Leading lifestyle developer
MAH Sing Group Bhd has always been on the forefront of Malaysia’s property development, making waves as a key player in the property and development industry with the aim of providing affordable living and lifestyle solutions.
The group is basking in the significant growth of its operations and business expansion with approximately RM1.1bil in cash and bank balances as well as a net gearing of 0.09 times as of March 31 this year.
The final- stage billing of the group amounts to approximately RM474mil for the remaining properties set to be completed this year and it is still exploring land acquisition and joint venture opportunities.
Mah Sing is recognised for exceptional quality in its property projects and this is evident in its consumer response.
According to Tan Sri Datuk Seri Leong Hoy Kum, group managing director and group chief executive for Mah Sing Group Bhd, when Mah Sing’s buyers purchase one of their commercial housing units, it is likely that they will call it home for a significant portion of their lives.
“We ensure all of our developments are up to mark when it comes to quality. Each of our developments undergoes stringent quality assessments and we have also won numerous awards that highlight our dedication in delivering quality homes,” he says.
With a key focus in ramping up property development, Mah Sing will be involved in the development of Greater Kuala Lumpur and Klang Valley, Johor Baru, Penang and other states with strong economic prospects.
Since its incorporation as a plastic trading firm in 1965, Mah Sing has come a long way. The company moved to plastic manufacturing in 1986 and business boomed with proprietary and original equipment manufacturing of automotive and electrical and electronic products.
The company was listed on the Bursa Malaysia second board under the industrial sector in 1992. However, due to a change in the economic climate, the company sought to embrace a new business perspective in the mid- 1990s.
Twenty- two years since the company ventured into the property sector, Mah Sing is now one of the few fully integrated property developers in Malaysia with high- rise and landed residential property, commercial centres and industrial parks.
“We were facing thinning margins and, in a bid to protect shareholders’ value, I knew I had to forge a new path for Mah Sing. With that, we ventured into the property industry in 1994 with our maiden property project in Ulu Yam, Selangor. It was a 45- acre ( 18.2ha) project comprising linked homes,” says Leong.
Holding on tightly
Although this year has proven to be a challenging year in terms of sales and economy, Mah Sing is confident of its solid foundation built over 20 years.
With the company’s ability to be responsive to market conditions, Mah Sing is able to maintain its position as one of Malaysia’s leading property developers.
The company was also selected as one of Macquarie Research’s ( a global investment banking and diversified financial services group) top 10 picks in the property sector for Malaysia. In addition to this, Mah Sing is on the UBS Global Recommendation list.
As a market- driven developer, Mah Sing has a particular interest in developing homes around the central region with 89% of Mah Sing’s planned residential launches priced below RM1mil, 68% priced below RM700,000 and 50% below RM500,000.
The company has a dedicated research team that conducts in- depth studies on the market needs and thus provides information on the latest market trends.
Mah Sing’s unbilled sales were valued at approximately RM4.53bil as of the end of this year’s first quarter, which makes up approximately 1.61 times the revenue recognised from the group’s property division last year.
The conclusion of this year’s first quarter also recorded the remaining gross development value and unbilled sales of approximately RM32.25bil, which is projected to support the company’s revenue growth for eight to nine years.
In terms of operations, Mah Sing is dedicated to stepping up efforts to reach its sales target of RM2.3mil with upcoming launches in the second half of this year.
“We look forward to the launches of Cerrado@ Southville City, the final towers of Lakeville Residence and D’sara Sentral as well as M Residence 2 to contribute to our sales target.
“The group is also looking to showcase Ferringhi Residence 2 on Penang Island as well as The Greenway@ Meridin East in Iskandar Malaysia, Johor Baru, later this year. Meridin East is our largest township in Malaysia and we expect it to be another key performer for the group, together with Southville City@ KL South,” says Leong.
Mah Sing continues to keep a lookout for land banks in strategic locations with good accessibility that fits the group’s business model. The group is taking the initiative to mould valueenhancing initiatives that will further strengthen its position in the market.
A clear example is Southville City, a 428- acre ( 173.2ha) township located in Bangi. The group intends to leave the remaining land in its natural green state to maintain the township’s green concept.
In addition to this, there will be eco- friendly features to encourage the community to adopt a healthy and active lifestyle.
“Land banks represent our raw materials and we always look at enhancing the value of the land,” he says.
As a whole, Mah Sing is committed to being a marketdriven developer – from the selection of land banks at strategic locations to the design and planning of properties to customer experience when the property is handed to them.
Where does the group see itself in 10 years?
“I hope to see Mah Sing continue to grow and maintain its stature as one of the top developers in the country. We would like to continue our township development, niche industrial development as well as strategic commercial and malls development,” says Leong.
“My ultimate goal is to see Mah Sing recognised as a world- class developer.”