【MRCB 1651 交流专区】马资源

icy97

马资源
购地推高负债率

2017年6月17日

分析：丰隆投资银行
目标价：1.12令吉

最新进展：

马资源（MRCB，1651，主板产业股）以3亿3550万令吉购买3块吉隆坡布特拉路（Jalan Putra）地皮。

独资子公司Metro Spectacular私人有限公司，与吉隆坡市政厅签署协议，以3亿3550万令吉，买下总面积达4万720.5平方米的地皮，预计在今年末季完成交易。

行家建议：

我们此收购感到惊喜，因为马资源目前的地皮发展总值庞大，高达400亿令吉以上。

该地段距离吉隆坡市中心北部约4公里，周边有布特拉路、敦伊斯迈路、古晋路和敦拉查路。

从收购价来看，相等于每平方尺765令吉，属于公平。

虽然马资源1配1比例发附加股，有助将净负债从94%降至38%，但最新收购计划，将再把负债率提升至41%。

由于收购计划透露细节不多，暂维持预测、“守住”评级，及目标价1.12令吉不变，核心净利和负债率表现依旧是市场关注的焦点。



【e南洋】



3.36亿购地恐推高负债‧马资源长期仍正面

（吉隆坡16日讯）马资源（MRCB,1651,主板产业组）與吉隆坡市长签署买卖协议，以3亿3550萬令吉收购首都3块占地4萬零720.5平方米的土地。

整个土地收购计划料在今年第四季完成。

￭分析

豐隆研究表示，交易價相等於每方尺765令吉，属於合理水平。

交易價合理

该行指出，有关地段将作为商业发展，但未获提供发展总值和其它详情。

马资源最近以1配1比例配售附加股，令净负债比从94%降至38%，最新收购将将负债比微升至41%。

豐隆指出，该公司手上产业发展总值逾400亿令吉，手上已有大型项目待执行，因此对於这次收购感到驚讶。

“一旦该公司继续购地，负债比可能重返之前的高水平。”

大马投行则持正面看法，认为可增加其地库，在未来保持产业发展业务。

该行不担心潜在负债增加的问题，因马资源目前的负债比处於可管理水平，在发售附加股後将进一步改善。

肯纳格研究认为，此收购长期正面，因该地段位於策略地点，接近市中心。保守假设购地成本为发展总值的20至25%，则该地段的潜在发展总值达13亿至17亿令吉。

文章来源：
星洲日报／财经·2017.06.16

icy97

Type	Announcement
Subject	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING
Description	MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB" OR THE "COMPANY")PROPOSED RIGHTS ISSUE
We refer to the announcement dated 17 May 2017 in relation to the Proposed Rights Issue. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcement in relation to the Proposed Rights Issue. On behalf of the Board, RHB Investment Bank wishes to announce that the Company has been informed by its major shareholders, namely EPF and GSB, that they have decided not to pursue the Proposed Exemption. This is to enable the Company to complete the Proposed Rights Issue expeditiously. EPF and GSB will continue to subscribe in full for their entitlements under the Proposed Rights Issue, pursuant to their respective Undertakings. For the avoidance of doubt, it remains their intention to apply for excess Rights Shares with Rights Warrants provided that such application will not result in them triggering a mandatory general offer for the remaining MRCB Shares and convertible securities not already owned by them pursuant to Paragraph 4.01 of the Rules. Following the above, the Company will not proceed with the implementation of the Proposed Exemption. This Announcement is dated 22 June 2017.

icy97

体育城翻新提前完工‧马资源争取大马城工程

（吉隆坡5日讯）马资源（MRCB,1651,主板产业组）提前完成武吉加里尔吉隆坡体育城的翻新修复工程，分析员给予正面评价，并且不排除日后竞标更多类似工程计划，惟维持其评级与财测。

或竞标更多类似工程

大马投行指出，马资源耗资12亿令吉的武吉加里尔吉隆坡体育城（前称国家体育中心）翻新修复工程已完成98%，比预期提早2个月完成，预料在今年7月杪正式移交给政府。

该行指出，马资源将获得政府颁予接近吉隆坡体育城的76.14英亩土地作为交换条件。该公司将与雇员公积金局合作，以联营综合产业发展计划，兴建商业及住宅产业单位，发展总值210亿令吉，预期于2038年全面落实。

