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Posted Date: May 29, 2015 12:00 AM, By:
Mah Sing 2015 Q1 Results - Analysts' Reports


In addition to the Q1 Results announcement made by Mah Sing, several research houses have issued positive reports on the property developer.

CIMB stated:

- Mah Sing’s 1Q results were broadly in line with expectations as net profit made up 24% of our full-year forecast and 25% of consensus estimates. Mah Sing sold RM561m worth of properties in the quarter, 16% of its minimum full-year target of RM3.43bn.
- We are not concerned as we expect future quarters to be stronger and make up for any shortfall. We retain our EPS forecasts, Add recommendation and target basis of 10% discount to RNAV.
- Mah Sing remains one of our sector picks, with strong earnings growth, new sales and landbanking as potential re-rating catalysts.

Whilst KAF said that:

- Mah Sing started 1Q15 well with net profit improving 17% qoq and 18% yoy, constituting 24% of our estimates.
- The group garnered a take-up rate of 88% for its launches in 1Q15, largely focused on the Klang Valley, which is commendable given the soft property market.
- Management remains confident to achieve its full year sales target of RM3.43bn. Valuations are attractive at 11.8x FY15F PE (versus sector at 13.8x) and 1.3x PB, supported by ROE of 15.5% and yield of 4.3%. Maintain Buy.

Meanwhile, Hong Leong Investment Bank stated:

- MSGB’s 1QFY14 PATAMI of RM98.9m came in within expectations, accounted for 25.4% and 14.6% of ours and consensus’ full year forecast, respectively
- Maintain buy

Last but not least, TA Securities said:

- We like Mah Sing for its proven track record of consistency earnings growth.
- The company is now in net cash position post the completion of rights issue in Feb.
- After accounting for the cash  commitment allocated for the three land deals announced in 2014, the group has high gearing headroom of up to another RM1bn new borrowings for future landbanking.
- We reiterate our Buy recommendation with a total upside of 22%.

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Posted Date: May 28, 2015 12:00 AM, By:
Good 2015 Start for Mah Sing

Continued Strong Growth in Revenue and Net Profit

Mah Sing Group Berhad (Mah Sing) today announced its results for the first quarter ended 31 March 2015, posting a 22.1% increase in revenue to approximately RM784.1million and a 17% improvement in profit before tax to approximately RM130.4million versus the same quarter last year.

Group Achieves Resilient Property Sales of Approximately RM761million Year-To-Date 22 April 2015 - Well On Track to Hit Sales Target Of At Least RM3.43billion For 2015

Year-to-date 22 April 2015, the Group achieved approximately RM761million in property sales despite the shorter working Q1 2015 due to the festive Lunar New Year period.

The achievement is testament of the Group’s strategy in effectively driving the sales momentum for its diversified range of products through affordable homes targeting buyers mainly in the Klang Valley. For 2015, 84% of Mah Sing’s planned residential launches are priced below RM1million, with 71% priced below RM700,000 and 44% priced below RM500,000.

The Group will also continue to focus on the demand from Malaysians aged 39 years and below, which form the target market segment of Mah Sing. This relatively young segment of Malaysians represents approximately 70% of the current 30 million population which will create new household formations and drive demand for new homes.

This is in line with the market demand for the right products at the right locations, such as the Group’s mid-range mass market products like Savanna Executive Suites@Southville City (priced from RM433,000), D’sara Sentral Serviced Residences, Sungai Buloh (priced from RM597,000) and Lakeville Residence, Taman Wahyu (priced from RM600,000).

Barring unforeseen circumstances, the Group is confident of achieving its sales target of at least RM3.43billion and believes that demand for the right properties in the right locations will continue to be strong. Its upcoming Festival Lakecity project in Puchong for example, is primed for good reception come its preview of Executive Suites slated for 2H15 given its strategic location in the Central Business District of Puchong.

Greater KL & Klang Valley are expected to contribute 67% to sales this year, with Johor expected to contribute 20% followed by Penang at 11% and Sabah at 2% sales.

Positive Contribution from Property Development Activities

For the period ended 31 March 2015, revenue from property development was approximately at RM706.7million, marking a near to 24.1% improvement compared to RM569.4million achieved in the corresponding quarter last year. Operating profit also increased 18.2% from approximately RM105.2 million to approximately RM124.4 million.

The improvement in results for the period ended 31 March 2015 compared to the same quarter last year were attributable to the higher work progress and sales from the Group's ongoing development projects such as M City in Jalan Ampang, Icon City in Petaling Jaya, M Residence and M Residence 2@Rawang, Southville City@KL South and Southbay City in Penang. Other projects that contributed to the Group's results included:

Greater KL and Klang Valley

Garden Residence, Clover@Garden Residence and Garden Plaza in Cyberjaya, Kinrara Residence in Puchong, Icon Residence in Mont' Kiara, Lakeville Residence in Taman Wahyu, D'sara Sentral in Sungai Buloh, Aman Perdana in Meru - Shah Alam, One Legenda in Cheras, M Suites in Jalan Ampang, Star Avenue@ D’sara (commercial project)

Penang

Ferringhi Residence, Batu Ferringhi and Legenda @ Southbay

Iskandar, Johor Bahru

Mah Sing i-Parc @ Tanjung Pelepas, Austin Perdana, Sri Pulai Perdana 2, Sierra Perdana and The Meridin @ Medini

Kota Kinabalu

Sutera Avenue

Group Geared For Growth Opportunities with Healthy Balance Sheet, Net Cash Position and Strong Unbilled Sales of RM5.12billion

The Group’s strong cash and bank balances amounting to approximately RM1.59billion as at 31 March 2015 has placed Mah Sing in a strong position with a healthy balance sheet to continue with its growth and expansion plans. The Group’s net cash position as at 31 March 2015 is a further indication of Mah Sing’s ample liquidity.

This is further supported by the Group’s unbilled sales of approximately RM5.12billion combined with a remaining gross development value (GDV) of RM43.59billion as at 31 March 2015, which is expected to sustain revenue growth for the next 8 to 10 years. This also places the Group in a good position to capitalize on new landbanking opportunities.

Property Industry Outlook – Buying Momentum to Pick Up In 2H15

Malaysia’s property market is experiencing a softening of demand as buyers are still adjusting to the various cooling measures and the implementation of the Goods and Services Tax (GST). However, underpinned by location and product mix that is in tune with market demand, the Group has intensified its market efforts and strategies to pursue product differentiation by offering a diversified range of attractively priced properties at various growth locations. Approximately 75% of the Group’s remaining landbanks are in the Klang Valley and Greater Kuala Lumpur, and 84% of planned residential launches are priced below RM1million as earlier mentioned.

With the implementation of GST, the Group expects that consumers are currently in a temporary adjustment period of about 3 – 6 months, and not a prolonged adjustment period. The Group anticipates buying momentum to pick up by 2H15, given the strong fundamentals driving property growth such as strong household formations due to a young population (>200,000 registered marriages a year), urban migration to cities, supply-demand gap (only 70,000-90,000 new completed homes compared to >200,000 demand from new registered marriages every year), current stable employment conditions of less than 3% unemployment rate and healthy GDP and household income growth. The ongoing and proposed infrastructure and public transportation investments also helped to promote interest in properties in certain new growth corridors.

Given its diversified products in the strategic property hotspots of Greater KL and Klang Valley, Penang, Johor Bahru and Kota Kinabalu to cater to the increasing demand for properties, the Group is confident of a satisfactory performance for the year ahead.

Bonus Issue and Proposed Dividend Payout

The entitlement date for the 1 for 4 bonus issue has been announced and will fall on 10 June 2015, and the bonus issue will be completed on 11 June 2015 upon the listing and quotation of the bonus shares on Bursa Malaysia.

The proposed 6.5sen dividend per ordinary share of RM0.50 each in respect of the financial year ended 31 December 2014, once approved at the forthcoming Annual General Meeting will be paid on 17 September 2015, translating to an attractive payout ratio of approximately 44%.


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Posted Date: May 20, 2015 12:00 AM, By:
Mah Sing’s Largest Township To-Date of Meridin East Opens Its City Sales Gallery

JOHOR BAHRU - Mah Sing Group Berhad (Mah Sing) has opened the doors to its new Meridin East City Sales Gallery, where the Group showcased its largest township to-date to the public.

Located in Sierra Perdana (one of Mah Sing’s developments in Johor Bahru), guests at the new sales gallery were treated to an exclusive insight on the township concept by the township planner, as well as an introduction to the product details.

The event also saw the opening of registration for The Willows, which comprise double-storey link homes measuring 18’ x 65’ sq ft in Meridin East. The Willows is the first component to be previewed in the first precinct fondly named CasaEden in Meridin East.

At the opening ceremony, guests were treated to a host of activities including a live band performance; lion dance performance and a lucky draw session where exciting prizes were given away. In conjunction with Parents’ Day celebration, Mah Sing organised a Wish-A-Gift for your Fabulous Parents & Family Portrait Competition in celebration of those who attended the event with their family members.


Meridin East

Meridin East is Mah Sing’s fifth township in Johor and its largest township to-date, where it intends to tap into the Group’s expertise in township masterplaning. The freehold land has an estimated Gross Development Value (GDV) of RM5billion and measures approximately 1,313 acres. The township is strategically situated, fronting Jalan Kong Kong and Jalan Kota Masai, and easily accessed using the Senai-Desaru Highway, where the land is just 1km from the Cahaya Baru interchange.

Proposed infrastructure upgrades include the road widening of Jalan Kong Kong, the Johor-Singapore connection such as Rapid Transit System (RTS) and a third bridge from Desaru to Changi. Such upgrades will prompt further growth of the area, especially those related to ecotourism and agriculture which will benefit Meridin East.

Meridin East is designed with an emphasis on the sense of belonging, whereby the Group aims to create an emotion towards 'a place to call home'. The design elements introduced in Meridin East will form an exciting community that will serve as a melting pot to kindle the memories of the residents as grow from generation to generation.

The township will feature a tapestry of lakes and river banks folded in a topography of greens which is a major cooling effect. This landscape feature will create an ideal corridor for a neighbourhood recreation area where both flora and fauna will also flourish. The streetscape such as pavements, intersections, signage and landscape will be designed to establishing a unique identity for the township. Collector roads within the township will be designed as wide boulevards with a central median, while residential streets are minimum 50 meters wide, designed as cul-de-sacs around the neighbourhood.

For further information, Please call 07-3874888 or 07-3554888 or register at www.meridin-east.com.my for more information.

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Posted Date: May 18, 2015 12:00 AM, By:
Groundbreaking Ceremony of Rumah Selangorku at Mah Sing’s M Residence 2, Rawang

RAWANG – Mah Sing Group Berhad (Mah Sing) held a groundbreaking ceremony for its Rumah Selangorku project at M Residence 2@Rawang, the Group’s inaugural project under the Rumah Selangorku affordable housing scheme programme. 

Held on-site at the 7.86 acres of land planned for the development, the ceremony was graced by Y.A.B Tuan Mohamed Azmin Bin Ali, Dato’ Menteri Besar Selangor. In conjunction with the ceremony, Mah Sing also opened up counters to assist members of the public to register their interest for Rumah Selangorku.  

Speaking at the groundbreaking ceremony, Y.A.B Tuan Mohamed Azmin Bin Ali said, “It is heartening to see corporations such as Mah Sing putting much thought to support our initiative to provide affordable housing for the people of Selangor. It is our aim to provide the rakyat with a home that is not only ideally located and comfortable, but which is also a valuable asset for deserving families.”

“We are committed to making the Rumah Selangorku programme a successful endeavour by working together with various corporations such as Mah Sing to build quality and comfortable homes at affordable prices to meet the high demand of low and middle income buyers working in urban areas. We commend Mah Sing on taking up the government’s call to plan for more than 1,000 units of Rumah Selangorku at their Rawang projects,” he further added.

Rumah Selangorku at M Residence 2@Rawang

Mah Sing is committed to continuously support the Nation’s initiative in building more acquirable homes for the rakyat. Rumah Selangorku at M Residence 2 is Mah Sing’s inaugural project under the Rumah Selangorku affordable housing scheme that is administered by the Selangor Housing and Property Board (LPHS).  

Rumah Selangorku 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. These affordable high-rise residential blocks will be equipped with amenities and facilities within a gated and guarded community. The development will create a neighbouring recreational space complete with a communal playground, Surau, as well as a multipurpose hall for the residents. The project is targeted for completion by 2018.  

Jen. Tan Sri Yaacob Bin Mat Zain (R), Chairman of Mah Sing Group said, “We are proud to be given the opportunity to be part of the Rumah Selangorku affordable housing scheme. As a market-driven developer, Mah Sing places great emphasis on the needs of people. Therefore, our group’s focus this year is to develop mass-market properties where 84% of our targeted residential properties launches will be priced below RM1million, in line with the government’s call for more affordable housing.” 

Moving forward, the Group has also allotted parcels of land within both M Residence 1 and M Residence 3 to build more homes under the Rumah Selangorku programme. The Group will also explore opportunities to build more acquirable homes at other suitable project sites. Although building acquirable homes, Mah Sing also strives to provide equal lifestyle amenities for its residents.

“As a premier lifestyle developer, we no longer just build houses but we strive to build communities that offer comfort and convenience. Hence, careful thought will also be given to incorporate safety features, environmental-friendly features and facilities to the Rumah Selangorku projects. We believe that quality does not depend on price range; we want our customers to be proud of their homes,” said Jen. Tan Sri Yaacob Bin Mat Zain (R).

M Residence 2@Rawang

Mah Sing’s M Residence 2@Rawang is a gated and guarded township development that aspires to create homes for those who are looking for an affordable alternative in a well-connected location of new township schemes offering a lifestyle concept. It is situated amidst healthy lifestyle features such as jogging tracks, recreational activities around the lotus lake and clubhouse facilities.

Rawang is well-connected by road and rail and M Residence 2@Rawang stands to benefit from the added access to the LATAR expressway when the extension from Jalan Tasik Puteri is expected to complete by end 2015. This will bring travelling time to KL in about 20 minutes, and is an additional access from the main thoroughfare of Jalan Batu Arang to the townships. KTM Rawang is the terminal station of KTM Komuter’s Rawang-Seremban route, now extended till Tanjung Malim. Rawang is also served by existing public transport of buses that ply the Kuala Lumpur-Rawang route such as RapidKL, Metrobus and SJ Buses. 

Registration of Interest and Application for Rumah Selangorku at M Residence 2@Rawang

To qualify for the scheme, applicants have to fulfil the following criteria:
1. Malaysian citizens above 18 years old
2. Have a gross household income between RM3,001 and RM8,000 per month
3. Both husband and/or wife does not own a property in Selangor or singles with family obligations
4. Purchase is for own use to stay and not to rent 
5. The property can only be re-sold after five years

To apply, applicants first need to register with the Selangor Housing and Property Board (Lembaga Perumahan Dan Hartanah Selangor) by logging on to the official website at lphs.selangor.gov.my and filling up the form and all required details and submit. Applications are valid for three years from the date the projects are offered.

Members of the public can also visit the project site and enquire about the development. For applications to own a unit of Rumah Selangorku, members of the public can visit the M Residence Sales Gallery or log on to Mah Sing’s official website for assistance. 

M Residence Sales Gallery at Rawang is open daily from 10am to 6pm.  For more information, please visit http://www.mahsing.com.my/ 


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Posted Date: May 11, 2015 12:00 AM, By:
Mah Sing’s Twin Win at the Asia Pacific Property Awards

KUALA LUMPUR - Mah Sing Group Berhad (Mah Sing) celebrates a double win at the Asia Pacific Property Awards 2015-2016 for two of the Group’s most outstanding projects in two separate categories.

The Group won:
1. Five-Star for Leisure Development – The Loft@Southbay City
2. Highly Commended for Commercial High-Rise Architecture for Malaysia - D’Sara Sentral

The Loft@Southbay City
The Loft @ Southbay City is part of the integrated township of Southbay City, the development measures 3.71 acres and has a gross development value of RM290 million.

Ideally located on the Penang seafront, it is home to 156 luxurious, serviced suites housed in two tower blocks. With only 78 units in each tower, this equates to only three per floor serviced by two private lifts, ensuring each as a panoramic view of the waterfront with breathtaking vistas all around.

The Loft is strategically located in Bayan Lepas, one of Penang’s most sought-after vicinities, which is within 1km from the Second Penang Bridge and 7km from the Penang International Airport. Georgetown and the famous Penang Bridge are located within a 5- to 10-minute drive from the development.

The facilities in The Loft are located on 2.5-acre deck on level 15, which includes a sky gym and a reading lounge overlooking the beautiful views of Penang. The lounge and the gym on the 15th floor would be connected via the sky bridge. The swimming pool on the ground floor, named The Cascade, would consist of three-tiers which cascades set amidst lush greenery. There would also be a pool with bar seating, a children’s pool, playground, and a multi-purpose room. The premises would also be gated and guarded, with CCTV surveillance, card access security system, and 24-hour patrol.

The freehold luxury residential suites have a generous area between 1,378 sq ft to 1,680 sq ft with six layout types of 3- and 3+1-bedroom suites to choose from with limited units on the recreational podium sporting their own private garden, with the highest floor highest floor consisting of a penthouse unit.


D’Sara Sentral, Sungai Buloh
Located in the vibrant hub of Sungai Buloh, D’Sara Sentral is an integrated development with  gross development value (GDV) of RM938million. D’sara Sentral comprises of lifestyle retail shops; one block of SOVO (Smart Office Versatile Office) and four blocks of Serviced Residences.

Mah Sing’s D’sara Sentral Serviced Residences comprises of four blocks, with the first 2 block offering 494 units with built-up starting from 809 sq ft priced from RM538,000 open for sale. Take-up has been very encouraging with first tower over 80% sold and second tower at approximately 60% sold in 3 weeks’ time since its official launch end of March. Mah Sing will open its final two blocks of Serviced Residences for registration of interest, featuring 444 units with built-up starting from 752 sq ft priced from RM600,000. 

Currently, the project has seen a strong take-up rate of approximately 80% for the lifestyle retail shops that will complement the serviced residences; while a total of 322 units of SOVO with built-ups starting from 504 sq ft priced from RM388,000 have seen more than 70% sold.



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Posted Date: May 11, 2015 12:00 AM, By:
Mah Sing Offering Registrants of Its Rumah Selangorku a “One-Day Only” Absorption Of Spa Legal Fees

RAWANG – Mah Sing Group Berhad (Mah Sing)’s inaugural Rumah Selangorku project is set to entice the public with an attractive proposition at its upcoming Groundbreaking Ceremony taking place this Friday, 15th May 2015 at M Residence 2@Rawang at 10:30am.

To be officiated by Y.A.B Tuan Mohamed Azmin Bin Ali, Dato’ Menteri Besar Selangor, members of the public can look forward to registering their interest for Rumah Selangorku units in the strategically located and booming township of Rawang under the affordable housing scheme programme.

Members of the public are encouraged to swiftly register their interest as the first 100 eligible registrants of Mah Sing’s Rumah Selangorku will have their Sales and Purchase Agreement (SPA) legal fees absorbed – a limited one-day only offer on the 15th May 2015.

Mah Sing’s Rumah Selangorku at M Residence@Rawang will feature a modern façade of apartments with built-ups from 850 sq ft priced at RM170,000, offering 3 bedrooms with 2 parking bays.

These affordable high-rise residential blocks will be equipped with amenities and facilities within a gated and guarded community. The development will create a neighbouring recreational space complete with a communal playground, Surau, as well as a multipurpose hall for the residents. The project is targeted for completion by 2018.

Rumah Selangorku Groundbreaking Ceremony at M Residence@Rawang Event Details:

Date: Friday, 15th May 2015
Time: 10:30AM
Venue: M Residence2@Rawang Jalan Tasik Puteri, Rawang 48000, Selangor

For further details, members of the public may contact 03- 6092 8188 or 019-337 8758.

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Posted Date: April 27, 2015 12:00 AM, By:
Mah Sing’s D’sara Sentral Hosts Property Investment and Mrt Talk

Selangor – Premier lifestyle developer, Mah Sing Group Berhad (Mah Sing) recently held a property investment and MRT talk at the newly launched D’sara Sentral Show Gallery in Star Avenue. The objective of this talk is to share with the public the progress of MRT Sungai Buloh-Kajang Line, property investment tips, insight on investing in a property near MRT station and the market outlook post-Government Service Tax (GST).

One of the invited speakers, Mahmood Abdul Razak, Director of Strategic Communications and Public Relations for Mass Rapid Transit Corporation (MRT Corp), presented an overview of the MRT Sungai Buloh-Kajang Line, including the development of the MRT and how will MRT affect the property industry. Public was also provided with an update on the construction of the upcoming MRT Line 2.

“We are pleased with the progress achieved thus far. Phase one of the MRT Sungai Buloh-Kajang Line from Sungai Buloh to Semantan is targeted for operation by end of 2016, while phase two from Semantan to Kajang will become operational by 2017. As we move our focus towards the Systems portion of construction, we will ensure that the good progress continues,” said Mahmood Abdul Razak.

The talk continued with the President of Malaysian Institute of Estate Agents (MIEA), Siva Shanker discussing on the techniques on property investing and why one should invest in properties near urban public transportation system. He then shared his insight on how will GST affect the property market.

Siva Shanker pointed that, “Better connectivity will definitely result in property appreciation at least by 15% especially in the vicinity of MRT stations. This has been proven in countries like Singapore, Hong Kong and Taiwan. Say for example, the MRT Sungai Buloh-Kajang Line upon completion will allow trains to serve a corridor with an estimated population of 1.2 million people; this is believed to spur new property developments such as D’sara Sentral, Rubber Research Institute development as well as KL International Financial District in which the developments are along the MRT route.”

The MRT Sungai Buloh-Kajang Line
The 51km MRT Sungai Buloh-Kajang Line is the first Klang Valley MRT line to be approved for implementation, the line starts from Sungai Buloh runs through the city centre of Kuala Lumpur, and ends in Kajang. There will be 31 stations of which 7 will be underground.

D’Sara Sentral, Sungai Buloh
Located in the vibrant hub of Sungai Buloh, the integrated development has a gross development value (GDV) of RM938million. D’sara Sentral comprises of lifestyle retail shops; one block of SOVO (Smart Office Versatile Office) and four blocks of Serviced Residences.

“At Mah Sing’s D’Sara Sentral, we aim to create convenience for our residents. The development is located across the Kampung Baru Sungai Buloh MRT Station, the second station on the Sungai Buloh-Kajang MRT line with a covered walkway linking the development to the MRT station. This will bring travelling times to KL in about 30 minutes,” shared Ng Chai Yong, Executive Director & Chief Executive Officer for Mah Sing during the press conference after the talks.

He added, “We want to introduce people a place where they can live, work, play and relax. Our project will have commercial components such as SOVOs and retail shops to complement the residential component. Similar to all other Mah Sing’s development, D’Sara Sentral offers exciting facilities podium. Residents can look forward to a swimming pool, Jacuzzi, fully-equipped gym, game room and a children’s playroom. There will also be a thematic garden to create the tranquil feel of nature within the development.”

Mah Sing’s D’sara Sentral Serviced Residences comprises of four blocks, with the first 2 block offering 494 units with built-up starting from 809 sq ft priced from RM538,000 open for sale. Take-up has been very encouraging with first tower over 80% sold and second tower at approximately 60% sold in 3 weeks’ time since its official launch end of March. Mah Sing will open its final two blocks of Serviced Residences for registration of interest, featuring 444 units with built-up starting from 752 sq ft priced from RM600,000.

Currently, the project has seen a strong take-up rate of approximately 80% for the lifestyle retail shops that will complement the serviced residences; while a total of 322 units of SOVO with built-ups starting from 504 sq ft priced from RM388,000 have seen more than 70% sold.

For more information and updates, visit www.dsara-sentral.com.my or call +6016-306 6000/ 603 9221 6888 to discover more about Mah Sing’s D’Sara Sentral. For further information on Mah Sing Group Berhad, visit www.mahsing.com.my

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Posted Date: April 23, 2015 12:00 AM, By:
Mah Sing Group Confident of Achieving Rm3.43billion Sales Target in 2015 through Affordable Homes

KUALA LUMPUR: Premier lifestyle developer Mah Sing Group Berhad (Mah Sing) today presented on its Group strategy, financial updates, key projects updates and the property industry’s macro outlook during a press briefing at the 11th Invest Malaysia 2015 (IMKL) here.

In attendance were Mah Sing’s founder and Group Managing Director cum Group Chief Executive, Tan Sri Dato’ Sri Leong Hoy Kum as well as Chief Executive Officer Mr. Ng Chai Yong and Executive Director, Group Corporate and Investment Dato’ Steven Ng Poh Seng.

Mah Sing Sets Sales Target of At Least Rm3.43billion for 2015 – Achieved Commendable Sales of Rm761million To-Date

The Group emerged as the biggest listed property developer by domestic sales value in Malaysia in 2014, charting a record RM3.43billion in total sales volume which represents a 14% growth compared to the previous year.

For 2015, the Group is confident of replicating this achievement and has set a sales target of at least RM3.43billion, banking on its strategy of providing affordable homes to the mass market segment with a focus on projects mainly in the Klang Valley.

The Group has achieved RM761million in sales as at 22nd April 2015 despite the shorter working Q1 due to the festive season, and is confident of achieving its 2015 sales target because of its product mix at the right locations and attractive pricing.

Greater KL & Klang Valley are expected to contribute 67% to sales this year, with Johor expected to contribute 20% followed by Penang at 11% and Sabah at 2% sales. (Recent and upcoming launches for 2015 are listed at the end of this document).

A Complete Range of Products at Diversified Locations at an Attractive Price, Targeting Right Buyers

The Group has a complete range of products spread across the property hotspots of Greater KL and Klang Valley, Penang, Johor and Sabah to cater to the different demands of the market. Its 48 projects (11 completed) in these property hotspots comprise of residential projects, industrial projects and commercial projects such as lifestyle shops, retail shops, gourmet street shops and offices which complement township developments.

Keeping with its strategy of providing affordable homes to the mass market segment, 84% of the Group’s planned residential launches in 2015 will be priced below RM1million, with 71% priced below RM700,000 and 44% priced below RM500,000.

The Group will also continue to focus on the demand from Malaysians aged 39 years and below, which form the target market segment of Mah Sing. This relatively young segment of Malaysians represents approximately 70% of the current 30 million population which will create new household formations and drive demand for new homes. This is especially so in the Klang Valley as more Malaysians flock to the city seeking employment and career development opportunities.

The Klang Valley remains a focal point for the Group as statistics have shown an exponential population growth rate at 34% from the year 2000 to 2013 compared to Malaysia’s total population growth rate of 27%. There are an estimated 7 million people currently in the Klang Valley, and this number is expected to increase to 10 million by the year 2020.

Robust Results, Strong Unbilled Sales of Rm5.3billion

As at 31st December 2014, Mah Sing’s unbilled sales position stood at approximately RM5.3billion, which is equivalent to 2 times the revenue recognised from the property division in 2014 and assures the Group of near term revenue visibility and steady streams of cash flows and liquidity. This is attributed to the Group’s quick turnaround strategy with the right products at strategic locations and also the Group’s ability to replenish land with favourable terms.

Ample Liquidity with Healthy Balance Sheet for Growth Opportunities

The Group recorded a robust five-year (2009-2014) revenue compound annual growth rate (CAGR) of 36% and profit after tax (PAT) CAGR of 28%. In addition, Mah Sing’s equity base produced a high return on equity (ROE) of a five-year average (2009-2014) of 15%, which is higher than the industry average of 9% - 10%.

