Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (June 24): Malaysian Resources Corp Bhd (MRCB) has bagged three contracts worth a combined RM485 million from Destination Resorts and Hotel Sdn Bhd (DRH) to build a conference centre and two hotels namely Desa Desaru and Westin Desaru Resort, at Desaru Coast, Johor.

In a filing with Bursa Malaysia today, MRCB (fundamental: 1.3; valuation: 1.4) said the construction projects comprised a RM61.4 million conference centre, the 386-room Desa Desaru hotel valued at RM212 million and the 275-room Westin Desaru Resort worth RM211.6 million.

“The construction period of the projects is between 19 months and 21 months from the date of site possession of June 25, 2015,” added MRCB.

DRH, a wholly-owned subsidiary of Khazanah Nasional Bhd, is the strategic owner and developer of Desaru Coast.

MRCB shares closed up 1 sen or 0.81% today at RM1.24 per share, giving it a market capitalisation of RM2.18 billion.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

      Print
      Text Size
      Share