KLSE (MYR): MRCB (1651)
You're accessing 15 mins delay data. Turn on live stream now to enjoy real-time data!
Last Price
0.49
Today's Change
0.00 (0.00%)
Day's Change
0.475 - 0.495
Trading Volume
13,704,100
2025-01-18
2025-01-14
2025-01-13
2025-01-13
2025-01-13
2025-01-10
darrenliew
1,113 posts
Posted by darrenliew > 2018-01-21 16:16 | Report Abuse
RE-ASSESSMENT OF THE PROSPECTS OF MRCB : A REALITY CHECK
(PROMPTED BY RECENT EXTREME VOLATILITY OF ITS SHARE PRICES DUE TO LATEST REPORTS)
MRCB still in talks with govt on EDL concession termination
=============================================
Asked how the compensation would impact MRCB’s financials, Affin Hwang Capital Research analyst Loong Chee Wei told SunBiz that the compensation is expected to improve the earnings and cash flow of the group, adding that the estimated RM70 million cash compensation per annum to MRCB should be sufficient to offset the group’s losses incurred due to interest expense, amortisation as well as operating costs.
Nevertheless, Loong said there is still uncertainty on whether the government will take over the debts of the EDL concession.
“If not, the compensation is just sufficient to defray the total costs of operating the expressway but does not generate a good return on investment,” he added.
The 8.1km EDL was built at a cost of RM1.2 billion.
The government will reportedly settle an amount of RM2.2 billion to PLUSMalaysia Bhd for the abolishment of tolls in three other locations, namely Batu Tiga, Sg Rasau in Selangor and Bukit Kayu Hitam in Kedah, as announced under Budget 2018.
(NOT LOGICAL AND UNREALISTIC FOR GOVT TO ABSORB MRCB’S SUKUK RM1B LOAN.
OTHERWISE GOVT ALSO HAVE TO ABSORB PLUSMALAYSIA’S DEBTS RELATED TO
ABOLISHMENTS OF PLUS’s 3 TOLL CONCESSIONS)
IF THE GOVT DO NOT TAKE OVER EDL’S RM1B LOAN IT WILL SIGNIFICANTLY ADVERSELY IMPACT MRCB’S RISKS PROFILE WHICH WILL REMAIN VERY HIGHLY GEARED AT RM4B
MRCB-Quill REIT's Q4 net profit down 80% on deficit in revaluation
===================================================
PETALING JAYA: MRCB-Quill REIT's (MQREIT) net profit for the fourth quarter ended Dec 31, 2017 plunged 80% on a RM18.2 million deficit in revaluation of its investment properties.
It made a net profit of RM3.3 million for the quarter under review, compared with Rm16.9 million for the same quarter in 2016.
The REIT comprises of 10 buildings worth a market value of RM2.2 billion as at Dec 31, 2017
(THIS PROVED THAT TOD/TRANSPORT HUB CONNECTED PROPERTIES CAN ALSO BE NEGATIVELY AFFECTED BY ANY PROPERTY DOWNTURN )
CIMB Research optimistic on YTL Corp securing HSR contract
================================================
KUALA LUMPUR (Jan 17): Following YTL Corp Bhd emerging as one of the five known joint venture (JV) consortiums bidding for the project delivery partner (PDP), operating company (OpCo) and assets company (AssetsCo) tenders for the Kuala Lumpur-Singapore high-speed rail (HSR), CIMB Research views this positively as it could increase its chances of securing an HSR contract.
According to its research note yesterday, the key catalysts for YTL Corp are the rail contract wins and the new HSR tender details.
The research house emphasised its optimism on YTL Corp’s chances to bid for the HSR’s rail operating company (OpCo) tender.
CIMB Research explained the OpCo tenders would be more relevant to YTL Corp, given its experience in the 45%-owned Express Rail Link (ERL) — the sole domestic high speed rail service concession built at only RM35 million per km cost — arguably the lowest cost in the region.
“As such, the OpCo would therefore be the most relevant tender for YTL Corp’s ERL, given ERL’s 14-year track record in operating its 57km high speed rail service (both direct airport express and transit service),” CIMB Research said.
“While the press had recently reported that the group secured the RM8.9 billion Gemas-JB rail project contract (via a JV with SIPP Rail Sdn Bhd), the group has yet to make an official announcement, which we suspect is pending finalisation of details of the contract,” the research house said.
THE ABOVE NEGATIVE REPORTS HAD MADE ME BECOME LESS OPTIMISTIC OF MRCB’S PROSPECTS. WILL REVIEW FURTHER WHEN MORE REPORTS ARE RECEIVED