With the release of its fourth-quarter (Q4) 2020 results, Mah Sing Group Berhad (Mah Sing) is proud to announce that they have achieved their sales target of RM1.1 billion. This is due to a late surge in Q4 that saw revenue grow from RM388.2million in the previous quarter to RM 472.8 million. This surge is contributed by their ongoing projects, featuring M Vertica and M Centura.
Not slowing down, Mah Sing continues this push into this fiscal year with strong sales figures of RM250 million within just the first 2 months. With such encouraging signs, the group has set a higher sales target of RM1.6 billion for their entire 2021; 91% percent of Mah Sing’s product offering will be under the RM700,000 mark and 51% under the RM500,000 mark.
The Group aims to accomplish this by targeting affordable landed homes in the outskirts/suburban areas and affordable high rises in the central business district areas.
With its strong cash and bank balances of approximately RM1.16billion as of 31 December 2020, the Group will continue selectively scouting for strategic land bank for continuous growth.
Among Mah Sing’s new planned developments for 2021, one of them is the exclusive M Senyum in Bandar Baru Salak Tinggi. This residential project is to be developed on 100 acres of new land to affordable landed homes. It will comprise mainly double story terrace houses with an indicative land size of 18’X65′ and 20’X70′.
In addition, Mah Sing is continuing its track record of rewarding shareholders and is proposing a first and final dividend of 1.66 sen per ordinary share, which at the time of writing is 79.5 sen per share for the financial year ended 31 December 2020, subject to shareholders’ approval in the upcoming Annual General Meeting.
With this, Mah Sing has upheld their tradition of rewarding shareholders with at least 40% of its net profit. This is a disciplined and prudent approach that shows Mah Sing has committed to establishing long term and sustainable growth.