SEREMBAN: Matrix Concepts Holdings Bhd
is targeting RM1.8bil in new property sales in its financial year ending March 31, 2027 (FY27), with its record FY26 performance providing a strong foundation for the next phase of growth.
Supported by the resilience of its core developments and an increasingly diversified portfolio, this will, among others be supported by the RM2bil of planned new project launches in Negri Sembilan, the Klang Valley and Johor.
For FY26, the group registered a record RM1.5bil in new property sales. Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said the group has, over the past several years, broadened its geographical footprint, enhanced its development capabilities and integrated complementary businesses around its core property operations.
“As we celebrate our 30th anniversary, FY27 marks an important milestone in Matrix Concepts’ growth journey.
“These investments are now coming together to expand our earnings base and create new avenues for expansion,” he said at the group’s 29th annual general meeting held at the d’Tempat Country Club in Bandar Seri Sendayan.
Mohamad Haslah said in FY27, the group’s confidence is underpinned by its established business, development pipeline and growing contributions from new and recurring income streams.
“Our ambition is to build Matrix Concepts into a larger, more diversified and resilient property group.
“We remain disciplined in execution while strengthening our competitive position and progressively moving towards the upper tier of Malaysia’s property development industry, creating enduring value for our shareholders, customers and communities.”
He added that the group was confident moving forward with the new growth areas that it would be tapping on this coming financial year, especially the MVV Valley, the Bandar Seri Impian township in Kluang, Johor, and the central region.
The early performance of FY27 provides further support for this outlook.
In the first quarter ending June 30, 2026 (1Q27), group revenue grew 11% year-on-year to RM315.6mil while new property sales increased 9.2% to a record RM416.7mil.
During the period, unbilled sales stood at RM1.5bil, providing earnings visibility over the next 15 to 18 months.
In a statement, the group said Sendayan Developments will remain at the heart of its strategy as its most significant revenue contributor and a strong foundation for future growth.
“Building on this foundation, MVV City is emerging as a major new catalyst.
“The 2,382-acre integrated development, jointly developed with the state government, has an estimated gross developmetn value (GDV) of RM15bil and comprises industrial, residential and commercial components,” it said.
Its industrial precinct, MVV TechValley, has also received a robust market response since its launch, with sustained interest in its industrial offerings and take-up continuing to exceed initial expectations.
Beyond Negri Sembilan, the group is expanding its presence in the Klang Valley, which is expected to contribute approximately 20% to 25% of group sales over time.
The portfolio spans Puchong and Kota Warisan, as well as the Sepang and Banting corridors, with the integration of Horizon L&L strengthening the Group’s high-rise development capabilities.
The group’s repositioned Johor portfolio is also benefiting from renewed demand, supported by enhanced connectivity through Electric Train Service (ETS), strategic upgrades to township amenities and more affordable product offerings.
Matrix Concepts group managing director Kelvin Lee Chin Chuan who was also present, said the group will be launching its second phase of the Bandar Seri Impian development in Kluang in September.
The development covering a 340-acre area with a GDV of RM1.5bil will be developed within seven to 10 years.
“Our target is to secure some RM200mil in sales every year although this may go up to even RM250mil or RM300mil.
“With ETS, we are also hoping to increase our market share there from 10% to between 20% and 30%,” he said.
The group said its strategy to widen earnings beyond property development has been delivering tangible results, with complementary businesses and recurring income initiatives steadily contributing to its performance.
This, it said was evident in Australia, where the successful conversion of M333 St Kilda in Melbourne into a build-to-rent asset has established a recurring income stream, with full occupancy achieved and approximately AUD2.0mil in annual profit before tax.
“This is being complemented by new opportunities, including the upcoming Kanopy @ Sendayan, alongside the group’s hospitality and education businesses,” it said.
The healthcare business is also progressing, with the planned launch of the 180-bed Matrix Medical Centre Sendayan in 2027 and the development of a 130-bed Nursing Care Centre, supporting both the group’s healthcare division and the broader integrated township ecosystem.
The medical centre will be built at an estimated cost of RM200mil.
For FY26, the group distributed RM114.5mil to shareholders and has declared a first interim dividend of 1.40 sen per share for FY27, amounting to a payout of RM26.3mil or 43% of 1Q27 profit after tax.
