KUALA LUMPUR (Feb 25): Mah Sing Group Bhd s net profit increased by 4.19% to RM28.13 million in the fourth quarter ended Dec 31, 2020 (4QFY20) against RM27 million posted in 3QFY20, as it saw higher contributions from M Vertica and M Centura.
However, the increased contributions from the two ongoing projects were partially offset by the impairment and write-offs of certain assets, as well as the fair value loss on investment property totalling RM25.1 million, according to the property developer s bourse filing.
Quarterly revenue rose 21.78% to RM472.78 million from RM388.22 million in 3QFY20.
On a year-on-year basis, however, the company s net profit fell 37.46% from RM45 million in 4QFY19, despite revenue growing 6.81% from RM442.64 million, as cost of sales rose 14.74% to RM369.85 million from RM322.32 million.
KUALA LUMPUR (Feb 25): Based on corporate announcements and news flow today, companies in focus tomorrow (Feb 26) may include: Axiata Group Bhd, Genting Bhd, Genting Malaysia Bhd, UMW Holdings Bhd, Axiata Group Bhd, Malayan Banking Bhd, Public Bank Bhd, Sime Darby Bhd, Sime Darby Property Bhd, Unisem (M) Bhd, Kerjaya Prospek Group Bhd, S P Setia Bhd, MSM Malaysia Holdings Bhd, Matrix Concepts Holdings Bhd, Dutch Lady Milk Industries Bhd, TSH Resources Bhd, Dagang NeXchange Bhd, Malaysia Building Society Bhd, Malaysian Pacific Industries Bhd, IJM Plantations Bhd, PPB Group Bhd, Kenanga Investment Bank Bhd, Malaysian Resources Corp Bhd, Media Chinese International Ltd, Media Prima Bhd, YTL Corp Bhd, Mah Sing Group Bhd, FGV Holdings Bhd and VS Industry Bhd.
Taman Melawati, also known as just Melawati, is a mature neighbourhood set amid hills and lush greenery. Located in Ulu Kelang, it may not be the first place that comes to mind when you are looking for a spot to hang out with your friends or family. Unlike the trendier Mont’Kiara, Bangsar and Kuala Lumpur city centre, Melawati is more tranquil and lacks the bustle of activity found in the more popular areas. But that does not make it any less attractive.
According to VPC Alliance Sdn Bhd managing director James Wong, Melawati was previously a rubber plantation named Hawthornton Estate. Development of the township, the first by Negara Properties (M) Bhd, began in the 1970s. The developer is now a wholly-owned subsidiary of Sime Darby Property Bhd.
KUALA LUMPUR (Feb 19): Mah Sing Group Bhd will be developing 100 acres (40.47ha) of landed residential development in Bandar Baru Salak Tinggi. Subject to market conditions and the relevant authorities’ approval, the development is tentatively named as M Senyum and has an estimated gross development value (GDV) of RM656 million. The development is expected to be developed over five years, with registration of interest and the project launch targeted to start in the second half of 2021 (2H21).
“M Senyum will comprise mainly double-storey terraced houses, with land sizes of 18ft by 65ft and 20ft by 70ft, and are indicatively priced from RM399,000. This aligns with the group’s strategy of focusing on affordable landed homes in the outskirts/suburban areas and affordable high-rises in the central business district areas,” it said in a press statement.
will develop 100 acres of land in Bandar Baru Salak Tinggi into affordable landed homes with an estimated gross development value of RM656mil.
This comes after the property group s subsidiary, Oasis Garden Development Sdn Bhd, accepted the counter offer approval letter from the Sepang District/Land Office for the alienation of the 100 acres for RM95.83mil, it said in a filing with Bursa Malaysia today.
The residential development will be named M Senyum and comprise mainly double-storey terrace house with indicative land sizes of 18X65 and 20X70.
The units have an indicative starting price of RM399,000.
M Senyum is expected to be developed over a span of five years with registration of interest and launching targeted for the second half of 2021.