Stellar showing: (From left) Lee, Mohamad Haslah and Matrix Concept’s executive director Kelvin Lee Chin Chuan at the company’s AGM.
SEREMBAN: Matrix Concepts Holdings Bhd
is targeting RM1.6bil in new property sales in its financial year ending March 31, 2026 (FY26) as it enters a new phase of accelerated growth with plans to derive 30% of its revenue from outside Negri Sembilan in the next five years.
Leveraging its proven track record of consistent operational and financial performance since its inception in 1996, the property developer is also planning launches with a gross development value of up to RM1.7bil for FY26.
The group has unveiled a multi-pronged growth strategy for the next decade, anchored by the transformative Malaysia Vision Valley (MVV) City project in Negri Sembilan.
Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said FY26 will mark a key inflection point for the group as it begins to reap the benefits of the multi-pronged growth strategies put in place over the past two years.
“Overall, Matrix Concepts’ performance has been awesome. We have been very consistent in the 13 years after listing and I can put on record that we make the best net profit among most developers.
“We have also never failed to pay dividends that make up more than 50% of our profits and we intend to stick to that policy,” he told reporters after the company’s 28th AGM at the d’Tempat Country Club at Bandar Sri Sendayan in Seremban.
Mohamad Haslah said, based on forecasts, the group is in a good position for the next 10 to 15 years.
The group, he said, has also been encouraged by the overwhelming response to its maiden industrial launches in MVV City, which he said would serve as a key growth catalyst for the group over the next decade.
Mohamad Haslah said the acquisition of Horizon L&L Sdn Bhd (HLL) has also enhanced the group’s technical capacity in high-rise development, equipping its Klang Valley team with the expertise to scale up launches and broaden its reach in an important market.
“These initiatives reflect our steady expansion into new growth corridors while maintaining the discipline that has long defined Matrix Concepts.
“With a clear roadmap, robust launch pipeline, and transformative projects like MVV City at the core of our journey, we are confident of sustaining sales momentum in FY26 and laying the foundation for long-term value creation,” he said
In a statement, the group said the recently completed acquisition of the HLL marks a significant milestone for Matrix Concepts, allowing it to unlock new opportunities to broaden its development footprint in markets with high potential such as Sepang and Banting in Selangor.
The acquisition, it said, paves the way for immediate revenue contribution from HLL’s Klang Valley operations, with two developments planned for launch within the next 12 months, carrying a combined gross development value of RM738mil.
Matrix Concepts said it was also broadening its earnings base through strategic expansion in the Klang Valley, with the launch of Levia @ Puchong which is its third high-rise residential project in the region.
“Further enhancing the group’s prospects in FY26, key launches include the first phase of an industrial project within the group’s MVV City development, a key component of the larger MVV corridor.
“The development’s industrial offering has already demonstrated strong traction, with the first phase valued at RM628.3mil launched in early FY26 receiving an overwhelming response,” it said.
Matrix Concepts’ executive deputy chairman Datuk Seri Lee Tian Hock said the group’s target is to register between RM250mil and RM270mil in after tax profits for FY26.
“We registered a lower after tax profit of RM214.1mil for FY25 as certain sales were not recognised.
“We recently completed the first quarter of FY26 where we achieved RM63mil and I must say we are well on track to meet our target,” he said, adding that the groups’ other divisions such as education, healthcare and hospitality have also been showing positive results.
Prior to this, the group’s highest ever after tax profit was RM259mil registered in FY21.
Lee said his ultimate target is for the group to register an after tax profit of RM300mil. He said the group’s acquisition of HLL was a step in the right direction as it would add to its revenue.
“Previously, our Sendayan projects used to contribute between 80% and 90% of revenue and this in terms of business is a little risky. With our expansion and acquisition, Sendayan will eventually contribute between 50% and 60%, our projects in Johor some 20%, and another 20% from the Klang Valley,” he added.