The Group’s strong cash and bank balances amounting to RM1.4billion has placed Mah Sing in a strong position with a healthy balance sheet to continue with its growth and expansion plans. The Group’s zero net gearing position is a further indication of Mah Sing’s ample liquidity and well-managed cash reserves.

Industry Macro Outlook – Underlying Demand Remains Strong

Property remains the preferred wealth preservation and investment option in Malaysia, supported by healthy GDP growth, household income growth, young demography and stable employment conditions.

In its Annual Report 2014 briefing, Bank Negara reported Malaysia as among the fasted growing economies in Asia, recording a stronger real GDP growth of 6% in 2014. This trajectory of growth is also expected to remain on a steady course of 4.5% - 5.5% in 2015.

Supported by this climate of stability, the Group opines that demand will continue to outstrip supply. According to the National Property Information Centre (NAPIC)’s latest report, only 70,000 to 90,000 units of new homes are completed each year, while more than 200,000 units of new properties are required annually to meet household formations arising from new marriages. There is still a large supply-demand gap as supply growth for properties has been on a decreasing trend since 2003, with Malaysia’s supply growth in 2014 at only 2.3% according to NAPIC.

In addition, current low unemployment rates of approximately 3% and rising urbanisation in major states such as Kuala Lumpur, Penang, Johor and Sabah are key drivers which will see healthy demand for the right property products in the right locations. Current attractive mortgage rates from financial institutions at approximately 4.45% have also created a more conducive interest rate environment compared to historical levels of close to double digit in certain years.

Consistent Dividend Payout of Minimum 40% Since 2006

For the financial year 2014, the Group has proposed a first and final single-tier dividend of 6.5sen per ordinary share of RM0.50 each in respect of the financial year ended 31 December 2014, subject to shareholders’ approval in the upcoming Annual General Meeting.
This is consistent with the Group’s dividend payout policy of a minimum of 40% of net profit since 2006, indicating the strong and consistent financial performance of the Group.

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Posted Date: April 17, 2015 12:00 AM, By:
Mah Sing Group Receives Frost & Sullivan Excellence in Growth – Building Construction Industry Award

Kuala Lumpur, April 16, 2015 – Mah Sing Group Berhad (Mah Sing) was recognized with the 2015 Frost & Sullivan Excellence in Growth Building Construction Industry Award, at an awards banquet held at the Mandarin Oriental recently. 

Ms. Harpreet Kaur, Energy & Environmental Research Associate said that Mah Sing has managed to remain resilient in the challenging property development market in Malaysia with its market driven strategies.

She added that Mah Sing’s strategic and well-planned business model and strategies have translated into a strong CAGR of 28% from year 2010 to 2014.

“Mah Sing has also recorded the highest growth in the property development market in Malaysia with its proven strategy of creating high quality, affordable, and sustainable homes and properties,” she said, adding that the company’s developments are strategically located in key business and leisure locations. 

Ms Kaur also said that in line with Malaysia’s vision to achieve a 40 per cent reduction in carbon emission by 2020, Mah Sing has actively incorporated green features in its products and adopted environmental friendly and sustainable construction practices to reduce its carbon footprint.

“We are honored to accept this award from Frost & Sullivan, a leading growth consulting company this achievement is attributable to my great and talented team at Mah Sing Further to building quality homes, it is my vision to build premier lifestyles. I am a believer of innovation and creativity,” said Mr. Ng Chai Yong, Chief Executive Officer of Mah Sing. 

Mr Ng further added, “Life is about continuous learning and improvement and this is my motto. The world is constantly changing and as a market-driven developer, it is our trade to stay ahead of the market. We are committed to live up to our brand’s promise, which is to build a premier lifestyle for you.”

Incorporated since 1991 and listed on the Main Market of Bursa Malaysia, Mah Sing Group Berhad currently has 48 projects spread throughout Malaysia’s economic nexus and property hotspots, namely Kuala Lumpur and the Klang Valley, Seremban, Johor Bahru (Iskandar Malaysia) and Penang and Kota Kinabalu, Sabah. The Group has proven its versatility with a diverse range of projects, from medium to high-end landed residential properties to Grade A office buildings, retail projects, SoHo and industrial projects. For over two decades, Mah Sing has continuously created iconic developments that have won more than 100 domestic and global awards for product design, concept, innovation and quality. These lifestyle developments have also enabled Mah Sing to achieve one of the highest sales figures amongst property developers in Malaysia.

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Posted Date: April 07, 2015 12:00 AM, By:
Mah Sing Group Honoured With Two International Awards

KUALA LUMPUR - Premier lifestyle developer Mah Sing Group Berhad (Mah Sing) was recently honoured with two internationally acclaimed awards, namely:

1. Best Company for Leadership Property Development Award in the real estate category by International Alternative Investment Review (IAIR)
2. Malaysia’s Best Employer Brand Awards by Employer Branding Institute 

IAIR Awards
The 5th annual edition of the IAIR Awards Ceremony was held on 10th March 2015 at the Conrad Hotel in Hong Kong. The recognition marks Mah Sing’s second win for the IAIR Best Company for Leadership Award in Malaysia. The Company was awarded on the basis of 8 main focus areas; Sustainability, Business Results, Leadership in the Field, Green Initiative, Strategic Development, High Quality of Service, Innovation in the Field and Employee Training. This is testament to Mah Sing’s determination in upholding its commitment to quality products, innovative designs, sustainable concepts and avant-garde infrastructure throughout its projects as well as the continuous improvement and development of the staff force. 

“Mah Sing is committed to be a market leader especially when it comes to building a premier lifestyle. We are dedicated to providing our buyers with high-quality products, prompt delivery and excellent service through our uncompromising commitment towards total customer satisfaction,” said Tan Sri Dato’ Sri Leong Hoy Kum, Mah Sing's Group Managing Director cum Group Chief Executive.

IAIR Awards is one of the world’s leading ranking awards for excellence in the global economy and sustainability. The award organization itself was established from the scientific committee of IAIR and IAIREVIEW.org. The award mainly focuses on Global Economy and Sustainability as well as these categories; Forex, ETFs and Commodities, Law, Asset Management, Family Office and Wealth Management, Philanthropy, Private Equity, Real Estate and Property, Succession Planning and Family Business.

Employer Branding Awards 
The 9th Employer Branding Awards took place on 25th March 2015 at Prince Hotel and Residence, Kuala Lumpur. Mah Sing was recognized for its outstanding performance and leadership as an employer. 

Mah Sing believes that Human Capital is the driving force of a successful company. Hence, the Group is genuinely committed in attracting talents, developing its people and retaining its people through successful and effective human resource strategies that are closely aligned to its business strategies. Prior to this, Mah Sing was awarded HR Asia for Best Companies to Work For In Asia 2013; the Asia Responsible Entrepreneurship Awards 2014 - Investment in People; and the Asia HRD Awards 2014 for Contribution to the Society

Mah Sing aims to instill a sense of ownership, pride and accountability within the employee through various initiatives. Further to this, steps were also taken to inculcate the spirit of camaraderie between departments as cooperation between departments is essential to a company’s success. Internal and external trainings been provided for all employees, from non-executives to senior management to promote the continuous learning and improvement of each individual.

The Malaysia Best Employer Brand Award was organized by the Employer Branding Institute and Stars of the Industry Group with CHRO Asia as a strategic partner. The initiative was endorsed by the Asian Confederation of Business. 


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Posted Date: September 24, 2014 12:00 AM, By:
Mah Sing Foundation's Charity Dinner Raises RM3.38 Million


With a theme of “Building Lives Together”, Mah Sing Foundation’s Charity Dinner (the Dinner) was a record-breaking feat of sorts. The fundraising event saw RM3.38million raised for charity, the highest since the establishment of Mah Sing Foundation (the Foundation) in 2005 as the charitable arm of premier lifestyle developer, Mah Sing Group Berhad (Mah Sing). Continuing the feat was the disbursement of funds amounting to RM510,000, the highest donation so far, to 22 charities, seven (7) more than the previous year.

The dinner was graced by YB Datuk Rahman Dahlan, Minister of Urban Wellbeing, Housing and Local Government, with other notable attendees including Jen, Tan Sri Yaacob bin Mat Zin, Chairman of Mah Sing Group and member of the Board of Trustees, Tan Sri Dato’ Sri Leong Hoy Kum (Tan Sri Dato’ Sri Leong), Mah Sing’s Group Managing Director cum Chief Executive and Dato’ Syed Norulzaman, Chairman of Mah Sing Foundation.

Dato’ Syed Norulzaman, in his welcoming speech emphasized the efforts of Mah Sing Foundation to organize fundraising events such as the Charity Dinner is so that through organization, efforts are not only consolidated, but effects are maximized.

“Mah Sing Foundation has maintained its support in both monetary and kind to medical, educational and societal needs, as well as those in poverty or distress. We have helped both local and foreign relief work including our contribution of RM300,000 to Gaza’s aid in addition to our ongoing efforts to support 8 undergraduates of related fields from TAR University College in both monetary terms and industrial placement and a renewed pledge of RM200,000 for the Dignity for Children Foundation among others.”

Besides education, Mah Sing Foudation has been actively supporting charities that reach out to urban poor such as Kechara Soup Kitchen Society, and Pudu Rotary Club’s Stop Hunger Now project, as well as those who reach individuals with serious health need such as National Stroke Association (NASAM), Sau Seng Lam (SSL) Haemodialysis Centre, the National Kidney Foundation and St John Ambulance Malaysia (Kawasan Pantai Selangor), which was given a fully-equipped ambulance.

Education – Investing In the Future of Malaysia

As mentioned in Dato’ Syed’s speech, the Mah Sing Foundation Scholarship has managed to identify 8 deserving undergraduates of Tunku Abdul Rahman University College (TAR UC) undertaking Finance & Investment, Accounting, Logistics & Supply Chain Management, Architecture, Quantity Surveying and Construction Management & Economics.

The scholarship covers the entire 3- and 4-year tuition fees plus living expenses at RM600 per month, totaling RM408,000; industrial placement in relevant Mah Sing Group departments and even a job offer waiting for those who are competent in their field.

In fact, the Foundation’s contribution of RM200,000 to Dignity for Children Foundation this year is to continue the support of a batch of children that the Foundation has supported since their Primary Education days. The aid is to see this batch through their Secondary Education and also some of their sporting events such as their Sports Days and the Faisal Cup Challenge.

A brand new effort to support Teach for Malaysia with RM200,000 aims to support a 2 year fellowship for exceptional Malaysian graduates and young professionals to embark on a teaching programme that addresses educational inequity in rural and semi-suburban schools. The contribution is to encourage young graduates to consider teaching as a way to build the nation.

Also, as a responsible corporate citizen, Mah Sing will be utilizing its’ expertise in property development to help schools, whether in the communities they have built or otherwise, to build school buildings such as multi-purpose halls for school assemblies, creating a wholesome learning environment for the next generation.

Health & Wellbeing – Promoting the Hallmarks of A Premier Lifestyle

Beginning with a video of Tan Sri Dato’ Sri Leong being challenged to do the now famous Ice Bucket Challenge for Amyotrophic Lateral Sclerosis (ALS) or Lou Gehrig’s Disease in the US,  the video continued to show the challenge being posed to a group of young and vibrant Mah Sing staff.

The staff challenged then mentioned that the monies collected will be channeled to the Cerebral Palsy Children’s Association, Penang as both ALS and Cerebral Palsy are classified as motor neurone disorders.  The Mah Sing staff then challenged their fellow colleagues, friends and family members to join them at the Icon City Sales Gallery on the day before the Mah Sing Foundation Charity Dinner, 20 September 2014, to get drenched for a good cause. In addition to that, Mah Sing Foundation has generously offered to top up another RM100 for every person contributing RM20, leading to the total amount donated per person as RM120 and the total collected at approximately RM30,000.

This effort highlights Mah Sing Foundation’s sensitivity and quick response to a cause that is trending on social media networks in addition to its continued effort to support the health needs of those with serious or terminal health issues and has donated a unit of dialysis machine each to Sau Seng Lum (SSL) Haemodialysis Centre and the National Kidney Foundation. A new effort to aid those giving emergency care, sees the Foundation donating a fully-equipped ambulance to St John Ambulance Malaysia, allowing the organization to focus on its rescuing missions.

A Year of Increase In Both Amounts & Charities

The new 2014-2015 year for Mah Sing Foundation marks a year of increase in the amount and donors as well as the number of charities to be helped. Continuing the good example set all these years, Tan Sri Leong led the charge with a contribution of RM350,000 and a further RM750,000 contributed by Mah Sing Group Berhad to the Foundation, bringing the total to RM1.1million. The other main contributors are Eng Han Bina Sdn Bhd and Pembinaan Bintang Baru Sdn Bhd with donations of RM150,000 each.

The top 30 donors at Mah Sing Foundation’s Charity Night received a specially painted horse prepared by 30 children from an orphanage under the tutelage of a teacher from Da Vinci Creative Kids. This is an auspicious symbol as this is the Year of the Horse in the Chinese calendar, and also the first character in Mah Sing Group’s name.

Talking about orphanages, various children’s homes were beneficiaries in a record breaking list of 22 beneficiaries from 15 last year. Aside from supporting Dignity for Children’s educational programmes, there were four (4) Chinese national type schools selected for financial aid. They are SJKC Sungai Chua. Kajang; SJKC Wen Khai, Penang; Sekolah Menengah Chong Hwa Kuantan, Pahang and SJKC Confucian, Kuala Lumpur. Supporting the movement to increase Chinese language literacy and cultivate interest in Chinese language among school-going children, the Foundation also supports Chinese daily, Nanyang Siang Pau’s Newspaper Cutting Contest.

Besides these beneficiaries, others ministering to children were Trinity Community Children Home, Yayasan Sunbeams Home and Rumah Aman. Meanwhile, Stepping Stone Living Centre admits both children and senior citizens. Certain homes minister to children with special needs, such as Pusat Kanak-Kanak Terencat Akal Bahagia, Pusat Jagaan Kanak-Kanak Kurang Upaya KIRTARSH and Vinashini Home, while those that admit those of all ages are Bethany Home and Independent Living and Training Centre for the Disabled.

Shuang Fu (Dual Blessing Berhad) is the only beneficiary that helps the disabled while rehabilitating drug addicts. Additionally, Grace Home is the only charity in the list of beneficiaries which ministers to women in distress.

The silver-haired generation is not forgotten either with Rumah Orang-Orang Tua Seri Setia, Persatuan Kebajukan Warga Tua Wilayah Persekutuan and Rumah Kasih in the list of subsidiaries. Healthcare and wellbeing are both important markers of the quality of life and the aforementioned Sau Seng Lum Haemodialysis Centre, National Kidney Foundation and St John Ambulance’s are the medical-related beneficiaries receiving aid.

Pride of Malaysia – National Artists Perform

Following the nation’s 57th Merdeka Day, in which the nation achieved Independence in 1957, Mah Sing Foundation decided to bring in local acts that have made Malaysia proud. The headliner of the evening was Jess Lee, Malaysia’s first winner of Taiwan’s most popular singing competition, One Million Stars (7th Season). This Taiwan-based entertainer wowed the audience with her repertoire of songs through the night.

Another noted Malaysian is violinist extraordinaire, Dennis Lau, who performed two songs at the Charity Dinner. Lau, among Malaysia’s musical ambassador has among other things also starred in Nasi Lemak 2.0, a reloaded version named after the ubiquitous Malaysian dish. Talking about local made productions, The Journey’s Uncle Frankie made an appearance and after his presentation touched on the production’s inspiration and heart.

In addition to these acts, a speed painting demo was done right at the beginning of the evening as an opening act. Dignity for Children, one of the beneficiaries, also presented a dance during the Night.

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Posted Date: August 22, 2014 12:00 AM, By:
It only gets better with Lakeville Residence
Investment Highlights

- We maintain our BUY call on Mah Sing Group with an unchanged fair value of RM3.60/share – at parity to its NAV. Mah Sing officially launched its Lakeville Residence project at Taman Wahyu, KL last weekend, where more than 9,000 guests turned up for the event.

- Not unlike the initial take-ups for its other recent key projects in the Klang Valley (e.g. Southville City@Bangi, D’sara Sentral), the response to Lakeville Residence has been encouraging.

- Lakeville Residence has a total GDV of c.RM1.5bil that comprises six towers (A, B, C, D, E & F) of residential and commercial products designed with a lakeside living theme.

- During its official launch, the first four blocks (total: 1,244 units) saw a take-up rate of 85% with an indicative value of c.RM708mil. Two more towers (C & D) were opened for registration of interest.

- The serviced apartments have built-ups that range from 978sf to 1,365sf, with prices starting from ~RM562k. In addition, there are also limited units of three to four storey lifestyle shops (built-up: starting from 4,651sf at RM3.5mil onwards) that fronts Jln Sibu.

- From our channel checks, the average pricing for the condo blocks have already moved up from c.RM550psf initially to about RM580psf-RM600psf.

- In our view, the vibrant debut of Lakeville Residence could be largely due to its well-thought-out concept, attractive price point, and strategic location. Firstly, the development is located along Jln. Kuching and within the matured neighbourhoods of Kepong and Selayang (15 minutes from KL city centre). Connectivity will be further boosted via a proposed link road to Tesco and Kepong.

- From a product stand-point, purchasers of Lakeville Residence will enjoy partially furnished units that will come with fully-fitted kitchen cabinets, air conditioning, water heaters and two parking slots.

- Another key attraction is a 3-acre nature-themed facility podium within the development, which will be one of the largest sky parks in KL when completed. All this comes with the lakeside location of Taman Wahyu, with excellent frontage skirting the lakeshore.

- We continue to rate Mah Sing as our top large cap property pick. The stock trades at a steep discount of 32% vis-a-vis its NAV despite its strong project pipeline and healthy unbilled landbank GDV of c.RM40bil (including unbilled sales of c.RM4.6bil).

 

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Posted Date: July 05, 2014 12:00 AM, By:
Mah Sing Foundation Donates RM200,000.00 to Dignity for Children Foundation
Mock Cheque Presentation to Dignity for Children Foundation (Center From Left – Right) Present were Executive Director of Dignity -Madam Petrina Shee; Mah Sing Foundation Chairman-Dato’ Syed Norulzaman B. Syed Kamarulzaman; The trustees of Dignity-Reverend Elisha Satvinder; Mah Sing Foundation- Melissa Le and the students

Kuala Lumpur – Mah Sing Foundation, a charitable trust established by Mah Sing Group Berhad recently donated a grand total of MYR200,000.00 to Dignity for Children Foundation in supporting their Secondary Education programme, which will benefit a total number of 295 secondary students throughout the year.

Dignity begun as Harvest Centre Berhad which was registered on 3rd August 2008, as a teaching facility with a mission to break the cycle of poverty through quality education and care from Montessori preschool to secondary level for children of the urban poor and underprivileged children. In the year 2010, all Harvest Centre education projects came under Dignity For Children Foundation.

 This year, the contribution of Mah Sing Foundation mainly supports the SECONDARY EDUCATION PROGRAM of Dignity INCLUDING: -

(a) Accelerated Learning Class (ALC) - Pre Secondary Education
(b) Lower Secondary and Upper Secondary Education
(c) Cambridge IGCSE Secondary Education (exam)

Mah Sing Foundation chairman Dato’ Syed Norulzaman said Mah Sing Foundation strongly believed that all children should have access to quality education.

Last year, Mah Sing Foundation also contributed RM210,995.00 to assist Dignity in their Primary Education Program and Faisal Cup.


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Posted Date: June 14, 2014 12:00 AM, By:
Mah Sing Group Berhad's Managing Director & Group Chief Executive Honoured With Prestigious Award


Group Managing Director cum Group Chief Executive of Mah Sing Group Berhad, Tan Sri Dato’ Sri Leong Hoy Kum was recently honoured with the Contribution to the Society Award for the Asia HRD Awards 2014. The 12th annual Asia HRD Awards Ceremony was held in Shangri-La Hotel, Kuala Lumpur on 10 June 2014.

Tan Sri Dato’ Sri Leong Hoy Kum was awarded the Contribution to the Society Award based on his contribution towards the development of society. Tan Sri Dato’ Sri Leong was recognize for his ideas in education and learning that have been adopted by community with significant results as well as his direct participation in education and learning projects that have impacted the life of a community.

“It is an honor to receive this award. As a caring corporate citizen, Mah Sing Group Berhad’s corporate social responsibility is deeply embedded in our corporate philosophy. Winning an award is a responsibility and we will try our very best to live up to it. We will continue to contribute to make the communities in which we operate a better place,” said Tan Sri Dato’ Sri Leong Hoy Kum, Mah Sing Group Berhad’s Group Managing Director cum Group Chief Executive.

Asia HRD Awards

The Asia HRD Awards is an independent initiative created to celebrate excellence in human development. It aims to honour individuals who have significantly impacted or influenced the society, the corporate world, and the HR Community in the area of Human Development. There are 4 categories in this award: Lifetime Achievement, Contribution to Society, Contribution to Organisation and Contribution to HR Community.

Award winners were selected by an independent Awards Committee through independent nomination questionnaires which include biographic, occupational history sketches and detailed record of achievements. The goal of the Awards is to develop best practices and showcase the award recipients' experiences in promoting human development.



Winners of the Prestigious Award

Further to Tan Sri Dato’ Sri Leong Hoy Kum, the winner for Contribution to the Society Award are YBhg Tan Sri Sidek Hassan Ali, Chairman of PETRONAS Malaysia, Dato’ Wira Haji Ameer Ali, Managing Director of Mydin Malaysia and YBhg Datuk Ibrahim Ahmad, Director General of MARA.

Preceding winners for Contribution to the Society Award include YBhg Dato’ Sri Dr. Tony Fernandes, Group CEO of Air Asia Berhad, Datuk Michael Chong Ten Soo, Head of Public Services & Complaints for MCA Malaysia and YBhg Professor Dato’ Dr Mohamed Mustafa Ishak, Vice Chancellor of University Utara Malaysia.

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Posted Date: June 13, 2014 12:00 AM, By:
Mah Sing Group at IM 2014 - Corporate Updates


Lifestyle developer Mah Sing Group Berhad on 9 June gave a press briefing during Invest Malaysia 2014, covering the property industry’s macro outlook, the Group’s strategy and financials update, as well as key project updates.

In attendance were Mah Sing’s founder and Group Managing Director cum Group Chief Executive, Tan Sri Dato’ Sri Leong Hoy Kum as well as Executive Directors Dato’ Steven Ng and Dato’ Lim Kiu Hock.

MACRO OUTLOOK – MISMATCH OF SUPPLY AND DEMAND STILL PREVALENT WITH SUPPLY SHORTAGE OF MORE THAN 3 MILLION RESIDENTIAL PROPERTIES

Malaysia’s property sector is primarily driven by domestic demand, supported by a strong demographic in which a younger population leads to new household formation. Around 69% of the country’s 29 million total population is below 39 years old, implying that many are looking to purchase their first homes as well as looking to upgrade to accommodate larger families or invest in a second home.

In addition to that, rising urbanization, accessibility of credit and low unemployment of only 3.2% also helps to underpin demand for properties. Property prices have been increasing gradually over the years with double digits growth since 2012.

The underlying cause may be the continued mismatch of supply and demand of properties.  Malaysia’s supply growth for properties has been on a decreasing trend and this supply-demand gap has been widening in these recent years, with the annual supply growth in 2013 for the nation at only 1.9%.

Home ownership in the country is still relatively low, especially in Kuala Lumpur at 50.8% and Selangor at 69.4%.  Taking into account an average household size of 4.31 people, housing demand for our population is close to 7 million units. As at the first quarter of 2014, there are only 4.7million units of housing supply, out of which 3.5 million units are owned while the remaining are rented and quarters, creating a supply shortage of more than 3million residential properties.

MAH SING’S STRATEGIES TO MATCH MARKET DEMAND

Agile and Flexible Developer with Diverse Products across 4 Property Hotspots
Mah Sing currently has a complete range of residential, commercial and industrial projects spread across Greater KL and Klang Valley, Johor and Iskandar Malaysia, Penang and Sabah, with remaining Gross Development Value (GDV) and unbilled sales of RM33.9 billion. This provides a strong and diversified GDV pipeline for long term earnings visibility of 7 to 8 years.

Strong Unbilled Sales
Mah Sing has a RM3.6billion sales target for 2014 and achieved property sales of approximately RM770 million as at 31 March 2014 due to the focus in mass market properties at the right locations and products that are in line with market demand. The Group also has strong earnings visibility, with unbilled sales of approximately RM4.64 billion as at 31 March 2014 or approximately 2.7 times the revenue recognized from the property development division in 2013.

Affordability
The focus this year is to ensure affordability; 87% of planned residential product launches are priced below RM1 million (81% priced below RM700k).  This is compared to 2013’s launches where only 77% of residential products were priced RM1million and below.

The strategy has proven effective, evidenced by townships such as Southville City@KL South achieving 90% take up for Savanna Executive suites and 80% take up for Avens Residence superlink homes – these 2 components alone chalked up approximately RM661million sales.  D’sara Sentral across the upcoming Kg Baru Sg Buloh MRT station saw 80% and 60% take up for the shops and serviced suites respectively, while M Residence@Rawang’s 2storey link homes are more than 80% taken up.  Although Mah Sing has shifted its focus to mass-market products to cater for current market demand, the Group still maintains some mid-high to high-end products in selected locations which include One Legenda in Cheras, Aspen in Cyberjaya, M City in Jalan Ampang and Icon Residence in Mont Kiara.

Location wise, Klang Valley projects are expected to contribute 60% to sales this year, followed by Johor Bahru/Iskandar Malaysia projects at 23%, Penang projects 10%, and KK Sabah projects at 7%.

ROBUST 1Q 2014 RESULTS, HEALTHY BALANCE SHEET

1Q Earnings Growth 20.9%
Mah Sing Group Berhad recorded strong revenue and net profit of approximately RM642.2 million and approximately RM84 million respectively for the first quarter ended 31 March 2014. This represents a 51.8% improvement in revenue and 20.9% improvement in net profit compared to the same quarter last year.

Low Net Gearing
Despite expanded operations, Mah Sing’s balance sheets remained strong with a high cash pile of approximately RM614.2 million and low net gearing at 0.25 times as at 31 March 2014, comfortably below management’s optimal net gearing target of 0.5times. The Group is in a strong position to continue its expansion drive via landbanking exercises and development activities.

Over the past 3 years, the Group has a fairly consistent land banking strategy. In 2013, the Group acquired 6 new landbanks with an estimated GDV of approximately RM9.35 billion in all the 4 hotspots it currently operates in.  The Group started 2014 with the first acquisition of 85.43 acres of the Sultan Salahuddin Abdul Aziz Shah (KGSSAAS) Golf Course land in Shah Alam for RM327.5million, which has an estimated GDV of RM2.5billion and is expected to be launched in 2 year’s time.  The Group is exploring other landbanks in Malaysia that fits the Group’s strategy and are suitable for developments which meet market demand.

CONSISTENTLY REWARDING SHAREHOLDERS WITH GROWTH AND DIVIDEND PAYOUT OF MINIMUM 40% SINCE 2006

The Group remains committed to create value and deliver returns to its shareholders. For 2013, the group declared a final single-tier dividend of 8 sen per share, which represents a payout ratio of about 42%, in line with the Group’s dividend policy of paying at least 40% of net profit since 2006. The final dividend declared represents a net yield of approximately 3.5%.

