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Tuesday, February 23, 2010

Mah Sing projects RM1b sales amid improving market

PROPERTY developer Mah Sing Group Bhd is projecting RM1 billion in sales this year based on its strong brand, innovative marketing strategies and its ability to offer quality properties in prime locations.

The company believes the property market is improving, reflected by stronger sales, better consumer sentiment and business conditions as well as rising household loan applications and approvals.

"Thus, the group is confident that we will be able to ride on these brighter prospects and continue to perform well into 2010," it said in a statement.

Mah Sing will continue to aggressively introduce its property projects this year, and among those slated to be launched are a commercial project in Petaling Jaya, One Legenda in Cheras, Garden Residence in Cyberjaya, Perdana Residence 2 in Selayang and Icon Residence@Mont' Kiara.
It also plans to launch more phases in existing projects like Hijauan Residence in Cheras, Aman Perdana in Meru-Shah Alam and Sri Pulai Perdana 2 as well as Sierra Perdana in Johor Baru.

It also targets to launch its first overseas project in Wujin, China, this year.

Mah Sing posted a 1.2 per cent increase in net profit to RM94.3 million for its financial year ended December 31 2009, attributed to its existing projects.

Revenue for the financial year rose 7.7 per cent to RM701.6 million against RM651.6 million before.

By Business Times