MRCB shares fall on proposed land sale
20 Mar 2018 / 11:45 H.
PETALING JAYA: Malaysian Resources Corp Bhd's share price fell one sen or 0.99% this morning, after announcing that its unit is selling a 1.866-acre piece of land in Kuala Lumpur to the Social Security Organisation (Socso) for RM323 million cash.
At 10.54 am, the stock stood at RM1 with 2.37 million shares changing hands, giving it a market capitalisation of RM4.4 billion.
Yesterday, MRCB said the group is expected to realise an estimated after-tax gain of RM30 million from the proposed disposal, which is expected to improve its consolidated earnings per share for the financial year ending Dec 31, 2018 (FY18).