大马投行认为，马资源已证明成功翻新修复国家体育中心的能力，该行并不排除日后竞标类似工程计划的可能性。

联昌研究指出，马资源将与雇员公积金局设立联营公司——武吉加里尔仙特拉，以发展有关76.14英亩土地（由3块土地组成），后者将持有联营公司80%股权，马资源则通过85%股权子公司——Rukun-Juang公司有效持有17%股权。不过，预料此发展计划最早在2019财政年才可作出盈利贡献。

有望负责主要交通中心工程

联昌研究表示，若是大马城计划的备忘录落实，马资源有望负责主要交通中心工程计划，将是公司的潜在惊喜。另一方面，若潜在合约延宕及新山的东部环绕疏散大道（EDL）仍未脱售，将是潜在下行风险。

马资源管理层日前安排逾30名分析员及基金经理参观翻新后的吉隆坡体育城，包括国家体育馆、亚通室内体育场、水上运动中心及其他周边建设。它将作为今年8月19至30日举行的东盟运动会，及第九届东盟残疾人运动会（9月17至23日）主要体育场地。

文章来源：
星洲日报／财经·文:李文龙·2017.07.05

icy97

Type	Announcement
Subject	OTHERS
Description	INCORPORATION OF NEW COMPANIES
The Board of Directors of Malaysian Resources Corporation Berhad ("the Company") wishes to announce that the Company has incorporated the following two companies on 10 July 2017 for the purpose of developing a branded residence and luxury hotel at Lot F, Kuala Lumpur Sentral: 1) Lot F Residence Sdn Bhd. 2) Lot F Hotel Sdn Bhd. The paid-up capital of each company is RM2. None of the directors and/or major shareholders of the Company and/or person connected to them have any interests, direct or indirect, in the said subsidiaries. This announcement is dated 10 July 2017.

icy97

MALAYSIAN RESOURCES CORPORATION BERHAD

EX-date	25 Jul 2017
Entitlement date	27 Jul 2017
Entitlement time	05:00 PM
Entitlement subject	First and Final Dividend
Entitlement description	First and Final Single Tier Dividend of 2.75 sen per ordinary share for the financial year ended 31 December 2016
Period of interest payment	to
Financial Year End	31 Dec 2016
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	SYMPHONY SHARE REGISTRARS SDN BHDLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301Petaling JayaTel:0378490777Fax:0378418151
Payment date	18 Aug 2017
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	27 Jul 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit	25 Jul 2017
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)
Entitlement indicator	Currency
Currency	Malaysian Ringgit (MYR)
Entitlement in Currency	0.0275

icy97

推550亿产业‧马资源放眼市值43亿

（吉隆坡28日讯）马资源（MRCB,1651,主板产业股）正全力推动总值550亿令吉的产业发展计划，并放眼2018年市值增至10亿美元（约43亿令吉），以吸引外国机构投资者。

马资源首席企业员（CCO）阿玛吉在股东特大后说：“对比大马前10大产业公司，公司资本规模仍很小，为了让手上工程顺利进行，我们需要更大资本规模。目前马资源未来10至20年将陆续进行产业项目，发展总值高达550亿令吉，要让它们开始为公司贡献营业额和净利。”

阿玛吉也表示：“在扩大股本后，公司市值预计可以进一步增加至10亿美元，这将更容易吸引国外机构投资者注意。”

马资源首席财务员安煌帝透露：“目前大股东雇员公积金局（EPF）也正和多个国外投资者如泰国、韩国、日本等退休基金商讨合作。一旦公司完成附加股后，有足够大的资本规模后，预料将增加马资源吸引力。”

目前公积金局为马资源最大单一股东，共握有后者34.73%股权。

阿玛吉补充：“国外投资者一般不会留意市值少过10亿美元的大马公司。”

询及该公司是否能在明年达到40亿令吉左右市值目标，安煌帝说：“在完成附加股计划后，公司股本可从目前21亿股左右增至逾40亿股。我们希望每股附加股定价可以为1令吉左右，但仍视乎到时的市场反应，但我们有信心可以达到。”

1配1附加股 5附加股送1凭单

该公司在股东大会上通过了以1配1比例配售发行最多28亿5667万9518附加股，同时5附加股发送1凭单，最多筹措24亿2817万8000令吉。完成一系列活动后，股本最多将扩大至62亿8469万4940股，最少也有48亿2307万3827股。

谈到该公司债务高企的挑战，安煌帝则回应道：“这是过去几年一直困扰公司的问题，但公司负债比已经从高峰期的1.23倍，在2016年12月31日降至0.73倍。虽然在今年第一季度，又因为为了完成手上工程缘故，债务比又走高至0.9倍，但相信在附加股计划完成后，负债比将进一步走低。”

