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Tuesday, May 22, 2012

MRCB enjoys 48pc Q1 pre-tax profit surge

Malaysian Resources Corporation Bhd (MRCB) recorded a 48 per cent hike in pre-tax profit to RM35.6 million for the first quarter ended March 31, 2012, from RM24 million in the same quarter last year.

Revenue also rose to RM328.6 million versus RM221.5 million, the company said in a statement today, citing strong contribution from its property division due to progressive works at Kuala Lumpur Sentral for the higher profits.

Recurring rental income from the newly completed KL Sentral Park office also contributed to the improved results for the current quarter.

The newly completed KL Sentral Park office, the group’s latest property investment addition continues to attract encouraging interests, with tenancy expecting to reach full occupancy by this year, MRCB said.

Ongoing construction of CIMB Tower at Lot A, Shell Tower at Lot 348 and the integrated Nu Sentral retail mall, three office towers and one block of hotel at Lot G were progressing on schedule to complete within this year.

The Eastern Dispersal Link Expressway in Johor Baharu was opened to traffic on April 1, 2012 while negotiations with the government for toll collection are still in progress.

Among the group’s major construction works, the Ampang LRT extension line project commenced work late last year.

By Bernama

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