Mah Sing posts higher pre-tax profit and revenue

KUALA LUMPUR: Property developer, Mah Sing Group Bhd, posted a 34% higher first quarter pre-tax profit for the period ended March 31 to RM41.713 million from RM31.119 million in the same period in 2009.

Its revenue also rose 54% to RM238.312 million from RM150.315 million previously. Group managing director and chief executive officer Tan Sri Leong Hoy Kum said the first quarter sales were good due to strong response to all
segments of its properties.

"The group's residential and commercial projects contributed to the good results. Main contributors to revenue are Southgate, Hijauan Residence, Kemuning Residence and Aman Perdana, all in the Klang Valley, Residence@Southbay in Penang and Sierra Perdana and Sri Pulai Perdana 2 in Johor Baharu," he said
in a statement on May 26.

Besides property development, the group's plastic division also contributed positively to the quarter's earnings, he added. -- Bernama