Matrix Concepts’ FY2026 revenue rises 19.4% to RM1.37 bil, launches RM1.99 bil of projects

PETALING JAYA (July 27): Matrix Concepts Holdings Bhd recorded a 19.4% increase in revenue to RM1.37 billion for the financial year ended March 31, 2026 (FY2026), supported by higher property-development contributions and new revenue from its acquisition of Selangor-based Horizon Group.

According to the developer’s audited annual report released to Bursa Malaysia on Monday (July 27), revenue rose from RM1.15 billion in FY2025, while profit before tax increased 5.8% to RM290.94 million, from RM274.92 million previously.

Profit attributable to owners of the company edged up 1.8% to RM217.81 million, from RM214.03 million, while profit after tax increased 3.6% to RM222.53 million.

Matrix Concepts’ key FY2026 financial highlights were:

1) Revenue — RM1.37 billion, up 19.4% from RM1.15 billion
2) Profit before tax — RM290.94 million, up 5.8% from RM274.92 million
3) Profit attributable to owners — RM217.81 million, up 1.8% from RM214.03 million
4) Basic earnings per share — 11.6 sen, compared with 16.3 sen
5) Total assets — RM4.10 billion, up 26.3% from RM3.25 billion
6) Equity attributable to owners — RM2.32 billion, up 4.2% from RM2.23 billion
7) Total borrowings — RM1.05 billion, up 94.4% from RM541.92 million
8) Cash, bank balances and deposits — RM197.87 million, compared with RM186.95 million
9) Net gearing — 0.37 times
10) FY2026 dividends — 6.1 sen per share, amounting to RM114.5 million

The group attributed the increase in revenue partly to Horizon Group, which contributed RM76.6 million following the completion of the RM77.9 million acquisition in August 2025.

Property development remained Matrix Concepts’ principal business, contributing RM1.31 billion, or 95.4% of group revenue. Residential properties generated RM1.21 billion, while commercial and industrial properties contributed RM103.7 million.

The group’s flagship Sendayan developments remained the largest contributor, generating RM894.3 million, followed by Klang Valley developments at RM155 million, Horizon developments at RM76.6 million, Bandar Seri Impian in Johor at RM70.2 million, its M333 St Kilda project in Australia at RM68.6 million and Malaysia Vision Valley (MVV) at RM45.7 million.

RM1.99 bil of projects launched

During FY2026, Matrix Concepts launched 1,733 units with a combined gross development value (GDV) of RM1.99 billion, up from RM1.45 billion in FY2025.

The launches achieved an average take-up rate of 76.9%, while group unbilled sales stood at RM1.51 billion as at March 31, providing revenue visibility for subsequent financial periods.

Sendayan accounted for 12 launches comprising 1,359 units with a combined GDV of RM915.1 million. The township recorded RM884.1 million in sales during the year and had ongoing projects carrying an estimated GDV of RM1.34 billion.

In September 2025, Matrix Concepts launched the first 371.3-acre phase of MVV TechValley. The wider 2,382-acre MVV City, in which the group holds an 85% stake, carries an estimated GDV of RM15 billion and is planned for development over 12 years.

The integrated master plan comprises about 1,000 acres of industrial land, 15,000 residential units and a 174-acre commercial precinct. Sales from its initial industrial offering reached RM362.6 million by the end of FY2026, exceeding the group’s RM250 million target.

Landbank supports RM21.8 bil pipeline

As at March 31, Matrix Concepts’ remaining landbank totalled 4,000.8 acres, with an estimated GDV of RM21.8 billion.

The portfolio comprises land within its Sendayan and Bandar Seri Impian townships, parcels in the Klang Valley and land secured for the MVV development.

The group said it plans to launch about RM2 billion of new projects in FY2027, supported by its RM1.51 billion unbilled sales base and contributions from Sendayan, MVV City, its Klang Valley developments and Horizon Group.

Borrowings increased to RM1.05 billion after Matrix Concepts secured an additional RM392 million in financing to fund land acquisition and initial development costs for MVV 2.0. Despite the higher debt, the group said its net gearing remained comparatively low at 0.37 times.

For FY2026, Matrix Concepts declared four interim dividends totalling 6.1 sen per share, representing a payout of RM114.5 million, or 51.5% of profit after tax.

The group’s 29th annual general meeting is scheduled to be held on Aug 27 at d’Tempat Country Club in Bandar Sri Sendayan, Negeri Sembilan.

..........

Read about emerging trends, data-backed insights, growing subsectors, and expert commentaries in EdgeProp print. Subscribe now for your free copy!