MRCB on Saudi Sentral and Penang Monorail

MRCB to formalise Saudi venture this year
Published: 2008/03/27 BUSINESS TIMES
INVEST MALAYSIA 2008 CONFERENCE

MALAYSIAN Resources Corp Bhd (MRCB) is expected to formalise its Saudi Arabia venture to develop a US$2 billion (RM6.4 billion) property and urban transportation hub this year. "We hope to replicate what we've done here in KL Sentral," MRCB group managing director Shahril Ridza Ridzuan said. He declined to identify the group's partner in Saudi Arabia. KL Sentral, Malaysia's biggest bus and rail hub, include strategically located hotels, apartments and government offices. Shahril was speaking to reporters at the sidelines of the two-day Invest Malaysia 2008 conference held in Kuala Lumpur yesterday.

In January, Syarikat Prasarana Negara Bhd had given a letter of intent for the Penang monorail project to MRCB and its consortium partners, namely Penang Ports Sdn Bhd and Scomi Group subsidiary MTrans Transportation Systems Sdn Bhd.

There is concern that a change in government in Penang could evoke investment uncertainty.
Asked to comment on the proposed Penang monorail project, Shahril replied, "it cannot be said there is a delay or not when in the first place, the project has not been awarded." He also said it was premature to talk about the estimated cost of the proposed Penang monorail project as the route has not been finalised. While the project will be funded by the federal government, land on which the rail will run through will come under the state government's purview.

"Let us not speculate on what is going to happen. Both the federal and state governments have stated their intentions to implement mega projects, they will finalise the terms of the project," he said.

On key performance indicators for the current financial year, Shahril said the MRCB is on track to achieve a pre-tax profit of RM90 million on RM1.2 billion. "We're optimistic of a 30 to 40 per cent growth from last year," he said.

MRCB: KL Sentral to be completed by 2015

MRCB: KL Sentral to be completed by 2015
By Kamarul Yunus Published: 2008/04/30 BUSINESS TIMES

MALAYSIAN Resources Corp Bhd (MRCB), a construction and property company, expects to complete the whole development of its RM8.4 billion comprehensive and integrated Kuala Lumpur Sentral development project (KL Sentral) by 2015. Its retail asset development general manager Zulkifli Ibrahim said the company has completed more than RM2 billion worth of development, and another RM5 billion new development is under construction and progressing rapidly.

"This new development includes the construction of high-rise office buildings, a shopping mall, a five-star hotel, condominiums, luxury service apartments, and a media and education centre," he told reporters during a media tour around KL Sentral's latest edition called Sooka Sentral - a lifestyle, health and dining centre - in Kuala Lumpur yesterday.

Zulkifli said construction work on the new shopping mall is expected to begin by the middle of the year, with targeted completion by 2011, while the office buildings, condominiums and luxury service apartments, located opposite the National Museum, are scheduled to start by the end of the year.

KL Sentral is being developed as a futuristic self-contained city, providing the perfect living, work and play environment. Located in the heart of Kuala Lumpur, it is also dedicated to be the transport hub of the city.

The Sooka Sentral, meanwhile, is located directly opposite the southern entrance of the KL Sentral station. The six-storey building is managed by Sooka Sentral Sdn Bhd, a wholly-owned subsidiary of MRCB.

"It is the only and ultimate centre for relaxation within KL Sentral development that focuses on luxurious health, beauty, wellness and dining outlets," Zulkifli said, adding that Sooka Sentral has reached a 100 per cent occupancy rate.

He said the gross development value of Sooka Sentral is about RM60 million, offering some 9,290 sq m of space. It houses a fitness centre, a spa, beauty and health centre, a food court, fine dining restaurants and alfresco dining outlets.

Among its tenants include Centro, Kiliney Kopitiam, Zen, Chili Espresso, myNEWS.com, Oriental Spoom, Sushi King, Kelantan Delights, Kabul restaurant, World of Perfume, Cuttery, Beaubelle, Equal Fitness Sports Massage, Tanamera Tropical Spa, Chiill Reflexology, The Spa, and SynarGym.