Strong support at 118 to 120 even a minor pull back next week is normal before heading to new height , AJ comment is reasonable for next week n one month . Should focus on the point at 135-138 , if break through than up ward trend is confirmed .
I see based on fundamentals la..this company still cheap lo..got bashed down a lot rdy this year, PE should be at least 10x for its market cap..somore can price in more cause they just won that huge JV project with George Kent.
I foresee RM1.50 within this year la..assuming next Q as good as last Q.. if better can even break 1.50..one of the cheapest construction stock in Bursa now. In a good market, fundamentals always win, be patient for the 20-25% more upside. Will come soon
earnings report out in 2 weeks time. Patience la..as long as dont break 1.20 support can hold first and watch. I myself nervous a bit liao cause KLCI didnt follow other markets and green. Seems like bad reaction to Budget. But oh well, dont panic first. KLCI above 1700 still ok
On behalf of the Board of Directors of Malaysian Resources Corporation Berhad ("MRCB") (“Board”), RHB Investment Bank Berhad wishes to announce that MRCB had, on 28 October 2015, entered into a management contract with Kwasa Utama Sdn Bhd (formerly known as Kwasa Development (1) Sdn Bhd) (“KUSB”) whereby KUSB has appointed MRCB as the Management Contractor to provide services in connection with the development and construction of a commercial development named Kwasa Utama on a piece of land owned by KUSB measuring 29.82 acres known as Plot C8 (part of Lot 85112) Kwasa Damansara, Mukim Sungai Buloh, Daerah Petaling, Sekysen U4, 40160 Shah Alam, Selangor Darul Ehsan for a provisional total contract sum of RM3,145,493,294 (“Proposed Construction”)
On behalf of the Board of Directors of Malaysian Resources Corporation Berhad, RHB Investment Bank Berhad wishes to announce that Rukun Juang Sdn Bhd, a 85%-owned subsidiary of MRCB Land Sdn Bhd, which in turn is a wholly-owned subsidiary of MRCB, had on 28 October 2015, entered into a privatisation agreement with the Government of Malaysia, represented by the Ministry of Youth and Sports and Syarikat Tanah dan Harta Sdn Bhd relating to the refurbishment and upgrading of facilities located at the National Sports Complex in Bukit Jalil, Kuala Lumpur for a total contract sum of RM1,631,880,000.
KUALA LUMPUR (Oct 28): Based on corporate announcements and news flow today, companies in focus on Thursday, Oct 29 could include: MRCB, E&O, Maxis, MISC, NCB, UMW-OG, Caring, and Sunway REIT.
Malaysian Resources Corp Bhd (MRCB) has clinched two major jobs totalling RM4.78 billion and also announced it would be taking up a major role in the development of the Cyberjaya City Centre (CCC), which carries an estimated gross development of almost RM10 billion.
The two jobs it won were: the development and construction of the Kwasa Utama commercial development worth RM3.15 billion, and the refurbishment and upgrading of facilities at the National Sports Complex in Bukit Jalil, Kuala Lumpur, worth RM1.63 billion.
MRCB told Bursa Malaysia it had entered into a management contract with Kwasa Utama Sdn Bhd (KUSB), under which MRCB was appointed the management contractor for the development and construction of Kwasa Utama — a 29.82 acre commercial development in the new Kwasa Damansara township in Sg Buloh.
KUSB is 95%-owned by the Employees Provident Fund (EPF) and the remaining 5% stake is held by Kwasa Land Sdn Bhd, which is wholly-owned by EPF.
The 29.82-acre Kwasa Utama development, which will span over a period of 12 years from 2016 to 2027, is expected to comprise seven separate development plots. It will feature eight office towers, a hotel, an auditorium and a common facility block.
As for the RM1.63 billion job to refurbish and upgrade the Bukit Jalil National Sports Complex into the Kuala Lumpur Sports City (KL Sports City), it will be repaid by the government with three pieces of leasehold land, totalling 92.5 acres nearby.
The job was awarded to MRCB’s Rukun Juang Sdn Bhd, which was chosen by the federal government for offering “the best overall development concept”, after 11 companies submitted proposals in an open nation-wide tender, MRCB said in a statement this evening.
The upgrading project will be undertaken in two phases; the first is to get the national stadium ready to host the 2017 Southeast Asia Games. The second phase will commence once the SEA games are over and will create KL Sports City, a fully-integrated sports hub with, among others, world-class infrastructre and a sports-focused mall.
Phase 1 is to be completed in 18 months and will begin one week after the necessary approvals are obtained. Phase 2 — to begin no later than Jan 1, 2018 — is slated to complete in three years.
Lastly, MRCB’s wholly-owned subsidiary MRCB Land Sdn Bhd is expected to fork out RM269.5 million for a 70% stake in CSB Development Sdn Bhd, the joint venture company (JVC) that will undertake the development of CCC.
It said MRCB Land has entered into a joint venture agreement with Cyberview Sdn Bhd, a government-owned company wholly-owned by the Minister of Finance for the development. Cyberview will take up the remaining 30% in CSB Development for RM115.5 million.
Cyberview, mandated by the Malaysian government to spearhead the development of Cyberjaya, has earmarked approximately 141.27 acres of land located in Cyberjaya for development of the CCC.
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....
Guo Yong Soh
44 posts
Posted by Guo Yong Soh > 2015-10-23 12:17 | Report Abuse
Hi,everyone,now this MRCB share price already 1.25,it still good price to in stock?may you all share you all target price?