Mah Sing records RM536 million sales from Jan-Apr

Mangalesri ChandrasekaranMay 30, 2016

 

Despite Q1 2016 being a short working quarter following the Christmas and New Year festivities, Mah Sing Group posted property sales of RM407.9 million, while the figure for the first four months of the year reached RM536 million.

However, revenue fell from RM784.14 million in Q1 2015 to RM709.17 million, whereas net profit slid from RM98.89 million to RM95.03 million. As a result, earnings per share declined to 3.18 sen versus 4.64 sen a year ago.

Nevertheless, the company’s balance sheet remains healthy. In fact, it has a cash pile of RM1.1 billion, while net gearing is only 0.09 times, enabling it to invest or buy land when an opportunity arises.

In addition, it has unbilled sales of RM4.53 billion, representing 1.61 times the revenue from property sales in 2015, and this is expected to provide enough cash over the next 12 months.

“As at 31 March 2016, a total of approximately RM32.26 billion comprising unbilled sales of approximately RM4.53 billion combined with remaining gross development value (GDV) of approximately RM27.73 billion is expected to support eight to nine years of revenue growth,” it said.

Moving forward, Mah Sing Group intends to roll out RM1.8 billion worth of properties in 2H 2016.

Image: Sourced from Enterpriseasia.org

 

Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my

POST COMMENT

You may also like these articles

#MyHome Puchong: A place called home

  If you ever wondered why Puchong is one of the highly-sort-after vicinity in Klang Valley, here’s your answer! Recently PropertyGuru has created a video to show why Puchong tops the lis

Continue ReadingMay 27, 2016

An outlook on Malaysia's property market

  According to PropertyGuru’s Malaysia Property Market Sentiment Survey Report H1 2016, the years 2014 and 2015 were not favourable for the real estate industry in Malaysia and the industry

Continue ReadingMay 26, 2016

MRCB selected as project delivery partner for Kwasa Damansara

  Kwasa Land Sdn Bhd, the master developer of the upcoming Kwasa Damansara township, has appointed a unit of the Malaysian Resources Corporation Bhd (MRCB) as the Project Delivery Partner (PDP

Continue ReadingMay 27, 2016

Government on track to build PPA1M homes for civil servants

  The federal government targets to complete about 100,000 residential properties across the country by 2018 under the 1Malaysia Civil Servants’ Housing (PPA1M) programme. Now, the author

Continue ReadingMay 27, 2016

Feedback