KUALA LUMPUR: Malaysian Resources Corporation Bhd’s (MRCB) corporate transformation strategy has successfully reduced its net gearing from 172 per cent to 24 per cent, increased its urban land bank four-fold to 114.12 hectares, with gross development value (GDV) increasing almost three-fold to RM31 billion.
During the four-year transformation, MRCB’s external construction order book has also grown exponentially, from only RM2 billion to RM21 billion, ranking currently as the highest in the industry.
The company embarked on its “Transformation for Growth” corporate transformation strategy in 2014 in the quest to slash its high net gearing and enhance its corporate sustainability.
This was achieved through a comprehensive non-core asset disposal programme to realign the business to leverage the unique engineering skills and expertise MRCB is renowned for and creating a long-term pipeline of property development projects and construction orders.
“MRCB’s corporate transformation journey has translated into improved operational efficiencies, disclosure and strengthened governance, which has been further validated by the many awards it has won for its performance.
“Most notable are the multiple international awards won for MRCB’s role in rejuvenating KL Sports City, as well as the prestigious Gold Award lifted at the 2018 Australasian Reporting Awards in Sydney, which recognised MRCB’s high standard of reporting,” MRCB, a leading urban property and construction company, said in a statement today.