MRCB ropes in TH Properties as a partner to develop 59INC

During the quarter in review, the car distributor registered a net profit of RM32.82mil compared with RM19.43mil in the corresponding period last year. Consequently, its earnings per share jumped to 8.4 sen from 4.97 previously

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) has roped in the property arm of Lembaga Tabung Haji to take up a majority stake in a mixed development project in Setapak, Kuala Lumpur.

Under the deal, MRCB will sell a 70% stake in 59INC Sdn Bhd to TH Properties Sdn Bhd for RM100mil.