Malaysian Corporation Resources Bhd (MRCB) sees "good growth" in revenues this financial year ending Dec 31, 2010 driven by its engineering and CONSTRUCTION [], and property development business segments.
The company hopes its revenues to "cross the RM1 billion mark" this FY from RM921.62 million reported in its FY09.
Its chief executive officer Mohamed Razeek Hussain said on Thursday, June 3 that the company is hoping to secure RM250 million of the RM600 million of projects which it had bid far.
He also said that he is "confident" of being able to secure some of the tender works for the light rail transit extension construction in the Klang Valley. It is also scouting to buy more land especially in the KL City Centre (KLCC) area and in some select areas around the Klang Valley.
The master developer for the KL Sentral area also said it is diversifying out of Malaysia, aiming to develop PROPERTIES [] in the ASEAN region.
The company is building a condominium in Melbourne, Australia - close to the Deakin University which is targeted at students there with gross development values of AS$57 million.
"The property market in Australia is very hot at the moment and we hope to ride on this," Mohamed Razeek said.
-theedgemalaysia.com
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