Mah Sing Group Berhad has achieved RM1.15billion sales, or close to 60% of its 2011 sales target for 2011 in just 5 and a half months.

Mah Sing’s group managing director Tan Sri Leong Hoy Kum said, “We have surpassed our shareholders’ expectations in 2010 and are working hard on achieving another good year in 2011."

The group also reported a bumper first quarter for 2011, recording revenue and net profit of approximately RM311.8 million and RM41.2 million respectively.

Macquarie Equities Research forecasted Mah Sing’s earnings to grow at a compounded annual growth rate (CAGR) of 54% over financial years 2011 to 2013.

Over the past 5 years, Mah Sing has tripled its number of projects, paid up share capital and shareholders’ funds whilst providing continuous value enhancement to shareholders.

The group has expanded more than 10 folds since 2005; from a market capitalization of RM189million in 2005, its current market capitalization stands at RM2.2billion.

The group aims to achieve a market capitalization of RM5 billion within the next 5 years, Leong told reporters after Mah Sing's Annual General Meeting, Thursday.