United States

Analyst Research Report Snapshot


Results Note - MRCB (BUY, maintain) - Better than forecast if not for cost provision




Affin Hwang Investment Bank Bhd


26 Feb 2013





Companies referenced:


Available for Immediate Download

Net loss of RM3.0m in 4QFY12 due to cost provision MRCB recorded a net loss of RM3.0m in 4QFY12 (versus net profits of RM24.1m in 4QFY11 and RM35.8m in 3QFY12) due to an undisclosed provision for higher construction cost on certain E&C projects without recognition of the corresponding potential variation order claims from its respective clients. Without the cost provision, which we estimate at RM30m, the group would have made a net profit of RM27.0m on the good performance of its property division. Effective tax rate for the quarter is substantially higher than the statutory rate due to the non-availability of tax losses and certain expenses not tax deductible (including the cost provision).

Why buy analyst research?

  • Institutional quality research
  • Available for Immediate Download
  • Detailed company or industry insight
  • Print or save
  • 24 hour customer support
Return to previous page without adding this item to your cart.
Email Customer Support.

About Analyst Research

Analyst research reports are available for immediate download after purchase. You will have unlimited access to the report for 24 hours after purchase, to download, print or save it as many times as you wish. Analyst Research provided by Reuters does not constitute investment advice, and is not endorsed by Reuters Research. This information is protected by copyright and intellectual property laws. More information on Analyst Research.