- 10 September 2014
Ex Dividend
- 12 September 2014
Last date of lodgement
- 25 September 2014 – Date payable

The Group has seen robust six-year (2008-2013) revenue and profit after tax (PAT) compound annual growth rate (CAGR) of 25 per cent. On top of that, the Group maintains its efficient management by utilizing its equity base which has produced a high return on equity (ROE) of 14% as at 31 December 2013. Since 2006, the Group sees close to 10-fold growth in term of number of shares.

STRONGER BUYING MOMENTUM IN 2H2014

The Group expects stronger buying momentum in the second half of the year, with potential buyers expected to buy ahead of Goods and Services Tax (GST) implementation next year. There might be a rush to buy property especially towards end-2014 due to inflationary fears and many sees property as an inflation hedge.

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Posted Date: June 05, 2014 12:00 AM, By:
Mah Sing Group Berhad Honoured With Two Awards at The BrandLaureate 2014


Mah Sing Group Berhad (Mah Sing) is pleased to be honoured with two prestigious accolades at The BrandLaureate Award 2014 recently held at The Majestic Hotel. Group Managing Director cum Group Chief Executive of Mah Sing, Tan Sri Dato’ Sri Leong Hoy Kum was conferred with The BrandLaureate Property Man of the Year Award 2013-2014 whilst the Group was awarded The BrandLaureate President’s Award 2013-2014.

The BrandLaureate Awards is organized by the Asia Pacific Brand Foundation (APBF), a non-profit organization. The Awards aims to supports brand mission and to take branding into a new dimension through passion and commitment.

The Man Spearheading Mah Sing

The BrandLaureate Property Man of the Year Award 2013-2014 was conferred to Tan Sri Dato’ Sri Leong in recognition of his contributions to the property sector and for spearheading Mah Sing to be one of the leading and premier property developer in Malaysia. Tan Sri Dato’ Sri Leong is known to be a bold and confident leader who defines and sets high standards of excellence. As a leader, he has inspired many and is invested in building a loyal and talented human capital.

Tan Sri Dato’ Sri Leong said, “It is an honor to receive this award. To be named as an industry leader is a great honor. Further to building quality homes, it is my vision to build premier lifestyles. At Mah Sing, innovation and creativity is greatly encouraged. Customers experience is important, hence is addition to offering homes, Mah Sing offers value-added services with M Care, which provides a holistic after-sales services; and M Club, a loyalty programme which offer various privileges to our buyer.”
 
Started off as a plastic manufacturer, Tan Sri Dato’ Sri Leong has led Mah Sing to be a diversified property developer. The Company’s developments include award-winning industrial parks, to commercial and residential properties such as service apartments and townships. Anticipating the need for mass market products, Mah Sing has strategically innovated its products to cater to the mass market segment.

For 2014, 87% of Mah Sing’s target residential launches comprise mainly mass to mid-segment products priced RM1million and below.  For instance, The Group has a total of 480 acres of land in Rawang offering mostly landed link homes from RM400,000 with the M Residence series, 428 acres in Bangi for Southville City@KL South with Phase 1 named Savannah, offering mainly affordable apartments, from RM338,000 and Phase 2, Avens Residence offering link homes indicatively priced from RM892,800 onwards; and the recent 1,352 acres of land in Bandar Meridin East planned for mostly bread and butter link home.

One of the Top in the Property Industry

Mah Sing was also recognized as consumers’ leading choice when the Group was awarded The BrandLaureate President’s Award 2013-2014. The inaugural award is a special and selective category for brands that have achieved first-rate brand performances. It is to recognize brands who are leaders in their respective industries with a strong culture of innovation and creativity, helping them evolves with time.

“I would like express my gratitude to all those who have supported Mah Sing in our journey to great heights. Thank you to all our buyers for your trust in us. As a market-driven developer, we seek to build a home that caters to all your needs; from easy accessibility, to convenience and security, as well as a place where you can develop yourself and your family.  Moving forward, rest assured that we are committed to live up to our brand’s promise, that is to build a premier lifestyle for you,” said Tan Sri Dato’ Sri Leong.

Mah Sing has also continuously work on ever-improving designs, layouts and where possible, to incorporate earth-friendly green features and innovations in its property development products. During the project design & planning stage, the Group has registered many of its projects for green certification, benchmarking against green compliance standards recognized by the World Green Building Council which include Malaysia’s Green Building Index (GBI), Singapore’s Green Mark; or United States’ Leadership in Energy and Environmental Design (LEED). In testament to the Group’s efforts in greening its development projects, the Southville City@KL South has its Show Village and Sales Gallery stands on 20 acres of lush landscaping. Many of Mah Sing’s developments include rain-harvesting system and solar water-heaters.

Mah Sing is active in all property hotspots of Malaysia, namely, Greater KL and the Klang Valley, Johor Bahru and Iskandar Malaysia, Penang and Kota Kinabalu, Sabah.  Mah Sing is among one of the elite fully-integrated property developers, offering both landed and high-rise residential, integrated commercial centres and niche industrial parks. Mah Sing has won more than 100 domestic and global awards for company performance, corporate governance, product design, concept, innovation and quality.

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Posted Date: June 04, 2014 12:00 AM, By:
Mah Sing Announces Increase In GDV for Southville City@KL South


Premier lifestyle developer Mah Sing Group Berhad (Mah Sing) announced an increase in gross development value (GDV) for Southville City@KL South, from the preliminary RM5.13 billion to RM8.3 billion. The developer attributed the increased of GDV to the recently approved township masterplan, which includes a 2km stretch of commercial development fronting the North-South Highway.

Avens Residence - 80% Take-up

Over the weekend, Mah Sing opened 80 units out of 112 units of Avens Residence’s 2 ½ storey link homes for pre-selection pending official launch mid-June 2014. Interest has been encouraging with 80% of the units, worth approximately RM61 million taken-up at the end of the preview. Avens Residence targets the genuine upgrader market such as three-generation families looking to live together in suburban areas.

Early birds were offered a rebate of RM30,000, and a further RM10,000 reward rebate is offered to those who signed SPA and settled the balance of first 10% within 14 days. Repeat buyers are offered an additional RM5,000 rebate. SPA legal fees and 1st year maintenance charges will be waived.

RM600 Million Sales Achieved

Take-up has been very encouraging for Phase One of Southville City. Savanna Executive Suites offers 3-bedroom affordable homes with built-up starting from 956 sq ft priced from RM338,000. Four towers of Savanna Executive Suites which was launched earlier are over 90% sold. The fifth tower, Tower C2, is newly open for sale following the encouraging response from the first four towers.  Meanwhile, the commercial component, Savanna Lifestyle Shops comprising of 2 storey shop offices with built-up starting from 2,461 sq ft priced from RM1.44million is already 40% sold.  Construction has commenced for Phase One of Southville City@KL South. The approved direct interchange is estimated to complete simultaneously with the completion of Savanna Executive Suites.

A Chance At Freehold Landed Link Homes

An integral part of Southville City, Avens Residence which is Phase Two of Southville City comprises 2 ½ storey and 3 storey link homes.  Avens Residence offers only 196 limited edition link homes, the only link home precinct in Southville City@KL South. Avens Residence enjoys a freehold title, offering upgrader market a chance at an outgoing lifestyle complemented with state-of-the-art security. Avens Residence comes in two different layouts and built-up. The first type offers 112 limited edition 2 ½ storey link homes measuring 22” x 75” sq ft with built-up starting from 2,988 sq ft, indicatively priced at RM892,800 to RM1,105,800. Each unit comes with 5+1 bedroom and 5 bathrooms, 4 which are en-suites.

Avens Residence further offer 84 exclusive units of 3 storey link homes, also measuring 22” x 75 sq ft with built-up starting from 3,438 sq ft indicatively priced at RM1,008,800 to RM1,232,800. Units come with 6+1 bedroom and 6 bathrooms, 5 which are en-suite. Every home at Avens Residence is equipped with home alarm system, centralized water filter system and solar hot water system. Perimeter fencing will have CCTV strategically installed, vehicle access control and boom gates.

Group Managing Director cum Chief Executive of Mah Sing, Tan Sri Dato’ Sri Leong Hoy Kum said, “The spacious and practical layout offered by Southville City’s Avens Residence is suitable for growing families. In addition to providing numerous opportunities for a holistic lifestyle growth, the precinct will enjoy its own standalone gated and guarded perimeter with 24-hour patrolling. The dedicated interchange into Southville City takes you directly from the North-South Expressway to the gates of your Avens abode.”
 
Holistic Community Living At Southville City@KL South

Measuring over 428-acre, Southville City@KL is the epitome of accessibility with its approved dedicated direct interchange from the North-South Highway and only 30-minute drive away from KL City Centre. Southville City emphasize on cleanliness, beautification, security, orderliness and wellbeing. Modern homes and themed shop-offices are built amidst exquisitely landscaped and natural greenery with a 13-km pedestrian footpath-cum-bicycle track that connects the entire neighborhood; there is a riverside walk, nature trail and a 10-acre urban park. Besides that, there are more than 5 golf courses easily within reach. Educational institutions for all ages are ranging from primary to colleges and universities are located neighboring to the township.

“In addition to the outdoor amenities, there will also be a fully equipped clubhouse, extending facilities such as swimming and wading pools, gymnasium, multi-purpose hall and many more. Residents at Southville City will be able to frequent the Clubhouse to spend quality time with their family, sharing in activities that can build family bonds.  It is Mah Sing’s masterplan to develop Southville City as a self-contained haven, slightly outside of the city where families can raise their children in a holistic suburban lifestyle, and still easily travel into the city for their career,” added Tan Sri Dato’ Sri Leong.

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Posted Date: June 03, 2014 12:00 AM, By:
Mah Sing Celebrates the Official Launch of D'Sara Sentral, Sungai Buloh


Premier lifestyle developer Mah Sing Group Berhad (Mah Sing) recently celebrated another milestone with the official launch of D’Sara Sentral, Sungai Buloh. The fully integrated development with a gross development value (GDV) of RM901 million is on schedule for completion by 2018. D’Sara Sentral was designed with the concept of live, work, play and relax in mind. The launch was an opportunity to introduce the lifestyle and convenience that the development has to offer.

Exciting Family Activities and Performances For All!

In conjunction with the launch of D’Sara Sentral, Mah Sing invited the members of the public to join the celebration with a host of exciting family orientated activities. In addition to games and fire eaters, families with children were treated to balloons-making clowns and sand art activities. There were also free-flow of candy floss and popcorn for guests at the launch.

Feng Shui master Dato’ Joey Yap was invited to give tips on making the yin and yang energy work for your home and work space. Taking things up a notch, Mah Sing invited the Top 3 Stars; Esther, Rex and Justin, from the Astro StarQuest 2013 to perform at the launch. More excitingly, Dr. Joanne Yeoh, one of Malaysia’s most established musician held the crowd captive with her skills at the violin.

During the launch, Andy Chua, Chief Operating Officer (Commercial) for Mah Sing said, “To those who have bought a unit at D’Sara Sentral, thank you very much for your confidence in Mah Sing. To those who are considering a unit at D’Sara Sentral, allow me to assure you that this would be a not-to-be-missed investment. D’Sara Sentral is conceptualized for you to live the lifestyle of the future and with the completion of the upcoming MRT line in 2016, your property here will no doubt be giving you great returns in many ways.”



D’Sara Sentral, Sungai Buloh

D’Sara Sentral is located diagonally across the Kampung Baru Sungai Buloh MRT Station, the second station on the Sungai Buloh-Kajang MRT line.  There will be a covered walkway linking the development to the MRT station. The latest Economic Transformation Programme (ETP) reported by the media earlier this week stated that “the MRT project had achieved significant headway in the completion of the system’s foundation and remained on schedule, with its first phase, the Sungai Buloh-Kajang line, to commence operations in December 2016”.  The MRT line will pass through KL’s Central Business District, making the transit time from D’Sara Sentral to KL City a mere 12 minute.

The development comprises of 5 blocks with D’Style Shops (single and dual unit lifestyle retail shops); D’Sovo Suites (Smart Office Versatile Office) and D’Residenz Suites (service residences). D’Style Shops offers units with built-up ranging from 388 sq ft to 5,386 sq ft, with price starting from RM380,000 onwards. D’Sovo Suites offers units with built-up starting from 504 sq ft priced from RM380,000 onwards; while D’Residenz apartments offers units with built-up starting from 809 sq ft priced from RM548,000 onwards. All components are now open for sale. At the launch, take-ups so far have been very encouraging with D’Style Shops more than 80% sold, and D’Sovo Suites exceeded 60%.  Registrations for the D’Residenz apartments have been overwhelming and Tower 1A is expected to be sold out when launched in end June / early July 2014.

“Further to quality properties, Mah Sing is committed to build communities complemented with premier lifestyles. D’Sara Sentral brings convenience to you not just in terms of location and accessibility, but within the development as well. For example, occupants at D’Sara Sentral will enjoy high speed broadband infrastructures. Partially furnished units will come with SMATV with Hi- Definition and fully-fitted kitchen cabinets,” added Mr Chua.

One Step Further with MCare and MClub

Mah Sing has also set up MCare to assist house buyers. MCare is a one-stop professional service for Mah Sing property owners to provide a myriad of services. The professional consultation services include renovation and interior design consultations, relocation services, butler or concierge services for owner-occupied units, as well as leasing and sub-sale services.

Further to this, Mah Sing provides a distinctive buyer loyalty programme, called MClub. Mah Sing’s MClub was specially created to provide additional benefits to house buyers where members can enjoy Buyer Repeat Purchase Discounts, Buyer Get Buyer Rewards, Birthday Surprises and many more exceptional benefits. Currently, the Club has more than 16,000 members.

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Posted Date: June 02, 2014 12:00 AM, By:
Mah Sing’s Avens Residence at Southville City@KL South Opens for Registration


Premier lifestyle developer Mah Sing Group Berhad previewed Avens Residence at Southville City@KL South on 1 June. Avens Residence which is Phase Two of Southville City comprises 2½-storey and 3-storey link homes. It offers 196 limited edition link homes and is the only link home precinct in the master development. During the preview, famed feng shui consultant Dato’ Joey Yap was invited to share his insights on the opportunities that Southville City has to offer.

A Chance at Freehold Landed Link Homes

An integral part of Southville City, Avens Residence enjoys a freehold title and offers the upgrader market a chance at an outgoing lifestyle complemented by state-of-the-art security. Its homes come in two different layout and built-up size options. The first type comprises 112 limited edition 2½-storey link homes which have measurements of 22’ x 75’, built-up sizes of 2,988 sq ft and are indicatively priced at RM892,800 to RM1,105,800. Each unit comes with 5+1 bedrooms and 5 bathrooms, 4 of which are en-suites.

Avens Residence further offers 84 exclusive units of 3-storey link homes which also measure 22’ x 75’, have built-up sizes of 3,438 sq ft and are indicatively priced at RM1,008,800 to RM1,232,800. The units come with 6+1 bedrooms and 6 bathrooms, 5 of which are en-suites. Every home at Avens Residence is equipped with a home alarm system, centralised water filter system and solar hot water system. The development has perimeter fencing with strategically-installed CCTV, vehicle access control and boom gates.

Group Managing Director and Chief Executive of Mah Sing Tan Sri Dato’ Sri Leong Hoy Kum said, “The spacious and practical layout offered by Southville City’s Avens Residence is suitable for growing families. In addition to providing numerous opportunities for a holistic lifestyle, the precinct will enjoy its own standalone gated and guarded perimeter with 24-hour patrols. The dedicated interchange into Southville City takes you directly from the North-South Expressway to the gates of your Avens abode.”



Holistic Community Living at Southville City@KL South

Spread across more than 428 acres of prime land, Southville City@KL South has an estimated gross development value of RM8.3 billion which is to be stretched over the next 7 years. The township is the epitome of accessibility with its approved dedicated direct interchange from the North-South Expressway and is only a 30-minute drive away from KL City Centre.

Southville City places emphasis on cleanliness, beautification, security, orderliness and wellbeing. Its modern homes and themed shop offices are built amidst exquisitely landscaped and natural greenery which is complemented by a 13-km pedestrian footpath-cum-bicycle track that connects the entire neighbourhood. There is also a riverside walk, nature trail and a 10-acre urban park. Aside from that, there are more than 5 golf courses which are within easy reach of the development. Last but not least, educational institutions for all ages ranging from primary schools to colleges and universities are located close to the township.

“In addition to the outdoor amenities, there will also be a fully-equipped clubhouse, extending facilities such as swimming and wading pools, gymnasium, multipurpose hall and many more. Residents of Southville City will be able to frequent the clubhouse to spend quality time with their family, sharing in activities that can build family bonds. It is Mah Sing’s masterplan to develop Southville City as a self-contained haven slightly outside of the city where families can raise their children in a holistic suburban lifestyle and still easily travel into the city for their work,” added Tan Sri Dato’ Sri Leong.

The take-up rate has been very encouraging for Phase One of Southville City. The residential component Savanna Executive Suites offers 3-bedroom affordable homes with built-up sizes starting at 956 sq ft and prices of RM338,00 and above. Four towers of Savanna Executive Suites which were launched earlier have been 90% sold. The fifth tower, Tower C2, was recently launched due to the encouraging response from the first four towers. Meanwhile, the commercial component Savanna Lifestyle Shops which comprises 2-storey shop offices with built-up sizes starting from 2,461 sq ft and prices beginning at RM1.44 million have already been 40% sold.

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Posted Date: May 19, 2014 12:00 AM, By:
Mah Sing target price raised to RM2.40

HONG Leong Investment Bank Research (HLIB) has raised Mah Sing Group Bhd’s target price to RM2.40 on new product positioning measures.

“Our conversation with Mah Sing’s management suggest that it remains confident of meeting the sales target this year, as it has planned for 80 per cent of its launches to be priced below RM700,000,” said the research house. 

On the goods and services tax for residential properties, Mah Sing believes that the extent of pass-through by developers is likely to be three to five per cent, which could lead to a rush in buying by purchasers in the second half of this year. 

“On another note, the management recently went on a roadshow to United States/Europe and cited heightened interest from US fund managers. We view this is a potential catalyst, given that its current 19 per cent foreign shareholding is way below the May 2013 peak of 28 per cent,” said HLIB in a note to investors.

“Klang Valley is expected to contribute 60 per cent of sales target. Key projects such as Southville@Bangi, D’sara Sentral and Lakeville Residence are high-rise projects in the hotspots of Klang Valley, which we believe will enjoy good takeup rates this year,” said HLIB.

- THE BUSINESS TIMES

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Posted Date: March 25, 2014 12:00 AM, By:
Macquarie renews ‘outperform’ call on Mah Sing

MACQUARIE Equities Research reiterates its "outperform" call on Mah Sing Group Bhd, saying the stock is trading at 33 per cent discount to its revised net asset value (RNAV) estimate, slightly lower than its peers in Malaysia.

"We believe this discount can narrow further if Mah Sing can continue to deliver strong sales numbers in a slowing market," said Macquarie in a note yesterday.

Despite tightening measures introduced by the government in the past year, Mah Sing management believes that the company can deliver higher sales this year due to its project locations and product mix.

"We are not as bullish as the management on new sales for the year, but believe that the company can nevertheless post at least flat sales for 2014," commented the research house.
It said unbilled sales of RM4.4 billion (2.5x 2013 revenue) provide solid earnings.

Macquarie believes that Mah Sing's continued focus on Klang Valley (60 per cent of gross development value), where the supply-demand fundamentals are still the most favourable for developers in its view, should enable it to record good sales.




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Posted Date: March 18, 2014 12:00 AM, By:
TA upgrades Mah Sing’s target price to RM2.55

TA Securities, which sees Mah Sing’s first land acquisition in 2014 as positive for the group’s future growth, said the deal is slated to further enhance the group’s presence in the Klang Valley.

“We make no change to our forecasts for financial years 2014 and 2015 and take this opportunity to introduce our 2016 financial year earning estimates, with a projected earnings per share growth of 15 per cent year-on-year. We project the group to rake in new sales of RM3.2 billion to RM3.8 billion for the financial years 2014 to 2016,” it said.

The research house revised its target price to RM2.55 a share from RM2.50 previously and maintains its “buy” call on Mah Sing.

Last week, Mah Sing announced that it is buying about 34.17ha of fairway at  SAAS golf course for RM327.4 million for a high-end residential property project. 

CIMB Research said  acquisition cost makes up 13 per cent  gross development value  of the project.   It maintains  its “add” call and target price.

Mah Sing remains the research house’s top pick in the property sector.




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Posted Date: January 11, 2014 12:00 AM, By:
Mah Sing Group Named 'Overall Best Managed Company in Malaysia' by Euromoney Magazine


Leading international magazine Euromoney on 10 January named Mah Sing Group Berhad as Euromoney's ‘Best Managed and Governed Companies - Asia poll 2014’.

The poll is based on replies received from a total of 93 of the leading equity analysts at the largest investment banks and research houses in the Asia Pacific region nominating a total of 214 different companies. Analysts were asked to name which companies were the most impressive across a number of factors including; management accessibility, accounting transparency and corporate governance procedures amongst others.

Analysts praised Mah Sing Group for its leading role in promoting transparent communication to investors, citing that “the company has a clear strategy and good visibility”. Analysts also noted that “Mah Sing Group senior management continues to demonstrate prudent gearing, transparency, good governance and clear articulation of strategy”.

“Winning this Award is a testament that Mah Sing is committed to driving success through our people. At Mah Sing, we have a diverse team with different strength and abilities. We do not just hire talents, but we cultivate and nature the talents as well. We are a fast-paced company and every member of my staff is an asset,” said Tan Sri Dato’ Sri Leong Hoy Kum, Mah Sing Group Berhad’s Group Managing Director cum Group Chief Executive.

In a recent analyst report by CIMB, Mah Sing remains CIMB’s top pick for the property development and investment sector. The property sector was one of the best performing sectors in 2013, despite share-price pullbacks in August, along with the broader market’s performance amidst Fed-tapering concerns and further pullbacks Post Budget 2014 in October.

This is the 15th annual ranking of the Best Managed and Governed Companies in Asia that Euromoney has published and is seen as the benchmark survey of the opinions of equity analysts in the region. Clive Horwood, Editor of Euromoney Magazine, said: “The continuing prominence of Asia in global markets has created new growth opportunities for Asian companies. Through our annual survey, leading analysts covering Asia across all sectors have rewarded well governed institutions for sound financials and transparent relations with an increasingly wider investor pool.”

Mah Sing Group was also awarded Euromoney Best Industrial Property in Malaysia Award 2012, Euromoney Best Developer in Malaysia Award 2011, 2009 and 2008.  In 2008, Mah Sing also won Euromoney Liquid Real Estate Awards for Best Office/Business Developer in Malaysia and Best Mixed-Use Developer in Malaysia.

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Posted Date: January 10, 2014 12:00 AM, By:
Mah Sing Explains Inspiration Behind Malaysia's Biggest Show Village and Sales Gallery


Mah Sing Group Berhad (Mah Sing) on 9 January revealed the inspiration behind the design and landscape of its Southville City@KL South Show Village and Sales Gallery in Bangi. The Show Village and Sales Gallery is the biggest one by Mah Sing and is also the biggest Show Village and Sales Gallery in the country.

“The Show Village and Sales Gallery stands on 20 acres of lush landscaping which includes mature imported palms, tiers of greenery and shrubs as well as a lake garden. Mah Sing’s investment in the Southville City@KL South Show Village and Sales Gallery is testament of our efforts in greening the Southville City township,” said James Bruyns, Chief Operating Officer for Marketing and Sales, Township Residential.

20 Acres of Lush Landscaping Designed with Unity In Mind

The extensive and integrated landscape around the Southville City Show Village and Sales Gallery was designed with vast space and open air circulation areas. These are complemented with trees and shrubs, aiming to create a living environment which emphasizes the harmonies of nature.

Colourful flowers and a selection of greeneries were planted along the edges of the paths for a natural and rustic appearance. The contemporary landscape around the area was approached with a balanced blend of natural elements and simplicity of lines. Green space allocation was a priority during the design and planning process. The ‘Continuum Verde’ or continuos green concept was practiced to integrate the buildings and the gardens, creating a continuous network of linear walk and open space.

The dry landscape around the Show Village was designed using the ‘Beauty of Blank Space’ principle. The design balances the relationship between the flat plans of the ground, the volume of the stones, clipped shrubbery and trees, creating a sense of depth in the space. Rocks and stones, raked gravels and earth mound were carefully arranged to represent islands, seas and rivers.

Further to this, fragmented red bricks were used to draw the attention to the area of interest and to control the movement flow around the garden. The combinations of clean lines are also used to form patterns and designs.

“These elements blend the essence of modern living with natural surroundings, promoting restoration and conservation of the earth’s biodiversity. The landscaping designs that you see and experience here at our Show Village and Sales Gallery is what we plan to incorporate into the actual township,” Mr. Bruyns added.

Water Features Create Linearity and Cooling Sensation

The main entrance of the Southville City Sales Gallery features an Entrance Statement Island. Set against the borrowed view of the existing forest, the Entrance Statement Island forms the linearity of the landscaping. The infinity pool overlooking the luscious green backdrop was also added to connect the water into the green area, forming a unity between the two landscape features.

Further into the Show Village, a cluster of fountains was incorporated into the pond to further beautify the landscaping’s water feature and to create a cooling sensation for the surrounding environment. A pedestrian footpath-cum-bicycle track was also designed along the waterway, providing future Southville City’s residents a glimpse of the expected landscaping surrounding the 13-km pedestrian footpath-cum-bicycle track that connects the entire neighborhood.

Floral Selection Representing the Charms of Southville

The Phoenix Canariense, or commonly known as True Date Palms were imported from Dubai as the feature tree to craft a ubiquitous sight amidst the tropical backdrop. Ranging from 5-meter to 6-meter tall, the trees’ feather-like leaves lend an air of tropics to its surroundings, especially in the wafting wind.

Another noteworthy floral selection is the Bucida molineti variegated or commonly known as the Black Olive Tree. The plant was preferred for its unique growth of branches pointing skywards in symmetry. Set against the bright blue sky, this particular feature creates a soothing and pleasant outlook for the overall landscaping around the Southville City Show Village.

Further to this, a collection majestic bonsai plants aging 30-60 years were also included as part of the extensive landscaping. A bonsai plant represents the idea of harmony and peace as many believe it is a simple way to connect with nature and to find a sense of balance. When displayed in a clear area against the sky, the bonsai provides an air of contemplation to the viewers.

A varied selection of cactus is also chosen for their beauty and its ability to adapt to Malaysia’s hot climate. The cactus is a drought tolerant succulent plant which is not only resilient but practical as well.

Drawing Creativity and Innovation from Local Art

The path leading into the garden at the Southville City’s Show Village and Sale Gallery is further beautified with a series of wall painting christened the ‘Cat Story’. This concept was inspired by the ‘Street Art’ in George Town, Penang which is fast becoming a popular way of interpreting a local story on a wall as a memorable moniker to the residents.

“The ‘Cat Story’ emphasizes Mah Sing’s commitment in providing future residents of Southville City@KL South with a premier lifestyle complemented by creative designs and innovative facilities and amenities. The development concept of Southville City@KL South is “connectivity”, which forms the framework for an exciting communal living environment. By providing a self-sustained township which are away from the hustle and bustle, yet is near to the city centre, we are meeting the lifestyle needs of market demand,” said Mr. Bruyns.

Southville City@KL South

The 428-acre Southville City@KL South is a master planned development, offering a premium lifestyle away from the hustle and bustle, yet is near to the city centre, easily accessible with 6 major highways. The approved direct interchange from the North-South Highway makes it even more convenient with only 30-minute drive away from KL City Centre.

