PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) views the next three years as a clear progression in delivery and momentum.
Group managing director Datuk Imran Salim said MRCB is rebuilding its pipeline of property development projects, expanding its international footprint and securing multi-year construction visibility.
“Our capital strategy supports this scale, and our teams are ready to deliver,” he said in the company’s annual report released yesterday.
However, Imran acknowledged that the operating landscape remains challenging.
“Input costs have risen due to supply-chain effects from the sales and services tax and broader inflationary pressures from the conflict in the Middle East.
“The upcoming carbon taxes on steel will likely introduce additional cost layers.
“While these pressures affect industry players across the board, our procurement discipline, design optimisation, and project phasing strategies aim to mitigate the impact on margins.”
Imran said property demand showed location-specific sensitivity, driven by pricing, design, and completed-building preference to validate product and design quality.
“Buyers prefer to ‘see and feel’ finished units before committing, which aligns with our experience across several Malaysian projects and the Australian market.
“We, therefore, expect stronger take-up after project completions, especially in developments with strong architectural quality and integrated transport connectivity.”
He added that the combination of a RM5.7bil unbilled order book, strong international pipeline, upcoming domestic launches, and an expanding capital allocation provides MRCB with a stable platform for sustained growth.
“Several high-potential opportunities remain in advanced discussion and, if secured, will further strengthen our diversification and growth profile.”
In 2025, the group recorded revenue of RM1.2bil, down 27% year-on-year, and profit before tax of RM73.2mil, 2% lower compared to the previous year.
Imran said these results reflect the timing of revenue recognition across its property development and construction cycles, with earnings expected to normalise as new projects ramp up through 2026 and beyond.
He said the group’s engineering, construction and environment (ECE) division continued to anchor the group’s performance for the year.
“The ECE division recorded revenue of RM944.8mil and operating profit of RM113.1mil in 2025. Projects such as the Kompleks Sukan Shah Alam (KSSA) redevelopment, the reinstated light rail transit line three (LRT3) stations, and the additional lane construction on the North-South Expressway (PLUS) have given us the visibility and scale required to support a multi-year performance runway.”
Imran said these project wins also reaffirmed its ability to deliver long-cycle, complex work – something “very few contractors in Malaysia can execute at this scale and with this level of consistency”.
“Our overall results reflected a temporary recognition gap in earnings rather than weakness in demand or capability. What matters more is the momentum we have built.
“By the year-end, we had secured an external construction order book of RM5.5bil. This comprised three major awards – namely the KSSA project at RM2.9bil, five reinstated LRT3 stations and other related infrastructure works at RM2.4bil, and the PLUS expressway additional lane construction at RM160.1mil.”
