Commentary by Tan Sri Leong Hoy Kum, founder and group managing director of Mah Sing Group Bhd
Mah Sing Group Bhd applauds the initiatives announced by the Government in Budget 2026, the fourth edition of the Madani Budget, which aims to restore fiscal resilience, strengthen economic fundamentals, and uplift the rakyat’s living standards.
As the first budget to support the goals of the 13th Malaysia Plan (13MP), Budget 2026 reflects the Government’s commitment to achieving sustainable and inclusive growth that benefits all Malaysians.
Recognising that housing remains a key pillar of social and economic stability, Mah Sing hopes the Government will consider reintroducing the Home Ownership Campaign (HOC) as part of ongoing measures to make property ownership more attainable for Malaysians.
The previous HOC proved highly effective in easing the financial burden of homebuyers through stamp duty exemptions and other incentives, while stimulating the property market and related industries. A renewed HOC would not only encourage genuine homeownership, especially among first-time buyers, but also help sustain market momentum in 2026.
At Mah Sing, we remain committed to supporting national homeownership goals through affordably priced projects in prime, well-connected locations. Our focus continues to be on delivering quality homes that meet real market needs, ensuring more Malaysians can own homes that suit their lifestyle and aspirations.
Budget 2026 introduces several initiatives aimed at encouraging homeownership and supporting the property market:
Mah Sing applauds the Government’s initiative in providing incentives such as the stamp duty exemption, which will further encourage homeownership among the low- to middle-income groups. The Government’s proposal to extend the full stamp duty exemption on the instrument of transfer and loan agreement for first homes priced up to RM500,000 until 31 December 2027 will continue to ease the financial burden for first-time homebuyers.
This measure directly aligns with Mah Sing’s commitment to making quality homes more accessible, as almost 50% of the Group’s residential projects are priced within the affordable range below RM500,000, and cater primarily to first-time homebuyers. Mah Sing is well-positioned to benefit from this initiative, which is expected to stimulate stronger demand for affordably priced homes. (Please refer to the appendix below for more details on Mah Sing’s projects that are below RM500,000.)
We applaud the government’s initiative under Budget 2026 to raise the Lembaga Pembiayaan Perumahan Sektor Awam (LPPSA) financing eligibility limit from RM600,000 to RM1 million. This timely measure reflects a clear understanding of the evolving economic landscape, particularly the need to align housing loan limits with salary adjustments and current property market prices. The move will greatly benefit civil servants by enhancing their homeownership opportunities and supporting the overall growth of Malaysia’s housing sector.
Homebuyers of Mah Sing’s M Grand Minori in Taman Pelangi, which is located just 3km from Bukit Chagar RTS station, will be able to travel to Singapore’s Woodlands North in under five minutes starting 1 January 2027. Designed to transport up to 10,000 passengers per hour in each direction during peak periods, the RTS Link will greatly improve cross-border connectivity between Johor Bahru and Singapore. This development is expected to generate positive spillover effects for nearby areas, particularly Mah Sing’s M Grand Minori. Shuttle service is also available to residents to travel to CIQ or RTS station for daily cross-border convenience.
We commend the government’s proactive efforts under Budget 2026 to further strengthen the Johor-Singapore Special Economic Zone (JS-SEZ), which has already demonstrated remarkable success by attracting RM37.1 billion in investments in the first half of 2025, alongside an additional RM29 billion in new investor commitments.
This initiative reflects the government’s strong commitment to fostering cross-border economic collaboration, enhancing regional connectivity, and positioning Johor as a key driver of growth in the southern economic corridor. The continued development of the JS-SEZ will not only boost foreign direct investments but also create new business and employment opportunities, contributing significantly to Malaysia’s long-term economic resilience and competitiveness.
This will benefit Mah Sing’s developments in Johor, including M Grand Minori, Meridin East and M Minori, which are strategically located to meet rising housing demand from the region’s expanding workforce and investment-driven population growth.
Mah Sing’s corporate responsibility strategic partner, Mah Sing Foundation also appreciates the comprehensive initiatives tabled by the government aimed at assisting B40 communities as well as children, our future generations.
Empowering Education, Uplifting Communities Mah Sing Foundation welcomes the Government’s RM66.2 billion allocation to the Ministry of Education, including RM2 billion to upgrade 520 dilapidated schools in Sabah and Sarawak and the RM870 million Rancangan Makanan Tambahan (RMT) programme to support student nutrition. In addition, the expansion of Bantuan Am Persekolahan to include students up to Form 5 and the extension of Bantuan Awal Persekolahan to all 5.2 million students nationwide will help ease financial burdens for families and ensure more children have access to quality education.
We also commend the RM270 million in allowances for 150,000 students with disabilities (OKU) and RM30 million for OKU-friendly facilities, which strengthen inclusivity in education. This aligns with our support for children with autism, where since 2020 MSF has partnered with IDEAS Autism Centre Rawang to provide occupational therapy for about 40 children each year, enabling many to transition into the Program Pendidikan Khas Integrasi (PPKI).
The Foundation also welcomes the Government’s expansion of the Sekolah Angkat MADANI initiative to 1,500 schools, which promotes collaboration between the public and private sectors in strengthening education. Through our own literacy programmes, MSF has been working closely with schools and communities to empower underserved children. In 2025 alone, more than 350 students across 15 schools and communities have benefited, gaining stronger reading skills and a foundation for long-term academic success.
Mah Sing Foundation supports the Government’s initiatives for PPR communities, including the RM100 million Ikhtiar Sejati MADANI and RM500 million DBKL allocation to improve living facilities and local infrastructure.
Since 2021, our Women Entrepreneurship Programme with Women of Will has empowered 150 women from four PPR communities, equipping them with financial literacy, digital marketing, and business skills. In PPR Seri Semarak, participants reported an average 56% increase in business income and a 171% increase in monthly savings, demonstrating the transformative impact of such programmes.
We also commend the Government’s financing support for women entrepreneurs, recognising its vital role in uplifting low-income communities. In addition, MSF has introduced community mental health initiatives, benefiting over 120 individuals by fostering resilience, stronger family communication, and emotional wellbeing.
Mah Sing Foundation welcomes the Government’s RM3.3 billion allocation for rural infrastructure projects, including RM700 million for water and electricity and RM90 million for rural bridges and solar-powered lighting, which will directly benefit rural households.
Our long-term partnership with Hopes Malaysia reflects this same commitment to improving rural livelihoods. Since 2020, the collaboration has uplifted more than 4,000 villagers across nine villages in Kota Belud, Sabah through the Gravity Water Project. By upgrading village gravity water systems, households now enjoy reliable access to clean, free water for their daily needs. This sustainable solution not only enhances health and living conditions but also strengthens community resilience for the long term.
We also support the expansion of the Kampung Angkat MADANI and Solar MADANI initiatives, which reinforce our shared goal of building resilient and self-sustaining rural communities.
