Latest news with #RM1.01
New Straits Times
06-07-2025
- Business
- New Straits Times
Mah Sing property sales on track for RM2.65bil target
KUALA LUMPUR: Mah Sing Group Bhd's sales momentum is expected to remain steady, supported by its latest township, M Legasi in Semenyih, MIDF Research said. Mah Sing continues to record strong sales, securing total new property sales of RM1.01 billion in the first five months of the financial year ending Dec 31, 2025. The research house said the company remains on track to achieve its full-year new sales target of RM2.65 billion, supported by its affordable housing-focused M Series projects. "We expect M Series projects, which are priced within an affordable range, to continue sustaining new sales momentum. "Aside from M Legasi in Semenyih, planned launches in the second half of financial year 2025 (2HFY25) include Meridin East in Johor Bahru, M Tiara 2 & Tiara Hills in Johor Bahru, M Grand Minori in Johor Bahru, M Aurora in Old Klang Road, M Aria in Sentul, M Zenni in Southbay City Penang and Icon City 2 in Petaling Jaya," it said. Under the master plan concept, M Legasi will be developed into three precincts: Impira precinct on 100 acres of land, Adiya precinct on 93 acres of land, and Embun precinct on 287 acres of land. MIDF Research noted that Phase 1A and 1B in the Impira precinct, which consist of 330 individual-titled two-storey terrace home units, have recorded an encouraging take-up rate of 80 per cent. "We believe the decent take-up rate was due to the affordable pricing starting from RM635,000," it said. Overall, the firm has maintained its earnings forecast for Mah Sing for financial year 2025 (FY25), financial year 2026 (FY26), and financial year 2027 (FY27). The firm has also maintained its "Buy" call on the stock with an unchanged target price of RM1.37. "We maintain our Buy call on Mah Sing due to the stable new sales outlook, which is underpinned by launches of affordable residential projects. Meanwhile, dividend yield is decent at 3.9 per cent," it added.
New Straits Times
19-06-2025
- Business
- New Straits Times
Malaysia's data centres unlikely affected by Nvidia chips uproar
KUALA LUMPUR: Malaysia's fast-growing data centre industry remains on track despite reports that Chinese firms may be using servers with Nvidia chips in the country to train AI models, MIDF Research said. The firm said the chips are likely older versions, and not the latest GB200 chips restricted by the US for export to China. It added that data centre projects are continuing without delay, with contractors still actively bidding. Recent developments include Gamuda selling land in Port Dickson, Negri Sembilan to Google-linked Pearl Computing and winning a RM1.01 billion contract for data centre works. Sunway Construction secured a RM1.16 billion job from a US tech firm, while Microsoft reaffirmed a RM10.5 billion investment in artificial intelligence (AI) and cloud infrastructure in the Klang Valley. MIDF Research pointed out that not all data centres in Malaysia are built for AI, although many are AI-ready. For instance, YTL Power allocated only 100 megawatt (MW) for AI use at its 500MW facility in Kulai, Johor. Investment, Trade and Industry Ministry is looking into claims that a Chinese firm is using Nvidia-powered servers in Malaysia to bypass US chip export restrictions, as reported by the Wall Street Journal. The ministry said the servers involved are not classified as controlled items under Malaysia's Strategic Trade Act 2010, and local data centres are free to operate if they comply with local laws. However, it stressed that any attempts to circumvent trade controls or engage in illegal activities will not be tolerated. The ministry also reaffirmed Malaysia's adherence to global trade rules and urged companies to comply with export controls in international dealings to avoid secondary sanctions. Amid rising US-China tech tensions, Malaysia aims to remain neutral but is still pushing ahead with plans to become a key AI hub in Southeast Asia, as outlined by Prime Minister Datuk Seri Anwar Ibrahim. AI development depends heavily on powerful chips and large-scale data centres. Malaysia's data centre market is expected to grow from US$4.04 billion (RM17.2 billion) in 2024 to US$13.57 billion (RM57.8 billion) by 2030, according to the Malaysian Investment Development Authority.