The SUPERCITY lifestyle development emphasize on cleanliness, beautification, security, orderliness and wellbeing. Modern homes and themed shop-offices are built amidst exquisitely landscaped and natural greenery with a 13-km pedestrian footpath-cum-bicycle track that connects the entire neighborhood, there is a riverside walk, nature trail and a 9-acre urban park. Besides that, there are more than 5 golf courses easily within reach. It is also an ideal place to fulfill educational needs of all ages as it is surrounded by over 20 educational facilities from primary to secondary and from colleges to universities.

The iconic township received a high level of interest where more than 1,000 units of Savanna Executive Suites, the first phase of Southville City were pre-selected within 8 hours last September. Currently, the project enjoys a strong take up of approximately 80% for the first 4 blocks in the first phase. In view of the keen interest, Mah Sing will be opening more blocks for pre-selection. Later phases will include properties for the upgrader market like super link homes, linked semi-ds, semi-detached homes and bungalows complemented by lifestyle retail shops.

Activities at Southville City Show Village and Sales Gallery

The Grand Opening of Southville City@KL South on 30 November was celebrated with performances by internationally-acclaimed artistes and performers such as Yuna, renowned Malaysia born singer and US recording artist, Nicole Lai, 2012 Astro Star Quest winner and Elecoldxhot, Bronze Medalist at the World Hip Hop Dance Championship. The public was also treated to a two-month long carnival, complementary of Mah Sing Group Berhad.

As the gold sponsor and official lifestyle developer for the 17th Miss Tourism International 2013 World Final, Mah Sing hosted 60 international beauties at the Mah Sing Foundation Christmas Charity Night on 19 December 2013. During the event, Mah Sing Foundation disbursed a total of RM400,000 towards the development of an assembly hall at SJKC Pin Hwa 2 and assisting the communities affected by the floods on the East Coast of Malaysia.

A photography competition was also recently held to further feature extensive landscaping works around the Show Village and Sales Gallery, as the activities that was hosted at the site. Participants of the competition featured façade of the Garden Link Homes, interiors of all showrooms and the ongoing fun fair as subjects of their photographs.

The upcoming Chinese New Year will be celebrated on 15 February 2014 at Southville City@KL South with special appearances from the God of Prosperity, Acrobatic Lion Dance, the 8 Lion Blessing performances and many more.

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Posted Date: January 03, 2014 12:00 AM, By:
Mah Sing Group Berhad Remain CIMB's Top Pick

Kuala Lumpur: Mah Sing Group Berhad (Mah Sing) remains CIMB’s top pick for the property development and investment sector, which is rated as overweight by CIMB’s research analyst, Terence Wong.

In CIMB’s research note, it was mentioned that Budget 2014’s measures to curb property speculation slowed down property buying but expects Malaysians’ buying appetite to return in the 1H14 on the back of robust residential demand and supply dynamics and concerns over inflationary pressures of the GST. Recent weakness in property stocks will provide investors with good entry points and opportunity to accumulate. 

PROPERTY SECTOR MAINTAINS EDGE
The property sector was one of the best performing sectors in 2013, despite share-price pullbacks in August, along with the broader market’s performance amidst Fed-tapering concerns and further pullbacks Post Budget 2014 in October. Earlier in the year, property developers with exposure to Iskandar Malaysia were in vogue following strong newsflow. Meanwhile a significant portion of gains were given up in 4Q, the KL Property Index ended the year with a firm 23%. 

POLICY SHIFTS
The strong appreciation of house prices in recent years, has seen calls for Government action against speculation. The Government answered in July, when the Central Bank capped the maximum housing loan tenure to 35 years from 45 years and in October, the Ministry of Finance raised the real property gains tax and abolished the developers interest bearing scheme (DIBS). The minimum price for foreign ownership increased from RM500k to RM 1 million.

REAL SECTOR SUSTAINS DEMAND
The macro prudential and policy measures meant to curb speculation and not restrain genuine demand will have an impact (though negative in the short term, should be positive over the long run as it will remove certain segments from the market. Buying interest will progressively return in 1H14 as potential buyers will come to realise that property [prices are unlikely to fall and inflationary pressures from the implementation of the GST in Apr 15 will boost property prices further. Also, affordability remains close to its highest ever. Robust sales by developers should provide impetus for a re-rating of property stocks.


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Posted Date: December 30, 2013 12:00 AM, By:
Iskandar Malaysia's Real Estate Sector Likened To 'Bee Buzzed Honey'

JOHOR BAHARU: Iskandar Malaysia's real estate sector has been likened to "bee buzzed honey", following the hive of activity in terms of projects within it.

Gadang Holdings Bhd Managing Director and Chief Executive Officer Tan Sri Kok Onn said the special southern region development corridor was now the second most important growth area in the country after Kuala Lumpur.

"Johor Baharu and Iskandar Malaysia are now likened to sugar or "bee buzzed honey", with companies from both within and outside the country, racing to enter the real estate market in it," he added.

He was speaking after the launch of the Capital City integrated development project with a gross development value (GDV) of RM2.2 billion here recently.

The latest property development in Iskandar Malaysia and involving hotel blocks and residences as well as a shopping centre, Capital City is a joint venture between Kumpulan Gadang, Hatten Group Sdn Bhd and Sunbuild Development Sdn Bhd.

According to Kok Onn, although the oil and gas development project at Pengerang was located outside Iskandar Malaysia, he was confident the latter would benefit from it.

Since its launch at the end of 2006 and to date, Iskandar Malaysia with an area of 2,217 sq km or twice the size of Singapore, has succeeded in attracting investments of about RM130 billion from both within and outside the country.

Among the sectors to have received the most number of investments is real estate.

Kok Onn said due to the active real estate development in Iskandar Malaysia, the value of land in the area has also spiralled.

But this has not stopped real estate companies from buying up land to undertake their development projects.

Recently, local developer Mah Sing Group Bhd purchased 540 hectares at Pasir Gudang for RM429 million, to undertake its latest project with a GDV of RM5 billion.

A China-based company, R&F Properties Co Ltd also invested RM4.5 billion to buy up six plots of land in Johor Baharu for a development project.

- BERNAMA

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Posted Date: December 20, 2013 12:00 AM, By:
Mah Sing Disburses Aid, Hosts Christmas Cocktail with Miss Tourism International 2013/2104 Delegates
Mah Sing Group Berhad’s charity arm, Mah Sing Foundation, disbursed a grand total of RM400,000 during its Christmas Charity Cocktail held at Southville City, KL South’s newly opened sales gallery and show village.

Echoing their earlier move of contributing RM100,000 to the Philippine Red Cross in aid of the survivors of Typhoon Haiyan, a total of RM300,000 was contributed in aid of communities affected by the floods in Malaysia’s East Coast via:

a)    RM200,000 via the Sultan Ahmad Shah Environment Trust: Misi Bantuan Kemanusiaan Banjir Negeri Pahang Darul Makmur
b)    RM100,000 via Mercy Malaysia

RM100,000 was contributed to SJKC Pin Hwa 2, Aman Perdana for the building of the school’s assembly hall. Pin Hwa is located in Aman Perdana, the first township that Mah Sing built in Klang Valley. Helping the school raise funds shows Mah Sing’s commitment to the communities that it touches, even after completing their development.

“We truly believe that ‘charity begins at home’ and this Christmas Charity Night celebrated the spirit of giving as part of our year-long corporate social responsibility initiatives for the benefit of local communities affected by the flood in the East Coast via Mercy Malaysia and a local Chinese school, SJKC Pin Hwa 2, in Mah Sing’s township of Aman Perdana,” said Datuk Syed Norulzaman, Chairman of Mah Sing Foundation.

Celebrations at the Nation’s Largest Show Village & Sales Gallery

The event took place at Malaysia’s largest show village and sales gallery which covers 20 acres of lush landscaping which includes mature imported palms, tiers of greenery and shrubs as well as a lake garden. It is a sample of the lush landscaping denizens of Southville City@KL South will enjoy and the commitment Mah Sing has in providing greenscapes throughout the development for the comfort of all who pass through its gates.

The event coincided with a recently-completed photography competition which saw 15 finalists battling it out for prize money and the title of being the best in three categories: landscape, evening scene and interior design. The Show Village and Sales Gallery had such remarkable landscape that the competitors came up with photos of the façade of the Garden Link Homes, interiors of all showrooms and the ongoing funfair which will be open until 14th January 2014, as subjects.

“We have invested in the landscaping of the Southville City@KL South Show Village and Sales Gallery as we believe it is representative of our efforts in greening Southville City in the near future. The largest township in Greater Kuala Lumpur also deserves the largest show village as a showpiece of the extent of the township.”

“In fact, when we planned the landscaping, we wanted to have mature gardens that could even be considered by couples for their wedding photo shoots. By meeting this need, we are also telling the emerging middle-class that there is an affordable housing solution in the guise of our Savanna Executive Suites, the serviced apartments forming the first phase of Southville City,” explained Tan Sri Dato’ Sri Leong Hoy Kum, Group Managing Director and Chief Executive of Mah Sing Group Berhad.

Private Cocktail Event A Raving Success

The arrival of guests for the exclusive cocktail event heralded the beginning of Mah Sing Foundation’s Christmas Charity Night. Those in attendance had indicated their interest in the national souvenirs brought by each beauty queen from her country of origin, and the winning bidders were called up to receive their items from the respective beauty queen. The delegate with the highest bid was revealed to be Miss Tourism Korea Noh Kyung Min who walked away with the subsidiary title of Miss Charity Queen.

The private event saw the attendance of more than 300 business associates and M Club members (Mah Sing’s loyalty programme) as well as members of the media. In addition to the Charity Auction, there was a fashion show and a special talent show by six delegates.

Mah Sing Foundation, meanwhile, capped off a successful year of fundraising and disbursement, which in addition to this Charity Auction had held the ‘Share A Smile’ Fundraising Dinner, which raised a grand total of RM3 million and disbursed RM455,000 to 14 charities in the same evening.

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Posted Date: December 05, 2013 12:00 AM, By:
Mah Sing Unveils Malaysia’s Biggest Show Village and Sales Gallery


Mah Sing Group Berhad (Mah Sing) on 30 November opened its biggest carnival yet by unveiling its Southville City Show Village and Sales Gallery in Bangi. This Show Village and Sales Gallery is the biggest one by Mah Sing and is also the biggest show village and sales gallery in the country. The remarkable launch is aimed at introducing the new integrated township to meet the strong mass market demand for properties.

Come Discover Southville City@KL South

The launch saw Mah Sing holding a township tour via buggies and electric bicycles for visitors to enjoy the lush landscape and scenic greenery. Present to launch the event was Mah Sing’s Chairman, Jen. Tan Sri Yaacob bin Mat Zain (R), Group Managing Director and Chief Executive, Tan Sri Dato’ Sri Leong Hoy Kum and the group’s senior management team.

The official ribbon cutting ceremony for the launch was made even more exciting with the kick-start of the 2-month-long free carnival themed ‘Discovery Extravaganza’. The carnival aims to provide a good family experience for members of the public whilst giving them the opportunity to have a glimpse of the well-planned integrated township.

“Unlike any other in KL South, Southville City presents you with a unique opportunity to enjoy the SUPERCITY lifestyle experience. With a wide range of fabulous facilities for securities, amenities, recreation and easy accessibility, Southville City will provide the middle-income group with the dream home at a competitive price,” said Tan Sri Dato’ Sri Leong Hoy Kum in a press conference after the opening ceremony.

The 428-acre Southville City@KL South is a master-planned development that is thoughtfully designed with a special touch of class and distinction. The township offers a premium lifestyle away from the hustle and bustle yet is near the city centre, being easily accessible with six major highways. Moreover, with the approved direct interchange from the North-South Highway, it is only a 30-minute drive away from KL City Centre.

The SUPERCITY lifestyle development emphasises cleanliness, beautification, security, orderliness and wellbeing. Modern homes and themed shop-offices are built amidst exquisitely landscaped and natural greenery. Aside from a 13km pedestrian footpath-and-bicycle track that connects the entire neighbourhood, there is also a riverside walk, nature trail and a 9-acre urban park. Additionally, there are more than five golf courses located a short distance away. It is also an ideal place to fulfil the educational needs of all ages as it is surrounded by over 20 educational facilities from primary to secondary schools and from colleges to universities.

In fact, the iconic township received a high level of interest with more than 1,000 units of Savanna Executive Suites, the first phase of Southville City being pre-selected within eight hours last September. Currently, Mah Sing has seen strong take up rates of approximately 80% for the first four blocks of the first phase. In light of the keen interest shown by the public, the company is opening more blocks for pre-selection. Later phases will have properties for the upgrader market such as superlink homes, linked Semi-Ds, semi-detached homes and bungalows complemented by lifestyle retail shops.

Fun Day Out for the Whole Family

The day-long opening saw a 1,500-strong crowd revelling in a fun-filled day out while discovering the exclusive community’s facilities. The 20-acre Southville City Show Village and Sales Gallery is the biggest show village and sales gallery in the country which offers visitors an extensive preview of the lifestyle and recreational needs the development offers to its future residents.

According to Tan Sri Dato’ Sri Leong Hoy Kum, “The development concept of Southville City@KL South is ‘connectivity’, which forms the framework for an exciting communal living environment. By providing people with a self-sustained township which is away from the hustle and bustle yet is near the city centre, we are meeting the current lifestyle needs and market demand. Today, we are honoured to organise the ‘Discovery Extravaganza’; we want everyone to have a fun-filled day out while browsing one of our iconic townships in Greater Kuala Lumpur.”

Right from the start, guests collected their food and activities vouchers at the Southville City Show Village and young visitors were given balloons to take home. From there, both young and old began queuing up at various stations where the enjoyed things such as rides on a Segway, air brush tattoos, sand art, hand wax, electric bicycles, a haunted house and face-painting.

Guests who were present with their families were also treated to a fun fair with thrilling rides such as UFO Thrills, Airplane Ride, Paratrooper, Ferris Wheel and many more. Apart from the fun fair’s thrilling rides, there were various street acts as well beginning as early as 3pm until the sun went down. Visitors experienced the carnival atmosphere with a series of performances such as a carnival dance, stilt walkers, fire eaters and sky dancers. There were also curb-side food stalls where free food and drinks could be redeemed.

Headlining Acts at Mini Concert – Yuna, Elecoldxhot & Nicole Lai

At night, Mah Sing brought together celebrities and internationally-acclaimed artistes and performers from a variety of art forms ranging from singers to street dancers. They were Yuna, renowned Malaysian-born singer and US recording artist, Nicole Lai, 2012 Astro Star Quest winner and Elecoldxhot, Bronze Medalist at the World Hip Hop Dance Championship. Members of the public were able to experience an explosion of music and arts brought to them by Malaysia’s very best entertainment ambassadors.

The events of the day indeed ended with a bang when the stunning fireworks show was presented.

Near Two-month-long Free Carnival

Dubbed the largest free carnival to ever grace KL South, the Discovery Extravaganza will take over the vicinity of Southville City’s entire Sales Gallery starting from 30 November 2013 until 14 January 2014 with an estimated crowd of 50,000 people expected to converge there over the near two-month-long year-end holiday season.

Furthermore, Mah Sing will be organising a photography workshop in early December. Photography enthusiasts are encouraged to capture the unique features of Southville City and stand the chance to win exciting prizes as well as have their works exhibited at Southville City Show Village.

As the gold sponsor and official lifestyle developer for the 17th Miss Tourism International 2013 World Final, Mah Sing will also be hosting a charity auction where 60 international beauties will be auctioning an item that they brought from their home country on 19 December during their visit to Southville City.

Come and discover Southville City’s Discovery Extravaganza at Mah Sing’s Show Village and Sales Gallery which is open daily from 10am to 9pm starting from 30 November 2013 until 14 January 2014. The carnival will be open from 7pm to midnight on weekdays and 11am to 11pm on weekends.

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Posted Date: November 28, 2013 12:00 AM, By:
Fun for the whole family this Saturday!

Mah Sing Group Berhad (Mah Sing) will be unveiling its Southville City Show Village and Sales Gallery in Bangi this Saturday (30th November) to introduce their new integrated township to meet the strong mass market demand for properties.

COME DISCOVER SOUTHVILLE CITY@KL SOUTH!

There will be fun fair with thrilling rides and sideshow consisting of carnival dances, fire eaters, stilt walkers and other exciting activities. There will also be curb-side food stalls and games such as sand art, face painting and electric bicycle.

An explosive mini concert will see celebrities and international-acclaimed artists and award winning street dancers wow spectators with their amazing talents. Come and experience an explosion of music and arts by Yuna, Nicole Lai and Elecoldxhot.

ALL ACTIVITIES AT THE CARNIVAL AND PUBLIC ADMISSION IS FREE!

All you need to do is to collect your food and activities voucher at the Southville City Show Village upon registration.

For more information and updates, visit https://m.facebook.com/mahsing or call +603-8938 277/81 and start discovering all that Southville has to offer now.

Details of the event are as follows:

Event:

Southville City Discovery Extravaganza

Date:

30th November 2013 (Saturday)

3:00pm-10:00pm

Venue:

Southville City Show Village & Sales Gallery, Bangi

Admission:

FREE

Parking:

1.      Tapak Parkir LHDN Bangi

2.      Nouvelle Hotel Open Carpark

3.      Wisma Mah Sing

FREE shuttle transfer to  the Show Village and Sales Gallery



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Posted Date: November 20, 2013 12:00 AM, By:
Mah Sing Appreciates New Residents at Aspen Lifestyle Celebration Weekend

CYBERJAYA, 16 NOVEMBER: Premier Lifestyle Developer, Mah Sing Group Berhad (Mah Sing), lived up to its top billing when it kicked off its month-long campaign of Aspen Lifestyle Celebration this weekend. Honouring the support of its buyers, the new residents of Aspen@Garden Residence were feted with an appreciation event at the Aspen Show Gallery, which features a collection of exhibitions and talks, beginning with Mah Sing’s own one-stop professional solutions provider, M Care. 

M Care is Mah Sing’s answer to a holistic property ownership experience and provides new owners of a Mah Sing property consultation on professional services. The range of services begin with pre-sales services of mortgage consultation, legal services and updating of owners’ accounts, through property inspection before handing over, all the way to after sales services of property management, including consultations on leasing and sub-sales, relocation and renovation, right down to concierge and butler services. 

VIPs at Aspen Lifestyle Celebration (L-R) Dato' Kayoom, Dato' Lim Kiu Hock, Mr Teh Heng Chong, Datuk Wira Jalilah Baba, Datin Terry Kayoom and Chef Wan

“When Mah Sing developed Garden Residence, we included a range of lifestyle amenities following a Green Axis Concept. This concept provides for green parks and boulevards such as Aspen@Garden Residence’s Central Park, along with thematic gardens and streetscapes, jogging track and running trails throughout the township and cascading water features, which welcomes you at the grand entrance statement and within the throughout the phase. In addition, the 50-acre green lung, promotes your wellbeing,” said Mah Sing’s Executive Director of Operations, Dato’ Lim Kiu Hock, in his official speech of thanks. 

Also present at the auspicious event was Mah Sing’s Chief Operations Officer (COO), High-End Residential, Mr Teh Heng Chong and Aspen@Cyberjaya’s brand ambassador, celebrity chef, Chef Redzuawan Ismail, or mor famously known as Chef Wan. 

LIVING LUXURIOUSLY@ASPEN

In light of Aspen@Garden Residence’s new standard of living in Cyberjaya, all 69 limited edition 3 ½ -storey bungalows come with 9+1 bedrooms and 9 baths. The open plan interiors are spread throughout a generous built-up of 7,796 sq ft and built on a plinth area of 60’ x 90’. Residents are provided a luxurious dedicated entertainment floor with rooftop garden and outdoor Jacuzzi. It is no wonder that Aspen@Garden Residence was named the “Most Iconic Cyberjaya Development 2013” at The Malaysian Reserve Property Press Awards held just recently.

The ease of amenities does not end there as The Clubhouse@Garden Residence extends the lifestyle amenities of swimming and wading pools, gymnasium, multi-purpose hall, dance studio, futsal and badminton courts, convenience stores as well as dining options including al fresco dining and a cafeteria. The Promenade@Garden Residence also offers up a range of lifestyle facilities to meet the daily needs of the residents. 

Venturing out of the township, one will find tremendous connectivity to KL City Centre and other parts of Greater Klang Valley with highways such as the Maju Expressway (MEX) with only 20 minutes driving time to KL City Centre, North-South Central Link (ELITE) which is 20 minutes to KLIA and 25minutes to Petaling Jaya and the Damansara-Puchong Expressway (LDP), which is 10 minutes to Puchong.

CELEBRATING A PREMIER LIFESTYLE

Hosted by celebrity host and emcee, Belinda Chee, this weekend’s Lifestyle Celebration, regaled attendees with a wealth creation talk by Visiber, a numerology expert and indoor aquarium specialist, Aquatic Indoor Aquarium Design. Both Visiber and Aquatic Indoor Aquarium Design also participated in the exhibition, which saw bespoke furniture specialist, Cellini Furniture. 

The group of proud owners who turned up for the Appreciation event

In a flourish to local art, renowned visual artist, Dato’ Kayoom enthralled collectors and residents with his fine renditions of pieces which included oil paintings of portraits, landscapes and abstracts in the art exhibition held in tandem with the launch of Aspen Lifestyle Celebration. 

The month-long fiesta will see a host of entertaining events, talks, performances and carnival at the Aspen Show Gallery. The upcoming attractions are:

1. A Healthy Lifestyle@Aspen (23-24 November 2013) – This health seminar by experts also includes a health screening by the National Kidney Foundation (NKF). The premise of doing charity together sees a partnership between the NKF and Mah Sing for the public. There will also be a fitness sessions with fitness instructors for all ages to enjoy.

2. Garden Party@Aspen Bungalow (23 November 2013) – During the evening, a jazz ensemble will groove to smooth tunes that welcome all to a “House Warming Party”

3. House Party@Aspen Bungalow (30 November – 1 December 2013) – A host of modern and contemporary live bands and performers along with an art exhibition.

4. Family Carnival@Aspen’s Exclusive Central Park (7-8 December 2013) – a fun fiesta for all ages, the family carnival offers families a great time of entertainment while experiencing the Central Park’s amenities. 

Visiber consultants were on hand to provide numerology advice to the crowd

The main aim of the Aspen Lifestyle Celebration is to discover the joys of living in a gated and guarded residential enclave. Slated for completion in the first quarter of 2014, interested purchasers can own a ready to move in home by then. Those interested to find out more about Aspen@Garden Residence may contact +603-8873 1603/05 or log on to www.gardenresidence.com.my for more information.


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Posted Date: November 04, 2013 12:00 AM, By:
Mah Sing Previews Phase 2 of Meridin@Medini – Meridin SOVO & 2 Towers of Meridin Suites


Malaysia’s second largest property developer by sales value, Mah Sing Group Berhad, has successfully previewed Phase 2 of Meridin@Medini on 3 November 2013 at the Meridin@Medini Sales Gallery. The RM1.1 billion purpose-built development is located on 8.19 acres fronting Pesisiran Pantai JB-Nusajaya, the protocol road leading to Johor Bahru’s new administrative centre of Kota Iskandar.

The preview, which began at 11am and lasted until 5pm saw a full crowd of people discovering the components of the new phase which comprises a tower of Meridin SOVO (Small Office Versatile Office) and two towers of Meridin Suites, the hospitality component of Meridin@Medini.

“The Meridin Suites towers allow for a home away from home with its innovative concept. In fact, investor confidence is so strong for Meridin Suites that we are witnessing the signing of the Memorandum of Block Purchase with SwhengTee International and its founder, Dato’ Sri Gavin Tee in today’s preview,” explained Mah Sing’s Deputy Chief Operating Officer (Southern) Dr Chai Kow Sin.

Meridin Suites – A Sound Investment in the Future of Meridin

Out of the two blocks of Meridin Suites, Tower B will be underwritten by SwhengTee International, a real estate investment club that pools together property investors. The two blocks of Meridin Suites include studios, 1- and 2-bedroom suites with built-ups ranging from 318 sq ft – 885 sq ft and indicatively priced from RM309,000 to RM919,000.

In line with the underwriting by SwhengTee International, the developer, represented by DCOO (Southern) Dr Chai Kow Sin and wholly-owned subsidiary, Tropika Istimewa Development Sdn Bhd, signed the Memorandum of Block Purchase with SwhengTee International Sdn Bhd, represented by Founder Dato’ Sri Gavin Tee. The latter also gave an exclusive property talk entitled ‘Prime Properties in Iskandar Malaysia’ underlining the interest and unique position that Meridin@Medini is in for property investors and buyers present at the preview.

Meridin SOVO – Flexible Business Units

Meridin SOVO, which stands for Small Office Versatile Office, offers studios and SOVOs of 1-4 room configurations with built-up areas of 341 sq ft – 1,053 sq ft and is indicatively priced between RM282,000 and RM924,000. During the preview period early birds will benefit from a special promotional package.

Meridin@Medini – An Emerging Picture of Iskandar Real Estate

With the successful preview of Phase 2, the entire Meridin@Medini has been unveiled to the public. The retail component of Meridin Walk located on the podium of both Phase 1 and 2 acts as a bridge that brings the ease of community amenities and facilities through its bespoke range of services and products to all who live, work relax and rejuvenate in Meridin@Medini.

The strategic location of Meridin@Medini is just part of the picture of its success. The imaginative concept of allowing the components to leverage on each other’s strength is what makes the development in sync with the needs of the community of the future. To make living in Meridin@Medini a tad sweeter, Mah Sing’s M Care services offer property owners a one-stop solutions provider that provides professional consultation on legal, maintenance, property management and a whole host of other professional services after a Mah Sing property purchase.

Meridin@Medini is poised to benefit from its location just right next door to Legoland Malaysia which has drawn more than 1 million visitors since its opening in September 2012. In addition to this, Prime Minister Dato’ Seri Najib Tun Razak in his Budget 2014 speech reiterated the Government of Malaysia’s commitment to improve transportation infrastructure such as the High Speed Rail (HSR) and the Rapid Transit System Link (RTS) which will increase the appeal of Iskandar Malaysia as an investment destination. The HSR will cut travel times between Singapore and Kuala Lumpur down to 90 minutes and is due for completion by 2020. This complements the RTS, a MRT line in Johor Bahru that will join the Thompson Line in Singapore due for completion in 2019.

Investor sentiment in Iskandar Malaysia has been bullish since last year 2012, when Iskandar Malaysia reached its Tipping Point. This year, 2013, is part of the Banner Years, where the spill over effect of the catalytic developments will be felt. Iskandar Malaysia has attracted approximately RM119 billion in cumulative committed investments through as at the second quarter of 2013, of which 45% has been realised.

Post-Budget 2014

Dr Chai noted, “There have also been concerns about developers with exposure to Iskandar Malaysia as the region is perceived to have attracted a high proportion of foreign buyers, In fact, we have been active in the region since 2000 but mainly offer townships catering to the local market. Of our seven projects in the south, five are township projects (79.5% of Iskandar Malaysia (IM) GDV), one industrial project (6.8% of IM GDV) where most purchasers buy for their own use and one integrated project, namely Meridin@Medini (13.7% of IM GDV). As Meridin@Medini is in a special economic zone, there is no minimum price for international buyers. In fact, the project caters to end users and investors who invest in the long-term as the location is a prime one, being next to Legoland and also near Educity. Pricing for the products is also attractive.

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Posted Date: October 30, 2013 12:00 AM, By:
Mah Sing's Ambrosia@Kinrara 'Ultimate Upgrade' Campaign Kicked Off With Enthusiastic Support


The kick-off fiesta for Ambrosia@Kinrara Residence’s ‘Ultimate Upgrade’ Campaign organized by premier lifestyle developer Mah Sing Group Berhad (Mah Sing) was successfully launched. Held at Kinrara Residence in Puchong, the event saw over 3,000 guests present to support the Campaign.

