Latest news with #MNova
New Straits Times
21-07-2025
- Business
- New Straits Times
Mah Sing tops out M Nova in Kepong, eyes completion by Q2 2026
KUALA LUMPUR: Mah Sing Group Bhd has marked a key milestone in the development of M Nova, its third residential project in Kepong, with the successful topping-out of the building structure. The project has reached 68 per cent structural completion and remains on track for full completion by the second quarter of 2026. Commenting on the achievement, Mah Sing's founder and group managing director, Tan Sri Leong Hoy Kum, said, "The topping-out of M Nova marks a significant milestone in our journey to deliver thoughtfully designed homes in thriving neighbourhoods. We are encouraged by the positive response from homebuyers, and with the project progressing well, M Nova only has limited units available for sale. This reflects the sustained demand for affordably priced homes in well-established areas such as Kepong and Selayang." He added that M Nova follows the success of Lakeville Residence and M Luna, further reinforcing Mah Sing's presence in the area: "This is our third residential project in the area, following the success of our earlier developments – Lakeville Residence and M Luna. We remain committed to delivering more value-driven homes with lifestyle features and excellent connectivity to homebuyers. Moving forward, we will continue to acquire strategic land banks to expand our M Series and meet the evolving needs of urban dwellers." With a gross development value (GDV) of RM790 million, M Nova is a mixed-use development comprising three blocks of serviced residences. Unit sizes range from 700 to 1,000 sq ft, offering 2-, 3-, and 4-bedroom layouts. The project also features 11 retail lots, including a drive-thru retail concept, enhancing convenience for both residents and the surrounding community. Yeoh Chee Beng, chief executive officer of Mah Sing's property subsidiaries, noted that M Nova is designed for modern urban lifestyles. He said that M Nova caters to first-time homebuyers, young families, and professionals seeking practicality, comfort, and connectivity. "Each unit features a practical layout that maximises both space and functionality. Complementing the residences are over 20 curated lifestyle facilities, including a reflexology garden, outdoor fitness zone, badminton court, pool deck and co-working spaces. These offerings reflect our commitment to building quality, community-focused homes that support modern living." Mah Sing also celebrated a key safety milestone, having achieved over 3.5 million man-hours without any lost-time injury (LTI). This reflects the company's strong commitment to safety, quality, and responsible construction practices, supported by its health, safety, and environment team, which regularly conducts site safety briefings and awareness programmes. Strategically located in Kepong, M Nova enjoys excellent connectivity via three major highways - MRR2, DUKE Expressway, and Jalan Kuching - offering residents seamless access to the Kuala Lumpur city centre and surrounding areas.
New Straits Times
03-06-2025
- Business
- New Straits Times
Mah Sing's growth intact despite data centre delay
KUALA LUMPUR: Analysts remain upbeat on Mah Sing Group Bhd's outlook, citing steady property sales and resilient fundamentals, despite the company missing a deadline to formalise its data centre (DC) deal with Bridge Data Centres (BDC). RHB Investment Bank, CIMB Securities, Hong Leong Investment Bank (HLIB Research), and BIMB Securities have all maintained their "Buy" or "Add" calls, citing the group's solid fundamentals and long-term growth prospects. RHB Investment, which trimmed its target price to RM1.83 from RM2.16, said Mah Sing's first-quarter results were within expectations and highlighted the potential of its Southville City land in Bangi as a strategic DC location. "Although Mah Sing did not sign the definitive agreement with BDC within the required timeline, the land remains highly strategic," it said. CIMB Securities, which lowered its target price to RM1.90 from RM2.10, said the lapse in exclusivity now allows Mah Sing to pursue discussions with other parties. The firm said Mah Sing "remains committed to unlocking value from its sizeable landbank." BIMB Securities echoed the positive sentiment, citing RM1.01 billion in property sales in the first five months of 2025, driven by strong take-up rates at projects such as M Nova and M Legasi. It set a target price of RM2.02. HLIB Research noted that unbilled sales of RM2.73 billion provide earnings visibility into 2025 and revised its target price to RM1.85 from RM2.05. Mah Sing has lined up RM3.3 billion worth of new launches this year and is on track to achieve its full-year sales target of RM2.65 billion. Despite the BDC setback, analysts said the stock offers strong upside potential, with RHB Investment estimating a total return of nearly 84 per cent, including dividends. "Investors should look beyond the noise and focus on Mah Sing's proven execution and product-market fit," the firm said.
