PETALING JAYA: Property developer Mah Sing Group Bhd
, which made a net profit of RM66.3mil for its third quarter ended Sept 30, 10.3% higher compared to a net profit of RM60.1mil for the same period a year earlier, says the domestic property market is expected to remain resilient in 2026.
The group saw its revenue for the quarter under review coming in at RM635.9mil compared to a higher RM639.3mil for the same period in 2024.
Mah Sing said in a statement that supported by solid unbilled sales of RM3.14bil as at Sept 30 and a strategic emphasis on fast-track project completions, the group expects to sustain strong performance for the remaining of the financial year ending Dec 31, 2025.
This will be underpinned by solid financial fundamentals and disciplined execution across its core developments.
“This is further supported by sustained demand in project launches, alongside a resilient sales momentum.
“Looking ahead, the group remains committed to disciplined execution to drive continued revenue and earnings growth, while focusing on sustainable, high-growth opportunities that create long-term value for stakeholders,” it added.
Mah Sing said the group had acquired five strategic plots of land year-to-date – M Aria in Sentul, the iconic Corus Hotel Site in the Kuala Lumpur City Centre, M Legasi 2 in Semenyih, M Cora in George Town, Penang and M Mira in Setapak – with a combined gross development value of RM4.1bil.
For the financial period ended Sept 30, the group’s property development segment recorded a 15% jump in operating profit to RM319.6mil on the back of revenue of RM1.46bil, compared to the preceding year’s corresponding period.
The higher operating profit and revenue were mainly driven by progressive revenue recognition from ongoing construction progress.
The development projects that were the key earnings contributors include Meridin East, M Tiara and M Minori in Johor Baru, M Nova and M Zenya in Kepong, M Astra in Setapak, M Arisa in Sentul, M Senyum in Salak Tinggi, M Vertica in Cheras, Southville City in Bangi and M Panora in Rawang, Mah Sing said.
Other projects which also contributed include M Legasi in Semenyih, M Azura in Setapak, Ferringhi Residence in Penang, M Terra in Puchong, and M Aspira in Taman Desa.
Meanwhile, Mah Sing’s manufacturing segment recorded revenue of RM342.6mil for the financial period ended Sept 30, representing a 4.4% increase from RM328.1mil in the preceding year’s corresponding period, supported by higher pallet and glove sales.
“Strong domestic fundamentals, such as stable employment with the unemployment rate hovering around 3%, civil servant wage adjustments of 7% to 15%, and the EPF Account 3 initiative, are anticipated to continue supporting housing demand, particularly among first-time and middle-income buyers,” it said.
Founder and group managing director, Tan Sri Leong Hoy Kum said the group’s strategic land acquisitions and disciplined capital management in 2025 positioned the company for sustained growth well into 2026 and beyond.
“With a healthy balance sheet, strong cash position, and a portfolio that continues to resonate with first-time and middle-income buyers, we are expanding both our core M Series and our high-end M Grand Series to capture growing demand in key growth corridors.”