The Star
17-06-2025
- Business
- The Star
Mah Sing named in Fortune SEA 500 list for second year
KUALA LUMPUR: Mah Sing Group Bhd has been recognised as one of the region's leading companies, earning a place in the Fortune Southeast Asia 500 List for the second consecutive year. In a statement today, the property developer company said this recognition underscores Mah Sing's continued regional prominence and its proven track record in delivering sustainable growth, operational excellence, and customer-focused developments. Its founder and group managing director Tan Sri Leong Hoy Kum said the recognition is a testament to the team's commitment, the brand's strength, and the confidence customers have in the company. "As we celebrated our 30th anniversary last year, we remain focused on creating value for the Malaysian homebuyers and contributing to the nation's growth through quality developments,' he said. For the financial year ended Dec 31, 2024, Mah Sing recorded a revenue of RM2.52 billion, reflecting the group's ability to navigate market conditions through disciplined execution, strategic product offerings, and a focus on operational efficiency. The company also achieved RM1.01 billion in new property sales during the first five months of 2025, compared to RM992 million achieved in the same period in the preceding year. "This growth is driven primarily by the continued strong take-up of its 'M Series' affordable homes, which offer strategic locations, practical layouts, and competitive pricing to meet the needs of Malaysian homebuyers,' Mah Sing added. - Bernama
New Straits Times
17-06-2025
- Business
- New Straits Times
Mah Sing enters Fortune Southeast Asia 500 list second time
KUALA LUMPUR: Mah Sing Group Bhd has once again been named to the Fortune Southeast Asia 500 list, which recognises the region's largest companies by revenue for the 2024 fiscal year. This marks the second consecutive year the home-grown property developer has earned the accolade, a testament to its sustained regional impact and strong performance in delivering sustainable growth, operational excellence, and customer-focused projects. For the financial year ended Dec 31, 2024 (FY2024), Mah Sing recorded RM2.52 billion in revenue, demonstrating its resilience amid market challenges through disciplined execution, efficient operations, and strategic product offerings. In the first five months of 2025, the group achieved RM1.01 billion in new property sales, up from RM992 million during the same period last year. The growth is largely attributed to continued strong demand for its M Series affordable homes, which are known for practical designs, competitive pricing, and strategic locations. As a home-grown developer, Mah Sing is committed to building homes that meet the needs of Malaysians while continuing to grow sustainably, said the group's founder and group managing director Tan Sri Leong Hoy Kum. Mah Sing has nearly 65 projects across Malaysia and plans to launch over RM3.3 billion worth of new developments in 2025. The group has also maintained a 4-star rating in the Bursa Malaysia ESG Star Rating, ranking it among just six property developers with this recognition. Additionally, it is one of only four listed developers to be included in both the FTSE4Good Bursa Malaysia Index and the FTSE4Good Bursa Malaysia Shariah Index, reinforcing its position as a leader in ESG practices.
The Sun
12-06-2025
- Business
- The Sun
VS Industry feels impact of lower sales orders, higher expenses and unfavourable forex
PETALING JAYA: Electronics manufacturing services provider VS. Industry Bhd posted revenue of RM909.4 million for the third quarter ended April 30, 2025 (Q3'25) versus RM1.01 billion in the corresponding period a year ago. Parallel with the top-line performance, Q3'25 net profit stood at RM23.4 million, compared to RM54.4 million in the previous corresponding quarter. The company's performance was affected by lower sales orders from existing customers, higher operating expenses and unfavourable foreign exchange rates. On a quarter-on-quarter (q-o-q) basis, revenue was marginally higher at RM909.4 million compared to RM908.8 million. Nevertheless, Q3'25 net profit jumped 54.5% q-o-q to RM23.8 million from RM15.4 million, driven by lower operating expenses. Meanwhile, the group reported revenue of RM2.93 billion for nine months of FY25 (9M25), compared to RM3.03 billion in the prior year. Net profit for 9M25 was RM69.7 million, compared to RM119.4 million last year. This was attributed mainly to the factors cited above. Net foreign exchange loss in 9M25 stood at RM1.3 million, compared to a net gain of RM28.6 million in the corresponding period last year. Managing director Datuk SY Gan said the global business landscape, already weighed down by subdued consumer sentiment, inflationary pressures, and geopolitical tensions, faced further headwinds and volatility following a series of announcements in early April on revised tariff measures imposed on various trading nations, including Malaysia. 'The announcements resulted in specific customers adjusting their orders in response to the newly imposed tariff measures. The overall order flow situation in Malaysia and Singapore in the near term will be contingent upon the prevailing consumer sentiments and the evolving development surrounding tariff measures, primarily upon expiry of the 90-day grace period in early July 2025. 'Despite this, the group remains engaged with our customers on new product development programmes, and continues to pursue opportunities for recovery in the quarters ahead with the anticipated new model launches by some of our customers.' Meanwhile, Gan said, the group has commenced mass production in the Philippines and the utilisation rate will gradually increase towards the end of the year. 'Despite the external headwinds, we remain positive on the Group's long-term outlook, supported by a resilient customer base, strong vertical integration capabilities, sound financial fundamentals, and prudent cost and risk management,' he added. The board has declared a share dividend by distributing treasury shares on a one-for-every-125 existing ordinary shares basis.
