KUALA LUMPUR: Mah Sing Group Bhd has locked in RM1.32 billion in property sales through the first half of 2026, putting the developer squarely on pace to hit its full-year target.
The results arrive as Malaysian homebuyers continue gravitating toward well-priced residences in connected locations. Mah Sing credited sustained uptake across its M Series portfolio, along with carryover momentum from existing launches and a slate of upcoming project rollouts for the remainder of the year.
Completion milestones expected before year-end include M Nova in Kepong, Phases 3A and 3B of M Senyum’s landed homes in Salak Tinggi, and Phase 4A2 of Meridin East in Johor Bahru. Those handovers should unlock vacant possession proceeds exceeding RM250 million, according to company filings.
Second-quarter net profit climbed to RM72.47 million from RM66.02 million a year earlier. Revenue jumped to RM656.29 million from RM565.92 million over the same stretch. For the six-month period, net earnings rose to RM140.55 million versus RM132.06 million previously, while revenue held steady at RM1.22 billion.
Liquidity remained healthy. Cash and bank balances sat at RM1.01 billion as of June 30, with a net gearing ratio of 0.39 times.
First-half earnings drew from projects including M Nova, M Zenya, M Azura, M Astra, M Legasi, M Senyum, Meridin East, M Tiara, and M Minori. Secondary contributions came from M Aspira, M Terra, Southville City, M Panora, and M Grand Minori.
Meanwhile, the manufacturing arm flipped to an operating profit of RM9.7 million from a loss of RM5.2 million a year prior. Better factory utilisation in the glove division, firmer average selling prices, and cost-trimming after divesting the automotive parts unit drove the turnaround.
Mah Sing also flagged a planned sale of roughly 78.8 acres of commercial land within Mah Sing DC Hub @ Southville City. The RM617.9 million disposal to a subsidiary of an international digital infrastructure group frees up capital for redeployment into higher-yielding ventures.
Founder and Group Managing Director Tan Sri Leong Hoy Kum said the company will press ahead with its “monetise, develop and own” approach, including a proposed colocation data centre with an experienced operator. He framed property as the core business while describing digital infrastructure as a second engine for recurring income and long-term shareholder value.
