PETALING JAYA (Feb 26, 2014): Malaysian Resources Corp Bhd's (MRCB), a company which has been in the news for its corporate moves recently, posted a net profit of RM2.22 million for the fourth quarter ended Dec 31, 2013 compared to a net loss of RM2.97 million in the same quarter last year.
Earlier this month it was reported that MRCB is in preliminary talks to take over loss-making UEM Builder Bhd, the engineering and construction units of UEM Group Bhd.
The group said it returned to profitability in the current quarter mainly from the on-going property development project on Lot B (Q Sentral office) and Lot D (The Sentral Residences).
Revenue for the final quarter climbed 21.8% to RM369 million from RM303.1 million a year ago.
For the 12 months ended Dec 31, 2013, MRCB posted a net loss of RM109.13 million compared to net profit of RM60.12 million previously due to one-off adjustments and provisions arising from the disposal of the Kuala Lumpur Sentral Lot G office towers and hotel development which were sold en-bloc in the preceding financial year.
Dropped ever since the law suit by PKNS for the sale to Garpuna. So, it should go up after winning the court case. RM 2.30 on the way...Warant will break 30sen soon...
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Mattew Chew
116 posts
Posted by Mattew Chew > 2014-02-24 19:41 | Report Abuse
already dump all $$$$$$ on MRCB, dun let me dissapoint....