30-05-2025
- 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.
