Latest news with #MahSingGroupBhd
Barnama
3 days ago
- Business
- Barnama
Mah Sing Posts Higher Net Profit Of RM66.04 Mln In 1Q 2025, On Track For Full-Year Sales Target
BUSINESS KUALA LUMPUR, May 30 (Bernama) -- Mah Sing Group Bhd's net profit increased to RM66.04 million in the first quarter ended March 31, 2025 (1Q 2025) from RM60.05 million in 1Q 2024, supported by an increase in the property development segment. Revenue expanded to RM649.69 million from RM558.21 million previously, the property developer said in a Bursa Malaysia filing today. The group's balance sheet remains healthy with cash and bank balances as well as investment in short-term funds of approximately RM790.6 million as at March 31, 2025. 'In 1Q 2025, the property development segment recorded an operating profit of RM103.4 million and revenue of RM521 million, which were 16.3 per cent and 16.2 per cent higher than the operating profit and revenue as compared to the preceding year's corresponding quarter, respectively. 'The higher revenue and operating profit were mainly driven by progressive revenue recognition from ongoing construction progress,' it said. The key projects contributing to earnings include M Vertica in Cheras, M Arisa in Sentul, Meridin East, M Tiara and M Minori in Johor Bahru, M Astra in Setapak, M Senyum in Salak Tinggi, M Panora in Rawang and M Nova in Kepong. 'Other projects which also contributed include Southville City in Bangi, Ferringhi Residence in Penang, M Zenya in Kepong, M Terra in Puchong and M Azura in Setapak,' it said. The group achieved RM1.01 billion in property sales for the five months of 2025. Meanwhile, its manufacturing segment reported revenue of RM113 million and an operating loss of RM1.3 million in 1Q 2025, compared to a revenue of RM98.5 million and an operating profit of RM0.7 million (including one-off insurance recoveries income of RM2.7 million) in the previous year's corresponding quarter.
The Star
3 days ago
- Business
- The Star
Mah Sing starts FY25 strong with 10% earnings growth
PETALING JAYA: Mah Sing Group Bhd kicked off the financial year 2025 (FY25) with a 10% on-year rise in earnings to RM66.04mil or earnings per share (EPS) of 2.58 sen for the first quarter ended March 31, 2025 (1Q25). Revenue for the period rose 16% to RM649.69mil driven by progressive revenue recognition from ongoing construction projects. In a filing with Bursa Malaysia, the property developer noted its property development segment posted higher revenue and operating profits of RM521mil and RM103.4mil respectively in the quarter. 'The group achieved RM1.01bil property sales for the five months of 2025,' Mah Sing stated. Its manufacturing segment reported a revenue of RM113mil and an operating loss of RM1.3mil in 1Q25. This was in comparison to RM98.5mil revenue and operating profit of RM0.7mil recorded in the same quarter in the previous year. Meanwhile, Mah Sing's revenue from its investment holding and other segments amounted to RM99.29mil in the period comprising mainly interest income from the deposit of funds, revenue from trading of building materials and hotel operation. Looking ahead, Mah Sing said the new property sales of RM1.01bil in the first five months shows the group is on track to meet its full-year sales target of a minimum RM2.65bil in FY25. The groups' latest acquisition of its first new land in Sentul, Kuala Lumpur, which has a gross development value of RM283mil and is expected to fuel Mah Sing future growth. 'The group will continue to identify strategic land opportunities for potential developments with efficient turnaround time,' it added. Separately Mah Sing stated it is now welcoming new investor interest for its 17.55-acre freehold land in Southville City, Dengkil, following the expiry of the previous collaboration agreement with Bridge Data Centres Malaysia V Sdn Bhd (BDC). This came about after Mah Sing was unable to get a clear commitment from BDC to proceed with the execution of a definitive agreement. On May 30, 2024, the two parties had signed a collaboration agreement for the development of a data centre there. The site — backed by ready infrastructure for up to 100MW power capacity — remains a strategic location for data centre development. Mah Sing added it is open to exploring joint ventures, build-and-lease (BTL) models or outright land sale. Collaboration for a second data centre at a 35.7-acre site for a larger 200MW data centre remains under discussion, it said. Mah Sing also remains open to engagement with other potential data centre operators.
