PETALING JAYA: Mah Sing Group Bhd
has kicked off the first quarter of the financial year ending Dec 31, 2026 (FY26) on a resilient note, supported by strong operational execution and a solid financial position.
Notably, the group paid approximately RM128mil in dividends to shareholders on May 26, 2026, translating into a payout ratio of nearly 50% — its highest in two decades and well above its minimum dividend payout policy of 40%.
In a statement, the property group said it remains well-positioned to deliver stronger earnings in 2026, supported by unbilled sales of RM3.33bil.
For the first five months of this year, Mah Sing Group secured RM978mil in new property sales.
This has positioned the group on track to meet its full-year sales target of RM2.76bil.
Mah Sing Group also has a pipeline of new launches, namely M Mira in Setapak; M Hana in Puchong; M Amaya and M Cora in Penang, as well as M Tiara 2 and MS Industrial Park @ Kulai in Johor.
This pipeline was further reinforced by new phases of existing projects, namely M Legasi in Semenyih; M Sinar Tower B in Southville City, Bangi; M Grand Minori and Meridin East in Johor.
Group chief executive officer, Datuk Voon Tin Yow said they have continued to see sustained demand for its M series developments, supported by encouraging take-up from recent launches including M Aria in Sentul and M Aurora in Old Klang Road.
According to Voon, he expects this positive momentum to continue this year, underpinned by an approximately RM2.06bil pipeline of new residential and industrial offerings, as well as its growing focus on data centre-related opportunities.
Mah Sing Group posted a lower revenue of RM563.1mil for the first quarter ended March 31, 2026, versus RM649.6mil in the same quarter last year.
The drop was on the back of slower work progress during the festive seasons, coupled with a higher proportion of new projects in the initial stages of construction.
The group said it expects revenue contribution to increase as these projects progress.
Upcoming property completions in 2026 include M Nova in Kepong; Phase 3A and 3B landed link homes of M Senyum in Salak Tinggi; Phase 2 of M Panora in Rawang, and Parcel 4A1 and 4A2 of Meridin East in Johor Bahru.
Profit, however, was higher for the quarter under review at RM68.07mil versus RM66.03mil for the same quarter a year ago, partially strengthened by the finalisation of construction costs for certain contracts nearing completion.
The group’s balance sheet remains healthy, with cash and bank balances and investments in short-term funds of approximately RM1bil, and a net gearing of 0.39 times as at March 31, 2026.
Meanwhile, founder and group managing director, Tan Sri Leong Hoy Kum, said the group’s focus will be building a resilient and future-ready business underpinned by disciplined execution, strong financial management and sustainable growth strategies.
“Mah Sing will continue to leverage its diversified development pipeline and strategic market position to capture opportunities across resilient segments. We also remain actively focused on securing strategic landbank opportunities to strengthen our development pipeline in line with future growth opportunities.”
