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Tuesday, April 20, 2010

Mah Sing eyeing more land

Mah Sing Group Bhd is actively scouting for more land to meet market demand for its award winning property products.

The comany is boosting its business development activities to reach owners of land with good development potential for outright sales or joint ventures.

The lifestyle developer is also keen to participate in the government’s tender process for land to be developed by the private sector.

Its Group Managing Director and Group Chief Executive Tan Sri Leong Hoy Kum said: "We are interested in niche land in Kuala Lumpur’s Golden Triangle as well as the larger suburban property, suitable for township development, like the new 3,000-acre Klang Valley hub in Sungai Buluh.

"We are confident of adding value to the land and contribute positively by capitalising on our vast exposure, experience and success in property development as well as sound financial standing."

Mah Sing is one of the most aggressive developers on the local front and has consistently delivered good earnings with a strong compounded annual growth rate of 51 per cent from 2002 to 2009.
That, as well as a generous policy of paying out a minimum of 40 per cent of its net profit as dividend, has attracted prominent shareholders including Permodalan Nasional Bhd, Koperasi Permodalan Felda Bhd and the Employees Provident Fund.

The Group is committed to continuously protect and enhance shareholders’ value by capitalising on opportunities, be they land acquisitions from both the government and private sector, joint ventures or reviving distressed assets. The Group has 16 years of property development expertise, and is a fully integrated developer.

Mah Sing’s platter of 25 quality residential projects, prime commercial projects and innovative industrial projects, is focused on the medium to high end property segments in Malaysia.

Its forte is in developing award winning projects with good concepts in Kuala Lumpur, Klang Valley, Penang island and Johor Bahru. Leong said Mah Sing is very committed to delivering products that suit buyers’ needs in terms of designs, concepts, quality and value.

Mah Sing’s projects are lifestyle offerings featuring good security, to ensure that is lifts the quality of life for buyers.

This can be seen in the recognition from the public, investors and professional bodies, which have supported and helped it win 25 awards for both projects as well as corporate performance, since the Group ventured into property development.

The Group received four awards at the Asia Pacific International Property Awards 2010 in Hong Kong on last Friday night. This is the largest number of awards to be won by a single Malaysian developer this year.

Mah Sing Group was recognised for both residential and commercial properties, winning 5-Star Awards for Best Property (One Legenda,Cheras) and Best Architecture (Legenda@Southbay, Penang island), as well as the Highly Commended Award for the Grade A office, The Icon Jalan Tun Razak, in the Best Office Development category.

The exclusive bungalow project, One Legenda also had the distinction of being named Best Property Asia Pacific, and will represent Malaysia at the world level.

Mah Sing is also the first Malaysian company to be internationally nominated for the Best Property category.
The Asia Pacific International Property Awards 2010, established 16 years ago, seeks out the best real estate professionals across the globe.

Speaking proudly of the wins, Leong said: "Receiving awards at the regional level and to represent Malaysia and the Asia Pacific region on the global stage, reaffirms our status as a premier lifestyle developer.

"These awards have not only given us recognition but also encouragement to perform better," he said.

Moving forward, the Group will adopt the strategy of continuing its niche, quick turnaround development model for residential, commercial as well as industrial sectors, as it is profitable and cash generative.

The company intends to look for large landbank for a potential mass housing project and continue to explore overseas expansion to complement the Malaysian expansion.

By Bernama

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