The inaugural ‘Ultimate Upgrade Campaign’ which will be held from 26 October to 31 December 2013, brought together over 10 home and living furnishing providers, namely Fuji Home, Rowenta, Luzzone, Living Scape, Fizz Associate, Oriss, Lightcraft, Khind, Door Master and Inova Floor for home owners shopping convenience.

Speaking at the launch, James Bruyns, Chief Operating Officer, Township Residential for Mah Sing said, “The ‘Ultimate Upgrade’ Campaign provides a one-stop solution for home and living upgrades. The esteemed vendors who have joined us for this Campaign are wall décor, flooring and tiles, lighting, kitchen and bathroom specialists among many others. It is our hope that all visitors will have a field day finding the right partner in crafting their dream home.”

Rewarding Loyalty

Throughout Mah Sing’s Ambrosia@Kinrara Residence’s ‘Ultimate Upgrade’ Campaign, products will be offered to guests at a special promotion whilst Mah Sing’s M-Club members will receive an exclusive discount on top of the existing offers.

“The Campaign is also the perfect platform that showcases our efforts to live up to our motto of being a Premier Lifestyle Developer. We would not be here today without the support of our faithful Kinrara Residence owners and M-Club supporters. This is why we would also like to take this opportunity during the Campaign to thank you for your support with an exclusive discount on top of the existing offers,” Mr. Bruyns added.

Guests at the fiesta were also given the opportunity to win gifts such as cash vouchers and home appliances when they participate in the question and answer sessions. The first 10 buyers of an Ambrosia@Kinrara Residence home received a complimentary holiday package to Europe, sponsored by Mah Sing. Throughout the two-month Campaign, there will also be RM150,000 worth of home and living merchandise up for grabs!

To make shopping for home improvement products an enjoyable experience for the whole family, guests were treated to a host of fun-filled activities such as hot air balloon rides, giant inflatable balloons for kids and various other activities and games.

Introducing Kinrara Residence

Kinrara Residence sits on approximately 139 acres of prime land at Puchong Bandar Kinrara. Conveniently accessible from Sunway, Subang Jaya, Petaling Jaya, Seri Kembangan, Cyberjaya, and Putrajaya, Mah Sing’s Kinrara Residence is also within close proximity to KL City Center.

A gated and guarded township, Kinrara Residence consists of super link homes, semi-detached homes and bungalows. Residents are also provided with an exclusive clubhouse, equipped with facilities such as a swimming pool, gymnasium and other communal facilities to encourage a healthy lifestyle. Additionally, situated next to the development is the 3,084-acre Ayer Hitam Forest Reserve, providing residents with the tranquility of Mother Nature.

Ambrosia@Kinrara Residence

The fourth and final phase of the township, Ambrosia@Kinrara Residence sits on approximately 27.54 acres of land. The abodes at Ambrosia are designed with charming dimensions to further promote a community living concept. Each living space were thoughtfully crafted with the 5 basic elements of Fire, Earth, Metal, Water and Wood, creating a living environment that is harmonious in every way.

Ambrosia consists of 66 units of 3-storey Superior Semi-Detached Bungalows with a built up area of 4,468 sq ft priced from RM2,438,800; and 79 units of 3-Storey Executive Bungalows with built up areas from 5,688 onwards with prices starting from RM3,288,800.

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Posted Date: October 29, 2013 12:00 AM, By:
Mah Sing Launches D'Sara Sentral Show Gallery, Previews D'Sara Residenz


Premier lifestyle developer Mah Sing Group Berhad (Mah Sing) officially opened the D’Sara Sentral Show Gallery@Star Avenue on 26-27 October 2013 with approximately 2,100 people present to celebrate this auspicious occasion. Officiated by Mah Sing’s Executive Director of Operations, Dato’ Lim Kiu Hock and COO (Commercial Properties) Mr. Andy Chua, the Show Gallery features the show units of D’SoVo Suites Type A with a built-up of 504 sq ft and D’sara Residenz’ Type A and Type B. Type A is a 2-bedroom unit with a built up of 809 sq ft, while Type B is a 3-bedroom unit with a built up of 1,018 sq ft. The third type, Type C, has built-up of 1,136 sq ft.

“D’Sara Sentral is a fully-integrated commercial centre that is connected via a covered sky walkway to the Kg Baru Sungai Buloh MRT station diagonally opposite this 6.55 acre site. The synergy of D’SoVo  Suites, which is suited to be an office or home-office; D’Style Shops, which is situated on the retail podium block and islands and D’sara Residenz, which are the serviced apartments, allow occupants to live, work, play and relax in the same place,” explained Dato’ Lim Kiu Hock to reporters at the press conference.

While the three types of D’Sovo Suites and the single- and double-storey D’Style Shops were previewed last month, the public had their first glimpse of the D’sara Residenz serviced apartments this weekend itself. There had been strong interest in the serviced apartments with registrants of interested topping 9,420 by October 21,2013. The preview of D’sara Residenz also marks the beginning of registration for balloting for this component.

Fun-filled Weekend for All Ages

Hosted by MY FM DY, Gan Mei Yan, the official launch of D’Sara Sentral Show Gallery@Star Avenue kicked off with an auspicious lion dance followed by opening dance and the first round of lucky draw. There were three rounds of lucky draws which saw close to 25 lucky winners walking away with household electrical appliances. Meanwhile, the carnival atmosphere was made complete with live performances and dances, street magicians and clowns and booths for either carnival games or food. Gates opened at 9am till 6pm for the entire weekend.

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Posted Date: October 24, 2013 12:00 AM, By:
Mah Sing Sole Developer To Win Malaysia GreenTech Developer Award 2013


Premier Lifestyle Developer Mah Sing Group Berhad (Mah Sing) was the named the sole recipient of Malaysia GreenTech Developer Award 2013 at this year’s installment of the Malaysia GreenTech Awards (MGA) 2013 at a hotel in the capital recently. Deputy Prime Minister, Tan Sri Muhyiddin Yassin, and Minister of Energy, Green Technology and Water, Datuk Seri Panglima Dr. Maximus Ongkili, were on hand to present the awards.

Recognising Efforts of Developers

The MGA is organized by the Malaysian Green Technology Corporation (GreenTech Malaysia) to honour Malaysian-based developers, industries, financial institutions, secondary schools and media that have continually pushed the nation’s green agenda forward. It is supported and endorsed by the Ministry of Energy, Green Technology and Water (KeTTHA) and supported by REHDA, FMM, SIRIM, CETREE and MPI. There are 16 categories of competition in total with five focused on the Developer’s sector alone.

This year, Mah Sing is the only developer recognized as having met and exceeded the mark where building sustainably and maintaining a focus on the green agenda is concerned. As a fully-integrated developer, Mah Sing’s repertoire of landed and high-rise residential, integrated commercial centres and boutique industrial properties allowed the Group to be recognised for building green features into its developments.

Among some of the criteria that set Mah Sing apart was its urban development features that contributed to better, healthier lifestyles as well as its application of environmentally friendly facilities in its townships. Some of their commercial properties’ innovative use of materials, systems and processes to support the green agenda also put Mah Sing ahead of the fray. The nod of approval from the Government, public and private sector showcases Mah Sing’s versatility and ability to protect the environment and yet build sustainable cities of the future.

Other winners of this year’s MGA in the other categories included financial institution giants, Maybank and Malaysian Debt Ventures (MDV), established media houses, The Star and Bernama, and six schools throughout the nation.

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Posted Date: October 22, 2013 12:00 AM, By:
Join the Fiesta with Mah Sing's Ambrosia@Kinrara 'Ultimate Upgrade' Campaign


Premier Lifestyle Developer, Mah Sing Group Berhad’s (Mah Sing) Ambrosia@Kinrara Residence will host an exclusive two-month “Ultimate Upgrade” Campaign, from 26 October to 31 December 2013, which will bring together different types of home and living products to home owners. To kick start the Campaign, a two-day fiesta will be held from 26 to 27 October 2013 where the first 10 buyers of an Ambrosia@Kinrara Residence home will receive a complimentary holiday package to Europe. Additionally, the first 2,000 guests at the event will stand a chance to win lucky draw gifts. Doors will open from 10am till 7pm to the public daily during the Campaign.

The first-of-its-kind “Ultimate Upgrade” Campaign by Mah Sing will see the participation of over 15 home and living furnishing providers, such as Fujihomes, Oriss, Lightcraft, and Inovar Floor. While all guests can look forward to a special promotion on products offered, Kinrara Residence home owners as well as Mah Sing’s M-club members will also receive an exclusive discount on top of the existing offers. There will also be RM150,000 worth of home and living merchandise up for grabs throughout the Campaign!

To make shopping for home improvement products an enjoyable experience for the whole family, guests can look forward to a host of fun-filled activities such as hot air balloon rides, giant inflatable balloons for kids and various other activities and games.

Introducing Kinrara Residence

Kinrara Residence sits on approximately 139 acres of prime land at Puchong Bandar Kinrara. A gated and guarded township, Kinrara Residence consists of super link homes, semi-detached homes and bungalows. Residents are also provided with an exclusive clubhouse, equipped with facilities such as a swimming pool, gymnasium and other communal facilities to encourage a healthy lifestyle. Additionally, situated next to the development is the 3,084-acre Ayer Hitam Forest Reserve, providing residents with the tranquility of Mother Nature.

The fourth and final phase of the township, Ambrosia@Kinrara Residence consists of 66 units of 3-storey Superior Semi-Detached Bungalows with a built up area of 4,468 sq ft priced from RM2,438,800; and 79 units of 3-Storey Executive Bungalows with built up areas from 5,688 onwards with prices starting from RM3,288,800.

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Posted Date: September 23, 2013 12:00 AM, By:
Ferringhi Residence's Lifestyle Show Village Launch Well Received, New Blocks of Precinct 1 Opened


Premier lifestyle developer Mah Sing Group Berhad kicked off the launch of its Lifestyle Show Village of Ferringhi Residence over an exciting weekend that saw 1,200 turn up for the event. The Show Village, which showcased semi-furnished and fully furnished units of Type B1, the 1,510 sq ft Ground Floor unit, also saw new blocks opened to the public in conjunction with the launch. Ferringhi Residence’s six articulated themes, namely, Flying Carpet, Eco Street, Water Lounges, Paddy Terrace, Infinity Pool and Scent Trail, were also introduced by projection mapping, detailing the development’s unique proposition.

The low-density project, houses only 10 units within a 5-storey Condo Villa block, which translates to only 2 units per floor. Take-ups for the 3+1 bedroom Condo Villas in Precinct 1 have been very encouraging, with Precinct 1A fully taken up since December 2012 whilst Precinct 1B and 1C enjoyed take ups of 58% and 78% since January 2013 and February 2013 respectively. The launch also saw a special promotion package offered only during the weekend.

An Auspicious Beginning

Mah Sing Group’s COO, Adam Leow, launched the Lifestyle Show Village along with Teh Heng Chong, COO for High-End Residential and Woo Kok Weng, General Manager, Northern Region with a flourish of a digital pen on iPad. This was followed by a dance performance that culminated in the VVIPs placing their handprints on canvas as a visual symbol of the day’s launch. The auspicious 8-lion dance troupe then took over and handed prosperity wishes to the senior management team of Mah Sing Group.

“Today’s launch is possible thanks to the support of our buyers and future residents in this resort lifestyle enclave. It is our joy and privilege to usher residents to unparalleled luxurious living with direct access to Batu Ferringhi’s famed tourist belt, bringing international focus to the project. What more, the imaginative concept which adds to the community experience of the residents here,” said Adam Leow during the press conference held during the launch.

Key highlights of the day included an appearance by 8TV host, Baki Zainal, who mingled with the crowd, autographing pictures with them and street dance battles, dance performances and station games which entertained all ages and provided a fun day out for the family.

Ferringhi Residence Profile In Mah Sing’s Penang Projects

Ferringhi Residence is one out of 5 projects that Mah Sing has in Penang, with one of the projects already completed. Spread over 61-acres of freehold land, the RM826million project comprises of three precincts with Precinct 2 currently open for registration, following the success of Precinct 1’s Condo Villas. In addition to being a stone’s throw away from world-class resorts and hotels such as Parkroyal Hotel, Holiday Inn Resort, Lone Pine Hotel, Hard Rock Hotel and Rasa Sayang Resort & Spa, established international school, Uplands International School is diagonally across from Ferringhi Residence. Penang’s famous attractions are also nearby with Tanjung Bungah just 6km away while Gurney Drive and the UNESCO World Heritage City of George Town are 13km and 15km away, respectively.

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Posted Date: September 04, 2013 12:00 AM, By:
Mah Sing's M Residence@Rawang Officially Opens Clubhouse & Final Phase


Premier Lifestyle Developer, Mah Sing Group Berhad officially launched the final phase (Phase 4) of M Residence@Rawang in conjunction with the opening of the Residents’ Clubhouse today in a well-received Double Celebration. The day-long opening saw a 1,200-strong crowd reveling in a fun-filled day out while discovering the Clubhouse’s facilities such as a swimming and wading pool, a barbeque pit, a meeting room and it’s multi-purpose hall. The Clubhouse is a taste of how the developer has enhanced the lifestyles of residents, who will also benefit from landscaping, central parks and playgrounds in each phase.

Representing Mah Sing Group was COO, James Bruyns, who mentioned, “By providing the Residents’ Clubhouse, we are meeting the lifestyle needs of our residents. Every community needs space, space to grow, relax and discover recreational needs that define a healthy community. Today, we are honoured to have such a big crowd of future residents who have joined us to discover the pleasures of the Clubhouse. It is thanks to them, and to new buyers purchasing Phase 4’s 2-storey Super Link homes, that M Residence@Rawang has the potential to become a cohesive and impactful community in the north of Kuala Lumpur.”

He added that Phase 4 was the last chance for the public to own a Super Link home in M Residence@Rawang, as the next opportunity they had to own a Super Link home by Mah Sing would be in M Residence 2@Rawang, its’ sister township just 500m away. M Residence 2@Rawang has also seen tremendous interest as Alpine, it’s first phase of 2-storey Link homes, have only limited units of the last row of 20’ x 65’, 1,885 sq ft homes, priced from RM488,000 onwards, left. The second phase of 20’ x 65’ 2-storey link homes, named Birch, will be previewed by the third quarter (Q3) of 2013. These 1,872 sq ft homes are available in two types, B1 and B2, and are indicatively priced from RM500,000 onwards.

Premiering A Premier Lifestyle

The Clubhouse’s amenities will be opened to all residents of the four-phase, 226-acre freehold township. Meanwhile, the final phase (Phase 4) of the 22’ x 80’ 2-storey Super Link homes offers a generous build-up of 2,400 sq ft and priced affordably from RM688,800. In line with the launch, early birds were given a 5% discount with the developer absorbing a range of fees, including legal fees of the Sales and Purchase (SPA), Loan Agreement and Memorandum of Transfer (MOT) and excluding the loan disbursement.

At the end of the event, Phase 4 had seen a good 70% take-up rate of the entire first row that was launched. Those interested in owning these 2-storey Super Link homes will be glad to know that in addition to living their dream lifestyle on a freehold, spacious, gated and guarded property of their own, M Residence and M Residence 2@Rawang stand to benefit from added access to the LATAR expressway when the extension from Jalan Tasik Puteri is completed at the end of 2015. This will bring travelling times to KL in about 20 minutes, and is additional access from the main thoroughfare of Jalan Batu Arang to the townships.

In fact, Rawang’s bloom is largely due to the fact it is only a 20-30 minute drive from Kuala Lumpur and is well-connected by road and rail. The Rawang toll, a 28-km distance from both Kuala Lumpur’s Jalan Duta toll and Petaling Jaya’s Damansara toll is reachable within 20 minutes drive and KTM Rawang is the terminal station of KTM Komuter’s Rawang-Seremban route, now extended till Tanjung Malim. Rawang is also served by existing public transport of buses that ply the Kuala Lumpur-Rawang route such as RapidKL, Metrobus and SJ Buses.

It is not surprise that Mah Sing has in the last week just acquired a 96.7-acre parcel of land in Rawang earmarked for M Residence 3@Rawang, a gated & guarded township with estimated gross development value (GDV) of RM520million. There are plans for 2-storey link homes and semi-Ds in addition to amenities and facilities in the site that is 6.6km from the Rawang toll and 4.0km from Aeon Anggun Rawang, adjacent to the Saujana Rawang township. With the new township, Mah Sing’s presence in Rawang is a good 480 acres of township land worth approximately RM2.13billion in combined GDV.

Double Celebration: Fun for the Whole Family

Guests started streaming to the M Residence@Rawang Clubhouse as early as 10am, when doors opened and were warmly greeted by celebrity DJ Chui Ling. Right from the start, guest could take their family photos at the photo booth and young visitors were given an MResidence balloon to take home. From there, both young and old began queuing up at the Hand Wax station, where they could take home a souvenir in the shape of their own hand in wax; face painting and the penalty kick station as fun activities for all ages took place.

During the launch, the prosperous Eight Lion Dance took place at the main clubhouse and poolside and winded up handing the stage over to Mah Sing COO, James Bruyns, who also welcomed to the crowd before the K-Pop Extravaganza began.

After the launch, the entertainment continued with a multi-cultural dance performance, Answer and Win with Chui Ling, a comedy act with local comedian James Thor and a moon cake eating contest. The events of the day culminated in a Lucky Draw for those in attendance.

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Posted Date: August 28, 2013 12:00 AM, By:
Mah Sing Continues to Grow with Q2 Net Profit Up by 16.2%


Profit Up by 16.2% to RM69.8 Million

Mah Sing Group Berhad on 27 August declared its second quarter (Q2) results ended 30 June 2013 with a net profit of approximately RM69.8million on the back of revenue of approximately RM475.7million. Both showed year-on-year increase of 16.2% and 4.5% respectively from the approximately RM60.1million net profit and the approximately RM455.2million revenue charted in Q2 2012.

Year-to-date net profit was up by 16.1% at approximately RM139.3million, compared to the same period last year. Meanwhile, the net profit margin for the first half of the year under review was at 15% compared to the 13% done in the first half of the preceding year. Operating profit margins for the property segment also showed improvement from 20.1% to 22.2% year-to-date attributable to product mix and higher profit recognition on properties delivered to customers.

Sales of Approximately RM1.5 Billion & Unbilled Sales of RM3.9 Billion

Mah Sing achieved approximately RM1.5billion sales for the first half of 2013, and is on track to achieving its 2013’s full year sales target of RM3billion. Meanwhile, the Group’s unbilled sales of approximately RM3.9billion as at 30 June 2013, which is approximately 2.5 times the revenue recognized from the property development division in 2012, provides strong earning’s visibility going forward.

Strong Balance Sheet with Net Gearing of Only 0.22 Times

As at 30 June 2013, Mah Sing’s net gearing is only 0.22 times, comfortably below its internal target of 0.5 times. The Group’s cashpile of RM797.6million maintains its agility in land banking exercises, particularly as the Group announced today the acquisition of a new township land bank in Rawang.

Consistently Rewarding Shareholders with Generous Dividends Since 2006

The Group’s first and final dividend of 7.5sen (net) per ordinary share of RM0.50 each represents approximately 44% of its previous year’s net profit.  The dividend consist of 0.4sen per share less income tax of 25% and single-tier dividend of 7.2sen per share for the financial year ended 31 December 2012 will go ex-date on 5 September 2013 and payable on 20 September 2013.  Mah Sing has been paying dividends of at least 40% of their net profits to reward their loyal shareholders since for the past 7 years since 2006.

Increase In GDV to RM28 Billion with Acquisition of Rawang Land

The acquisition of the latest parcel of land in Rawang, which has an estimated gross development value (GDV) of RM520million, raises the Group’s remaining GDV and unbilled sales to approximately RM28billion. Mah Sing’s stable of projects gives it an earnings visibility of 7 to 8 years.

After the review of the full set of figures, Tan Sri Dato’ Sri Leong Hoy Kum, Mah Sing Group’s Managing Director cum Chief Executive said, “The first half of 2013 (1H 2013) has seen the Group performing well, especially after recording approximately RM1.5billion of sales year-to-date, the halfway mark of our full year sales target of RM3.0billion for 2013.

With a complete range of projects targeted for previews and launches, interested buyers are able to choose from township residential, high-rise residences, integrated commercial properties and purpose-built products in the second half of the year. The purchase of our latest Rawang township land is also timely, as it will be developed as M Residence 3@Rawang, replicating the success of our hugely successful townships of M Residence@Rawang and M Residence 2@Rawang.”

Expanding Presence In Rawang with M Residence 3@Rawang

Mah Sing today inked the acquisition of M Residence 3@Rawang, the Group’s third township in Rawang in just as many years. The approximately 96.7-acre prime land in Rawang was purchased for approximately RM68.7million or approximately RM16.30 per square foot (psf) to be developed into a gated and guarded township with an estimated gross development value (GDV) of RM520million. Preliminary plans for M Residence 3@Rawang include 2 storey link homes and 2 storey Semi-Ds with amenities and facilities within the township’s commercial components.

M Residence 3@Rawang is just 6.6km from the Rawang toll and a mere 4.0km from the Aeon Jusco on Jalan Batu Arang. In fact, just 500m from the Aeon Jusco is a right junction to Jalan Desa Utama. From there, it is approximately 3.5km to the township, which is adjacent to the Saujana Rawang township. Additional accessibility to the township is expected to be improved with a proposed new access road from the main thoroughfare of Jalan Batu Arang.

According to Tan Sri Dato’ Sri Leong Hoy Kum, “M Residence 3@Rawang will catch the spillover demand from our successful townships of M Residence and M Residence 2@Rawang, which were acquired in 2011 and 2012 respectively. Today, with M Residence 3@Rawang, we now have 480 acres of township land in Rawang worth approximately RM2.13billion in combined GDV.”

Rawang’s position in the northern corridor of Kuala Lumpur is strategic as it is only about 20-30 minutes drive from town with good connectivity by road and rail. In fact, the Rawang toll is only 28km from both Kuala Lumpur’s Jalan Duta toll and Petaling Jaya’s Damansara toll, which are reachable within an estimated 20 minute drive time. Meanwhile, KTM Rawang is the terminal station of the KTM Komuter’s Rawang-Seremban route, which has now been extended north as far as Tanjung Malim.

M Residence 3@Rawang is surrounded by mature neighbourhoods, which presents residents with easy access to established public amenities such as schools like SMK Taman Desa, SK Taman Desa and SK Taman Desa 2; and shopping complexes including AEON Bandar Anggun, TESCO hypermarket and Giant Rawang. Residents also benefit from existing public transport services of buses that ply the Kuala Lumpur-Rawang route such as RapidKL, Metrobus and SJ Buses.

The acquisition of M Residence 3@Rawang comes at a timely juncture for Mah Sing as M Residence@Rawang is reaching the tail-end for the sales of its properties. The final phase of 2-storey Super Link homes in Phase 4 is scheduled for a launch by 1 September 2013. These 22’ x 80’ Super Link Homes with built-up areas of 2,400 sq ft will be launched in conjunction with M Residence@Rawang’s Residents’ Private Clubhouse launch in a Double Celebration event. Earlier phases of Phase 1 and 2 had been launched in April 2012 and even Phase 3, launched in January 2013 reached 100% take-up rate by June 2013.

Meanwhile, Mah Sing’s other township of M Residence 2@Rawang has seen Alpine, the first phase of a three phase township, nearly sold out. Both types of the 2-storey Link Homes, A1 and A2 were previewed by April 2013. Just four months later, only limited units on the last row of the 20’ x 65’, 1,885 sq ft homes, currently priced from RM488,000 onwards, are left. Moving forward, M Residence 2@Rawang will start previewing Birch, its second phase of 20’x65’ 2-storey link homes in the third quarter (Q3) of 2013. The 1,872 sq ft homes will be available in two types B1 and B2 and are indicatively priced from RM500,000 onwards.

Previews & Launches In the Second Half of 2013 (2H 2013)

Among one of Malaysia’s elite of fully-integrated property developers, the Group is slated to offer high-rise serviced apartments, landed township developments and integrated commercial properties in the upcoming second half of the year. Currently, the Group has 45 projects in all four property hotspots of Malaysia, namely Greater Kuala Lumpur and the Klang Valley, Penang island, Johor Bahru/Iskandar Malaysia and Kota Kinabalu, Sabah, and there will be a preview or launch for each region in 2H2013.

Greater KL and Klang Valley
Southville City@KL South
The excitement brewing over Mah Sing’s largest township to date, the 425-acre Southville City@KL South is palpable, as the first phase of Savanna Executive Suites is headed for a preview come September 2013. The 3-bedroom suites from 956 sq ft is indicatively priced from RM280,000 and has by mid-August secured an excess of 18,000 registrants indicating their interest in the units. Southville City@KL South is the epitome of accessibility with its proposed direct interchange from the North-South Highway and only 30-minute drive away from KL City Centre.

Lakeville Residence
Lakeville Residence in Taman Wahyu, Kepong is also targeting a preview for its 2-storey and 3-storey shops by Q4 2013 following the registration of interest for the entire development that commenced in June. So far, there have been 3,000 registrants indicating their interest in the RM1.15 billion project. The shops will be the commercial component that serves the residential catchment of Lakeville Residence, which offers serviced residences with indicative built-ups from 950 sq ft, 1,200 sq ft and above. The residential component is indicatively priced from RM668,800 onwards and the entire 12.38-acre development is touted to be on one of the last sizeable development land within the northern reaches of KL City Centre.

D’sara Sentral
Of the five new lands purchased in 2013, D’sara Sentral, located diagonally across from the Kg Baru Sungai Buloh MRT station, is ready for a preview. The integrated commercial centre’s first phase of D’SoVo Suites which are Smart Office Versatile Office (SoVo) are to be previewed at SJK (C) Sungai Buloh’s school hall, a mere 1.1km away from the projects’ site, from 7 to 8 September 2013. The amount of interest shown by the public has been tremendous, with D’sara Sentral recording 9,950 registrants by August 2013, from May 2013, when registration of interest had begun.

Iskandar Malaysia
The Meridin@Medini
Over in Iskandar Malaysia, Mah Sing achieved a double Gallery launch within the same week, when it opened its Singapore Sales Gallery at Triple One Somerset on 15 July 2013 and The Meridin@Medini’s Property Gallery on site on 20 July 2013. The Singapore Sales Gallery will serve the needs of Singaporean buyers better through its rotation of Mah Sing’s projects featured and site visits that can be arranged for Mah Sing’s Iskandar Malaysia projects. The opening of The Meridin@Medini’s Property Gallery also saw the launch of the final tower of the development’s first phase, Tower B of Meridin Suites Residence. Following the launch, there will be a preview of Meridin Linx iSoVo, or Tower A, of Phase 2 in September 2013.

Penang Island
Ferringhi Residence
Up north in Penang island, Ferringhi Residence’s Show Village is targeted for a launch in September 2013 and this will also see the opening of the final three blocks of Precinct 1 Condo Villa, Ferringhi Residence’s first phase. The Show Village will feature a semi-furnished and fully-furnished unit of the 1,510 sq ft Ground Floor unit, which comes with its own garden space. The low-density Precinct 1 has seen a 70% take up rate since its launch in December 2012.

Loft@Southbay
Meanwhile, in Southbay City, the serviced apartments of Loft@Southbay are also set for an official launch in October 2013. The first tower, Tower A was previewed in July 2013, and unveiled six different layouts of the serviced residence from a built-up area 1,378 sq ft in a 3-bedroom layout priced from RM1.45million.

