MAH SING BACKS GOVT INITIATIVES
Strategy in line with group’s aim to expand in areas with large population growth
MAH Sing Group Bhd will support the government’s initiatives to boost home ownership and will meet the demand for quality, affordable housing in strategic locations.
“This augurs well for our growth strategy as the group is on the lookout for more landbank, with the key focus in the Klang Valley as it resonates with our aim to expand in areas with large population growth.
“Our primary focus is to acquire land in strategic locations with good connectivity and accessibility that are ready for immediate development as we believe there is demand for the right product in the right location, at the right pricing,” said Mah Sing founder and group managing director Tan Sri Leong Hoy Kum after the company’s annual general meeting, here, yesterday.
Mah Sing’s landbank stood at 840ha as of March 31.
The group sits on a healthy balance sheet of cash and bank balances of RM1.3 billion.
Leong said Mah Sing was confident of achieving at least RM1.5 billion sales this year as 81 per cent of its residential properties were priced below RM700,000 each.
“Our latest residential development, M Oscar, further reinforces our commitment to provide quality homes.
“Given our strong track record in achieving healthy take-up rates for our affordably-priced projects such as M Centura and M Vertica, we are confident M Oscar will receive encouraging response from the buyers as it is strategically located in the prime area, with easy access to highways and attractive lifestyle amenities.”
He also said the group was in talks with potential partners from China to set up a permanent industrialised building system precast concrete plant in Kajang, Selangor.
He said the plant would be able to produce precast concrete panels, concrete slab columns, concrete wall panels and beams.
“If this collaboration is successful, it will enhance Mah Sing’s offerings in a sustainable way,” Leong added.