安煌帝进一步解释说：“由于公司的产业项目发展，都需要比较长孕育期，因此公司持有土地成本管理很重要，必须确保持有土地成本不侵蚀公司获利。我们不要为银行‘打工’，因此我们选择了发行附加股筹资。”

阿玛吉进一步说明：“经过过去几年减债的努力，大约为公司每年节省了4300万至4600万令吉贷款利息。”

在回答股东询及公司是否已经筹够资金，阿玛吉说：“是的，我们已经筹够足够资金为即将进行项目融资。我们长期债务比目标为0.5倍，这也是目前大马上市产业公司大概的负债水平。”

没投标大马城

针对市场谣传该公司有可能在大马城项目获分一杯羹，阿玛吉斩钉截铁地说：“我们没有这个打算，我们也不符合大马城的招标资格。公司现在只会专注于手上未完成的工程。”

提到公司建筑业务的表现，阿玛吉表示，公司建筑业务表现依然卓越，在竞标新工程具优势地位。

目前公司手上外部建筑订单为70亿令吉，若涵盖公司进行中50亿产业项目，当中20亿令吉内部建筑订单，整体建筑订单则是90亿令吉左右。

文章来源：
星洲日报／财经·2017.07.29

icy97

Type	Announcement
Subject	OTHERS
Description	TNB HQ CAMPUS DEVELOPMENT (PHASE I)  - THE CONSTRUCTION AND COMPLETION OF BALAI ISLAM AND STAFF QUARTERS AT PART OF LOT 490 AND LOT 6266, JALAN BANGSAR, KUALA LUMPUR (THE CONTRACT)
Malaysian Resources Corporation Berhad (“MRCB” or “the Company”) is pleased to announce that the Company had today received a Letter of Acceptance from Tenaga Nasional Berhad to award the Contract to MRCB at a contract sum of RM40,000,799.90. The duration of the Contract is 15 months from the date of site possession. The Contract is expected to contribute positively to the future earnings of the Group. None of the Directors, substantial shareholders and/or persons connected with a Director or substantial shareholder of the Company, have any interest, direct or indirect, in the Contract.

icy97

马资源赢得3.69亿DASH大道合约
Adam Aziz/theedgemarkets.com
August 15, 2017 20:16 pm MYT

（吉隆坡15日讯）马资源（Malaysian Resources Corp Bhd）宣布，赢得一项价值3亿6900万令吉的白沙罗莎阿南疏散大道（DASH）建设相关合约。

马资源在今日的一则文告中指出，已在8月14日获得Turnpike Synergy私人有限公司颁布的一项决标信（LoA），以负责承建和完成这个在“Projek Penswastaan Lebuhraya Bertingkat Damansara — Shah Alam”下被称为CB2配套：从CH.12453.000到CH.14342.371的主线和其他相关工程的建设项目。

DASH是一条全长20.1公里的三车道双程分隔车道，衔接莎阿南Puncak Perdana和八打灵再也Damansara Perdana。

Turnpike Synergy是大道特许经营公司Projek Lintasan Kota Holdings（Prolintas）的子公司，该公司也是国民投资机构（PNB）的一家子公司。

马资源表示，这个长达26个月的项目预计在今年8月杪动工，将于2019年10月完工。

该集团在另一则文告中指出，已接获由国家能源（Tenaga Nasional Bhd）颁布的决标信，负责在国能位于孟沙路（Jalan Bangsar）的总部打造一座伊斯兰会议厅和员工宿舍，合约总值4000万令吉。

该项目的第一期工程为国能位于总部的广场工作场所发展计划，由全球建筑事务所Woods Bagot负责设计。

“这项合约的期限为15个月，从接管地盘日开始算起。”

（编译：倪嫣鴽）

Type	Announcement
Subject	OTHERS
Description	PROJEK PENSWASTAAN LEBUHRAYA BERTINGKAT DAMANSARA - SHAH ALAM- PACKAGE CB2: CONSTRUCTION AND COMPLETION OF MAINLINE AND OTHER ASSOCIATED WORKS FROM CH.12453.000 TO CH.14342.372
Malaysian Resources Corporation Berhad (“MRCB” or “the Company”) is pleased to announce that the Company had on 14 August 2017 received a Letter of Acceptance from Turnpike Synergy Sdn Bhd to accept the Company’s offer to undertake and complete Package CB2: Construction and Completion of Mainline and Other Associated Works from CH.12453.000 to CH.14342.371 under the “Projek Penswastaan Lebuhraya Bertingkat Damansara – Shah Alam”. The contract price of the works package is RM369 million and the duration of the contract is 26 months. The works are anticipated to commence by end of August 2017 and to be completed by October 2019. The contract is expected to contribute positively to the future earnings of the Group. None of the Directors, substantial shareholders and/or persons connected with a Director or substantial shareholder of the Company, have any interest, direct or indirect, in the contract.

