Mah Sing founder and group managing director Tan Sri Leong Hoy Kum
PETALING JAYA: Property developer Mah Sing Group Bhd
will focus on its core residential property segment in 2025, while capitalising on emerging opportunities in industrial developments, data centres and manufacturing.
In a statement, founder and group managing director Tan Sri Leong Hoy Kum said the residential property market is expected to remain resilient in 2025, driven by stable employment conditions, civil servant wage growth and initiatives such as the flexible Employees Provident Fund Account 3 scheme.
“Affordable housing remains the core of Mah Sing’s property development business. The Group’s M Series, offering homes priced below RM500,000, targets first-time buyers and middle-income earners.
“Projects like M Aspira, M Nova, M Sinar and M Zenya have consistently attracted significant interest, reflecting the promising appetite for affordably priced homes with high-quality features.”
Additionally, Leong said Mah Sing’s industrial segment is set for substantial growth in 2025 with its industrial development, the MSS Business Park in Sepang.
“This development aligns with Malaysia’s advantage in the ‘China Plus One’ strategy, where global manufacturers are diversifying operations to reduce dependence on China.
“With Malaysia recognised as a stable and cost-effective destination for foreign direct investment, Mah Sing is well-positioned to capitalise on this trend.
“The industrial segment is anticipated to contribute to the group’s earnings in the years ahead.”
In response to the growing demand for cloud computing and data services, Leong said Mah Sing has ventured into the data centre business, marking a strategic diversification into a high-growth sector.
“The group’s partnership with Bridge Data Centres aims to develop a 300MW power capacity data centre at Mah Sing DC Hub@Southville City, with operations expected to commence in phases by 2026.
“This collaboration is part of a larger plan to establish Southville City as a regional data centre hub, with a total planned capacity of 500MW power capacity across 150 acres.
“The data centre segment not only enhances Mah Sing’s recurring income streams, but also underscores its commitment to sustainability through energy-efficient designs and infrastructure.”
In addition to Southville City, Leong said Mah Sing is exploring data centre opportunities on a 42-acre site in Meridin East Township, Johor Baru.
“The site offers a potential 300MW power capacity and presents a lucrative opportunity to unlock value from the group’s landbank through land sales or joint ventures.”
As the group enters 2025, Leong said Mah Sing’s diversified growth strategy positions the company to navigate challenges while capitalising on opportunities in the residential, industrial, data centre and manufacturing segments.
“By maintaining a strong focus on disciplined execution, strategic landbanking and innovative ventures, Mah Sing reaffirms its dedication to delivering sustainable value to its stakeholders.”
Mah Sing posted a 20% year-on-year rise in net profit to RM60.05mil, or an earnings per share of 2.35 sen, in the third quarter ended Sept 30, 2024 (3Q24), despite revenue declining to RM639.29mil as compared to RM644.26mil in 3Q23.
In a statement on its latest financial results, last month, Mah Sing said it is on track to meet its RM2.5bil sales target for the year, taking into account its total sales of RM1.85bil for the nine months ended Sept 30, 2024.
