At the 33rd annual general meeting are (from left) Mah Sing executive director Datuk Steven Ng Poh Seng, founder and group managing director Tan Sri Leong Hoy Kum, group chief executive officer and executive director Datuk Voon Tin Yow and deputy group chief executive officer and executive director Lionel Leong Jihn Haur.
PETALING JAYA: Underpinned by strong performance and robust financial position, Mah Sing Group Bhd (Mah Sing) said it is confident of its outlook for the remaining 2025.
The strong demand in the central region, which continued with over 80% take-up for Phase 1A and 1B of Impira in M Legasi, Semenyih has fuelled this sentiment. Moreover, interest has poured in following the recent official opening of M Legasi’s new on-site show village.
Upcoming launches include M Aurora in Old Klang Road, a transit-oriented development and M Aria in Sentul. Ongoing projects in the region include M Nova, M Zenya, M Aspira, M Azura, M Terra and M Sinar.
In the southern region, Johor remains Mah Sing’s second-largest hub. The group is set to launch M Grand Minori, located just 3km from the Johor–Singapore RTS Link and near the Special Economic Zone. A three-storey sales gallery with show units will open in July 2025. Additional upcoming projects include Tiara Hills and M Tiara II, complementing ongoing developments include M Tiara, M Minori and Meridin East.
In the northern region, Mah Sing will launch M Zenni, a freehold mixed development in Batu Maung, Penang in Q4 2025. The group’s ongoing project, Ferringhi Residence 2, is expected to benefit from upcoming infrastructure upgrades, including the North Coastal Paired Road.
Making headway into the data centre sector, Mah Sing DC Hub@Southville City is already equipped with immediate access to 500MW building load power, supported by the Corporate Renewable Energy Supply Scheme (CRESS) for renewable energy, along with ready access to water and dark fibre connectivity. The group also has a 42-acre site in Meridin East, Johor Bahru, for a potential 300MW building load data centre, reinforcing its commitment to high-growth digital assets.
Mah Sing’s continued ESG leadership is demonstrated by its 4-star rating in the Bursa Malaysia ESG Star Rating, as well as being one of five developers in both the FTSE4Good Bursa Malaysia Index and the FTSE4GBM Shariah Index.
In the manufacturing division, the plastics divisions performed steadily and the group’s expansion into the Jakarta market reinforces its growth strategy and success in regional diversification.
The healthcare division is also expected to rebound in the second half of 2025, supported by the innovative Kinoko Hydrogel product developed through proprietary R&D. With a positive outlook for the manufacturing business, the group is focused on enhancing its business profile to maximize value ahead of a planned separate listing.
In the first quarter of 2025, the group recorded a 16.4% year-on-year increase in revenue to RM649.7mil, while profit before tax (PBT) rose by 11.4% to RM91.4mil. Property sales remained strong, reaching RM1.01bil in the first five months of the year.
As of May 30, 2025, the group maintained approximately RM1bil in cash, bank balances and short-term investments, with a low net gearing of 0.17x as of March 31, 2025.
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