icy97

新合约虽落后预期　马资源股价仍乐观

財经 最后更新 2017年08月16日
（吉隆坡16日讯）虽然马资源（MRCB，1651，主板產业股）昨天一次过拿下2项合约，总值4亿零900万令吉，但分析员认为，该公司今年获得的新合约总值落后预期，而上述合约的盈利贡献预计也不会太显著。

上述2项合约分別为白沙罗—莎阿南大道（DASH）CB2项目和国家能源（TENAGA，5347，主板贸服股）吉隆坡总部的伊斯兰大厅和员工宿舍项目。

马资源此次是从Turnpike Synergy有限公司手里拿下价值3亿6900万令吉的白沙罗—莎阿南大道CB2项目，合约期限为26个月。该工程將在本月杪开工。来自国家能源的合约价值4000万令吉，为期15个月。

这是马资源今年以来首次拿下合约，年初至今，该公司获得的合约总值，也少於肯纳格投行分析员预期的10亿令吉新合约目標。分析员估计，若以税前盈利赚幅7%来计算，料这2项合约將为马资源带来约990万令吉的净利。

肯纳格分析员將该公司评级从「与大市同步」上调至「跑贏大市」。

不过，由於自宣佈发出附加股以来，马资源股价大大缩水，因此，分析员维持其1.32令吉的目標价。分析员相信，该公司接下来的业绩將在意料之中，不会有太好或太坏的表现。

大马银行投行分析员则维持该公司「买入」的评级以及1.89令吉目標价。

分析员表示，「我们看好这2项新合约將能支撑马资源未来2年半的建筑业务活动。不过，我们维持该公司今年的盈利预测，因为这2项合约对於马资源的整体盈利来说贡献不大。」

面临4风险

目前，该公司手持的外部订单总值约74亿令吉，而未入账销售则为15亿令吉，料可支撑该公司未来4年的盈利。2017財政年，马资源管理层设下12亿令吉的销售目標。

肯纳格分析员认为，马资源面临的4大风险包括：（一）比预期差的房地產销售；（二）高於预期的行政开销；（三）紧缩性的房地產政策；和（四）更艰难的借贷环境。【东方网财经】

icy97

马资源次季赚2337万

2017年8月30日
（吉隆坡29日讯）由于产业发展与投资及基建业务盈利下跌，拖累马资源（MRCB，1651，主板产业股）截至6月30日次季，净利按年锐减48.64%。

该集团次季净赚2337万1000令吉或每股1.07仙，上财年同季则达4550万4000令吉或每股2.44仙。

不过，营业额却从3亿8919万令吉，按年大涨94.38%至7亿5652万令吉，主要归功于工程、建筑与环境业务营业额激增。

合计上半年净利，按年下跌32.18%至3383万3000令吉，或每股1.56仙。

马资源上半年营业额按年上升55.28%至12亿8137万令吉，归功于工程、建筑与环境业务营业额激增1.1倍，以及两项发展项目Sentral Residences和墨尔本Easton Burwood，促使产业发展与投资业务营业额增加29%。

董事经理丹斯里莫哈末沙林指出，这两项主要产业发展项目已竣工，而新项目依然在构建初期，所以今年营业额将继续由工程、建筑与环境业务主导。

下半年强劲

此外，马资源与乔治肯特（GKENT，3204，主板贸服股）持有的联营公司，也就是轻快铁第三路线的工程交付伙伴（PDP），目前所带来的贡献依然很低，但随着工程进行，下半年将呈现更强劲的增长。

自马资源近期获颁4亿900万令吉新合约后，目前持有总值63亿令吉的外部客户建筑订单合约。【e南洋】

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2017	30 Jun 2016	30 Jun 2017	30 Jun 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	756,522	389,191	1,281,373	825,206
2	Profit/(loss) before tax	34,179	73,762	63,444	92,415
3	Profit/(loss) for the period	26,062	57,066	46,466	70,526
4	Profit/(loss) attributable to ordinary equity holders of the parent	23,371	45,504	33,833	49,886
5	Basic earnings/(loss) per share (Subunit)	1.07	2.44	1.56	2.73
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	1.3790		1.3650

