MRCB To Set its Sights on Iskandar Malaysia

MRCB continues to hog the lime-light lately. From the GMO of all MRCB shares by the EPF  to the potential participation in the RM5 billion worth Sungai Buluh property project  between EPF and the Federal Government,rumours still swirled around of the choice lands in Jalan Cochrane and elsewhere that they will also get, that will help built up the book values of MRCB in the years to come.

Now, Malaysian Resources Corp Bhd (MRCB) is eyeing land in Iskandar Malaysia for its property development projects in Malaysia’s first economic growth corridor.

Executive director Datuk Ahmad Zaki Zahid told StarBiz that the company was looking to develop projects on a joint-venture basis with land owners or other parties.

“We see Iskandar offering good prospect in the long run in view of the commitment shown by the Federal Government and other stakeholders,” he said.

The company is now undertaking two projects in Johor Baru – the RM550mil Permai psychiatric hospital in Tampoi (to be ready by year-end) and the RM1bil Eastern Dispersal Link Expressway (EDL).

Earlier, at a press briefing, Zaki said MRCB’s wholly-owned subsidiary, MRCB Lingkaran Selatan Sdn Bhd (MLSSB), was on track to complete the EDL project by end-2011 and it would be opened to motorists by February 2012.

MLSSB was awarded the 30-year concession in June 2007, including the four-year construction period.
The 8.1km dual three-lane carriageway – 4.4km elevated and 3.7 At-Grate – is an electronic, open toll system and motorists have to pay their toll charges using the Touch & Go card only.

The expressway provides direct link between the Sultan Iskandar Customs, Immigration and Quarantine complex in Bukit Chagar and the North-South Expressway via the Pandan interchange.

“The opening of the EDL will shorten travelling time by almost 50% to most destinations in Johor Baru and improve connectivity and accessibility,” said Zaki.

So,are you holding  onto your MRCB shares or are you intending to procure some more  before speculators ballooned up its price?