Growth drivers: Datuk Seri Lee Tian Hock (left), founder and group executive deputy chairman of Matrix Concepts, and chairman Mohamad Haslah at the event. The firm is targeting RM1.3bil of new property sales in FY25.
PETALING JAYA: Property developer Matrix Concepts Holdings Bhd has set its sights on its next major phase of transformative growth, underscored by a robust development pipeline exceeding RM20bil over the next decade.
For the financial year ending March 31, 2025 (FY25), the group anticipates continued growth supported by ongoing projects, strategic expansions and its strategically diversified business segments.
In its post-AGM statement yesterday, Matrix Concepts said it is targeting RM1.3bil of new property sales in FY25, with a strategic launch pipeline for the year exceeding RM1.6bil in value, strategically located across key regions including Negri Sembilan, the Klang Valley and Johor.
The group’s optimism is also underpinned by recent resilient financial performance, general economic improvements and renewed homebuyers’ sentiment.
For FY24, Matrix Concepts reported its second-highest net profit on record of RM246.5mil, a significant 18.9% increase compared to the previous year on the back of RM1.3bil in revenue, its highest to date.
Additionally, new property sales for FY24 grew to RM1.25bil, driven by strong demand across its diversified property portfolio.
According to chairman Datuk Mohamad Haslah Mohamad Amin, Matrix Concepts since its listing has firmly established its position as a leading developer that transformed the landscape of living experiences for communities across the country.
“In the past decade, we have created significant value for our shareholders, almost quadrupling the group’s market capitalisation from the initial RM660mil, underpinned by consistent profitability and commitment to our rewarding dividend policy.
“The launch of Malaysia Vision Valley City (MVV City), slated for FY26, will serve as a major game-changer and propel Matrix to greater heights amongst the elite property developers in Malaysia.
“Leveraging on our experience, we hope to replicate and elevate the execution success at Sendayan Developments.
“We are already seeing encouraging response for our industrial properties and mulling on bringing forward these launches to fulfil this demand, following the success of our fully sold industrial properties at Sendayan Tech Valley.
“We also look forward to growing contributions from our other business units. In the past, we have mentioned our intent to diversify our revenue stream and the positive outlook from Mawar Medical Centre is a fair impression on the seriousness of our efforts,” he added.
A major growth catalyst for Matrix Concepts is the planned MVV City development, a joint venture with state-owned NS Corp in Negri Sembilan.
This landmark development, with an initial estimated gross development value of RM12bil over a 12-year period, will be developed in parallel with the group’s flagship Sendayan Developments.
The group’s flagship township, Sendayan Developments continues to be a key driver of growth with close to RM8bil in planned developments over the next decade, banking on robust demand from Klang Valley residents seeking quality-built products and well-planned communities.
The group also has ongoing and planned projects in Johor, contributing to the overall growth strategy.
Since its initial public offering in 2013, Matrix Concepts has consistently achieved significant milestones, having successfully completed over RM12bil in property sales.
The group’s award-winning townships, including Sendayan Developments in Seremban and Bandar Seri Impian in Johor, coupled with strategic expansions into the Klang Valley with projects like Chambers Kuala Lumpur and the recently launched Levia Residences, have redefined the standards of living and reinforced its position as a leader in the property development industry.
Matrix Concepts’ reach extends overseas, with ventures in Indonesia and Australia. This includes the recently completed Menara Syariah, a twin tower commercial development at the central district of Pantai Indah Kapu 2, Jakarta.
Meanwhile, the group’s largest development in Australia, M333 St.Kilda, is enjoying an improved take-up rate despite the upwards price revision exercise post-pandemic.
Matrix Concepts remains committed to creating sustainable value for its shareholders, with a consistent track record of dividend payouts in line with its policy of distributing at least 50% of earnings.
The group’s dividend payments have grown steadily over the years, reflecting its commitment to delivering shareholder value. In the first quarter of FY25 (1Q25), the group declared a first interim dividend of 2.5 sen per share, representing a payout of RM31.3mil or 50.9% of 1Q25 profit after tax.