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建筑利润扬．利息成本低．马资源享2利好

（吉隆坡30日讯）马资源（MRCB，1651，主板产业组）上半年业绩符合预期，分析员看好下半年盈利将获63亿令吉订单及16亿令吉未结账产业销售支撑，激励股价收涨，扬1仙或0.84%至1令吉20仙。

联昌研究看好该公司下半年取得强劲表现，预计未来季度盈利走强，主要是获建筑利润从2%走高至7%及较低利息成本两项利好推动。

上半年该公司整体净利因疲弱建筑利润，按年下滑32.2%。

该公司表示，将积极竞标土木工程及长期收费管理项目，竞标总额29亿令吉，项目包括基建及北马州属的净水厂工程。

近期该公司获取总值4亿零900万令吉的白沙罗-沙亚南大道（DASH）合约，已推高外围订单至63亿令吉。

因此，联昌研究维持8亿令吉年度合约获取量预测。

但也不排除，下半年税前利润可能无法达到7%预测及轻快铁3工程交付伙伴（PDP）盈利延迟至2018财政年才进账，2017财政年每股盈利存有下行风险。



文章来源：
星洲日报‧财经‧2017.08.31

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马资源赢2亿合约

2017年9月20日
（吉隆坡19日讯）马资源（MRCB，1651，主板产业股）宣布获得两项合约，总值2亿470万令吉。

马资源向交易所报备，第一项合约是为捷运公司在赛城中心和布城中心兴建高架车站，以及其他相关工作，总值1亿4580万令吉。

第二项合约则是为柔佛置地有限公司，在新山兴建拉庆（Larkin）室内体育馆，总值5890万令吉，为期18个月。

马资源相信，上述合约均将贡献未来净利。【e南洋】

Type	Announcement
Subject	OTHERS
Description	LETTERS OF ACCEPTANCE(A)     CONSTRUCTION AND COMPLETION OF ELEVATED STATIONS AND OTHER ASSOCIATED WORKS AT           CYBERJAYA CITY CENTRE AND PUTRAJAYA SENTRAL (PACKAGE S210)(B)     CONSTRUCTION OF LARKIN INDOOR STADIUM, JOHOR BAHRU, JOHOR
Malaysian Resources Corporation Berhad ("MRCB" or "the Company") is pleased to annouce that the Company had today acknowledged receipt of the Letters of Acceptance in relation to the tender bids submitted by the Company for the following projects: (a)  construction and Completion of Elevated Stations and other Associated Works at Cyberjaya City Centre and Putrajaya Sentral (Package S210) for Mass Rapid Transit Corporation       Sdn Bhd for a contract sum of RM145.8 million. (b)  construction of Larkin Indoor Stadium, Johor Bahru, Johor for Johor Land Berhad for a contract sum of RM58.9 million. The duration of the contract is 18 months from the date of site possesion. Both of the projects are expected to contribute positively to the future earnings of the Group. None of the Directors, substantial shareholders and/or persons connected with a Director or substantial shareholders of the Company, have any interest, direct or indirect, in the projects.

