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Industrial Services

MMC Corp. Bhd.

  • 1.15 MYR
  • +0.02
  • +1.77%
  • Malaysia
    Jun 25, 2019
  • Ticker
    KLS(2194)
  • Prev. close
    1.13
  • Market cap (MYR)
    3,440.91M
  • Market cap (USD)
    830.04M
  • Shares
    3,045.05M

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. It operates through the following segments: Ports and Logistics; Energy and Utilities; and Engineering and Construction. The Ports and Logistics segment operates Port Tanjung Pelepas, Johor Port, Red Sea Gateway Terminal, and Senai Airport Terminal. The Energy and Utilities segment supplies natural gas to the non-power sector, and treated water in Johor. The Engineering and Construction segment focuses on infrastructure and construction projects such as Klang Valley Mass Rapid Transit, Bukit Berapit twin-bore tunnel, and Stormwater Management and Road Tunnel. The company was founded in 1981 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2018 MYRUSD
Revenue4,983.77M1,235.01M
Gross Profit1,119.92M277.52M
Operating income876.94M217.31M
Income before tax402.92M99.84M
Net income220.08M54.53M
EBITDA1,421.33M352.21M
Diluted EPS0.070.01
Dividends Per Share0.040.00
Total Assets25,304.94M6,123.39M
Total liabilities15,012.08M3,632.68M
Total equity9,559.65M2,313.28M
Operating cash flow823.37M204.03M
Currency in MYRCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 3,171.01M 3,012.97M 4,627.38M 4,160.09M 4,983.77M
Gross Profit 837.70M 1,177.72M 1,315.16M 1,083.55M 1,119.92M
Operating income 424.13M 286.29M 804.57M 797.08M 876.94M
Income before tax 290.12M 364.97M 672.74M 436.11M 402.92M
Net income 318.74M 244.19M 549.66M 209.78M 220.08M
EBITDA 715.78M 1,032.24M 1,256.64M 1,263.00M 1,421.33M
Diluted EPS 0.16 0.10 0.18 0.06 0.07
Dividends Per Share 0.03 0.03 0.04 0.04 0.04
Total Assets 46,031.52M 22,208.37M 23,204.46M 22,795.27M 25,304.94M
Total liabilities 32,729.75M 11,938.91M 12,714.48M 12,587.25M 15,012.08M
Total equity 7,505.43M 9,037.29M 9,532.56M 9,490.22M 9,559.65M
Operating cash flow 2,168.02M 651.11M 490.91M 894.70M 823.37M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 969.13M 770.64M 1,116.99M 967.57M 1,235.01M
Gross Profit 256.02M 301.23M 317.46M 252.01M 277.52M
Operating income 129.62M 73.22M 194.21M 185.38M 217.31M
Income before tax 88.66M 93.35M 162.39M 101.43M 99.84M
Net income 97.41M 62.45M 132.68M 48.79M 54.53M
EBITDA 218.75M 264.02M 303.33M 293.75M 352.21M
Diluted EPS 0.04 0.02 0.04 0.01 0.01
Dividends Per Share 0.01 0.00 0.00 0.00 0.00
Total Assets 13,165.03M 5,172.55M 5,172.64M 5,632.63M 6,123.39M
Total liabilities 9,360.71M 2,780.69M 2,834.25M 3,110.26M 3,632.68M
Total equity 2,146.55M 2,104.87M 2,124.95M 2,345.00M 2,313.28M
Operating cash flow 662.59M 166.53M 118.50M 208.09M 204.03M

Valuation Measures

Dec 2018
PER11.47
ROA0.91%
ROE2.31%
Operating margin17.59%
Profit margin4.41%

Key executives

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

Shareholders

  • AL BUKHARY SERI SYED MOKHTAR SHAH BIN SYED NOR (51.7%)
  • Permodalan Nasional Bhd. (20.2%)
  • Urusharta Jamaah Sdn. Bhd. (7.6%)
  • Employees Provident Fund (5.2%)
  • AIA Bhd. (3.2%)
  • Kumpulan Wang Persaraan (1.3%)
  • Dimensional Fund Advisors LP (0.7%)
  • Eastspring Investments (Singapore) Ltd. (0.7%)
  • Ivt (MY) (0.6%)
  • Norges Bank Investment Management (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

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  • Anglo Oriental Nominees Australia Pty Ltd.
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  • Johor Port Bhd.
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Competitors

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