Mah Sing Group reports higher pre-tax profit for 2015

Mah Sing Group reports higher pre-tax profit for 2015

KUALA LUMPUR, Feb 26 — Mah Sing Group Bhd’s pre-tax profit for the financial year ended Dec 31, 2015 increased to RM503.69 million from RM471.63 million recorded a year before.

Revenue rose to RM3.11 billion from RM2.90 billion previously, the company said in a statement Friday.

The company attributed the improvement in results to the higher work progress and sales from the group’s ongoing development projects including M City and Southville City.

Moving forward, it said the group would continue to accelerate work progress on projects with good take up and which would unlock the liquidity provided by the unbilled sales of RM4.75 billion.

“Furthermore, 2016 will see the expected final stage billings on delivery of vacant possession of properties amounting to approximately RM651 million,” it added.

— BERNAMA

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