KUALA LUMPUR, 1 June: Group Managing Director of Mah Sing Group Berhad (Mah Sing), Tan Sri Dato’ Sri Leong Hoy Kum was named Entrepreneur of the Year at the ASEAN Business Awards Malaysia 2016. The awards was organized by ASEAN Business Advisory Council (ASEAN-BAC).
Presenting the Awards was the Prime Minister of Malaysia, YAB Dato’ Sri Mohd Najib bin Tun Hj Abdul Razak, witnessed by Minister of International Trade and Industry Malaysia, YB Dato’ Sri Mustapa Mohamed.
Aptly themed Captains of the Industry, ASEAN Business Awards Malaysia recognizes industry leaders in delivering values which are sustainable for their respective companies as well as the country.
Entrepreneur of the Year 2016
Tan Sri Dato’ Sri Leong Hoy Kum was awarded Entrepreneur of the Year as an industry captain who have made significant and outstanding contributions in growing Mah Sing Group into a dynamic player at the forefront of the industry.
In 1965, Mah Sing Group was incorporated as a plastic trading firm. Tan Sri Dato’ Sri Leong founded the plastic manufacturing division in 1986 and rapidly grew the business with proprietary and OEM products for the automotive and electrical & electronic industries. Mah Sing Group was listed on the Kuala Lumpur Stock Exchange in 1992 as Malaysia’s No. 1 plastic manufacturer. Mah Sing Plastics has an affiliated company named P.T. Mah Sing Indonesia which was established in 1995.
Tan Sri Dato’ Sri Leong ventured into property industry in 1994 with the Group’s maiden property project in Ulu Yam, Selangor. To date, Mah Sing has 46 projects spread throughout Malaysia’s property hotspots, namely the Klang Valley and Greater Kuala Lumpur, Johor Bahru (Iskandar Malaysia), Penang island and Kota Kinabalu, Sabah. The Company has built over 26,000 homes, with an additional 35 projects on-going.
As at 31 March 2016, the Group had a cash pile of approximately RM1.1billion and net gearing at 0.09 times. The Group’s RM32.26billion remaining gross development value (GDV) and unbilled sales is expected to support 8 to 9 years of revenue growth.
Mah Sing is positioned to support the Nation’s initiatives in building more acquirable homes with 89% of the Group’s planned residential launches in 2016 will be priced below RM1million, with 68% priced below RM700,000 and 50% priced below RM500,000. Among the planned residential launches include Cerrado serviced apartments in Southville @ KL South, new blocks in D’sara Sentral, Sungai Buloh, Lakeville Residence in Taman Wahyu, Meridin East township in Pasir Gudang, Johor Bahru, as well as Ferringhi Residence 2 in Penang island.
Mah Sing’s affordable housing projects includes Rumah Selangorku at M Residence 2@Rawang, the Group’s first project under Rumah Selangorku affordable housing scheme administered by the Selangor Housing and Property Board (LPHS). The project consists of two blocks, featuring 488 units with built-ups from 850 sq ft, priced at RM170,000, offering 3 bedrooms with 2 parking bays.
Image Caption: Team Mah Sing celebrating Tan Sri Leong’s win at the Awards presentation ceremony.