Mah Sing starts FY25 strong with 10% earnings growth
Revenue for the period rose 16% to RM649.69mil driven by progressive revenue recognition from ongoing construction projects.
In a filing with Bursa Malaysia, the property developer noted its property development segment posted higher revenue and operating profits of RM521mil and RM103.4mil respectively in the quarter.
'The group achieved RM1.01bil property sales for the five months of 2025,' Mah Sing stated.
Its manufacturing segment reported a revenue of RM113mil and an operating loss of RM1.3mil in 1Q25. This was in comparison to RM98.5mil revenue and operating profit of RM0.7mil recorded in the same quarter in the previous year.
Meanwhile, Mah Sing's revenue from its investment holding and other segments amounted to RM99.29mil in the period comprising mainly interest income from the deposit of funds, revenue from trading of building materials and hotel operation.
Looking ahead, Mah Sing said the new property sales of RM1.01bil in the first five months shows the group is on track to meet its full-year sales target of a minimum RM2.65bil in FY25.
The groups' latest acquisition of its first new land in Sentul, Kuala Lumpur, which has a gross development value of RM283mil and is expected to fuel Mah Sing future growth.
'The group will continue to identify strategic land opportunities for potential developments with efficient turnaround time,' it added.
Separately Mah Sing stated it is now welcoming new investor interest for its 17.55-acre freehold land in Southville City, Dengkil, following the expiry of the previous collaboration agreement with Bridge Data Centres Malaysia V Sdn Bhd (BDC).
This came about after Mah Sing was unable to get a clear commitment from BDC to proceed with the execution of a definitive agreement.
On May 30, 2024, the two parties had signed a collaboration agreement for the development of a data centre there.
The site — backed by ready infrastructure for up to 100MW power capacity — remains a strategic location for data centre development.
Mah Sing added it is open to exploring joint ventures, build-and-lease (BTL) models or outright land sale. Collaboration for a second data centre at a 35.7-acre site for a larger 200MW data centre remains under discussion, it said.
Mah Sing also remains open to engagement with other potential data centre operators.
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