Kota Kinabalu, Sabah
Sutera Avenue
In Kota Kinabalu, Mah Sing’s maiden project of Sutera Avenue will see the preview of the serviced apartments on 28 August 2013, with a targeted launch of the Show Gallery in September 2013. This follows the establishment of the Kota Kinabalu Sales Office set up by Mah Sing in August last year. The warm reception for Sutera Avenue’s first component of 10-storeycommercial units, which had achieved 100% take-up rate, and currently, its 2-storey retail podium, which had charted 60% take-up, has paved the way for Mah Sing’s second endeavour in Kota Kinabalu with the acquisition of Kota Kinabalu Convention City.

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Posted Date: August 03, 2013 12:00 AM, By:
Kinrara Residence's New Owners Feted At A Pre-moving In Do


Premier lifestyle developer, Mah Sing Group Berhad, recently threw a pre-moving in celebration dinner in honour of the new owners of Palmiera’s 2-storey Semi Ds. Palmiera is the third phase in the 126-acre, four-phase township of Kinrara Residence, located in the emerging suburb of Bandar Kinrara, Puchong. There are 2 types to Palmiera, with the owners of the 3-storey Semi Ds, the other type in the third phase, in for a treat come September 2013. The first phase of the RM199million Kinrara Residence was completed in April 2012.

According to James Bruyns, COO of Mah Sing Group Berhad in charge of Kinrara Residence, “The support of Palmiera’s buyers is the cornerstone of the phase and township’s success. We would like to take this opportunity to thank them and celebrate this milestone with them. For many new owners, the only time they see the developers, the same people who build their dream homes, is only during the sales process and the handing over of keys. We want to provide an engaging experience by celebrating this important life event with them.”

Celebratory Mood, Celebrated Township

The dinner, held on Saturday, 20 July 2013 from 6-9pm at the Central Linear Park, Palmiera@Kinrara Residence, had a carnival-like theme that saw a 300-strong crowd of owners and their families. In the spirit of the ongoing Ramadan fasting month, the Buka Puasa feast commenced upon the official breaking of fast with plenty of carnival activities and games like inflatable darts, wax hands making and a digital Wheel of Fortune keeping the crowd occupied till then.

Upon the breaking of fast, residents were not the only ones eating as fire eaters began their performance while carnival costumed characters mingled with the crowd. The feast progressed with a live band whetting the appetite of the crowd for the main event, the lucky draw finale, which saw bicycles, kids scooter, hampers and electrical items given away.  

The true winners, however, were the new owners of the 2-storey Palmiera Semi-Ds, which stand on a 40’ x 80’ plots and offer built-ups of 3,138 sq ft. Even the layouts are generous, with 4+1 rooms and 5 baths that cater for truly spacious living or multi-generational families. The owners of the 3-storey Palmiera Semi-Ds, which enjoy greater built-up space of 4,118 sq ft, will be next in line for a welcoming party scheduled for some time in September.

Those looking to own an exclusive unit of Palmiera are in luck, as there are still limited units available, all with ready-to-move-in status. Palmiera homes offer multi-tiered security and sustainable building features within a gated and guarded enclave with clubhouse amenities. Priced from RM1.86 million onwards, there are a basket of privileges awaiting buyers, which includes legal fees for the Sales and Purchase Agreement (SPA) and Loan Agreement borne by the developer and a waiver on the first year’s maintenance fees.

Located right next to the 3,000-acre Ayer Hitam Forest Reserve, residents also benefit from the  Residents’ Clubhouse, which provides a comprehensive suite of amenities, including swimming and wading pools, a modern gymnasium, lounge, clubhouse café and convenience store, a multi-purpose hall and BBQ area. The Central Linear Park, where the dinner took place, is a 2-acre planned and landscaped area equipped with amenities that cater to all generations.

The warm welcome to Palmiera was also extended by Mah Sing’s M Care property support services, which provide professional consultation services relevant for new home owners. These include renovation and interior design consultations, relocation services and butler or concierge services for owner-occupied units. Meanwhile, those that need leasing and sub-sale services may also find M Care’s comprehensive list of service providers a real convenient way to manage or sell their properties.

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Posted Date: July 22, 2013 12:00 AM, By:
Mah Sing Launches The Meridin@Medini Property Gallery & Tower B Meridin Suites Residences


The launch of Mah Sing Group Berhad’s The Meridin@Medini Property Gallery also saw Tower B of the Meridin Suites Residences successfully launched. Officially launched by Mah Sing Group Managing Director and Chief Executive, Tan Sri Dato’ Sri Leong Hoy Kum and Yang Dipertua Majlis Perbandaran Johor Bahru Tengah, Tuan Haji Salehuddin Haji Hassan, the event was also witnessed by the Group’s senior management team.

Situated at No 3 Jalan Legoland, Bandar Medini, Nusajaya, The Meridin@Medini’s Property Gallery is next to Legoland Malaysia and stands on Phase 2 of the development. An encouraging turnout of close to 540 invited guests graced the formalities which included an official plaque signing, ribbon cutting ceremony and an auspicious 8 Lion Dance. Guests were then ushered into the gallery to view the actual show units of Type A (1 bedroom unit from 521 sq ft) and Type C (3 bedroom unit from 1,064 sq ft).

“The launch of The Meridin@Medini’s Property Gallery coincides with Tower B’s Meridin Suites Residences, which is the last chance to own a piece of The Meridin@Medini’s Phase 1. After this, we shall preview Meridin Linx iSoVo, or Tower A of Phase 2 in September 2013. This timely event benefits from the arrangement of site visits to Iskandar Malaysia from our new Singapore Sales Gallery launched on 15 June 2013, at Triple One Somerset,” said Tan Sri Dato’ Sri Leong Hoy Kum during the press briefing.
    
Next Phase of The Meridin@Medini Unveiled
The first tower of The Meridin@Medini’s Phase 2 comprises of the Meridin Linx iSovo, or Tower A, which have units with built-ups from approximately 450 sq ft onwards and are indicatively priced from RM298,000. With a Small Office Versatile Office concept, owners have the flexibility of turning the units into offices, homes or home-offices.

This complements the other proposed components of Phase 2 which include the Meridin Hotel Suites (Tower B and C) and the balance of The Meridin Walk Lifestyle Retail podium, which began in Phase 1 and is connected to Phase 2. The Meridin Walk Lifestyle Retail podium in Phase 1 has already received amazing take up of approximately 60%. This number is set to grow with the unveiling of Phase 2.

“With The Meridin Hotel Suites, we are looking into growing a vibrant hospitality offering that will leverage on our current M Care service that opens up a whole host of services to our buyers. Some of the M Care services include professional consultation on legal, maintenance, property management, etc. that offers advice on matters relevant to our buyers,” answered Tan Sri Dato’ Sri Leong Hoy Kum to press queries on plans for Phase 2.

Last Call To Own - Tower B Meridin Suites Residences
The launch of Tower B signaled the last call for the public to own the Meridin Suites Residences, the first phase of the RM1.1billion Gross Development Value (GDV) project. Following strong registration of interest numbering over 5,000 registrants, a balloting preview for Tower A and C had been conducted in May 2013. Since then, 87% of the units have been taken up.

Tower B offers 161 units of 2- and 3-bedroom suites with built-ups from 968 sq ft, indicatively priced from RM757,000 onwards. The units have an estimated average price of RM720 per square foot (psf) price.  All units come with two car park bays. Tower B’s low-density of only 6 units per floor, with every unit a corner unit, enables privacy and exclusivity for residents. The orientation of Tower B provides either a pool view or a view in the direction of Legoland Malaysia and the Mall of Medini.

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Posted Date: June 19, 2013 12:00 AM, By:
Icon Residenz the Creative Tower Unveils Innovative Residential Concepts


Mah Sing Group Berhad’s fully integrated commercial centre of Icon City, which stands on approximately 20 acres of prime land at the intersection of the Federal Highway and the Damansara-Puchong Expressway (LDP) will preview its latest serviced residence, Icon Residenz – The Creative Tower, to the public come this weekend of 22-23 June 2013 from 10am to 6pm.

The entire project, with a Gross Development Value (GDV) of RM3.17 billion, will be a beacon of sustainability and green living in Petaling Jaya with three green credentials, namely USA’s LEED, Singapore’s GreenMark and Malaysia’s GBI, added to its name upon completion. Icon City is highly accessible not only because of its highway links but also to public transport via a pedestrian bridge to KTM Komuter’s Seri Setia station and a public bus station adjacent to the station.

Promoting Life, Vitality & Creativity
Icon Residenz the Creative Tower is a new way of looking at living in a fully-integrated development. Firstly, a total of 11 layouts derived from 2-bedroom, 3-bedroom and dual key units with built-up areas ranging from 675 sq ft, 965 sq ft and 717 sq ft onwards respectively and all units are affordably priced, with indicative pricing from RM588,000 onwards.

The innovative dual key unit is likened to conjoined twins in which there are two units, either both of the same dimensions or one larger and one smaller, such as a 2-bedroom unit and a studio. Both have separate entrances but are linked with a door. This configuration allows real flexibility where one of the units can be taken up by either adult children who live with their families, elderly parents who can have the privacy of their own quarters. Alternatively, the space can be used as a studio or home office or even generate rental income.

The key difference between the first Icon Residenz tower and this Creative Tower is that all 333 units within this 39-storey tower offers maximum space utilization and space planning with residents able to fully customize their own fixtures and fittings and give their abodes a personal touch. Those who prefer convenience instead will also get to choose from a full-range of additional options made available by the developer.

“We have taken into consideration the current lifestyles of homebuyers who are more sophisticated and have more say in creatively designing their dream home. It is a completely customizable serviced residence, offering owners a free hand in crafting a home from the white-planned canvas provided for them here while at the same time enjoying all the privileges of a serviced apartment in a prime location,” explained Andy Chua, the COO of Mah Sing Group Berhad in charge of the Icon City project.

Indeed, Icon Residenz offers occupants full-fledged facilities, including a concierge service. This is in addition to boosting the vitality of residents with an array of special features such as the sun decks and roof gardens, leisure and wading pools, fully-equipped gym with changing rooms and children’s playground, a barbecue deck, games room and multi-purpose outdoor function terrace.

Icon Residenz the Creative Tower has direct access to the over 4-acre Central Park, a refreshing green lung that offers chic alfresco dining outlets that is right above the Gourmet Street shops. The other components in Icon City’s first phase include 30 Jewels, Icon Residenz Tower 1 and i-SoVo. The multiple components of Icon City affords residents to benefit from their synergistic strengths where dining, retail and shopping, entertainment and lifestyle options are all just around the corner from their residences and all within a safe and secure environment.

No Time Like the Present
During the preview weekend, members of the public will enjoy a host of early bird privileges from the developer, inclusive of free legal fees on the Sales & Purchase Agreement (SPA), Deed of Mutual Covenants (DMC) and Disbursement. In fact, the fees on the loan documentation, stamp duty and disbursement shall be absorbed by the developer as well. Each unit comes with its own car park, with the 3-bedroom and dual key units having one extra car park bay per unit. The developer has also elected to offer a Developers Interest Bearing Scheme (DIBS), which will allow buyers increased financial flexibility during the construction period of the property.

The public is welcomed to visit the show unit at Icon City Sales Gallery, SS8, Petaling Jaya, from 10am-6pm this weekend, 22-23 June to find out more on the Creative Tower.

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Posted Date: May 30, 2013 12:00 AM, By:
Mah Sing To Develop Kota Kinabalu Convention City


Mah Sing Group Berhad’s 51% owned subsidiary Convention City Development Sdn Bhd on 29 May signed a development agreement with Yayasan Sabah to develop 8.33 acres of prime commercial land in Kota Kinabalu for an entitlement of RM163 million. Besides RM1million to be paid upon execution of the development agreement, the rest shall be paid in 4 tranches over a minimum of 3.5 years, subject to fulfillment of landowners’ obligations.

A building together with the 1-acre piece of land contiguous to the project was also acquired for RM21.9million from Sasinma Sdn Bhd, and the total 9.33acres of land shall be developed into Kota Kinabalu Convention City (KKCC), a world class waterfront integrated development with RM1.4billion gross development value (GDV) in Kota Kinabalu, next to the upcoming Sabah International Convention Center (SICC). The total investment for the 9.33 acres of land at RM184.9million is equivalent to approximately 13.2% of the estimated potential GDV and will be paid over a minimum of 42 months.

Mah Sing’s Group Managing Director Tan Sri Dato’ Sri Leong Hoy Kum said, “Prime land in the heart of Kota Kinabalu is hard to come by, and we envision creating an iconic waterfront development. KKCC will be to Kota Kinabalu what KLCC is to Kuala Lumpur, becoming a landmark in Sabah that will put it on the world map. We are gratified by the recognition of Mah Sing’s branding, execution prowess and track record developing iconic projects that has led to this collaboration with Yayasan Sabah. This will definitely be a high impact project.”

Mah Sing via Convention City Development Sdn Bhd is also entitled to exercise an option for 5.95 acres of adjacent land which may generate additional GDV of RM600 million, potentially bringing up the GDV of Kota Kinabalu Convention City to RM2 billion.

Tan Sri Dato’ Sri Leong added, “We may exercise the option for an entitlement price of RM117million, within 2 years from the issuance of the separate issue document of title. This will provide further upside for our KKCC project, and the overall entitlement price for both phases will be approximately 15% of the potential GDV of RM2billion to be generated should we exercise the option.”

Prime Site in Kota Kinabalu City Centre
Fronting Jalan Tanjung Lipat along the Coastal Highway, the site is near KK Suria Mall and next to SICC in the heart of the city. It is only 1.5km from Hyatt Regency Hotel, and 3.5km from Mah Sing’s Sutera Avenue. It is within 5km of Menara Tun Mustapha, Sabah’s State administrative center, and a short drive from the high end residences in Signal Hill.

SICC will be the main centre for convention activities and development of the MICE industry in Sabah. Currently under construction, the SICC will be able to accommodate over 5,000 delegates upon its completion, and Kota Kinabalu Convention City shall provide supporting facilities for SICC.

Tan Sri Dato’ Sri Leong said, “To fully capitalize on this prime site and complement our neighbours, the integrated development has been envisioned as a premier lifestyle residential, commercial and tourism centre to be designed by international consultants. We have planned a business hotel, a luxury hotel, hotel suites, office towers, shop offices, lifestyle retail, F&B outlets and serviced residences for this project.

The first phase of Kota Kinabalu Convention City will be a massive undertaking over the next 4 to 5 years, and will be developed to utilize the full potential of Kota Kinabalu’s beautiful waterfront.

Capitalising on Mah Sing's Established Branding
Mah Sing first entered Sabah’s property market in 2012 with Sutera Avenue, an integrated development comprising multi-storey shop offices complemented by street mall retail shops and serviced residences. Located diagonally opposite the 5-star Sutera Harbour Resort and KK Times Square, Sutera Avenue has direct road frontage to the Coastal Highway and is only 3.9km from the Kota Kinabalu International Airport. Within just a few months of launch in September 2012, 83% of the shop offices and 44% of the retail shops have been taken up, a testament to the Mah Sing brand and success of the project’s concept.

Tan Sri Dato’ Sri Leong commented, “Just 3.5km from Sutera Avenue, Kota Kinabalu Convention City will be yet another high profile, high impact project along the Coastal Highway, which is one of Kota Kinabalu’s main arteries. We are confident of replicating and even surpassing our success of Sutera Avenue when we launch Kota Kinabalu Convention City.”

Potential as Landmark Project in Sabah
Tan Sri Dato’ Sri Leong commented, “We have great confidence that Kota Kinabalu Convention City will be the landmark project in Sabah. It is a perfect fit with our business strategy; the location is second to none, facilities and amenities abound, and we can launch the project quickly in line with our fast turnaround business strategy. We intend to commence registration of interest by the second half of this year, as early as the third quarter.

He added, “The lands surrounding Kota Kinabalu Convention City are already fully developed or earmarked for catalytic projects that has high impact for Sabah. It is an opportune time to tap on the pent-up demand for a premier lifestyle residential, commercial and tourism centre by branded developers.”

Together with this acquisition, Mah Sing now has 44 projects with a combined remaining GDV and unbilled sales of RM27.8 billion.

Strong Optimism for Sabah
Mah Sing has an optimistic view of the Sabah property market, which has enjoyed a commodities led boom over the past few years, significantly increasing the vibrancy of its local economy. Household income in Sabah rose 29.4% from 2009 to 2012, or an average growth of 8.6% per annum. Besides a RM24.8 billion federal allocation for implementation of development programmes under the 10th Malaysia Plan, Sabah’s own Entry Point Projects (EPP) with a target investment of RM77.5 billion by 2020, is expected to generate RM35.5 billion incremental gross national income and 140,000 jobs. The total cumulative committed investment in Sabah Development Corridor (SDC) since its launching had been recorded at RM114 billion as of December 2012. SDC has attracted increasing amounts of new investments in the services, and especially tourism and the real estate and property sector.

According to the Real Estate and Housing developers Association of Malaysia (REHDA), housing demand in Sabah will grow at an average of 2.2% a year based on the projection on national household formation from now to 2015. With the aggressive implementation of SDC and buoyed by soaring palm oil revenues, Sabah’s real estate sector has been vibrant and recording high demand. Property values have been appreciating in all segments with prices for residential, commercial and industrial units projected to increase by 5-10% over the next year.

Sabah’s breathtaking landscape has also made Sabah a popular choice for both tourists and business travelers, so much so that tourism is expected to contribute over 10% of Sabah’s GDP.

Tourist trade is strong and provides a large market catchment, coupled with the domestic population base. Kota Kinabalu is served by Malaysia’s two local carriers, Malaysia Airlines and AirAsia, and foreign carriers include Royal Brunei Airlines, Dragonair, Cebu Pacific Air, SilkAir, Korean Air, Asiana Airlines and the newly launched Zest Airways which will help boost tourist arrival. Currently Malaysia’s second busiest airport after Kuala Lumpur International Airport (KLIA), the Kota Kinabalu International Airport (KKIA) is served by 135 weekly flights.

Tourist arrivals to Sabah for the first quarter of 2013 increased by 5% to 718,626 from 684,546 in 2012, with sharp increases recorded from China, Hong Kong and Macau (up 79.2%), Korea (up 41.3%), Japan (up 20.9%) and Europe (up 4.3%).

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Posted Date: May 16, 2013 12:00 AM, By:
Mah Sing to launch final block in M City Jalan Ampang this weekend


Mah Sing Group Berhad will be launching the final block of M City Jalan Ampang this Saturday 18 May and Sunday 19 May at their property gallery in The Icon Jalan Tun Razak, opposite Micasa Hotel.

M City is an integrated project comprising SoHo Suites in Block 1 (Fully sold), Serviced Residences in Block 2 (90% sold) and Block 3 (to be launched this weekend), lifestyle retail (close to 100% sold) and Sky Villas (future launch).

There will be a choice of studio, simplex and duplex units with varying room configurations in Tower 3 of M City.  The units enjoy a built up of 506sq.ft priced from RM750,000, up till 3+1 bedroom duplex unit with built up of 1,903sq.ft priced at RM2.6million.

All units are fully furnished and will be in move-in condition, and amongst the furnishings and electrical appliances to be provided by Mah Sing include bedroom wardrobe and vanity cabinet with mirror, kitchen cabinets, air conditioners, refrigerator, washer cum dryer, microwave over, built in hood and hob as well as water heaters.  Mah Sing shall also absorb the legal fees for sales and purchase agreement as well as provide 1 year free maintenance.

Located close to Ampang Point with the proposed MRT nearby, M City Jalan Ampang is less than 4 km from KLCC and only 1.26km from M Suites Jalan Ampang.  It is also within a short distance from the Great Eastern Mall as well as Gleneagles Intan Medical Center.  M City affords 3 panoramic views namely KLCC, Taman Tasik Ampang Hilir and the refreshing mountain views of the Titiwangsa range.

Adopting a garden city concept, M City will enjoy over 4 acres of greenery with thematic hanging gardens.  This concept won the Most Iconic Green Development at the Malaysian Reserve’s Editors’ Choice Awards 2012 which also recognized the integrated development’s sustainable features that will be certified with Malaysia’s Green Building Index (GBI)’s Gold standard.

The sales gallery is open daily from 10am – 6pm including Sundays and Public Holidays and is located in The Icon Jalan Tun Razak.

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Posted Date: May 15, 2013 12:00 AM, By:
Mah Sing Previews Meridin Suites Residences in Iskandar Malaysia


After much anticipation, The Meridin@Medini in Iskandar Malaysia was successfully unveiled in an exclusive preview on 11 May 2013. The by-invitation only closed-door event attracted some 1,500 visitors from more than 4,000 registrants.

Strategically located 4 minutes from Legoland
A purpose built integrated development along Persisiran Pantai JB-Nusajaya which is the protocol road to Kota Iskandar, The Meridin@Medini employs a Live, Work, Relax and Rejuvenate concept.

Abutting a 32 acre undulating green lung, The Meridin@Medini is just 4 minutes to Legoland and opposite the upcoming financial centre of Medini Business. Meanwhile, access to the Tuas-Singapore Second Link is a mere 10 minutes away and the Senai International Airport, 25 minutes away, while the toll-free Coastal Highway shortens the distance to Nusajaya to 10 minutes.

75% or 446 units valued at RM261million preselected within 5 hours in closed door event reflects investor confidence in integrated project
Phase 1 of The Meridin@Medini comprises 3 towers of Meridin Suites Residences and Meridin Walk Lifestyle Retail.

During the preview, registrants successfully pre-selected their units in Phase 1A which comprises Tower A and Tower C of Meridin Suites Residences.  There are 595 available unit indicatively priced from RM387,000 with built up of 521 square feet (sq.ft) onwards.  Each unit comes with 2 carparks.

Within the course of 5 hours, 75% or 446 units valued at RM261million were taken up.  65% of the units were selected by Malaysians, with the rest by foreign investors from Singapore, Japan, Korea, Taiwan and Indonesia.

Mah Sing’s Group Managing Director cum Group Chief Executive, Tan Sri Dato’ Sri Leong Hoy Kum said, “We are heartened by this strong turn out.  This represents confirmation of interest for properties valued at RM261million within just 5 hours, and reflects investor confidence in the product, concept, location and our Mah Sing brand name.  We shall certainly create a new icon in Medini.”

Phase 1B comprises Tower B of Meridin Suites Residences whilst Phase 2 of the project comprises Meridin Linx Small Office Versatile Offices (SoVo) and Meridin Exchange corporate towers.  

Dato’ Lim Kiu Hock, Executive Director of Mah Sing Group Berhad, said, “With the keen interest in these properties, we are confident of equally healthy take up for the remaining Tower B once we do an official launch.  Not only are our price points attractive, each home is partially furnished with air-conditioning for all bedrooms and living room, built-in kitchen cabinet, cooker hood and hob, wardrobe for all bedrooms and water heater for bathrooms.  This ensures that our buyers can enjoy a hassle free experience with this property which is suitable for both own stay and investment.”

Complementing the suites are 30 units of lifestyle retail units with built-ups from 850 sq ft onwards, indicatively priced from RM1,000 psf. There has been much interest in these units especially since companies that are eligible and commence qualifying activities before 31 December 2015 are able to register for IDR Status that proffers a variety of tax breaks including on income tax, withholding tax for services and royalties, import duty and sales tax and even the real property gains tax.

Tan Sri Dato’ Sri Leong mentioned that The Meridin@Medini is poised to tap into the many catalytic developments within Iskandar Malaysia, saying “There is something for everyone here, with prices a fraction of a mass market condominium in Singapore, buyers of The Meridin@Medini will not only enjoy premium lifestyle features of concierge services, a fully-equipped facilities deck and multi-tiered security features but also the provision of a wellness residential enclave that will be equipped with facilities for continued care.”

In essence, The Meridin@Medini will appeal to young working couples, expatriates and empty nesters as well as parents of children attending schools and universities in EduCity@Iskandar, like the Marlborough College, Newcastle Medical School, Trust School and the University of Southampton.

As 2013 forms part of the much touted “Banner Years” of Iskandar Malaysia, the entire region is fast becoming a favourite property investment destination for Malaysians and overseas buyers in particular Singaporeans due to the proximity and comparative value for money as well as other incentives including.  This includes the exemption from the minimum threshold of RM500,000 for foreign buyers, and international buyers also have the choice picks of available units.

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Posted Date: May 09, 2013 12:00 AM, By:
Mah Sing to Conduct Closed-Door Private Preview of The Meridin@Medini in Iskandar Malaysia


Mah Sing Group Berhad will be conducting a closed-door private preview of its much anticipated project, The Meridin@Medini in Iskandar Malaysia, on 11 May 2013 at Hall 301, Persada Johor International Convention Centre (next to Puteri Pacific Hotel) from 9am to 5pm.

The closed-door event is by-invitation only, for those who have previously registered their interest online on www.mahsing.com.my.  Interested buyers can still register their interest before 7 May 2013, or call 07-355 4888 / 1800-88-6788 for their personal invitation.  Enquiries can also be emailed to meridin.sales@mahsing.com.my.

Acquired in October 2012, The Meridin@Medini is undergoing a fast track development to meet immediate market demand as evidenced by the more than 4,000 registrants for Phase 1 of the project namely Meridin Suites Residence.  

To fit various market needs, there shall be a range of designs from 1 bedroom to 4 bedroom units, with an option of balcony extension.  Built up areas range from 521 square feet (sq.ft) to 1,643 sq.ft, indicatively priced from RM387,000 to RM975,000.  

Each home is partially furnished with air-conditioning for all bedrooms and living room, built-in kitchen cabinet, cooker hood and hob, wardrobe for all bedrooms and water heater for bathrooms.

There are also 30 units of lifestyle retail units of varying sizes to suit different needs, with built up from 850sq.ft onwards, indicatively priced from RM1,000psf.  Eligible companies in Medini that commence qualifying activities before 31 December 2015 can register for IDR Status to enjoy various income tax exemption, withholding tax exemption for services and royalties, import duty and sales tax exemption as well as exemption from real property gains tax.  

Purpose built development in a prime location
The Meridin@Medini enjoys main road frontage of Persisiran Pantai JB Nusantara, Lebuh Kota Iskandar, the protocol road leading to Johor’s new administrative center, Kota Iskandar and abuts a 32 acre undulating green lung.  The project is a stone’s throw away from Legoland as well as the upcoming financial hub, Medini Business.  

The Meridin@Medini will be a purpose built development with a Live, Work, Relax and Rejuvenate concept comprising Meridin Suites residences, Meridin Linx small office versatile offices (SoVo), Meridin Walk lifestyle retail and Meridin Exchange corporate towers.  

The Meridin@Medini is only 10 minutes from the Tuas Singapore second link and 30 minutes from Senai Airport.  The close proximity to the second link and thence to Jurong is a boon to the project which is expected to attract both Malaysians working in Singapore and Singaporeans.

Dr. Chai Kow Sin, Mah Sing’s Senior General Manager, Southern Region said, “At a fraction of the price of a mass market condominium in neighboring Singapore, buyers of Meridin Suites will enjoy premium lifestyle features including concierge services, a facilities deck and high tech 4 tier security features.  This will also appeal to young working couples, expatriates and empty nesters.  In fact, Mah Sing will also provide for a wellness residential enclave which will be equipped with facilities that cater for continued care.  This will be ideal for those seeking wellness care services in a well planned and secured community.”

Iskandar Malaysia is a favourite property investment destination for Malaysians and overseas buyers in particular Singaporeans due to the proximity and comparative value for money as well as other incentives including.  This includes the exemption from the minimum threshold of RM500,000 for foreign buyers, as well as exemption from having Bumiputera quota.  This means that international buyers will also have the pick of choice units.