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Type	Announcement
Subject	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING
Description	MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB" OR THE "COMPANY")RIGHTS ISSUE
We refer to the earlier announcements in relation to the Rights Issue. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements in relation to the Rights Issue. On behalf of the Board, RHB Investment Bank wishes to announce the following:- (i)  the issue price for the Rights Shares has been fixed at RM0.79 per Rights Share (“Issue Price”); and (ii)  the exercise price for the Rights Warrants has been fixed at RM1.25 per Rights Warrant (“Exercise Price”). The Issue Price represents a discount of approximately 20.20% to the TERP of MRCB Shares as set out in item (i) below. The Issue Price was determined by the Board after taking into consideration, among others, the following:- (i)  the TERP of MRCB Shares of approximately RM0.99 based on the five (5)-day VWAMP of MRCB Shares up to and including 18 September 2017, being the market day immediately preceding the price-fixing date of the Rights Issue on 19 September 2017 (“Price-Fixing Date”), of RM1.1999; (ii)  the prevailing market conditions which include, among others, the market sentiment and the performance of the Malaysian stock market; and (iii)  a discount of not less than 20% to the TERP, which is in line with the range of discounts adopted in the pricing of recent rights issue exercises implemented by public listed companies on Bursa Securities. The Exercise Price represents a premium of approximately 26.26% to the TERP of MRCB Shares as set out in item (a) below. The Exercise Price was determined by the Board after taking into consideration, among others, the following:- (a)  the TERP of MRCB Shares of approximately RM0.99 based on the five (5)-day VWAMP of MRCB Shares up to and including 18 September 2017, being the market day immediately preceding the Price-Fixing Date, of RM1.1999; (b)  the historical share price movement of MRCB Shares; (c)  the earnings potential of MRCB Group; and (d)  a premium of not less than 20% to the TERP, after taking into consideration the funding requirements of MRCB Group over the next five (5) years. In addition to the above, RHB Investment Bank, on behalf of the Board, wishes to announce that the Company had on 19 September 2017 entered into an underwriting agreement with RHB Investment Bank (as Managing Underwriter and Joint Underwriter), CIMB Investment Bank Berhad and CIMB Islamic Bank Berhad (collectively, the “Joint Underwriters”) for the Joint Underwriters to underwrite up to 1,727,772,475 Rights Shares together with 345,554,495 Rights Warrants, representing approximately 60.54% of the total Rights Shares with Rights Warrants to be issued under the Maximum Scenario, for which no undertaking has been obtained from other shareholders of MRCB. The remaining 1,126,004,549 Rights Shares with 225,200,910 Rights Warrants, representing approximately 39.46% of the total Rights Shares with Rights Warrants to be issued under the Maximum Scenario represents the entitlements of the Employees Provident Fund Board and Gapurna Sdn Bhd, the major shareholders of MRCB, under the Rights Issue, for which they have provided written undertakings to subscribe in full for their respective entitlements under the Rights Issue as at the entitlement date. The Company had also on even date executed the deed poll constituting up to 570,755,405 Rights Warrants to be issued pursuant to the Rights Issue. This announcement is dated 19 September 2017.

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EX-date	02 Oct 2017
Entitlement date	04 Oct 2017
Entitlement time	05:00 PM
Entitlement subject	Rights Issue
Entitlement description	Renounceable rights issue of up to 2,853,777,024 new ordinary shares in Malaysian Resources Corporation Berhad ("MRCB") ("MRCB Shares") ("Rights Shares") at an issue price of RM0.79 per Rights Share, together with up to 570,755,405 free detachable warrants ("Rights Warrants"), on the basis of one (1) Rights Share for every one (1) existing MRCB Share held by the entitled shareholders as at 5.00 p.m. on 4 October 2017 ("Entitlement Date") and one (1) free Rights Warrant for every five (5) Rights Shares subscribed for ("Rights Issue")
Period of interest payment	to
Financial Year End	31 Dec 2016
Share transfer book & register of members will be	to   closed from (both dates inclusive) for the purpose of determining the entitlement
Registrar or Service Provider name, address, telephone no	Symphony Share Registrars Sdn BhdLevel 6, Symphony HousePusat Dagangan Dana 1Jalan PJU 1A/4647301 Petaling JayaSelangor Darul EhsanTel. No.: 03- 7849 0777Fax. No.: 03- 7841 8151/ 52
Payment date
a.Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	04 Oct 2017
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit	02 Oct 2017
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units) (If applicable)	2,853,777,024
Entitlement indicator	Ratio
Ratio	1 : 1
Rights Issue/Offer Price	Malaysian Ringgit (MYR) 0.790

Despatch date	06 Oct 2017
Date for commencement of trading of rights	05 Oct 2017
Date for cessation of trading of rights	12 Oct 2017
Date for announcement of final subscription result and basis of allotment of excess Rights Securities	25 Oct 2017
Listing Date of the Rights Securities	03 Nov 2017

Last date and time for	Date	Time
Sale of provisional allotment of rights	11 Oct 2017	at	05:00:00 PM
Transfer of provisional allotment of rights	16 Oct 2017	at	04:00:00 PM
Acceptance and payment	20 Oct 2017	at	05:00:00 PM
Excess share application and payment	20 Oct 2017	at	05:00:00 PM

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逾2億工程入袋 券商上修馬資源財測

2017年9月20日
（吉隆坡20日訊）馬資源（MRCB，1651，主要板房產）獲頒兩項總值2億470萬令吉工程，加上發行附加股所籌獲的資金可節省利息開支，獲肯納格證券研究上調財測。

