KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) (1651)is expecting more government jobs under the Economic Transformation Programme (ETP), having bid for projects worth over RM2 billion-Chief executive officer Datuk Mohd Razeek Hussain said one of its key performance indicators for 2011 is to grow the company's revenue by 20 per cent to RM1-3 billion and achieve RM150 million in profit before tax (PBT)- For fiscal 2010, MRCB posted a PBT of RM97-6 million on revenues of RM1-1 billion- Among the projects MRCB is bidding for are package A and B of the LRT extension project, worth some RM1 billion and RM600 million respectively- "If we can get one of the two packages, we would have achieved 40 per cent of our target," he said yesterday after the company's shareholders meeting- MRCB has secured two projects under the ETP - the development of the 6-star St Regis Hotel at Kuala Lumpur Sentral in Brickfields, and the River of Life project- Razeek said MRCB is negotiating with the government on the scope of works for the project, where it holds the letter of intent with its joint-venture partner, Ekovest Bhd- The project includes cleaning and beautifying the Klang and Gombak river, and planning some developments along it- He declined to reveal the project cost- OSK Research estimates the project to be worth RM8 billion to RM10 billion- Meanwhile, MRCB, which has RM4-2 billion worth of ongoing property projects, plan to launch three new developments valued at RM2-6 billion between May and December this year- These include an office tower and residences at KL Sentral and a high-end condominium project at Jalan Kia Peng, Kuala Lumpur- MRCB is also aiming to launch Penang Sentral soon, Razeek said- "We are looking at substantial growth this year, majority of that will be contributed by our existing projects," he said- ...

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