KUALA LUMPUR: Mah Sing Group Bhd will give more focus on building affordable housing at strategic locations to support the government’s initiatives to boost house ownership, as well as to meet the market’s demand.
Founder and managing director Tan Sri Leong Hoy Kum said the move would augur well for the group’s growth strategy as Mah Sing was constantly on the lookout for more landbank with a key focus in the Klang Valley.
“Our primary focus would be to acquire pieces of land within strategic locations with good connectivity and accessibility that are great for immediate development as we believe the demand will persist for the right product in the right location at the right pricing,“ he told reporters after the group’s annual general meeting today.
As of March 31, 2019, Mah Sing’s landbank stood at approximately 849.44ha, constituting to total remaining gross development value and unbilled sales of RM25.1 billion, which can sustain growth for the next eight to nine years.
The group currently sits on a healthy balance sheet with cash and bank balances of RM1.3 billion in the first quarter of this year.
Mah Sing is also in talks with potential partners from China to set up a permanent industrialised building system (IBS) precast concrete in Kajang.
Elaborating on the proposed plant, Leong said the negotiations would likely to be concluded within this year and the plant would be able to produce a range of IBS components, including precast concrete panels, concrete slab columns, concrete walls and beams.
He added that if the collaboration was successful, it would enhance Mah Sing’s offerings to local house buyers.
“We are also constantly exploring new opportunities for strategic partnerships which we can leverage on their expertise and resources to continue to constantly provide quality products with added value to our valued customers,” said Leong.