PETALING JAYA: Riding on its strongest property sales performance in a decade at RM2.51bil in 2025, Mah Sing Group Bhd
is confident of surpassing expectations this year despite persistent global uncertainties.
In an environment of heightened uncertainty, Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said the company’s approach is to remain disciplined and proactive, particularly in managing cost risks early in the development cycle.
“Our quick turnaround model allows us to launch projects within a short timeframe after land acquisitions, enabling us to lock in construction costs and reduce exposure to price volatility,” he told StarBiz.
Leong said Mah Sing has a stable contractor ecosystem built on long-term alignment, rather than project-by-project pricing.
“This allows us to mitigate short-term cost volatility, as both parties take a more balanced view across the cycle instead of reacting to immediate cost movements.
“Cost optimisation is addressed at the design stage, where we enhance efficiency without compromising on quality, ensuring that our products remain competitive.”
From a balance sheet perspective, Leong said Mah Sing maintains a strong financial position with low gearing and healthy cash levels, which provides the company “resilience to navigate external shocks”.
“More broadly, we view the uncertainties as part of the operating landscape, and our focus remains on maintaining agility, prudence and execution discipline.”
For its financial year ended Dec 31, 2025, Mah Sing recorded net profit of RM260.08mil, up from RM240.75mil in the previous year.
Revenue was flat at RM2.52bil.
The fourth quarter also showed improvement to the bottom line at RM61.76mil against RM60.44mil in the same quarter in the previous year.
Revenue was lower at RM665.04mil against RM744.42mil in the comparative quarter.
The board of directors declared a dividend of five sen per share with an entitlement date of May 13, 2026, and a payment date of May 26, 2026.
Leong explained that the performance was driven largely by the continued success of the company’s M Series.
“Backed by more than three decades of delivery track record and a consistent focus on quality, the M Series remains central to the company’s core earning engine and will continue to anchor its growth.
“At the same time, this strong momentum has provided a springboard for Mah Sing to selectively broaden its market reach into higher-end segments in a more structured and disciplined manner.”
Leong said the company introduced its mid-to high-end segment last year through the M Grand Series and will expand into the luxury segment via the Corus Hotel site near KLCC, a 1.49-acre freehold site to be developed into a residential project.
“With excellent connectivity to key transport hubs such as the Ampang Park MRT-LRT interchange and KLCC station, the development is poised to appeal to both local and international buyers seeking a prime city-centre address.”
Beyond its commercial potential, Leong said the project highlights Mah Sing’s strategy of unlocking value from prime urban land, while contributing to the continued vibrancy of Kuala Lumpur’s city centre.
Alongside the expansion of residential developments, Leong said Mah Sing will also strengthen its footprint in the industrial and digital infrastructure space.
“Our joint venture with Kuala Lumpur Kepong Bhd to develop the 419.17-acre MS Industrial Park @ Kulai in Johor marks a significant step in scaling our industrial portfolio, with Mah Sing leading the planning, development, and execution.
“This expansion complements the company’s exploration into data centre (DC) opportunities, an area of growing importance in the digital economy.
”Mah Sing has identified a 150-acre site in Southville City with the potential to support a large-scale DC hub, supported by strong infrastructure fundamentals and ready access to power, water and connectivity.
“A site in Meridin East, Johor Baru, has also been earmarked for potential DC development.
“Through engagement with hyperscalers, offtakers and operators, the company is evaluating partnership models such as build-to-lease arrangements or land sales, with the aim of unlocking land value while building a more diversified and potentially recurring income stream over time.”
The company’s robust financial position will underpin expansion plans.
“With RM1.21bil in cash and low net gearing of 0.26 times as at end-2025, Mah Sing is well positioned to pursue strategic landbank acquisitions and investment opportunities across the Greater Klang Valley, Johor and Penang, following RM6.4bil in gross development value land secured during the year.”
Additionally, the company has taken steps to evolve beyond conventional housing designs for upcoming projects.
There is a growing importance of wellness as a key consideration in property development.
As such, the company is looking into wellness as a concept.
“The idea is to integrate wellness facilities into residential developments, potentially through partnerships with specialised operators across fitness, preventive care and community-based services, creating an ecosystem centred on longevity and long-term health.”
Going forward, Leong said digitalisation will also play a key role in the company’s upcoming projects.
“Investments in automation, artificial intelligence-driven insights and data platforms are improving efficiency and decision-making across the organisation, while enhancements to the My Mah Sing app provide customers with a seamless, end-to-end homeownership experience.”
Leong said the market in 2026 has been resilient, supported by stable economic fundamentals, healthy employment conditions and continued demand from both first-time homebuyers and upgraders.
“We are seeing consistent take-up rates across our projects, with many developments achieving strong sales momentum, which indicates that demand remains intact in well-located and appropriately priced products.
“Our strategy continues to focus on disciplined launches, where we ensure that new phases are introduced only when existing inventory reaches healthy take-up rates.
”The company has a sales target of RM2.76bil for 2026.
“The RM2.76bil sales target for 2026 is underpinned by a strong pipeline of launches and healthy unbilled sales, providing good earnings visibility moving forward.
“At this stage, both our launch pipeline and sales targets remain on track, anchored by our focus on product-market fit and execution consistency.”
