Malaysian Resources Corporation Berhad (MRCB) Secures Major Contract for Shah Alam Sports Complex
Kuala Lumpur, May 16, 2025 — Malaysian Resources Corporation Berhad (MRCB), a leading public company listed on Bursa Malaysia, has announced a significant development in its portfolio of projects. The company’s subsidiary, Lembaran Prospek Sdn Bhd (LPSB), has been awarded a contract to construct the Shah Alam Sports Complex (KSSA), a project valued at RM2.94 billion. This contract, secured from Menteri Besar Selangor Incorporated (MBI), marks a pivotal expansion in MRCB’s engineering and construction capabilities.
The project, which includes the demolition of the existing Stadium Shah Alam, will be financed through a combination of land and cash payments. This strategic move not only underscores MRCB’s robust presence in the construction sector but also highlights its ability to secure large-scale projects through innovative financing solutions.
Key Details of the Project:
- Project Value: RM2.94 billion
- Funding: Combination of land and cash
- Demolition Costs: RM35 million for Stadium Shah Alam
- Land Valuation: Up to RM200 million
The handover ceremony for the letter of acceptance was graced by notable figures, including Raja Muda of Selangor, Tengku Amir Shah Sultan Sharafuddin Idris Shah, Selangor Menteri Besar Datuk Seri Amirudin Shari, and Selangor state secretary Datuk Dr Ahmad Fadzli Ahmad Tajuddin, reflecting the project’s significance to the region.
Financial Overview of MRCB:
As of May 6, 2025, MRCB’s close price stood at MYR 0.495, with a 52-week high of MYR 0.74 and a low of MYR 0.365. The company boasts a market capitalization of MYR 2,233,754,880 and a price-to-earnings ratio of 35.3147. MRCB’s diverse operations span the extraction and processing of natural resources such as iron ore, coal, and palm oil, alongside its engineering, construction, and project management services.
Market Context:
In the broader market context, MRCB’s announcement comes amidst various corporate developments. Notably, Maxis Bhd reported a 5% increase in net profit for the first quarter of 2025, driven by effective cost control measures. However, service revenue experienced a slight decline due to new commercial arrangements and reduced interconnect rates.
Forward-Looking Perspective:
MRCB’s successful acquisition of the Shah Alam Sports Complex project positions the company favorably for future growth. The project not only enhances MRCB’s portfolio but also strengthens its market position in the construction and engineering sectors. As MRCB continues to leverage its expertise in natural resource extraction and project management, stakeholders can anticipate sustained growth and value creation.
In conclusion, MRCB’s strategic expansion through the Shah Alam Sports Complex project underscores its commitment to delivering large-scale, innovative solutions. This development is a testament to the company’s resilience and adaptability in a dynamic market environment.