MAH Sing Group Bhd’s founder Tan Sri Leong Hoy Kum, winner of the coveted FIABCI Property Man of the Year 2021, is truly a man of vision and insight. Imbued with the DNA to succeed in a highly challenging industry, his creative drive and strategic risk-taking has shaped and transformed the Group into the giant it is today.
Guided by the identity of being a house developer for all Malaysians, the KLSE-listed Mah Sing is one of the most prominent and diversified property developers in the country. Leong, who is also the Group’s managing director, holds true to the principles of legacy building in his unfaltering commitment to deliver excellence.
“We don’t just build houses, we build communities. We want to be the game changer of the industry as we continuously pushes boundaries in creating sustainable future living that enhances quality of life.” Mah Sing has been dazzling the property-scape of Malaysia for close to three decades with its iconic lifestyle developments that combine aesthetic architecture with modern conveniences and optimal connectivity.
The award-winning developer is also constantly evolving to respond to market demands by reinventing the definition of affordability to provide home buyers with affordable luxury.
The man of the hour
According to Leong, taking over the baton from his late father was definitely the best decision he had ever made. He is proud to have seen Mah Sing progress from plastic trading to manufacturing and then into the real estate market.
“The Property Man 2021 award holds a special place in my heart because when the company first entered the property market in 1994, we had a vision of becoming a nation builder that creates development with the communities in mind.”
Mah Sing was established in 1965 as a plastic trading firm and subsequently plastic manufacturing in 1986. The business expanded rapidly with proprietary and original equipment manufacturer (OEM) products for the automotive and electrical and electronic industries.
From there, Leong grew the company which was listed on Bursa Malaysia in 1992. He then decided to forge a new path for Mah Sing by venturing into property development in 1994 with his maiden project, a 45-acre undertaking comprising link homes in Ulu Yam, Selangor.
Under his leadership, Mah Sing has humbly risen through the ranks over the years to emerge as a prominent property developer in Malaysia. Today, the company is one of the few fully integrated property developers with high-rise and landed residential developments, integrated commercial centres and niche industrial parks.
“We strive to be a long-lasting and trusted brand by delivering our brand promise of building high quality and sustainable homes,” Leong said, adding that all projects were planned with affordability, sustainability, security, connectivity and convenience in mind. His business philosophy is to create win-win scenarios and building long-term relationships with customers, shareholders, employees, business associates and contractors.
However, his success story is not all smooth sailing. He faced four significant financial crises throughout his 40 years entrepreneurial career. But being the optimist that he is, every catastrophe he feels, brings with it an opportunity. He believes that one should never be complacent and always look for new chances to thrive.
His entrepreneurial spirit flourished in challenging times and he was able to adapt to every situation and was ready for the unexpected. For that reason, Mah Sing Healthcare Sdn Bhd was born during the Covid-19 pandemic.
The Group persevered through the difficult times brought on by the pandemic and it is now business as usual on the operational front. Its entire workforce was fully vaccinated by September 2021. Leong said digital and social media marketing efforts have been expanded to include virtual tours, video consultations and online bookings and payments.
“As a result, our projects have had successful launches and healthy take-up rates. There were several positive deliverables between March 2020 and end of 2021.” In 2020, vacant possession (VP) was successfully delivered for Cerrado apartments in Southville City and condominiums in Lakeville Residence, Kepong.
Despite the disruptions caused by the movement control order, VP for Phase 1 of M Aruna (Rawang link homes) and Phase 1 and 2 of Hazel link homes in Meridin East, Johor, was received in Q1 2021.
This was followed by the opening of the sales gallery for the M Series projects such as M Panora and M Astra while VP was also delivered for M Centura in December 2021. “We intend to continue to leverage on the strengths of our existing digital market platforms to boost sales by streamlining our processes from awareness to payments,” he elaborated.
“In addition, our strategic focus will remain on environmental, social and governance (ESG), with initiatives to improve ESG compliance,” he continued. To de-stress, Leong enjoys travelling, both within and outside Malaysia. He loves places filled with natural wonders and of course, architectural marvels, both historical and modern.
The Mah Sing legacy
Mah Sing’s diversified property portfolios comprise of residential, commercial, retail, hospitality and industrial developments nationwide, with most located in the property hotspots of Greater Kuala Lumpur, Klang Valley, Penang, Johor and Sabah.
As of Dec 31, 2021, Mah Sing has remaining land bank of 2,022 acres with a remaining gross development value and unbilled sales of approximately RM24.55billion to support future growth. With strong balance sheet and encouraged by the fast take-up of the M-Series, the Group is constantly on the lookout for strategic land banks, focusing more on affordable high-rises within CBD areas and landed homes in sub-urban areas.
In addition to Klang Valley, Johor, and Penang, the Group is also seeking suitable lands
for affordable landed products in Seremban, Melaka, and Perak. “Our aspiration is to be Malaysia’s leader in affordable housing by continuing to provide reasonably priced homes with premium features in strategic locations to meet the country’s expanding demands.
“Our projects have recorded healthy take-up rates. M Oscar has an 80% take-up rate for the whole development with an estimated RM505mil GDV; M Luna with a 90% take-up rate for an estimated RM705mil GDV; and M Adora also at 90% with an estimated RM378mil GDV.
“We are proud that we managed to keep our promise for M Centura’s VP targeted for Q4 2021. The project is Mah Sing’s first baby under the M Series, demonstrating that we can deliver on our promise of providing affordable premium resort lifestyle homes in a KL city address,” Leong emphasised.
The Group kick-started 2022 with its first sales campaign, “LIFT OFF with Mah Sing”, which will include 21 projects across Malaysia. The campaign highlights a selection of the Group’s seven new and upcoming launches as well as 14 ongoing projects, all bundled with a hassle-free, affordable sales package for first-time home buyers, upgraders and younger demographics interested in investing.
“Our quest for excellence is a never-ending journey as together we re-imagine and adapt to building for the future and redefine how people live, work and play,” he concluded.