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Utilities

MMC Corp. Bhd.

Company Background

MMC is a leading utilities and infrastructure company with energy, ports and construction businesses.

Malakoff, the group's energy arm, generates 5,020 megawatts of electricity, nearly a quarter of mainland Malaysia's power generation capacity. Another subsidiary, Gas Malaysia is the sole provider of natural gas to industrial and residential customers in the country through its nearly 2,000km long pipelines.

MMC operates Malaysia's largest container terminal in the Port of Tanjung Pelepas, in the southeast coast near Singapore. The port can handle up to 10.5 million twenty-foot equivalent units annually.

The group's construction company is one of the largest in the country, and is known for undertaking major infrastructure projects across the country.

MMC is controlled by billionaire Syed Mokhtar Albukhary, an ethnic Malay with roots in Central Asia. The company is headed by Group Managing Director Che Khalib Mohamad Noh, who previously headed the state electric company Tenaga Nasional.

Business Summary

MMC Corp. Bhd. operates as an investment holding company, which engages in the construction, mining, and mineral exploration business. It operates through the following segments: Ports and Logistics, Energy and Utilities, Engineering, Airport, and Others. The Ports and Logistics segment handles operations and management of several ports in Malaysia and Saudi Arabia. The Energy and Utilities segment offers power generation and water desalination, natural gas distribution, water solutions, and environment management. The Engineering segment undertakes engineering and construction works for key civil and infrastructure projects. The Airport segment deals with airport operations. The Others segment represents investment holding entities. The company was founded in 1911 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2020 MYRUSD
Revenue4,492.74M1,069.13M
Gross Profit2,063.08M490.95M
Operating income1,179.26M280.63M
Income before tax283.10M67.37M
Net income375.29M89.30M
EBITDA2,039.56M485.35M
Diluted EPS0.120.02
Dividends Per Share0.050.01
Total Assets27,282.92M6,782.57M
Total liabilities16,971.44M4,219.12M
Total equity9,510.27M2,364.27M
Operating cash flow2,238.40M532.67M
Currency in MYRCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 4,627.38M 4,160.09M 4,983.77M 4,711.79M 4,492.74M
Gross Profit 1,315.16M 1,549.47M 1,664.31M 1,887.86M 2,063.08M
Operating income 804.57M 797.08M 876.94M 990.34M 1,179.26M
Income before tax 672.74M 436.11M 402.92M 220.14M 283.10M
Net income 549.66M 209.78M 220.08M 255.16M 375.29M
EBITDA 1,256.64M 1,263.00M 1,421.33M 1,770.77M 2,039.56M
Diluted EPS 0.18 0.06 0.07 0.08 0.12
Dividends Per Share 0.04 0.04 0.04 0.04 0.05
Total Assets 23,204.46M 22,795.27M 25,304.94M 26,445.76M 27,282.92M
Total liabilities 12,714.48M 12,587.25M 15,012.08M 16,338.98M 16,971.44M
Total equity 9,532.56M 9,490.22M 9,559.65M 9,344.03M 9,510.27M
Operating cash flow 490.91M 894.70M 823.37M 2,039.10M 2,238.40M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 1,116.99M 967.57M 1,235.01M 1,137.29M 1,069.13M
Gross Profit 317.46M 360.38M 412.43M 455.67M 490.95M
Operating income 194.21M 185.38M 217.31M 239.04M 280.63M
Income before tax 162.39M 101.43M 99.84M 53.13M 67.37M
Net income 132.68M 48.79M 54.53M 61.58M 89.30M
EBITDA 303.33M 293.75M 352.21M 427.41M 485.35M
Diluted EPS 0.04 0.01 0.01 0.02 0.02
Dividends Per Share 0.00 0.00 0.00 0.01 0.01
Total Assets 5,172.64M 5,632.63M 6,123.39M 6,465.16M 6,782.57M
Total liabilities 2,834.25M 3,110.26M 3,632.68M 3,994.37M 4,219.12M
Total equity 2,124.95M 2,345.00M 2,313.28M 2,284.32M 2,364.27M
Operating cash flow 118.50M 208.09M 204.03M 492.18M 532.67M

Valuation Measures

Dec 2020
PER7.30
ROA1.39%
ROE3.98%
Operating margin26.24%
Profit margin8.35%

Key executives

  • Group Managing Director & Director: Che Khalib bin Mohamad Noh
  • COO, Head-Technical & Engineering: Mohd Razin Bin Ghazali
  • Group Chief Financial Officer: Badrulhisyam bin Fauzi
  • Director-Engineering & Contracts: Weng Loon Chee
  • Head-Group Strategy: Asyraf Suhaimi Sulaiman

Shareholders

  • AL BUKHARY SERI SYED MOKHTAR SHAH BIN SYED NOR (51.7%)
  • Permodalan Nasional Bhd. (19.0%)
  • Employees Provident Fund (1.7%)
  • LAM KONG TANG /MMC/ (1.6%)
  • Eastspring Investments (Singapore) Ltd. (0.8%)
  • Allianz Malaysia Bhd. (0.7%)
  • Urusharta Jamaah Sdn. Bhd. (0.5%)
  • Kumpulan Wang Persaraan (0.3%)
  • Great Eastern Life Assurance Co. Ltd. (0.3%)
  • Dimensional Fund Advisors LP (0.3%)

Contact Details

  • Website:http://www.mmc.com.my
  • Address: Persiaran Raja Chulan, Wisma Budiman, Kuala Lumpur, 50200, Malaysia
  • Phone: +60.3.2071.1000

Related Companies

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  • Senai Airport City Sdn. Bhd.
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  • Jazan Economic City Land Ltd.
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  • Equiventures Sdn. Bhd.
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  • MMC Saudi Arabia Ltd.
  • Nucleus Avenue (M) Sdn. Bhd.
  • Pelabuhan Tanjung Pelepas Sdn. Bhd.
  • Senai Airport Terminal Services Sdn. Bhd.
  • Tronoh Holdings Selangor Sdn. Bhd.
  • Timah Securities Bhd.
  • MMC-Shapadu (Holdings) Sdn. Bhd.
  • Labohan Dagang Galian Sdn. Bhd.
  • Anglo Oriental Nominees Australia Pty Ltd.
  • Anglo Oriental Malaya Sdn. Bhd.
  • Anglo-Oriental (Annuities) Sdn. Bhd.
  • NCB Holdings Bhd.
  • MMC Engineering Group Bhd.
  • Johor Port Bhd.
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Competitors

    Last Updated on 15 Dec, 2021

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