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KUALA LUMPUR (Aug 23): Property developer Mah Sing Group Bhd won two silver awards at The Edge Billion Ringgit Club Awards 2017 on Monday — for the Highest Profit Growth Company and the Most Profitable Company in the property category.
The Highest Profit Growth Company award tracks the growth of a company's profit after tax over a period of three years, while the Most Profitable Company award acknowledges a company's growth in weighted return on equity (ROE), also for the same period.
Mah Sing has reported an asset turnover ratio of 49% on average for the past five years. It also achieved ROE of 14% on average over the past five years, compared to peer average of 9% to 10%.
Mah Sing's chief executive officer, Datuk Ho Hon Sang, said that ultimately the group aims to enable everyone to own a home.
"This year has indeed been a busy and exciting year for us and we hope to continue our momentum to achieve greater success.
"At the same time, we will continue to work towards coming up with more innovative campaigns to ease home ownership and develop properties that fit into the market demands," Ho added.
For the first quarter ended March 31, 2017 (1QFY17), the company registered a net profit of RM90.42 million. Revenue for 1QFY17 stood at RM723.5 million.
Mah Sing's share price closed yesterday at RM1.55, down 2 sen or 1.27%. Its current market capitalisation stands at RM3.76 billion. — theedgemarkets.com
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