Malaysian_Resources_Corporation_Berhad

MRCB

MRCB

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Malaysian Resources Corporation Berhad (MYX: 1651, commonly referred to as MRCB) is a Malaysian construction and property development company based in Kuala Lumpur. It is the master developer of the Kuala Lumpur Sentral transport hub and business district.[2]

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With the EPF as a significant shareholder (38 percent), MRCB is considered a government-linked company (GLC) in Malaysian business circles.[3]

History

MRCB was founded in 1968 as Perak Carbide Corporation Sdn Bhd, a carbide manufacturer, and went public in 1971.[4] In 1981, it shifted its business focus to property development and took on its present name.[3]

Since the 1990s, MRCB has led a consortium also comprising Keretapi Tanah Melayu and Pembinaan Redzai to develop and construct KL Sentral, the largest transportation hub in Malaysia.[5] KL Sentral is the intersection of KTM Komuter, ETS, Rapid Rail (LRT and monorail), Express Rail Link to Kuala Lumpur International Airport and the newly opened KVMRT Sungai Buloh-Kajang line.[6] The business district is also home to major local corporations including UEM, CIMB and Axiata, and the Malaysian headquarters of foreign multinationals such as Shell and General Electric. As of 2015, KL Sentral is almost fully developed aside from two lots set aside for future projects.[2]

Township projects developed by MRCB include 9 Seputeh and Kota Semarak in the periphery of Kuala Lumpur.[7] As of 2015, major projects in the pipeline include Penang Sentral, a similar transport hub for the northern city of Penang, PJ Sentral, a mixed residential and commercial development in the KL suburb of Petaling Jaya, and refurbishment of the Bukit Jalil National Stadium.[8][9][10] It is also a joint venturer in the development of the town centre in the 2,330-acre Kwasa Damansara township in the Klang Valley, which is owned by its major shareholder, the Employees Provident Fund (EPF).[11]

References

  1. [1]
    Annual Report 2016 (pdf), Malaysian Resources Corporation Berhad, 2016-12-31, retrieved 2017-07-05
  2. [2]
    Wong, Joseph (2014-04-23). "MRCB saves best for last at KL Sentral". theantdaily. Retrieved 2015-08-22.
  3. [3]
    Sharidan M. Ali (2010-11-29). "MRCB to go big in the property sector". The Star. Archived from the original on 2017-02-02. Retrieved 2015-08-22.
  4. [4]
    Memorandum of Understanding on the Proposed Merger between MRCB and IJM Land Berhad By Way of a Members' Scheme of Arrangement Under Section 176 of the Companies Act, 165 via a Newly Incorporated Company (PDF), Malaysian Resources Corporation Berhad, 2010-11-23, retrieved 2015-08-22
  5. [5]
    "Welcome to Kuala Lumpur Sentral". www.klsentral.com.my.
  6. [6]
    "Welcome to Kuala Lumpur Sentral".
  7. [7]
    Lee, Wen Khuen (2015-05-12). "MRCB optimistic on property sales". The Sun. Retrieved 2015-08-22.
  8. [8]
    Farah Wahida (2014-09-30). "MRCB gets approval for Penang Sentral project". PropertyGuru. Retrieved 2015-08-22.
  9. [9]
    "MRCB, Nusa Gapurna and PKNS settle suit over RM3 billion PJ Sentral project". The Malaysian Insider. 2014-06-21. Archived from the original on 2016-03-04. Retrieved 2015-08-22.
  10. [10]
    Mahalingam, Eugene (2015-07-01). "MRCB gets RM1bil Bukit Jalil stadium job". The Star. Retrieved 2015-08-22.
  11. [11]
    "MRCB, Kwasa Land firm up JV to build a town centre in RRI land". The Star. 2014-08-15. Retrieved 2015-08-22.
  • Business data for Malaysian Resources Corporation Berhad:
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