Kuala Lumpur, 2025 – Mah Sing Group Berhad (“Mah Sing”) presented a confident outlook for the year ahead at its 33rd Annual General Meeting, underpinned by resilient performance across its core business segments, a robust financial position, and a firm commitment to sustainable development. With more than RM1 billion in sales recorded in the first five months of 2025 and a healthy pipeline of launches planned for the second half of the year, the Group remains focused on working towards its full-year minimum sales target of RM2.65 billion.

2024: A Transformational Year That Set the Stage for Mah Sing’s 2025 Sales Momentum

2024 marked a pivotal year for Mah Sing, laying the foundation for strong momentum in 2025. The Group secured six strategic land parcels across key regions, supporting new project launches and contributing RM5.8 billion in GDV. In early 2025, an additional land acquisition brought the total GDV to RM6.1 billion. These strategic moves helped drive RM2.26 billion in property sales for FY2024 and strengthened Mah Sing’s leadership in the affordable M Series segment. Backed by strong brand equity, well-located projects, and alignment with market demand, Mah Sing is well-positioned to sustain its growth trajectory and deliver long-term value across its residential, industrial, and data centre portfolios.

Following this performance, Mah Sing’s Founder and Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum, expressed optimism for the year ahead, noting the Group’s solid foundation and readiness to pursue long-term value creation. He highlighted the Group’s progress in preparing for data centre development, with a strategically located site that is now fully primed and supported by critical infrastructure readiness. He also noted the continued expansion of the manufacturing division, underpinned by a strong financial position and a consistent dividend policy. Tan Sri reaffirmed Mah Sing’s commitment to ESG adoption, product innovation, and strategic diversification, underscoring that these pillars will continue to drive resilience and sustainable growth in the years to come.

Building Long-Term Value Through Capital Discipline and Landbanking

Mah Sing’s long-term strategy remains anchored in sustainable capital management, operational excellence, and future-readiness. As of 30 May 2025, the Group maintained approximately RM1 billion in cash, bank balances, and short-term investments, with a low net gearing of 0.17x as of 31 March 2025. This strong financial footing provides allows Mah Sing to be agile in capturing land banking opportunities to replenish its development pipeline and support future growth. Reinforcing its commitment to capital discipline, Mah Sing paid a dividend of 4.5 sen on 26 May 2025, representing a 48% payout—well above its minimum policy of 40%.

Entering the second half of the year, Mah Sing continues to demonstrate operational and financial resilience. In the first quarter of 2025, the Group recorded a 16.4% year-on-year increase in revenue to RM649.7 million, while profit before tax (PBT) rose by 11.4% to RM91.4 million. Property sales remained strong, reaching RM1.01 billion in the first five months of the year. These results reflect the strength of Mah Sing’s product offerings, prudent financial management, and clear long-term focus on sustainable growth and shareholder returns.

Looking beyond financials, Mah Sing continues to future-proof its operations through digitalisation and technology adoption. The Group is actively enhancing its operational systems with automation and data integration, with a focus on AI-readiness in areas such as marketing, quality management and customer engagement. These efforts are designed to improve efficiency, accelerate decision-making, and strengthen competitiveness in a rapidly evolving landscape.

Over RM3.3billion planed new launches in 2H2025

Supported by an overwhelming response from homebuyers for its M Series developments, Mah Sing has paved the way for several M Series launches in 2H2025 and expects continued strong take-up rates.

Strong demand in the Central region continues with over 80% take-up for Phase 1A and 1B, Impira in M Legasi, Semenyih (GDV: RM3.3 billion). M Legasi’s new on-site show village was opened in June 2025. Upcoming launches include M Aurora in Old Klang Road (GDV: RM660 million), a transit-oriented development, and M Aria in Sentul (GDV: RM283 million). 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 (GDV: RM1.5 billion), 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 for customer in July 2025. Additional upcoming projects include Tiara Hills (GDV: RM463 million) and M Tiara II (GDV: RM1.45 billion), 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 with an estimated GDV of RM309 million 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.

Positioned for Growth in Malaysia’s Growing Data Centre Industry

Malaysia’s strategic neutrality and pro-investment policies make it a compelling hub for data centre investments. Mah Sing has made significant headway in this space with its dedicated 150-acre, 500MW building load data centre site at Southville City. The Group is actively looking out for new opportunities, including joint ventures, build-and-lease models, or outright land sales. Designed to be scalable for hyperscale and AI deployment, 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 center, reinforcing its commitment to high-growth digital assets.

Reinforcing ESG Leadership and Digital Readiness

In tandem with its growth plans, Mah Sing continues to advance its environmental, social, and governance (ESG) agenda. It recently became the first property developer in Malaysia to partner with Synergy ESCO (Synergy), a subsidiary of Hong Kong’s Unity Group, to implement ultra-high energy-efficient lighting solutions at five of its completed projects in the central region. A total of 37,963 energy-saving ESG Lights have been installed across developments including M Centura, M Vertica, Savanna, Cerrado, and Sensory Residence. This initiative is expected to generate electricity savings of more than 38.1 million kWh over a 10-year period — equivalent of the carbon absorption of approximately 721,356 trees. By reducing electricity use in common areas and lowering maintenance needs, the project delivers long-term cost benefits to residents while enhancing environmental responsibility.

This sustainability milestone reinforces Mah Sing’s continued ESG leadership. The Group maintained its 4-star rating in the Bursa Malaysia ESG Star Rating, placing it among just six property companies with this distinction. It is also one of only five developers in both the FTSE4Good Bursa Malaysia Index and the FTSE4GBM Shariah Index, highlighting its strong ESG leadership. This reflect the Group’s consistent efforts to integrate ESG principles into its business operations, product designs, and community engagements.

Manufacturing Division Poised for Growth Amid Regional Expansion and Innovation

Mah Sing’s manufacturing division continues to show strong potential, with the plastics divisions performing steadily and the Group’s expansion into the Jakarta market reinforcing 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.