PETALING JAYA: Matrix Concepts Holdings Bhd
has appointed Kelvin Lee Chin Chuan (pic) as group managing director (MD), effective June 1, 2026.
Lee first joined the property developer in 2018 before leaving in 2021 and returned in April 2025 as group executive director.
He has since helped drive the company’s strategic and organisational development, particularly in advancing a more integrated township ecosystem approach.
The group noted this direction has taken shape through key initiatives such as the collaboration with Golog Holdings Sdn Bhd for the development of the China-Malaysia Air Silk Road Dual Hub Industrial Park Cooperation Project in Malaysia Vision Valley (MVV) TechValley, further reinforcing Negri Sembilan’s position as an emerging logistics and industrial hub.
Anchored by this strong partnership, the property developer achieved a record RM1.51bil in new property sales for the financial year ended March 31, 2026 (FY26), marking a 9.2% increase from RM1.38bil a year earlier.
“The improved performance was driven by strong industrial land sales from the MVV City development, alongside resilient demand across the group’s flagship, Sendayan Developments township,” it highlighted.
Matrix Concepts also launched projects with a combined gross development value of nearly RM2bil during FY26, led by Sendayan Developments and MVV City, with launches valued at RM 915.1mil and RM902.2mil, respectively.
It noted a healthy overall take-up rate of 77% across its developments.
Chairman Datuk Mohamad Haslah Mohamad Amin said: “Our position remains firmly anchored in Negri Sembilan by the continued success of Sendayan Developments, while MVV City is anticipated as the group’s next major growth catalyst.
“With an estimated gross development value of RM15bil to be unlocked over the next 12 years, MVV City is expected to drive long-term earnings growth while strengthening our exposure to the industrial and logistics segment.”
Matrix Concepts’ net profit for its fourth quarter of FY26 (4Q26) moderated by 9.3% to RM38.7mil from RM42.7mil in the previous year, mainly due to the reclassification of certain operational expenses into cost of sales, prevailing product mix and a higher effective tax rate arising from non-deductible expenses.
Meanwhile, FY26 sales rose 9.2% to a record high, driven by robust industrial land sales at MVV City and resilient demand across its township developments.
The group noted unbilled sales amounting to RM1.51bil as at March 31, 2026, is expected to provide earnings visibility for the next 15 to 18 months.
Revenue for 4Q26 stood at RM308.9mil, representing a marginal 1.2% increase in the corresponding quarter last year.
The group pointed to its property development segment as the core revenue driver.
Meanwhile, net profit year-on-year (y-o-y) rose 2.5% to RM219.3mil from RM214mil last year.
The group also achieved its highest annual revenue on a y-o-y basis, rising 18.2% to RM1.36bil in FY26 from a year earlier.
“The stronger performance was supported by steady construction progress across key developments, contributions from new revenue streams, and the group’s expanding industrial revenue stream,” it noted.
Matrix Concepts declared a fourth interim dividend of 1.25 sen per share for FY26, payable on July 9, 2026, which brings total FY26 dividends to 6.10 sen per share, representing a 51.3% payout of net profit.
