KUALA LUMPUR: MALAYSIAN RESOURCES CORP []oration Bhd (MRCB) posted a 120% increase in its earnings to RM21.60 million in the first quarter ended March 31, from RM9.84 million a year ago, boosted by its on-going property development projects.
It said on Thursday, May 26 the group recorded revenue of RM221.49 million compared to RM189.67 million while earnings per share were 1.56 sen versus 0.93 sen.
'Higher revenue recorded in the current quarter was contributed by the group's revenue recognition of ongoing property development projects at Kuala Lumpur Sentral and the progressive works of the CONSTRUCTION [] and engineering activities,' it said.
On the outlook, it said over the next two years would see the progressive completion of the on-going construction projects and property development within KL Sentral which works had commenced since 2009.
'Two major developments planned on strata sales at Kuala Lumpur Sentral comprising Q Sentral office block at Lot B and condominium residences at Lot D with combined gross development value in excess of RM2 billion will commence construction works in 2011,' it said.
It said on Thursday, May 26 the group recorded revenue of RM221.49 million compared to RM189.67 million while earnings per share were 1.56 sen versus 0.93 sen.
'Higher revenue recorded in the current quarter was contributed by the group's revenue recognition of ongoing property development projects at Kuala Lumpur Sentral and the progressive works of the CONSTRUCTION [] and engineering activities,' it said.
On the outlook, it said over the next two years would see the progressive completion of the on-going construction projects and property development within KL Sentral which works had commenced since 2009.
'Two major developments planned on strata sales at Kuala Lumpur Sentral comprising Q Sentral office block at Lot B and condominium residences at Lot D with combined gross development value in excess of RM2 billion will commence construction works in 2011,' it said.
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