KUALA LUMPUR – Malaysian Resources Corp Bhd (MRCB) has reported a sharp drop in second-quarter profit, citing weaker contributions from its property and construction divisions as key projects near completion and new launches remain pending.
The group posted a net profit of RM15.07 million for the three months ended June 30, 2025, compared with RM51.18 million in the same period last year. Revenue slipped to RM297.76 million from RM372.16 million.
In a filing with Bursa Malaysia, MRCB said earnings in its property development and investment arm were hit by lower revenue from both completed and ongoing projects, while upcoming developments such as Kolektif in KL Sentral and Tower 5 in PJ Sentral are still in the planning stage, with launches expected later this year pending regulatory approvals.
Its engineering, construction and environment division also reported reduced revenue recognition from the Light Rail Transit 3 (LRT3) project, which is nearing completion.
For the first half of the year, MRCB’s net profit dropped to RM23.66 million from RM54.18 million a year earlier, while revenue declined to RM515.95 million from RM848.35 million. — August 27, 2025