Dr Chai noted, “We foresee a lot of interest from parents whose children study in the various institutes of higher learning in EduCity@Iskandar like Newscastle Medical School, Marlborough College, Trust School and University of Southampton.  Our project offers an attractive entry point, practical layouts, facilities and good security, giving them the peace of mind to let their children reside in The Meridin@Medini.”

Iconic architecture with practical purpose
The Meridin@Medini has drawn interest for its clean lines. A broad and stable base tapers up to an elegant tip, creating an iconic curved façade which will be very distinctive due to the proposed height of the towers (proposed 36 storeys).  
All the units will have South-West and North-East orientation, which is optimal for tropical weather, and particular care will be taken to ensure good airflow and natural ventilation for all the towers.

The 3 towers hugs the recreation and facilities deck on level 5 which will be a community focal point.  Some of the proposed facilities include an infinity swimming pool, Jacuzzi, children’s wading pool & playground, thematic landscaped garden, gymnasium, fitness par course, yoga deck, BBQ terrace, multipurpose hall, business centre equipped with Wi-Fi and launderette.

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Posted Date: April 19, 2013 12:00 AM, By:
Mah Sing Group Scores Hat Trick at Awards


Lifestyle property developer Mah Sing Group Berhad was recently honoured at the Corporate Governance Asia – Asia Excellence Recognition Awards 2013, scoring a hat trick by winning:

•    Asia’s Best CEO (Investor Relations) – Malaysia for Mah Sing’s Group Managing Director Tan Sri Dato’ Sri Leong Hoy Kum (winning for 3rd consecutive year)
•    Best Investor Relations by Company – Mah Sing Group Berhad (winning for 3rd consecutive year)
•    Best Investor Relations Website/Promotion – Mah Sing Group Berhad (maiden win)

Launched 10 years ago, the award is organized by Corporate Governance Asia, an authoritative journal based in Hong Kong.  The Award honours outstanding corporations that are governed according to principles of transparency and accountability at all levels and has a good balance of corporate social responsibility and environmental practices in its profile. The Awards also honour corporate directors who drive the business with high standards of business ethics while meeting the expectation of shareholders in business development.

The tripple win is an unmistakable vote of confidence that recognizes Mah Sing Group’s corporate governance practices and policies and the visionary that drives the Group’s performance with his leadership.

“We are honoured to have won the awards for the third year running.  These awards are a verification and reflection of the confidence in the Group, not just at the corporate and investment levels but also in the eyes of the public.  Corporate Governance is very important to Mah Sing; beyond meeting regulatory requirements to report on the corporate social responsibility activities we undertake, we have further prepared a Sustainability Report on a voluntary basis since our Annual Report 2010.  The report covers our efforts in promoting long-term sustainability in terms of economic vitality, social relationships with stakeholders and environmental compliance.  It is indeed gratifying to find that our efforts have been appreciated,” said Mah Sing Group Berhad’s Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum.

Following its recent acquisition of D’sara Sentral, an integrated commercial project in Sungai Buluh located diagonally opposite the upcoming MRT station next to the Rubber Research Institute of Malaysia (RRIM) land. Mah Sing Group now has 41 projects in high-growth locations throughout Malaysia including Kuala Lumpur and the Klang Valley, Penang island, Johor Bharu and Kota Kinabalu, Sabah.  These projects yields remaining gross development valye and unbilled sales of approximately RM19.7 billion.

The second biggest listed developer by sales value in Malaysia, Mah Sing Group has been viewed as one of the proxies to the property market in Malaysia.  It has had an unbroken track record of profitability, and has been paying out at least 40% of net profits in dividends since 2006.  Its recent Rights Issue with Warrants was oversubscribed by 18.55%, raising approximately RM398million which will part finance our property development expenditure, future land acquisitions and general working capital requirement.  The Group is also rewarding shareholders with 1 bonus share for 5 existing share held at an Entitlement date to be fixed.

“The global financial crisis taught us many lessons and opened up the path to improve the corporate governance standards in Asia. It was not an easy journey as many of us had to change the ways of doing business. Many were pointing to the prominence of family-owned and family-controlled companies in the region as a major stumbling block for reforms, but over the years, this was no longer the case. They, too, have changed their ways as they grow bigger and enter the global arena by growing organically or through mergers and acquisitions. The investors demanded it and the owners were just too happy to oblige,” said Aldrin Monsod, the Founder and Managing Director of Corporate Governance Asia.

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Posted Date: August 10, 2011 12:00 AM
Asie: two more property deals by year-end
Asie is in talks with several Malaysian and foreign developers on the Tamansari Riverside Garden City urban regeneration project in Kuala Lumpur.

Asie Sdn Bhd expects to give out at least two more contracts by year-end to help develop properties worth over RM1 billion at its Tamansari Riverside Garden City urban regeneration project in Kuala Lumpur.

Its founder, Khalil Akasah, said Asie is in talks with several local and foreign developers which have expressed interest to undertake joint venture developments with the company.

"The Tamansari project will finally breathe fresh air after waiting so long to kick-start. We are upbeat about the project, which has garnered a lot of investors' interest," Khalil said in an interview on Wednesday.

The urban regeneration project was mooted some 30 years ago by Malaysia's second prime minister, the late Tun Abdul Razak.

On August 2, Asie gave out its first contract for the RM9 billion Tamansari project to Mah Sing Group Bhd, Malaysia's fifth largest property developer by revenue.

The contract given to Mah Sing entails it to undertake a niche development on 1.6ha. Called M Sentral, it will feature serviced residences and retail lots worth a combined RM900 million.

Khalil said the project will be undertaken by several developers to ensure its success.

"We are not going to depend on just one player such as Mah Sing to do the job. We will replicate what MRCB did for KL Sentral where it parcelled out the land development to several players," Khalil said.

Located on 23ha along Jalan Tun Razak-Jalan Pahang; the former site of the Tunku Abdul Rahman flats or Pekeliling flats, the 10- to 15-year project is envisaged to be bigger than Mid Valley City.

Asie signed the privatisation agreement in 1999, obtaining full rights and approvals to build residential and commercial properties, leisure, recreation and infrastructure facilities on 14 parcels of development land.

Under the deal, Asie is required to construct 3,500 units of public housing and facilities in exchange for the 23ha land. Asie has built and handed over 3,000 units in 2006. –Business Times

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Posted Date: August 02, 2011 12:00 AM
Mah Sing top CIMB property sector pick
CIMB Research is "overweight" on the property sector, the research house said in a report on Monday, saying that Mah Sing Group Bhd is its top pick among the property stocks.

The research house added that SP Setia Bhd, which dominates the Klang Valley and Johor property sector, remains its core holdings.

CIMB Research also said that it is bullish on Penang developer Eastern and Oriental Bhd (E&O), noting that residential property prices in Penang have enjoyed higher appreciation over the past 20 plus years than the average in the Klang Valley and Johor.

"We are bullish about E&O and consider it to be undervalued. The stock is trading at a 45 per cent discount to our fully diluted revised net asset value (RNAV) per share of RM2.82," analyst Terence Wong wrote in the report.

"E&O remains 'outperform' in our books with an unchanged target price of RM1.98, which is based on a 30 per cent discount to RNAV," he wrote in the report.

Wong added that a potential re-rating catalyst for the sector includes a pick-up in merger and acquisition (M&A) activities, continued robust sales, landbanking exercises and accelerating earnings growth.

The research house also said it is not surprised that the M&A theme is resurfacing as it is becoming increasingly difficult to acquire decent landbank in the Klang Valley and Penang Island as developers hoard land and are aggressively bidding for strategic parcels.

"For Klang Valley, the population has grown to nearly seven million and development has spread as far south of Kuala Lumpur as Cyberjaya. Penang, being an island with a hilly centre and underdeveloped west coast, also limits the availability of land for development," said Wong. –Business Times

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Posted Date: July 19, 2011 12:00 AM, By: iProperty.com
Icon City racks up RM426.5m sales
Mah Sing Group Berhad’s Icon City saw sales of RM426.5million during the weekend launch of its show gallery.

The sales were racked up from the commercial i-SoVo (small office versatile office) units, 30 Jewels (7&8 storey shop offices) and Gourmet Street (1&2 storey retail shops).

Icon City, located in SS8, Sungei Way, has a total gross development value (GDV) of approximately RM3.2billion, to be developed in 3 to 4 phases.

Part of Phase 1, i-Sovo comprises 410 units; Tower 3 with 198 units and Tower 3A with 212 units.

These duplexes come with built ups of 745 sq ft and 1,094 sq ft, priced from RM599,000 onwards.

During the launch, 80% of Tower 3 or 138 units were snapped up.

Due to the overwhelming response, Tower 3A was opened up on Sunday evening and 10 units were taken up.

Over a single weekend, 148 i-Sovo units were sold.

In addition, 96% of 30 Jewels and 37% of Gourmet Street were sold.

Group managing director-cum- group chief executive Tan Sri Leong Hoy Kum said, “Icon City shall be an integrated development as buyers like this concept. We are investing on a comprehensive traffic dispersal system to improve access, and this will greatly ease the congestion issue that had plagued this location for the past few years”.

He added that some analysts and industry experts have opined on the potential for the third MRT line from Kuala Lumpur to Klang to pass through the project, and if that materialize, would greatly enhance the access to an already well connected project.

Chief operating officer, Andy Chua said Mah Sing expects to open registration for the serviced residences with sizes ranging from 563 sq ft to 1,779 sq ft by 3Q2011.

Icon City is poised to be amongst the first in the Southeast Asia to be certified by Leadership in Energy and Environment Design (LEED), USA and Green Building Index (GBI), Malaysia and Green Mark, Singapore and be the ultimate integrated development in Petaling Jaya.

CIMB Research, meanwhile, is maintaining its forecasts and target price of RM3.30 on Mah Sing.

This is based on an unchanged target market price to earnings of 14.5 times. Potential re-rating catalysts include the very good response to the maiden public launch of Icon City, continued strong sales by the group and aggressive landbanking newsflow which should pick up pace in 2H.

The RM426.5 million sales achieved by Mah Sing for the phase one make up around 18 % to 23 % of its full-year sales target of RM2 billion to RM2.5 billion, the research house said.



The crowd at Icon City's show gallery launch.


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Posted Date: July 08, 2011 12:00 AM
Mah Sing wins “Best Of Asia” at Corporate Governance Asia Recognition Awards 2011
Mah Sing Group Berhad was named The Best of Asia at the 7th Corporate Governance Asia Recognition Awards 2011 whilst its group managing director Tan Sri Leong Hoy Kum won the Asian Corporate Director Recognition Awards 2011.

Leong said, “We place high priority in ensuring good governance in all areas of our operation, with appropriate controls in place to ensure satisfactory levels of accountability and integrity.

“We are also committed to ensuring high standards of disclosure and transparency, and we are honoured by these awards which had recognized these efforts.”

The Best of Asia Corporate Governance Asia Recognition Awards are presented to top organisations in China, Hong Kong, India, Indonesia, Malaysia, South Korea, the Philippines, Singapore, Taiwan and Thailand.

Among the winning criteria include a previous publicly acclaimed track record for corporate governance, disclosure, transparency and investor relations practices.

The Asian Corporate Director Recognition Awards 2011 recognizes the winner’s contribution in growing the company’s business, social responsibility, environmental protection, as well as efforts in raising the standards of corporate governance practice in the country.

Mah Sing is one of the most diversified property developers in Malaysia, with 34 residential, commercial and industrial projects in the medium to high end property segments in Malaysia.

It has an enviable profit track record of 48% compounded annual growth rate (CAGR) from 2002 to 2011, and is a favourite of the investment fraternity due to its strong track record and visible earnings growth.

As at June 2011, approximately 32% of its shares are held by local institutional investors and 20% are held by foreign institutional investors.

Mah Sing has a market capitalization of close to RM2.2billion and targets to reach a market capitalization of RM5billion within the next 5 year.

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Posted Date: June 08, 2011 12:00 AM
Mah Sing’s i-Parc 3 to represent Asia Pacific for world awards
Mah Sing Group Berhad’s , i-Parc 3@Bukit Jelutong will represent Asia Pacific on the world level after it won the 5-Star Award for Best Industrial Development in the region at the Asia Pacific International Property Awards 2011 in Shanghai.

The ultimate World’s Best in each category will be unveiled when the final results are revealed at London’s Savoy Hotel on December 12th.

It will compete against other high scoring companies from Europe, Africa, the Americas and Arabia.

Mah Sing’s group managing director Tan Sri Leong said, “Being awarded at a regional level and to represent Malaysia and the Asia Pacific region on the global stage reaffirms our status as a premier lifestyle developer.”

At the same awards, Mah Sing also bagged the Highly Commended Retail Development Malaysia for Star Avenue @ D’sara, the Highly Commended Mixed-Use Development Malaysia for Southbay City Penang and Highly Commended Developer Website Malaysia for www.mahsing.com.my.

This is the 5th consecutive year Mah Sing has swept awards from Asia Pacific and International Property Awards.

The Asia Pacific International Property Awards 2011 in association with Bloomberg Television and Google, is part of the International Property Awards which was established 17 years ago.

Each year they set out to identify the very best real estate professionals across the globe.

This is carried out through a meticulous process involving a judging panel of over 50 experts chaired by Lord Bates of Langbaurgh and covering every aspect of the property business such as development, architecture, interior design and agency.

President of the International Property Awards Stuart Shield, said, “The Asia Pacific Property Awards and networking event in Shanghai was a resounding success. Many happy participants claim they have made excellent connections with fellow award winners from many parts of the Asia Pacific world of property which is exactly what the event is designed to do.”

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Posted Date: June 01, 2011 12:00 AM
M City enjoys 98% take up of phase 1a
Mah Sing Group Berhad’s RM1.4billion M City Jalan Ampang which was opened for preview from 27-29 May 2011 for registrants, enjoyed a 98% take up for Phase 1A over the weekend.

Mah Sing’s group managing director Leong Hoy Kum said, “Prospective buyers started queuing up outside our sales gallery since 5 am and the atmosphere was charged up as the gallery was packed with buyers. Over the 3 days, 176 units out of 180 units were taken up and we decided to open up Phase 1B comprising 221 units of designer SoHo.”

Located close to Ampang Point with the proposed MRT nearby, M City Jalan is less than 4 km from KLCC and only 1.26km from M Suites Jalan Ampang.

It is also within a short distance from the Great Eastern Mall as well as Gleneagles Intan Medical Center.

M City affords 3 panoramic views namely KLCC which is less than 4km away, Taman Tasik Ampang Hilir and the refreshing mountain views of the Titiwangsa range.

Adopting a garden city concept, M City will enjoy over 4 acres of greenery with thematic hanging gardens at levels 7, 11, 17, 23, 29 and 35.

This is likely to be the first such concept for high rise in Malaysia and has drawn strong interest with over 3,000 registrants for the designer SoHo suites, residential suites and sky villas.

There will also be lifestyle retail outlets to cater to the needs of residents and tenants.

The first component namely the designer SoHo suites comprises single storey units with built ups of 781sq ft, 853sq ft and 1,066 sq ft as well as duplex units with built ups of 910sq ft and 1,330sq ft.

These units are semi-furnished and averagely priced at RM800 per sq ft (psf).

M City will also be Green Building Index (GBI) compliant.

Leong added, “Prospective buyers can still select choice units at the sales gallery on the 5th Floor of The Icon Jalan Tun Razak which is open daily from 10am – 6pm including Sundays and Public Holidays.

We have taken great care to design products that are aesthetically pleasing yet practical, and this has drawn very positive response from buyers. The strong take up adds to our confidence and we shall soon roll out 2 more projects namely Icon City Petaling Jaya and Icon Residence’ Mont Kiara to meet this pent up demand for manageably sized units in good locations.”

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Posted Date: May 27, 2011 12:00 AM
Mah Sing profit up 48% in Q1
Mah Sing Group Berhad recorded profit of RM41.2mil for the 1st quarter of 2011, a 48% improvement compared to the same quarter last year.

The company’s revenue rose by 31% to RM311.8mil.

The improved revenue and profit for the quarter is attributable to progressive recognition of development revenue and profit contribution from its property development activities carried out in Kuala Lumpur, Klang Valley, Penang island and Johor Bahru.

The Plastics division also contributed positively to the current quarter revenue and profit.

The company said it achieved RM975mil in sales as at 13 May 2011, meeting 49% of its full year sales target of more than RM2bil.

As at 31 March 2011, the Group has unbilled sales of approximately RM1.6bil.

“Our sales to date has been good because of strong response to all segments of our properties, as we have established a strong branding based on our track record of offering innovative, niche products after conducting in-depth market research.

“We are confident of equally strong demand for other new projects slated for launch this year,” said group managing director cum group chief executive, Tan Sri Leong Hoy Kum.

Currently the Group has a total of 34 projects in Greater KL (Kuala Lumpur and Klang Valley), Penang island and Johor Bahru.

These yield a combined remaining gross development value and unbilled sales of approximately RM14 billion which can last for 5 to 7 years.

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Posted Date: April 27, 2011 12:00 AM
Star Avenue@D’Sara shop offices sold out, registered sales of RM242.5m
Mah Sing Group Berhad’s Phase1&2 of Star Avenue@D’Sara in Sungai Buloh have been fully sold during its launch, with registered sales of RM242.5mil.

Phase 1 & 2 comprise of 92 units of 3-storey shop offices averagely priced from RM2.6mil.

The launch, held over the weekend, attracted more than 800 prospective buyers.

Mah Sing’s chief operating officer Andy Chua said, “We have been quite confident that Star Avenue@D’Sara shops would be well received based on its strong potential and exceptional value but a 100% take up rate on the first sales launch event weekend has exceeded our expectations and was a pleasant surprise.”

In view of the overwhelming response to the development, the group is now opening 46 units of the Avenue Street Mall retail lots for registration.

The Avenue Street Mall offers 370,000 sq ft of nett lettable area spread over 4 levels and Mah Sing Group intends to keep approximately 60% to ensure the right tenancy mix to maximize the rental yields and increase capital appreciation.

The proposed tenancy mix includes F&B outlets, a supermarket, IT and tele-communications center, bowling alley, fashion and accessories stores, etc.

With an estimated catchment of 360,000 people within a 15 minutes drive and excellent visibility with more than 300,000 passing traffic daily, and the lack of a competing mall nearby, Star Avenue@D’Sara is poised to be a shopping hotspot.

The project is only 3 minutes from the proposed MRT Station in Taman Industri Sg. Buloh and strategically located at the busy traffic junction of Jalan Sungai Buloh (Guthrie Corridor), Persiaran Cakerawala and Jalan Lapangan Terbang Subang.

“As connectivity is becoming more and more of a factor that appeals to the market, Star Avenue@D’Sara’s strategic location as well its superb accessibility and large population catchment that includes Subang, Subang Bestari, Sungai Buloh, Ara Damansara, Kota Damansara, Mutiara Damansara would serve the business community well,” said Chua.

Star Avenue@D’Sara shall be able to tap on the 13,000 students at the proposed new Help University Collegue-Subang 2 Campus, via Persiaran Cakerawala which is currently being upgraded into a 6 lane road.

“This project is also adjacent to the much talk about 3,300-acre Rubber Research Institute of Malaysia (RRIM) privatization land to be developed by EPF. Buyers are obviously optimistic of the RRIM land potential,” added Chua.



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Posted Date: April 14, 2011 12:00 AM
Mah Sing buys JB land
Mah Sing Group Berhad via its wholly owned subsidiary, Mah Sing Properties Sdn Bhd has acquired approximately 205.72 acres of freehold land in Johor Bahru for RM54.7 mil cash.

The land has been slated for the development of Mah Sing i-Parc, an integrated industrial and business park which can yield an estimated gross development value of approximately RM610 mil.

Mah Sing’s group managing director and chief executive Leong Hoy Kum said they see enormous potential for Mah Sing i-Parc to be a centralized logistic hub as it is only 1km from the Port of Tanjung Pelepas (PTP) and 23km from Jurong Industrial Estate in Singapore.

He added, “The location is very prime and this is one of, if not the last piece of sizeable freehold land in the area.”

PTP ranks second in the country’s container ports after Port Klang, handling 3.7million TEUs (twenty-foot equivalent units) for the first 7 months of 2010.

This represents 36.1% of total container throughput in Malaysia, and the port improved its ranking from 18th in 2008 to 17th in 2009 in the world’s top 20 container ports in terms of TEUs.

Mah Sing i-Parc will be Mah Sing’s first large scale industrial project in 15 years.

Based on preliminary plans, Mah Sing i-Parc will develop semi-detached factories with built up of approximately 5,400 sq ft, priced from RM1.5 mil and detached factories with built up of approximately 10,000 sq ft, priced from RM2.5 mil.

There will also be some factory land of approximately 0.5 acre to 1 acre per lot for sale within the industrial and business park.

Three storey shops priced from RM650,000 will be built to complement the project. The development is expected to commence in the last quarter of 2011.

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Posted Date: April 06, 2011 12:00 AM
Mah Sing sweeps Asiamoney awards
Mah Sing Group Berhad clinched top spot for all the categories awarded to Malaysia at the 8th Asiamoney Corporate Governance Poll.

The listed property developer took the awards for Malaysia's Overall Best Company for Corporate Governance, Malaysia's Best for Disclosure and Transparency, Malaysia's Best for Responsibilities of Management and the Board of Directors, Malaysia's Best for Shareholders' Right and Equitable Treatment, Malaysia's Best for Investor Relations and Malaysia's Best for Investor Relations Officer.

Asiamoney, a regional financial magazine, conducted the poll which saw participation from CEOs, CIOs, senior executives, Heads of Research and senior analysts from fund management and brokerages across Asia ex-Japan.

“We establish long-term relationships with our investors, business partners and customers and we achieve this through trust and transparency via best practices and delivering on our promises,” said Executive Assistant to the Group Managing Director Jane Leong, who represented the Group at the awards gala night held in Hong Kong.

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Posted Date: March 11, 2011 12:00 AM
Mah Sing FY2010 profit jumps to RM118.1 mil; targets RM2 bil sales FY2011
Lifestyle developer Mah Sing Group Berhad saw strong growth in profit after tax after minority interest (PATMI), registering RM118.1 mil for the financial year ended 31 Dec 2010 on the back of revenue of RM1.1 bil. This represents a 25% year-on-year improvement in PATMI, compared to RM94.3million for the previous financial year 2009. Earnings Per Share (EPS) stood at 14.20sen for 2010.

The improved revenue and profit for the financial period is attributable to progressive recognition of development revenue and profit contribution from its property development activities carried out in Kuala Lumpur, Klang Valley, Penang and Johor Bahru.

“We have set a sales target of more than RM2 billion for 2011 and are confident of achieving this target as we have achieved RM363million in sales for the first 2 months of this year,” said Mah Sing Group Bhd’s Group Chief Executive and Group MD Tan Sri Dato’ Sri Leong Hoy Kum.

This year the Group targets land acquisitions which can potentially yield more than RM7billion in gross development value (GDV) potential, compared to last year’s RM4 bil GDV. The Group intends to scout for land near new proposed MRT stations.

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Posted Date: December 09, 2010 12:00 AM
Mah Sing Records Approx RM30 mil Q3 Profit and RM1.2 bil sales

Mah Sing Group Berhad recorded a 26% year-on-year increase in profit after tax and minority interest (PATMI) for the 3rd quarter of FY2010. PATMI for 3Q2010 was approx RM30 mil on the back of revenue of approximately RM283 million.

For the first 3 quarters of 2010, the Group achieved a 25% improvement in PATMI over the corresponding period in the previous year. Revenue and PATMI was recorded at approximately RM811 mil and RM87 mil respectively.

Mah Sing has been on an acquisition trail and to-date in 2010, had 10 new land deals with a combined gross development value of approximately RM4.0 billion.


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Posted Date: November 04, 2010 12:00 AM
Mah Sing buys land with GDV RM1.2 bil in Ampang and Cyberjaya

Mah Sing Group Berhad has just acquired 2 new pieces of land in Ampang and Cyberjaya with a gross development value of approximately RM1.2 billion.

Approximately 1.26km from the Group’s successful serviced residences project, M Suites Jalan Ampang, and less than 5km from KLCC, is M City Jalan Ampang, which sits on 4.7 acres of freehold land. It was acquired for RM114.9 million, which translates to RM560.63 psf.

Tan Sri Dato’ Sri Leong Hoy Kum, Group Managing Director and Group Chief Executive of Mah Sing Group Berhad said, “It is rare to find a sizable freehold land which has wide Jalan Ampang frontage of more than 700 feet and close to KLCC. With its prime location and our concept, we believe M City will be a preferred residential address as well as an excellent choice for those intending to set up businesses in the area or for investment purposes.”

Mah Sing also acquired approximately 34.86 acres of prime freehold land adjacent to its Garden Residence township in Cyberjaya for approximately RM51.6 million. This latest acquisition adds RM280 million to Garden Residence’s gross development value and augments the township size to 150 acres.

Tan Sri Dato’ Sri Leong Hoy Kum said, “It is certainly an opportune time to replenish our land bank in order to meet the strong demand and we intend to create an exclusive enclave of semi-detached homes on the new land.”


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Posted Date: September 24, 2010 12:00 AM
Mah Sing Supports Transformation Plan

Mah Sing Group Berhad has recently expressed its support for the Government Transformation Programme which it said benefited the property sector where it is a key player.

Its group managing director, Tan Sri Dato’ Sri Leong Hoy Kum said, “The private sector shall be Malaysia’s new engine of growth, and the property sector is one of the core drivers. As a key player in the sector, Mah Sing shall give full support to government initiatives including participation and value adding to government land in co-operation with relevant government linked companies.”

“The Government Transformation Programme has shown concrete and quantifiable results in a relatively short time, and we are excited about the Economic Transformation Plan. It is a long term programme for Malaysia to become a high-income, high-value economy and execution is crucial. We welcome the initiative for Greater KL to be a National Key Economic Area as this would boost demand for properties, especially since 22 of our 30 projects are in Greater KL,” he added.

Tan Sri Dato’ Sri Leong Hoy Kum added, “We also laud the Government’s commitment to increase and improve road connectivity and the public transportation system, as this will directly and indirectly benefit our various projects which are in prime locations in Greater KL, Penang Island and Johor Bahru. While our projects already enjoy excellent accessibility, any additional connectivity will bring added convenience for residents and tenants, and has the potential to increase property values.”


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Posted Date: August 27, 2010 12:00 AM
Mah Sing Records RM29.2 Million 2nd Quarter Profit

Mah Sing Group Berhad has exceeded its 2010 full year sales target of RM1 billion within 7 months. The Group recorded a 27% year-on-year increase in profit after tax after minority interests (PATMI) for the 2nd quarter of FY2010. PATMI for 2Q2010 was approximately RM29.2 million on the back of revenue of approximately RM289 million. There is 5% increase compared to the immediate preceding quarter which saw PATMI of RM27.9 million.

The Group’s first and final gross dividend per share of 6.5 sen for FY2009 will go ex-date on 8 September 2010 and payable on 17 September 2010. In the medium and longer term, the Group is able to leverage on its healthy balance sheet to take advantage of opportunities arising for quality land acquisitions/joint development, both in the domestic and regional markets. To-date in 2010, the Group has acquired new projects with a combined gross development value of approximately RM1.9 billion. Yet, due to careful planning, strong sales and financial discipline, their net gearing is only 0.05 times as at 30 June 2010.

