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Matrix Concepts eyes RM1.04b new launches in FY21

KUALA LUMPUR (Oct 1): Property developer Matrix Concepts Holdings Bhd is eyeing new launches worth RM1.04 billion for the financial year ending March 31, 2021 (FY21).

In a statement today, the group said it launched RM541.4 million new projects in the first half of FY21 (1HFY21), focusing on the two-storey terraced homes segment in Sendayan developments in Negeri Sembilan and Bandar Seri Impian in Kluang, Johor.

The group said it had managed to achieve over RM800 million in new bookings despite the implementation of the Movement Control Order (MCO), of which RM350.3 million was converted into new sales in the first quarter ended June 30, 2020 (1QFY21) — 9.3% higher than the previous year.

"We received overwhelming response to our online marketing activities with commendable bookings for new properties recorded since the beginning of the MCO period. The current low interest rate environment is very attractive to potential buyers particularly first-time homeowners and upgraders," said its chairman Datuk Mohamad Haslah Mohamad Amin (pictured) in a statement.

"We are also committed to our dividend payout policy of at least 40% and seek to continue rewarding our shareholders," he added.

In FY20, Matrix Concepts posted a net profit of RM234.2 million on the back of a record RM1.3 billion in revenue, representing year-on-year growth of 7.3% and 22.6% respectively.

As at the noon break, shares in Matrix Concepts fell one sen or 0.58% to RM1.70, bringing its market value to RM1.42 billion. It saw some 35,900 shares traded.

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