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Since the unprecedented challenges of 2020 and 2021, the property industry has faced headwinds, both here in Malaysia and globally.
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MRCB’s performance in 2024 focused on strengthening our foundation and positioning for future opportunities.
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Human Capital
Intellectual Capital
Natural Capital
Social & Relationship Capital
Financial Capital
Manufactured Capital
Property Development & Investment
Engineering, Construction & Environment
Facilities Management & Parking
Strengthen Core for Sustainable Returns
MRCB will continue to tender for infrastructure construction projects with relatively high pre-qualification requirements and barriers to entry, particularly in the rail, energy transition, water and climate adaptation infrastructure sectors, and any other new market opportunities where MRCB’s technical expertise and skill sets can create value. We will also prioritise the implementation and construction of the infrastructure construction projects recently secured. We target to launch RM3.9 billion of new property development projects in 2025 and will continue to focus on completing our existing property development projects.
To continue to grow our construction order book and property development pipeline in Malaysia and overseas and improve the consistency of our long-term revenue streams through a more diversified project and geographic base.
DIVERSIFICATION & OPERATIONAL EXPANSION
MRCB will continue to execute its plans to implement the pipeline of RM3.5 billion of projects in Australia and New Zealand in 2025. The plan includes the continuation of the marketing of VISTA in Gold Coast, as well as the official launch of The Symphony Centre in Auckland. This is ahead of the project site’s handover by the local authorities after completion of the rail station, which the project will sit above and be integrated with. We will also be marketing MARIS, our property development in Southport, Gold Coast, when it launches in 2025. We will continue to explore expansion opportunities in Australia and New Zealand, as well as seek other overseas opportunities. We will also continue to tender for infrastructure construction projects in East Malaysia.
To grow the Group’s Australia and New Zealand businesses, aiming for them to become significant and sustainable long-term contributors to the Group, by recycling capital and reinvesting the profits from existing projects in these territories into a greater number of new projects.
MRCB will continue to negotiate and submit tenders for climate change adaptation infrastructure construction projects, large-scale solar, and other clean energy projects, as well as negotiating the conclusion of the terms for the WTE plant service agreement.
Continue to expand into new market segments to grow our construction order book and property development pipeline to improve the consistency of our long-term revenue streams through a more diversified project and market segment base.
Technology Adoption & Innovation
Drive further productivity and cost efficiencies through digitalisation and automation, including the adoption of Artificial Intelligence (AI) tools, to further reduce headcount through natural attrition and office space rationalisation.
To continue adopting digitalisation and automation, including AI and other new technologies for leaner and more efficient operations, and to maintain cost competitiveness.
To complete the construction of Residensi Tujuh, establishing it as a reference development that showcases modular construction and our modular technology, MBS, and to use MBS to construct more residential projects. Expand applications to other construction projects in the public and private sector such as schools, affordable housing, Centralised Labour Quarters (CLQs), External Labour Quarters (ELQs), police accomodation, and prisons, where speed of construction is a client priority, and market these to relevant stakeholders.
To increase the percentage of property developments constructed using MBS technology in Malaysia.
Quality Products & People
MRCB will continue to proactively identify and address emerging challenges to our business, ensure all risks are well mitigated, continue our commitment towards upholding good ethics and corporate governance, comply with all best practices, and safeguard the interests of all employees and stakeholders.
To further improve operational and sustainability standards by developing strategies, adopting best practices, and meeting global standards that will allow MRCB to compete with the very best internationally.
We will continue to focus on our talent development and succession planning initiatives, including Individual Development Plans, to build a competent and driven workforce with clearly defined career paths, ensuring our people can grow with the organisation. Our new group-wide Learning & Development Framework will be implemented in early 2025.
To have a sustainable, dynamic, engaged, and nimble workforce that can adapt to changing environments. We want to ensure a smooth and sustainable business operations while aiming to be recognised as a trusted and preferred employer.
MRCB embraces a sustainability-first mindset, integrating it seamlessly into our business thinking, decision-making, processes, and project execution. By embedding sustainability into everything we do, we aim to make it an inherent part of our operations.
MRCB is committed to fostering a future where individuals, communities, and societies can thrive together. Social sustainability is a key priority for us. Our approach focuses on building inclusive, resilient, and harmonious communities while empowering individuals to reach their full potential. By aligning our social goals with economic and environmental sustainability, we aim to build a foundation for equitable and progressive communities.
A Commitment to Environmental Stewardship
MRCB is committed to advancing environmental sustainability, which is an integral part of our business operations. We are working towards achieving Net Zero GHG Emissions by 2050, in line with the Paris Agreement and Malaysia’s national target for Net Zero across Scope 1, 2, and 3 by the same year.