肯納格證券研究指出，通過近期獲得的新合約，馬資源至今已獲總值4億6790萬令吉工程。

該公司周二（19日）向馬證交所報備，接獲捷運機構私人有限公司發出價值1億4580萬令吉合約，為S210配套的賽城和布城建築和完成高架站及相關工程。

至于另一項合約，是為柔佛土地公司建築拉慶（Larkin）室內體育館，價值5890萬令吉，估計耗時18個月完工。

另外，馬資源1配1發售附加股，每股發售價79仙，可最少籌集17億令吉。

豐隆投銀研究認為，附加股所籌獲的資金可讓該公司的凈負債率從2017財年次季的99%，降低至47%，同時可節省利息開支。

由于附加股可減少利息開銷，肯納格證券研究認為該公司可改善財務狀況，將2018財年核心盈利預測調高49%。

同時，肯納格證券研究相信，馬資源或脫售柔佛東部疏散大道（EDL），也是催化劑之一。

豐隆投銀研究和肯納格證券研究，分別將該股的投資評級維持在“守持”和“跑贏大市”，附加股除權后的目標價分別設在1令吉和1.14令吉。【中国报财经】

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Type	Announcement
Subject	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING
Description	MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB" OR THE "COMPANY")RIGHTS ISSUE
We refer to the earlier announcements in relation to the Rights Issue. Unless otherwise stated, the terms used herein shall have the same meaning as defined in the said announcements in relation to the Rights Issue. On behalf of the Board, RHB Investment Bank wishes to announce that as at the closing date and time for acceptance, excess application and payment for the Rights Issue at 5.00 p.m. on 20 October 2017 (“Closing Date”), the Company received total valid acceptances and excess applications for 2,354,165,099 Rights Shares with 470,833,020 Rights Warrants. This represented an over-subscription of 161,571,814 Rights Shares with 32,314,363 Rights Warrants or approximately 7.37% over the total number of Rights Shares with Rights Warrants available for subscription under the Rights Issue. Details of the total valid acceptances and excess applications received as at the Closing Date are set out in Table 1 of this Announcement. The Rights Shares with Rights Warrants which are not taken up or not validly taken up will be allotted to the Entitled Shareholders and/ or their renouncee(s) and/ or transferee(s) (if applicable), who have applied for the Excess Rights Shares with Rights Warrants in the following order of priority, as set out in Section 11.6 of the Abridged Prospectus dated 4 October 2017:- (i)            firstly, to minimise the incidence of odd lots; (ii)           secondly, on a pro-rata basis and in board lot to the Entitled Shareholders who have applied for the Excess Rights Shares with Rights Warrants, taking into consideration their respective shareholding as at the Entitlement Date; (iii)          thirdly, on a pro-rata basis and in board lot to the Entitled Shareholders who have applied for the Excess Rights Shares with Rights Warrants, taking into consideration the quantum of their respective Excess Rights Shares with Rights Warrants applied for; and (iv)          lastly, on a pro-rata basis and in board lot to the renouncee(s) and/ or transferee(s) (if applicable) who have applied for the Excess Rights Shares with Rights Warrants, taking into consideration the quantum of their respective Excess Rights Shares with Rights Warrants applied for. In the event there is any balance Excess Rights Shares with Rights Warrants after steps (i) to (iv) are carried out, steps (ii) to (iv) will be repeated to allocate the balance Excess Rights Shares with Rights Warrants. The Rights Shares with Rights Warrants are expected to be listed on the Main Market of Bursa Securities on 3 November 2017. This announcement is dated 25 October 2017.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5581877

Attachments MRCB_Table 1.pdf

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东疏大道免路费．马资源：详情待公布

（吉隆坡27日讯）马资源（MRCB,1651,主板产业组）发文告表示，针对旗下柔佛东部疏散大道（EDL）将免收过路费的事宜，该公司将在收到政府进一步的详情之后做出必要宣布。

首相拿督斯里纳吉周五提呈2018年财政预算案时宣布，明年1月1日起废除国内4个大道收费站，包括雪州沙亚南峇都知甲、双溪拉骚、吉打黑木山和柔佛东部疏散大道。

文章来源：
星洲日报／财经‧2017.10.28

Type	Announcement
Subject	OTHERS
Description	EASTERN DISPERSAL LINK HIGHWAY
We refer to the statement made in relation to the Eastern Dispersal Link highway in the speech by The Honourable Prime Minister, Dato’ Sri Mohd Najib bin Tun Haji Abdul Razak during the tabling of Budget 2018 in the Dewan Rakyat today. Malaysian Resources Corporation Berhad will make the necessary announcement upon receipt of further details from the Government.