New Straits Times
3 days ago
- Business
- New Straits Times
Mah Sing's Q1 earnings up 10pct to RM66.03mil
KUALA LUMPUR: Mah Sing Group Bhd recorded a 9.9 per cent rise in net profit for the first quarter ended March 31, 2025 (1Q25) to RM66.03 million from RM60.04 million in the same quarter last year, supported by stronger gross profit. The property developer reported a 16.4 per cent increase in revenue to RM649.7 million from RM558.2 million. This was mainly driven by progressive revenue recognition from ongoing construction activities. It achieved RM1.01 billion in new property sales during the first five months of 2025, slightly surpassing the RM992 million recorded in the same period last year. Mah Sing said it is reinforcing its recurring income strategy by transforming selected commercial properties into lively lifestyle and placemaking hubs. The company said upgrades to Ramada by Wyndham Meridin Johor Bahru, along with its new project Zenya in Kepong, aim to deliver consistent rental income while building an integrated ecosystem that meets the changing needs of the community. "The group is also exploring a comprehensive healthcare and wellness hub in its existing commercial asset, Icon City 2 in Petaling Jaya, envisioned as a one-stop centre for medical, wellness and F&B services, serving people of all ages and promoting holistic wellbeing," it added. Mah Sing said it is securing long-term growth in recurring income by strategically venturing into the digital infrastructure sector. The company highlighted that data centres like Mah Sing DC Hub\@Southville City have the potential to provide stable, long-term cash flow, driven by strong demand from hyperscalers and artificial intelligence (AI) operators. "Leveraging its developer expertise to secure critical infrastructure and strategic land, Mah Sing is well-positioned to become a key partner in this high-growth sector," the group said.
The Star
09-05-2025
- Business
- The Star
Property market steady especially in Johor
MIDF Research said the outlook for the property market in Malaysia should remain stable especially in Johor mainly due the Johor-Singapore Special Economic Zone and Johor Baru–Singapore Rapid Transit System. PETALING JAYA: The property market outlook remains stable despite the spillover effects from the global trade war unleashed by US president Donald Trump impacting investor sentiment, says MIDF Research. It said the overall higher loan applications in the first quarter of 2025 (1Q25) signalled that property buying interest remained healthy on the back of Bank Negara data showing total loan applications increasing 15.3% month-on-month (m-o-m) to RM54.6bil in March following a 6.1% rise m-o-m in February. Loan applications for 1Q25 grew 2.4% year-on-year (y-o-y) to RM146.6bil. 'The stronger loan applications in March are in line with our expectations of a recovery following weaker figures in January which are believed to have been dragged by school holidays and the Chinese New Year public holidays,' it said. It expected the loan-approved ratio to normalise amid new property launches despite the marginally lower 1Q25 approvals of RM59.8bil, which were down 0.6% y-o-y. It noted that the KL Property Index was volatile in April following the announcement of the Liberation Day tariffs by Trump on April 2, with the index declining 3.2% for the month against the local bourse's benchmark KLCI's 1.8% gain. The less optimistic economic outlook had affected sentiment on big ticket items including property purchases. 'Nevertheless, the outlook for the property market in Malaysia should remain stable especially in Johor mainly due the Johor-Singapore Special Economic Zone and Johor Baru–Singapore Rapid Transit System,' the research house said, noting that the number of property developers who have increased their exposures to the state's property market. The research house, which has maintained a 'positive' stance on property stocks, expected better earnings for property developers in the upcoming 1Q25 financial results season supported by decent sales last year. Its top stock picks with 'buy' calls among developers include Mah Sing Group Bhd with a target price (TP) of RM1.49, Eco World Development Group Bhd (TP: RM2.05) and UOA Development Bhd (TP: RM1.93).
