KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) aims to secure RM910 million in sales this year, from the launches it has in the pipeline worth up to RM1.3 billion in gross development value (GDV).

For 2015, the group plans to launch The Grid @ Kia Peng in June with a GDV of RM400 million, followed by the Semarak City project here (RM400 million in GDV), Phase 2 of 9 Seputeh in Old Klang Road (RM200 million in GDV) and 3 Residences @ Kajang Utama (RM300 million in GDV).

“We are targeting to secure sales of about 70% to 80% of the total launches in 2015,” said MRCB chief financial officer Ann Wan Tee yesterday.

He said that demand for the various projects has been encouraging.

MRCB has 103.6ha of undeveloped land bank in Peninsular Malaysia, with a GDV of approximately RM30 billion, which will keep it busy over the next 12 to 15 years.

When asked if the group is looking to acquire more land, Ann said the group will consider and assess strategic pieces of land.

On the tender submitted for the 3.2ha land belonging to the French Embassy in Jalan Ampang here, MRCB said a decision could be made by the embassy in June.

Meanwhile, for its construction division, MRCB said its order book currently stands at RM1.2 billion, while its tender book is valued at around RM2 billion.

Ann said that the group’s tender book mostly comprises bids for infrastructure projects.

“Though we say our focus has always been property, there is also the construction side of MRCB.

“We are trying to grow the construction business as well. We have left behind that segment a bit as we were too focused on Kuala Lumpur Sentral,” said Ann.

Its construction segment currently contributes 45% of the group’s revenue, while the property development business contributes the remaining 55%.

In the longer term, the group aims to achieve a 50:50 contribution from the two segments.

Looking ahead, Ann said the property development segment will continue to be the main driver for MRCB’s performance this year.

MRCB shares closed one sen or 0.75% higher at RM1.34 yesterday, with a market capitalisation of RM2.41 billion.

This article first appeared in The Edge Financial Daily, on May 12, 2015.