Currently, the Group has a combined remaining gross development value and unbilled sales of approximately RM7.44 billion from their projects which are strategically located in the economic and property hot spots of Kuala Lumpur, Klang Valley, Penang Island and Johor Bahru.

Mah Sing’s Group Managing Director cum Group Chief Executive, Tan Sri Dato’ Sri Leong Hoy Kum said, “We have many exciting new launches coming up in the second half of the year and we target to achieve more than RM1.5 billion of sales this year.”
Tan Sri Dato’ Sri Leong Hoy Kum added, “We have been enjoying strong sales momentum from the previews of our new projects. With 15 active projects and 10 new projects in the planning stage, new launches will provide buyers with good investment choices. Buyers will be able to view newly completed show units for Garden Villa Hijauan Residence, One Legenda, Garden Residence, M Suites and Sierra Perdana. Before the end of the year, show units for Kinrara Residence, Icon Residence Mont’ Kiara and Austin Suites shall also be unveiled to the public.”

“Our new launches have always been eagerly awaited. Over the weekend, we had people already queuing up for Kinrara Residence; our preview is slated for this coming weekend, but as they are eager  to select their units, we have prospective buyers already queuing up at our sales office!” he said.

There shall be a preview on Saturday, 28th August for those who had registered with Mah Sing in the last one month or so, and public preview only from Sunday 29th August onwards.


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Posted Date: July 27, 2010 12:00 AM
Mah Sing acquires 3 landbanks worth RM1.1 billion
Mah Sing Group Berhad has recently acquired 3 new landbanks with a combined gross development value (GDV) of approximately RM1.1 billion. This brings the amount of new project acquisitions to RM1.9 billion in 2010 and RM2.2 billion in 2009.

Located at the Klang Valley, the new lands are Kinrara Residence (Residential with GDV RM730 million), Star Avenue (Commercial with GDV RM280 million) and i-Parc 3 @ Bukit Jelutong (Industrial with GDV RM82 million). Together with these recent acquisitions, the group has projects with remaining GDV and unbilled sales of RM7.5 billion, out of which 59% is made up of residential projects while commercial and industrial projects make up 36% and 5% respectively. The lands are strategically located in the Klang Valley, Penang island and Johor Bahru.

Commenting on the acquisitions, Mah Sing’s Group Managing Director cum Group Chief Executive Tan Sri Dato’ Sri Leong Hoy Kum said, “We are building our pipeline for 2011 and beyond, as we have enough projects to launch and sell this year. We have the capacity and are always on the look-out to purchase good, sizable landbanks at prime locations. We do not have a set target on our land acquisitions for the year as we are very careful in our selection with our set of criteria such as excellent accessibility via network of roads and highways, good amenities, and a ready catchment.”

He added that these landbanks should last the Group for at least 6 years. Mah Sing Group was recently awarded the company with the Highest Compound Returns to Shareholders over 3 years during the inaugural The Edge Billion Ringgit Club awards.

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Posted Date: May 15, 2010 12:00 AM, By: iProperty.com
Blazing an iconic trail

Blazing an iconic trail

Exciting times lie ahead for Mah Sing group as revealed by its group managing director cum group chief executive Tan Sri Dato’ Sri Leong Hoy Kum during an exclusive interview with iProperty.com.  What started out as a small niche player in the industry has blossomed into a billion-dollar award-winning company known for its iconic designs.

 

  • Q: Please provide a brief of the ongoing projects in Malaysia under Mah Sing Group (Mah Sing) and their current take-up rate.

A: Mah Sing Group is a fully integrated developer with 25 residential, commercial and industrial projects in Malaysia’s hot spots, namely Kuala Lumpur, Klang Valley, Penang island and Johor Bahru. 

The Group has landbank gross development value (GDV) and unbilled sales of approximately RM6billion which provides earnings visibility for approximately 6 to 8 years.

For the first three months of the year, we had posted RM516million in sales, thus we are confident that we will be able to achieve our sales target of RM1billion for 2010. 

The sales momentum in 2010 has been boosted with the launch of our new projects namely iParc@ Bukit Jelutong, iParc@Shah Alam and Perdana Residence 2 in Selayang as well as the preview for Garden Residence in Cyberjaya.  The show units for Perdana Residence 2 has just been completed and unveiled to approximately 500 privileged guests on 13 March 2010.  We received positive feedback on the designs, layout and finishes, and we are now eagerly looking forward to presenting the show village in Garden Residence.  Comprising 10 show houses and a sales gallery, we target to open the show village to the public by the first half of 2010

 

  • Q: What are the group’s upcoming projects and what are their unique selling points?

A: Our launches for 2010

Project

USP

Klang Valley Residential

One Legenda in Cheras

  • 26 units exclusive bungalows with large built-ups from 6,000 sq ft and land size of 8,000 sq ft
  • Gated and guarded, private lap pool for individual units
  • Next to Hulu Langat Forest Reserve

Garden Residence in Cyberjaya

  • 2 and 3- storey superlink homes and semi-detached homes and bungalows
  • Gated and guarded self-contained mini-township including a clubhouse and various facilities and amenities

Garden Plaza in Cyberjaya

  • Modern serviced suites
  • Retail shops
  • SOHO suites

 

Perdana Residence 2 in Selayang

  • 3-storey superlink homes with high ceilings of 12 feet, six en-suite bedrooms and two utility rooms, a wet and dry kitchen and is equipped with a smart home alarm system.
  • Gated and guarded , with a red ribbon park

Icon Residence@Mont’ Kiara

  • 1st garden-themed resort serviced suites in the Klang Valley
  • Semi and fully furnished units from 850 sq ft onwards

Bayu Sekamat in Hulu Langat

  • Freehold project featuring double-storey link homes
  • 5 minutes from Kajang town

Klang Valley Commercial & Industrial

Icon City, Petaling Jaya

  • Finalising project plans

 

iParc@Bukit Jelutong

  • Customizable 3-storey factories

 

iParc2@Shah Alam,

  • Customizable 3-storey factories

 

Penang Residential and Commercial

Legenda @Southbay

  • Exclusive designer bungalows from RM3.5million

Southbay City in Batu Maung, Penang island.

  • Serviced residences

 

Existing projects


Hijauan Residence in Cheras
  • Launching Phase 3 i.e.  Garden Villas
  • 1st phase of linked semi-d completed with CF

Aman Perdana in Meru-Shah Alam

  • Linked semi-d Type B3
  • Type Ea2 bungalows
  • Shops

 

Southgate

  • Retail and office units

StarParc Point

  • 3-storey shops, retail and office units

Residence @Southbay

  • Superlink homes

Sri Pulai Perdana 2 in Johor Bahru

  • Double-storey link homes, double-storey linked semi-d, shop offices

 

Sierra Perdana in Johor Bahru.

  • Double-storey link homes, double-storey linked semi-d, shop offices

 

Austin Perdana in Johor Bahru

  • Mixed township development

 

  • Q: Icon Residence sends a very bold message in design. Is the market prepared for unconventional design and is this the beginning of many more ‘iconic’ properties to come from Mah Sing?

A: The Icon Residence Mont Kiara boasts a state-of-the-art architecture, first of its kind in Klang Valley. It has a Mediterranean feel and is conceptualized as "luxury garden terraces in the sky". Its tower blocks are interspersed with landscape and water features, whilst also integrating elements of the sun, sky and scenic greenery into a three dimensional lattice of terraces, gardens and living spaces. There is keen interest in the project as we have had more than 3,000 registrants since initiating a registration campaign in early January.  

This is not Mah Sing’s first foray into developing iconic buildings. We had successfully completed our flagship 20-storey commercial development, The Icon Tun Razak last year which was the first and only office building in Malaysia to be accorded the stringent CONQUAS award. The Grade A office building was conceptualized by world renowned architects. 

We have a strong research and development team, hence we are very in tune with market needs and trends. We believe that our projects should always enhance and add value to our surroundings, hence we strive to build iconic buildings which have also to be practical to cater to the needs of our buyers.

      

  • Q: How does Mah Sing view the increase in BLR and its impact on property buying appetite? Are there any special buying incentives from Mah Sing that will be launched?

A: The interest rate hike so far is only 25 basis points which is still far below historical high.  Affordability is still high and we don’t think that the rate hike shall have any adverse impact on property sales.  Furthermore, this rate hike should be seen as positive, as it indicates a normalization which can curb inflationary pressures.  

Going forward, we believe that the expected economic expansion, improvement in employment market and Malaysians’ high savings will contribute to higher demand for properties in the coming months. 

As a caring developer, Mah Sing has consistently offered special incentives to benefit our buyers such as our 5/95 package in 2009. And this year, we will continue to do so.  For some of our projects, we are absorbing the legal fee and disbursements for Sale & Purchase Agreements and we will also absorb the legal fees, stamp duty and disbursements for loan agreements.

  • Q: Mah Sing started 2010 with a land acquisition spree. What is the group’s strategy on this and how many more acquisitions can we expect for the rest of the year?

A: As at end March, we have acquired two pieces of commercial land totalling 25 acres with GDV of RM432 million. The first acquisition was in Shah Alam to cater to spill-over demand from our industrial development at iParc@Bukit Jelutong. The project, known as iParc2@Shah Alam will be used to develop customisable three-storey factories and we have already seen strong interest. The second purchase of land was in Cyberjaya which is adjacent to our residential development, the Garden Residence. The commercial development, named Garden Plaza will consist of lifestyle retail and modern service suites.

Armed with a strong balance sheet with zero net gearing, we have the capacity and are always on the look-out to purchase good, sizable landbanks at prime location. We do not have a set target on our land acquisitions for the year as we are very careful in our selection with our set of criteria such as excellent accessibility via networks of roads and highways, good amenities and a ready catchment.

  • Q: Are there any updates on the group’s foray into the China market?

A: In December 2009, we signed a Letter of Intent to develop a mixed development project in Wujin district in Changzhou, Jiangsu province in China. We target to launch the project next year.

 

  • Q: How does Mah Sing Group position itself in the property market? Please explain the brand.

A: Mah Sing has 16 years of property development expertise, and our niche is in developing award winning projects with good concepts in prime locations.  We are a premier lifestyle developer, and our expertise is in innovative product development, high quality finishing, as well as timely delivery of our products which surpass our buyers’ expectations. Our unwavering commitment to our brand promises has garnered us recognition and top accolades on both the local and global arena. We are also one of the very few developers in the country which is able to offer a full range of properties namely residential, commercial and industrial.

Our vision is to be a world-class regional developer. We will do that by building exceptional spaces and creating premier lifestyles. We want to be the industry leader in iconic architecture and we want to feature the largest and most complete collection of residential, commercial and industrial properties.

 


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Posted Date: January 13, 2010 12:00 AM
Property buyers home in on Mah Sing’s Garden Residence and Perdana Residence 2 projects

Mah Sing Group Berhad’s soon-to-be-launching residential projects, Garden Residence in Cyberjaya and Perdana Residence 2 in Selayang drew strong interests during a preview for both projects. Large crowds turned up and even queued for hours before the start of the previews aimed at briefing buyers on the project concepts and product features.

 

Mah Sing Group Berhad’s group managing director Tan Sri Dato’ Sri Leong Hoy Kum said, “We shall replicate and refine the development theme for both Garden Residence and Perdana Residence 2. As with all Mah Sing’s residences, the homes shall enjoy quality specifications, making them practically renovation free.”

 

Garden Residence in Cyberjaya comprises of two and three-storey superlink homes, two and three-storey semi-dees and three-storey bungalows. Mah Sing said in a press release that more than 500 potential buyers turned up on the first day of the preview with many registering their interest to buy upon its launch. The entire weekend saw more than 1,500 people at the preview.

 

Tan Sri Dato’ Sri Leong said, “We knew there was demand for the properties, but the response was just overwhelming. The overwhelming response to the preview signifies that we have planned the right product mix that would be well accepted when launched.”

 

The preview of Garden Residence is held at the Cyberview Lodge Resort & Spa until 17 Jan 2010. Indicative pricing for the homes are from RM738,800 for the double storey superlink homes (from 2,845 sq ft built-up), from RM843,800 for the three-storey superlink homes (from 3,715 sq ft built-up), from RM964,800 for the double storey semi detached homes (from 3,076 sq ft built-up), and from RM1,088,800 for the three-storey semi detached homes (from 3,683 sq ft built-up). Meanwhile, the three-storey bungalows are indicatively priced from RM1.8 million and have built-up from 4,514 sq ft.

 

Perdana Residence 2 preview was for the Phase 1 three-storey superlink homes with land sizes of 22ft/34ft x 80ft. Built-ups of the homes are from 3,182 sq ft and 3,400 sq ft and indicative pricing starts from RM828,000. The project gallery can be viewed on the second floor of Mah Sing Group’s headquarters along Jalan Sungei Besi.

 

 


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Posted Date: December 22, 2009 12:00 AM
Mah Sing Group invited to make more investments in Jiangsu, China

Jiangsu party secretary Liang Bao Hua paid a visit to Mah Sing Group Berhad in Kuala Lumpur inviting the property developer to explore further opportunities in Jiangsu province China. On early December 2009, Mah Sing Group signed a letter of intent to develop a mixed property development project in Wujin district, Changzhou, Jiangsu province, China.

 

Tan Sri Dato’ Leong Hoy Kum, group managing director of Mah Sing Group Berhad, briefed Liang during the meeting on the group’s investment in Jiangsu and introduced Mah Sing Group. Xue Yong Zhe, president of DanLong Realty (Beijing) Co Ltd, Mah Sing Group’s joint-venture partner in Jiangsu, China, was also present during the meeting.

 

In an issued press release on 22 December, Mah Sing Group said, “Secretary Liang warmly welcomed Mah Sing’s entry into Wujin and suggested that the Group develop not only residential projects, but also commercial projects including offices, and projects to support the logistics and service industry such as hotels. He highlighted the viability of exploring the coastal areas of Jiangsu where there can be more investment opportunities due to their current development status.”

 

Tan Sri Dato’ Sri Leong said, “We are confident of creating an outstanding development providing unique lifestyle experiences which will transform the way people live, work and play in Wujin. We are committed to bringing Mah Sing’s hallmark quality, from masterplanning and design, to construction and successful completion to our project in China. Due to our recognition and track record, we have a strong international network that we can tap on.”

 

Mah Sing Group Berhad recently raised RM97.645 million from a private placement exercise of which about RM81 million will be used for the subscription of new shares in a company in China for the purpose of acquisition of land use rights in Wujin to develop the mixed property development project.


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Posted Date: December 15, 2009 12:00 AM, By: Simon Phun
Mah Sing Group builds commercial empire

Mah Sing Group builds commercial empire

Malaysian property developer Mah Sing Group Berhad maiden foray into commercial property development started in 2007 with the aptly named The Icon at Jalan Tun Razak, Kuala Lumpur. The following years each saw the launches of Southgate Commercial Centre and now the group’s latest project StarParc Point. Mah Sing Properties Sdn Bhd deputy chief officer Andy Chua talks to iProperty.com on the company’s plans.

“The vision is to develop Mah Sing Group into a regional developer and in order to be a successful one, there is a need for the group to be involved in commercial projects. The group has gone into the first commercial project in 2007 and since then this segment have been contributing about 50 percent of the group’s turnover,” says Andy Chua, deputy chief officer of Mah Sing Properties Sdn Bhd, the property development arm of Mah Sing Group Berhad.

In 2007, Mah Sing Group launched The Icon, the developer’s first commercial project. Located at the prime area of Jalan Tun Razak, Kuala Lumpur, it is a 20 storey Grade A office development which construction has just been completed at the end of September 2009. The Certificate of Fitness for The Icon has already been issued.

The Icon’s West Wing has been bought up by Koperasi Permodalan Felda (KPF) while the East Wing is sold to Prompt Symphony Sdn Bhd. Prompt Symphony is a special purpose vehicle set up by Altron Corp Ltd and Kuwait Finance House. This puts half of The Icon in foreign ownership.

Second commercial development

Moving on to early 2008, Mah Sing launched the Southgate Commercial Centre which is scheduled to be completed end of 2010. Located at the busy Sungai Besi arterial road and incidentally just opposite the group’s headquarters, the commercial development is close to 90 percent sold for the three blocks which are offered to individual strata holders. Meanwhile, the corporate block which has about 232,000 sq ft of floor space was sold en bloc to KPF.

“Another block at Southgate Commercial Centre called Apex Tower which is slated for en bloc sale has received strong interest and is expected to be sold soon,” adds Chua.

Southgate Commercial Centre spans five modern contemporary designed blocks that is a mix of office suites, corporate towers and lifestyle retail outlets. The entire project has a total net lettable area of 600,000 sq ft. The five blocks at Southgate Commercial Centre are connected by an atrium boulevard that forms an ideal space for specialty retail, boutiques and kiosks.

“The concept of Southgate Commercial Centre’s atrium boulevard is designed towards more alfresco dining. Ground floor retailers are mainly for food and beverage outlets and we are working towards bringing in popular outlets from all over the world like Hong Kong, Shanghai, Taiwan, Singapore and such. We envision that it becomes a dining destination where people will come for the food.”

On the subject of foreign investors in the project, Chua says that more than 20 percent are taken up by them for the stratified units. He added that from the roadshows in London, Hong Kong and Singapore, foreign interests are strong as it is very rare that they are given the opportunity to own office suites in Kuala Lumpur. 

Latest commercial foray

Chua says, “Mah Sing’s third commercial project is StarParc Point which is located at the intersection of Jalan Genting Klang and Jalan Ibu Kota. This particular stretch of Jalan Genting Klang is particularly busy. In addition, the development is on freehold land which makes it a very good investment opportunity. Its surrounding area is mostly leasehold land.

“Buyers get value and visibility from StarParc Point from its freehold status in a generally leasehold area and high traffic volume.”

According to Chua, during the time of the interview (3rd week November) more than 70 percent of the value of StarParc Point has been realised. The total gross development value of the project is RM128 million and the project is scheduled to be launched during the first week of December 2009.



StarParc Point is a mixed commercial project comprises of three-storey shopoffices and six-storey retail offices. On the inside of the development is a Lifestyle Square that is covered with a translucent roof which design lets in natural lighting and cool breeze.

According to Chua, unlike Southgate Commercial Centre, StarParc Point caters to small and medium entrepreneurs (SMEs).

“Setapak is traditionally an area for TAR College where there are a lot graduates who have a tendency to stay in the area even after completing their studies. There is a large pool of young entrepreneurs who will see StarParc Point as a good venue to operate their businesses in a specially-designed modern, conducive, trendy environment,” says Chua.

Chua points out that wired broadband infrastructure are provided for at StarParc Point where CAT5 networking points are installed into the offices there.

Future project

In early November 2009, Mah Sing Group announced that they have acquired a 19.6-acre piece of land in SS9 Petaling Jaya. The developer paid RM89 million for the former factory land of Panasonic Electronic Devices (M) Sdn Bhd.

There are plans by the property developer to develop the land into a commercial hub comprising of shopoffices, semi-detached offices, Small Office Home Offices (SOHOs), retail units and a hotel. According to the announcement on Bursa Malaysia, the gross development value of the project is RM838 million and it will be developed over five years.

Chua reveals that Mah Sing will be having their first retail mall as a part of the SS9 development. “It will not be like a traditional mall, but something more unique and very contemporary. It will be a very ‘now’ type of mall and we are confident that once the design concept is unveiled, everyone will be taken aback,” adds Chua.

He elaborates, “Mah Sing is a premier lifestyle developer and we always look into innovation of lifestyle projects. We go all over the world to study the new projects by premier developers and bring back ideas. For this (SS9) project, we are taking cue from Asia and Europe. More details will be revealed in 1H 2009.”

Green vision

 In the Budget 2010 announcement, the government has backed the Green Building Index (GBI) by Persatuan Akitek Malaysia and the Association of Certified Engineers Malaysia. Tax exemption on the additional cost to ‘green’ a property will be given to building owners or developers who obtain GBI certification between 24 October 2009 and 31 December 2014. Apart from that, first time buyers of buildings with GBI certification from developers will get to enjoy stamp duty exemption.

Chua shares his thoughts on this move, “With the GBI, we will be able to design and build green projects to promote sustainability in the built environment. With the tax breaks as indicated in Budget 2010, we will be benefitted of not only saving long-term operational expenses but also the upfront building cost. The buyers of our green project are also eligible for stamp duty exemption. This can be one of our marketing incentives.”

In addition Chua opines that all developers should implement as much green features into their buildings as much as possible regardless if they try and obtain green certifications or not.

“The SS9 development will be a world-class integrated commercial and the GBI is a main consideration. But it is not determined whether we will go for the GBI, Green Mark or even Leadership in Energy and Environmental Design (LEED). It will be a green project and we will minimise as much as possible the carbon footprint and look into energy efficiency,

“Investors generally look for value-for-money properties, but for foreign tenants might have a directive from their corporate headquarters to only rent offices that are green to fit into their green philosophy. Therefore it makes sense for owners and developers to incorporate green features in their properties to reach a wider net of tenants,” adds Chua.

Into the future

“Mah Sing Group is actively pursuing projects in Vietnam, China, Indonesia and more. It is as long as the opportunity presents itself and the conditions are right. Although we are a fast growing developer, we are also prudent as we do not simply take on high risk projects unless we are very sure that we can manage the risk and give returns to our shareholders,” says Chua.

Currently, the developer does not have any landbank or immediate development projects overseas. On the local front, however, Mah Sing has recently acquired 26 acres land in Selayang, 12.9 acres land in Shah Alam and the aforementioned Petaling Jaya land.

Chua adds, “Again, we are very prudent when it comes to buying land so any land that we buy means that it is very attractive as we would have done a thorough evaluation.”

“Moving on to the next year, we expect the market to pick up and even now we can see that the market is stabilising. Projects like StarParc Point and Southgate Commercial Centre have good take ups, while our residential projects in Penang and the Klang Valley have also seen similar good results.

“Purchasers will continue to have access to good projects. After this cycle of financial crisis, developers will realise that they need to improve their product offerings to the market to capture the market. Mah Sing will continue to innovate and add value to our projects. We will continue to enhance value of our commercial projects and also ensure sustainable yield.

“For example, we already have a retail consultant on board to have a good mix of tenants at the soon-to-be completed Southgate Commercial Centre. This keeps the value of the property high. The same goes for StarParc Point when we introduced bubble lifts and the covered Lifestyle Square so that rain or shine, night or day, activities within the inside of the development will still thrive.

“To sum our outlook for 2010, purchasers should buy property now as prices will go up, so will the economy, material costs, and even loan lending rate. Signs are pointing towards an upward trend,” sums Chua.



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Posted Date: September 14, 2009 12:00 AM, By: Simon Phun
Southgate Commercial Centre by Mah Sing Group Berhad

Southgate Commercial Centre by Mah Sing Group Berhad

Thematic commercial district in the heart of town

With its hotspot location and architectural excellence, it is no wonder that Mah Sing Group Berhad’s Southgate Commercial Centre is voted the Best Office Development in Malaysia with a five stars rating in CNBC Asia Pacific Property Awards 2009.

Mah Sing deputy chief operating officer Andy Chua says, “We together with our purchasers are proud to receive these awards and be recognised for our development on yet another international platform. The award also serves as a testament to the expertise and high standards of Mah Sing as a quality conscious and reliable developer in both commercial and residential developments.”

The project spans five modernisque blocks that balances a mix of office suites, corporate towers and lifestyle retail outlets. Its envious location along Jalan Tun Razak/Jalan Sungei Besi draws high visibility from more than half a million passing traffic daily and is only 10 minutes away from the Kuala Lumpur City Centre.

Southgate also benefits from extensive accessibility to the Mahameru Highway, BESRAYA Highway, Federal Highway, Kesas Highway, MRR2 Highway, SMART Tunnel as well as major arterial roads like Jalan Chan Sow Lin, Jalan Istana, Jalan Loke Yew and Jalan Dua.

“We believe in creating office spaces based on consumer preferences and needs whilst at the same time maintaining a strong architectural visual appeal, theme and concept which in turn propagates a new premier commercial lifestyle with a vibrant atmosphere for businesses to prosper and patrons to savour,” adds Chua.

Southgate appeal

The entire Southgate Commercial Centre project comprises of three stratified retail office blocks, a Corporate Building and Apex Tower totalling a net lettable area of 599,000 sq ft. Response has been overwhelming with 90 percent of the three retail office blocks sold while its Corporate Building with a net lettable area of 232,000 sq ft has been sold enbloc. This leaves only its Apex Tower with a net lettable area of 90,000 sq ft earmarked for enbloc sale.

Fused with modern contemporary design, Southgate has an urbanite atmosphere. Floor to ceiling windows mixed with clever use of glass in the building façade draws natural light. High ceilings for both its retail lots and office suites further embody classy finishing evident throughout the project.

Chua says, “The Group is targeting corporate as well as high net worth customers, including professionals, investors and entrepreneurs as Southgate is suitable for difference business ventures.”

Southgate’s three retail office blocks are connected by an atrium boulevard that forms a backbone for specialty retail comprising alfresco cafes, designer boutiques and quaint kiosks. Other features of the commercial project includes high-speed wireless broadband infrastructure, smart air-conditioning system, active and passive security, and beautifully sculpted landscapes with water features.

Chua opines that due to its prime address and ease of accessibility, law firms, consultancies, creative agencies, niche boutiques, food and beverages outlets as well as banks could make their home in Southgate.

“Capital appreciation is expected to be very high while rental yield is forecasted to exceed eight percent per annum,” he adds.

Completion of Southgate Commercial Centre is expected to be in early 2011. For more information about the award-winning project, log on to www.southgate.com.my.



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Posted Date: August 13, 2009 12:00 AM
Mah Sing subsidiary to sell Southgate block for RM226 million

Jastamax Sdn Bhd, a wholly-owned subsidiary of Mah Sing Group Berhad, proposed the sale of an 8-storey block of retail and office space together with two basement levels of carpark within Southgate to Koperasi Permodalan Felda Berhad (KPFB) for RM226 million.

 

In addition to the sale, there is a two-year leaseback tenure agreement. KPFB will leaseback the 8-storey retail and office space to Jastamax with the latter guaranteeing rental returns for that period.

 

Southgate was awarded five stars for ‘Best Office Development Malaysia’ in the Asia Pacific Property Awards 2009 sponsored by CNBC Arabiya.


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Posted Date: August 13, 2009 12:00 AM
Mah Sing to develop RM690 million Cyberjaya project

Mah Sing Group has acquired 115.25 acres of prime freehold land in Cyberjaya for the purpose of developing medium to high end residential as a part of the Group’s Residence series.

 

The RM690 million gross development value Garden Residences project is envisioned to be a self-contained mini-township with a clubhouse. Two- and three-storey superlink homes with 2,800 sq ft built up onwards will be priced from RM668,800 whole two- and three- storey semi-detached homes with 3,000 sq ft will be priced from RM798,000. Meanwhile, 3,700 sq ft two- and three-storey bungalows will be priced from RM1.4 million onwards.

 

Managing director and CEO Tan Sri Dato’ Leong Hoy Kum said that there is a great demand for gated and guarded landed properties with good concepts and themes that brings good value. He cited that even RM1.5 million semi-detached homes in Putrajaya have seen good take-up although they are not gated and guarded.

 

“Our project offering, complemented with extensive soft and hard landscaping, clubhouse and various facilities and amenities will do very well,” he said.

 

Leong added that together with Garden Residence project in Cyberjaya, Mah Sing Group has a total of 17 projects with remaining GDV and unbilled sales of approximately RM4.4 billion in the Klang Valley, Penang island and Johor Bahru.

 

So far this year, Mah Sing Group has achieved RM543 million sales exceeding its full year target by 1.2 times. Unbilled sales stood at RM800 million.

 

 


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