, he said.

MRCB posted a pre-tax profit of RM46.492 million for the financial year ended Dec 31, 2009 against a pre-tax loss of RM42.155 million in the previous financial year.

The positive performance was attributed to the overall improved operational results mainly from its engineering and construction division.

Revenue for the year rose to RM921.616 million from RM788.552 million previously.

MRCB has recommended a first and final dividend of 1.0 per cent or 1.0 sen per ordinary share less 25 per cent tax, amounting to approximately RM10.3 million.

So, MRCB has started paying dividends again. I do hope they will keep it that way from now on!

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