Kuala Lumpur, 2016 – Mah Sing Group Berhad (Mah Sing) celebrates another accomplishment as it wins the prestigious 2016 Frost & Sullivan Excellence in Competitive Strategy, Innovation and Leadership, in Property Development Award, at an awards banquet held at the Grand Hyatt yesterday.
The award recognises companies that are industry leaders, delivering best practices in growth, innovation, and leadership. Mah Sing was selected as a winner for this award from more than 500 public listed companies and more unlisted ones in the property industry. This achievement further build up the Group’s position as one of the top developers in the country.
Hazmi Yusof, Senior Vice President, Asia Pacific Frost & Sullivan said that Mah Sing’s strategy of ensuring a wider market coverage focusing on the high-growth corridors of Malaysia and a diverse portfolio of more than 35 ongoing projects have provided long-term benefits to the company. With unique value additions, such as offering dual key units as part of its affordable residential project, and a comprehensive service proposition, Mah Sing has recorded a strong revenue growth of 7% between 2014 and 2015.
He said, “Mah Sing’s capability to deliver excellence is worthy of the Competitive Strategy, Innovation and Leadership recognition as it is never an easy task, made even more difficult in today’s competitive intensity, customer volatility, and economic uncertainty. Within this context, their receipt of this award signifies an even greater accomplishment.”
“What sets Mah Sing apart from other developers is our product offerings and the ability to cater to the diverse buyers and market segments. We strongly believe in the co-existence and harmony of their buyers’ needs, the environment around the property and the community surrounding it, and this serves as a competitive strategy for us to stand out in the market,” said Tan Sri Dato’ Sri Leong Hoy Kum, Group Managing Director of Mah Sing Group.
He said, “We have 31,000 satisfied customers in our M Club Loyalty Programme which provides customer care and post delivery services. We believe that this innovative approach will be able to provide added value to our customers as well as strengthening their confidence and continuous support.”
Ng Chai Yong, Chief Executive Officer of Mah Sing Group expressed, “We are honoured to accept this award from Frost & Sullivan. Our commitment to be a market driven developer guides us in everything that we do, and we strive to live up to our brand’s promise to build sustainable projects and a well-managed company as a sincere appreciation to our loyal customers, business partners and stakeholders for your support and faith in Mah Sing.”
The Group appreciates that the results from great teamwork of its employees play a big part to support the company in achieving greater heights. Therefore, the company hadprovided more than 27,000 training hours for its employees in 2015. Focusing on having the right leadership within the organisation, a talent development programme, the L.E.A.D. Project (“Leadership Excellence, Advancement and Development”), was launched in early 2015 to develop and groom high potential individuals into successors of key roles in the Group through a series of all-rounded intensive courses.
Mah Sing’s prudent financial management has seen the Group accumulate an outstanding balance sheet, with a cash pile of approximately RM1.4 billion, the highest in the Group’s history. The Group recorded a strong five-year (2010-2015) revenue compound annual growth rate (CAGR) of 23% and profit after tax (PAT) CAGR of 27% as well as a net gearing ratio of 0.04 times to strengthen its liquidity profile further.
The Group is fully committed to deliver products that exceed customers’ requirements and is constantly working towards offering products in line with market demands. Understanding that the current market trend is looking at affordable homes, 50% of the Group’s 2016 planned residential launches priced are below RM500,000 and 89% of planned residential launches are priced below RM1million, with 68% priced below RM700,000.
* Caption: Ng Chai Yong, CEO of Mah Sing Group(with trophy) and Ms Cindy Gan, Vice President of Frost & Sullivan on his left, together with the team from Mah Sing