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Mah Sing on track to hit sales target

 

MAHSING-TARGET
MAH SING ON TRACK TO HIT SALES TARGET
KUALA LUMPUR, June 25 (Bernama) -- Mah Sing Group Bhd is on track to achieve
this year's sales target of RM3 billion, says Group Managing Director and Chief
Executive Tan Sri Leong Hoy Kum.
He said the group is optimistic of achieving the target judging from the
RM750 million sales recorded in the first quarter ended March 31, 2013.
"Our diversity of good projects in prime locations coupled with our range of
properties to suit every need should sustain our growth, moving forward," he
told reporters after the company's annual general meeting.
He said for this year, the group has acquired four parcels of land with a
combined gross development value (GDV) of RM7.78 billion thus far.
The four projects include integrated commercial centres like Damansara
Sentral, Greater Kuala Lumpur, Lakeville Residence in Taman Wahyu, Kepong,
[email protected] in Iskandar Malaysia and Kota Kinabalu Convention City in
Sabah.
"We are in a very good position, we have the financial prowess to take on
more land, be they fast turnaround niche projects or large townships, yet we can
comfortably maintain our growth with our existing landbank," said Leong.
He said this is why the group has been very selective in the land it
acquires.
Leong said besides outright purchase, the group is open to joint ventures
and also government privatisation land.
He said on the local property market, Mah Sing needs to continue offering
appealing products in good locations to maintain its strong sales momentum.
"Sentiments are still strong and we are selectively optimistic on certain
segments.
"Our market research and consumer feedback tells us that mass market
products targeting the medium to mid-high segments is still the way to go," he
added.
He said there is still good demand for serviced residences from 500 sq ft in
prime city or commercial locations, landed properties below RM1 million in good
schemes with easy access and amenities or medium-high to high-end residences in
mature schemes.
"It is a competitive market but with our branding, concept, delivery track
record and customer service, we believe we can continue to differentiate
ourselves," added Leong.
-- BERNAMA
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KUALA LUMPUR: Mah Sing Group Bhd is on track to achieve this year's sales target of RM3 billion, says Group Managing Director and Chief Executive Tan Sri Leong Hoy Kum.

He said the group is optimistic of achieving the target judging from the RM750 million sales recorded in the first quarter ended March 31, 2013.

"Our diversity of good projects in prime locations coupled with our range of properties to suit every need should sustain our growth, moving forward," he told reporters after the company's annual general meeting.

He said for this year, the group has acquired four parcels of land with a combined gross development value (GDV) of RM7.78 billion thus far.

The four projects include integrated commercial centres like Damansara Sentral, Greater Kuala Lumpur, Lakeville Residence in Taman Wahyu, Kepong, [email protected] in Iskandar Malaysia and Kota Kinabalu Convention City in Sabah.

"We are in a very good position, we have the financial prowess to take on more land, be they fast turnaround niche projects or large townships, yet we can comfortably maintain our growth with our existing landbank," said Leong.

He said this is why the group has been very selective in the land it acquires. Leong said besides outright purchase, the group is open to joint ventures and also government privatisation land.

He said on the local property market, Mah Sing needs to continue offering appealing products in good locations to maintain its strong sales momentum.

"Sentiments are still strong and we are selectively optimistic on certain segments. Our market research and consumer feedback tells us that mass market products targeting the medium to mid-high segments is still the way to go," he added.

He said there is still good demand for serviced residences from 500 sq ft in prime city or commercial locations, landed properties below RM1 million in good schemes with easy access and amenities or medium-high to high-end residences in mature schemes.

"It is a competitive market but with our branding, concept, delivery track record and customer service, we believe we can continue to differentiate ourselves," added Leong. - Bernama

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