Matrix Concepts proposes one-for-two bonus issue

• As of Nov 5, the company's issued share capital stood at RM961.32 million, with a total of 1.25 billion shares in circulation. Following the bonus issue, the share capital is expected to expand to 1.88 billion shares, Matrix said in a bourse filing on Tuesday.

KUALA LUMPUR (Nov 26): Property developer Matrix Concepts Holdings Bhd (KL:MATRIX) has proposed a bonus issue of 625.67 million shares on the basis of one new share for every two shares held.

As of Nov 5, the company's issued share capital stood at RM961.32 million, with a total of 1.25 billion shares in circulation. Following the bonus issue, the share capital is expected to expand to 1.88 billion shares, Matrix said in a bourse filing on Tuesday.

The entitlement date will be determined by the company upon receipt of all relevant approvals, the filing said.

Earlier Tuesday, Matrix reported a 5.29% increase in net profit to RM67.42 million for the third quarter ended Sept 30, 2024 (2QFY2025), from RM64.03 million a year earlier, helped by a gain on the disposal of property and plant of RM11.5 million.

Quarterly revenue dropped 10.66% year-on-year to RM321.04 million from RM359.35 million due to lower revenue from the property development and residential property business, but was offset by higher contributions from commercial and industrial properties.

The company declared a second interim dividend of 2.75 sen per share, bringing the year-to-date dividend payout to 5.25 sen per share.

Established in 1996, Matrix is a developer with a diverse portfolio spanning property development, construction, education, hospitality and healthcare. Its flagship development, Sendayan Developments in Negeri Sembilan, is a 6,000-acre township that features affordable-premium landed homes.

Matrix shares closed four sen or 1.75% lower at RM2.25, valuing the company at RM2.82 billion.

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