NEW STRAITS TIMES. 15TH JULY: Mah Sing Group Bhd expects its residential segment M-Series to contribute over 70 per cent to its RM2 billion sales target this year.
Group chief executive officer Datuk Ho Hon Sang said at the official launch of M Nova’s sales gallery in Taman Wahyu, Kepong today that the group will continue to offer products that focus on affordability, sustainability, and quality.
“We saw significant demand for reasonably priced properties in the Klang Valley based on increased enquiries and good take-up (rates) for our projects.
“Mah Sing’s affordable M Series developments, which include both landed and high-rise housing, saw good take-up rates. We are confident that this is what the market is looking for, and as a people-oriented developer, we shall continue to offer similar properties,” Ho said.
M Nova, he said, is also Mah Sing’s third project in Kepong, after Lakeville Residence and M Luna. Lakeville was launched several years ago, while M Luna was launched during the pandemic in 2020. To date, M Luna has a take-up rate of 95 per cent.
Meanwhile, founder and group managing director Tan Sri Leong Hoy Kum said in a statement that the company is planning to give vacant possession of more than 4,000 units this year.
This will provide a strong cash buffer for the company’s land banking activities.
Mah Sing has cash, bank balances as well as short-term fund investment of about RM1.01 billion as of March 31, 2022.
The group is ready to acquire land to replicate the success of M Series housing, he said, adding that besides the Klang Valley, it plans to have projects in Penang, Johor, Seremban, Malacca, and Perak.