KUALA LUMPUR: Mah Sing Group Bhd
is on track to meet its annual property sales target after registering RM1.32bil in sales in the first half of the year.
The group, which is seeing encouraging take-up rates in its M Series developments, said there has been sustained demand for well-located and attainable homes, ongoing sales from existing projects and upcoming launches planned for the remainder of 2026.
"Key project completions scheduled for the remainder of 2026 include M Nova in Kepong, Kuala Lumpur, Phase 3A and 3B landed homes of M Senyum in Salak Tinggi, Selangor, and Phase 4A2 of Meridin East in Johor Bahru, which are expected to generate incoming vacant possession funds of more than RM250mil," it said in a statement.
In the second quarter ended June 30, 2026, Mah Sing posted a net profit of RM72.47mil as compared to net profit of RM66.02mil in the previous corresponding quarter, while revenue climbed to RM656.29mil from RM565.92mil in the previous comparative quarter.
The group's cumulative six-month net profit rose to RM140.55mil from a net profit of RM132.06mil in the previous corresponding period, while revenue was unchanged at RM1.22bil.
Cash and bank balances as at end-June 2026 was RM1.01bil while the net gearing ratio stood at 0.39x.
In 1HFY26, Mah Sing said key earnings contributors included M Nova and M Zenya in Kepong, Kuala Lumpur, M Azura and M Astra in Setapak, Kuala Lumpur, M Legasi in Semenyih, Selangor, M Senyum in Salak Tinggi, Selangor, as well as Meridin East, M Tiara and M Minori in Johor Bahru, Johor.
Other projects which also contributed include M Aspira in Taman Desa, Kuala Lumpur, M Terra in Puchong, Selangor, Southville City in Bangi, Selangor, M Panora in Rawang, Selangor, and M Grand Minori in Johor Bahru, Johor.
Meanwhile, the manufacturing segment recorded an operating profit of RM9.7mil compared to an operating loss of RM5.2mil in the previous year's corresponding period, mainly driven by improved plant utilisation in the glove business and higher average selling prices as well as cost optimisation initiatives following the disposal of the automotive parts business.
Mah Sing said its proposal to dispose of about 78.8 acres of commercial land within Mah Sing DC Hub @ Southville City to the subsidiary of an established international digital infrastructure group for RM617.9mil unlocks value from the group's development-ready landbank and provides capital for reinvestment into higher-value opportunities.
Building on the transaction, Mah Sing intends to advance its “monetise, develop and own” strategy through a proposed colocation data centre with an experienced operator.
"While still at a preliminary stage and subject to further assessment, the proposed development provides a potential pathway towards recurring-income digital infrastructure assets," said founder and group managing director Tan Sri Leong Hoy Kum.
"Property remains our core business, while digital infrastructure provides a second growth engine as we look to broaden our earnings base and create long-term value for shareholders."