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东疏大道亏损连连．政府若回购马资源得利

（吉隆坡28日讯）政府废除新山东部疏散大道（EDL）收费，分析员预计，政府可能从马资源（MRCB,1651,主板产业组）手中回购该大道，料可为马资源带来重估催化剂。

《The Edge》指出，政府在2018财政年预算案上宣布废除东疏大道收费，但是，马资源的特许经营权却没有作废，因此，可以向政府索偿，而一旦政府回购该亏损连连的大道，料能为马资源带来利好。

马资源已经清楚表明有意脱售东疏大道，只是一直未寻得合适的买家，且没有透露出售价。

除了该亏损大道外，马资源也背负了11亿5000万令吉的债务。

东疏大道的建设成本为12亿令吉，目前，马资源必须为该大道每年承担9500万至1亿令吉的债务，而另3000万令吉为摊销成本。

文章来源：
星洲日报／财经‧2017.10.28

icy97

大华继显：取消EDL过路费可能使马资源受益
Sulhi Azman/theedgemarkets.com
October 30, 2017 18:17 pm MYT

（吉隆坡30日讯）大华继显指出，明年起取消柔佛东部疏散大道（Eastern Dispersal Link，EDL）过路费可能使持有该大道34年特许经营权的马资源（Malaysian Resources Corp Bhd）受益。

虽然具体细节很少，但大华继显提出两种可能，即马资源将获赔偿未来的过路费收入，或政府“直接”收购EDL。

大华继显今日在报告指出，EDL目前每年失血约9000万令吉，主要是财务成本，占马资源总债务的10亿令吉。

截至2016年12月31日，马资源的贷款额达29亿4000万令吉，其中包括与EDL相关的逾10亿令吉债务工具。

马资源独资子公司MRCB Southern Link Bhd是EDL的资金渠道，并发行8亿4500万令吉的回教债券，被RAM评估服务公司评为“BB3”，展望“负面”，因履行财务义务方面的安全性持续低。

RAM在7月13日的文告指出，EDL继续依靠股东的支援来偿还财务费用。由于低于预期的交通流量，导致创造现金和债务还款之间持续失配。

首相拿督斯里纳吉上周五在2018年度财政预算案中宣布，政府将从2018年1月1日起，取消EDL的过路费。

在首相发表演讲的数小时后，马资源向大马交易所报备时表示，一旦收到政府进一步细节后，将做出必要的公告。

8.1公里长的EDL，建设成本是10亿令吉，从南北大道班兰交汇处至新山武吉查卡（Bukit Cagar）的关卡。

自2014年8月以来，马资源一直收取单程6.80令吉的过路费。


（编译：陈慧珊）

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Profile for Securities of PLC

MALAYSIAN RESOURCES CORPORATION BERHAD

Instrument Category	Securities of PLC
Instrument Type	Warrants
Description	Renounceable rights issue of up to 2,853,777,024 new ordinary shares in Malaysian Resources Corporation Berhad ("MRCB") ("MRCB Shares") ("Rights Shares") at an issue price of RM0.79 per Rights Share, together with up to 570,755,405 free detachable warrants ("Rights Warrants"), on the basis of one (1) Rights Share for every one (1) existing MRCB Share held by the entitled shareholders as at 5.00 p.m. on 4 October 2017 and one (1) free Rights Warrant for every five (5) Rights Shares subscribed for ("Rights Issue")

Listing Date	03 Nov 2017
Issue Date	30 Oct 2017
Issue/ Ask Price	Not Applicable
Issue Size Indicator	Unit
Issue Size in Unit	438,518,657
Maturity	Mandatory
Maturity Date	29 Oct 2027
Revised Maturity Date
Name of Guarantor	Not Applicable
Name of Trustee	Not Applicable
Coupon/Profit/Interest/Payment Rate	Not Applicable
Coupon/Profit/Interest/Payment Frequency	Not Applicable
Redemption	Not Applicable
Exercise/Conversion Period	10.00   Year(s)
Revised Exercise/Conversion Period	Not Applicable
Exercise/Strike/Conversion Price	Malaysian Ringgit (MYR)   1.2500
Revised Exercise/Strike/Conversion Price	Not Applicable
Exercise/Conversion Ratio	1:1
Revised Exercise/Conversion Ratio	Not Applicable
Mode of satisfaction of Exercise/ Conversion price	Cash
Settlement Type/ Convertible into	Physical (Shares)