While property players are having difficulty making their sales amidst the raging pandemic, one player appears to have bucked the trend and is achieving its targets and perhaps exceeding it according to some analysts in the sector.
Its recipe for keeping its property sales high is that it listens to the market feedback and aligns its business strategies and offerings with the latest market trends to meet the homebuyers’ demand.
Ho says that its unique concept, as well as innovative design and well-thought layout, fits the preference of various buyers’ segments and categories. “Our affordable projects are also strategically located with good connectivity and accessibility, and come with ample facilities as well as amenities to cater to the current home buyers’ preferred lifestyle,” says chief executive officer Datuk Ho Hon Sang to Business Today in an email interview.
He says that younger homebuyers might prefer properties in the city centre that offer convenience, facilities, and good security as influenced by their lifestyle.
“Meanwhile, older generations will emphasise more on bigger space to accommodate the size of their household, which we will be planning to cater to their respective needs via our broad product mix, “says Ho.
Mah Sing Corp Bhd is set to achieve a sales target of RM1.6 billion for the entire 2021 with 91% of products priced below RM700,000, and 51% below RM500,000.
“We are pleased to achieve property sales of approximately RM650.5million for the first 5 months of 2021 as at end May 2021, while locking in RM400 million for the first quarter ended 31 March 2021,” Ho says.
Aside from this Ho says that the company was also aggressive in its sales; it had launched several digital marketing campaigns this year to attract and capture the audience from various demographics.
“For the first half of the year, we launched the “Home with Mah Sing” campaign and “Come Home 2 Mah Sing” campaign in January 2021 and April 2021 respectively. combined with Maybank Islamic financing solution, HouzKEY, these campaigns offered easy payment schemes and various incentives aiming at easing the journey towards homeownership,’ says Ho.
“We also launched the “Mah Sing NOW” campaign recently that coincided with the country’s ongoing vaccination programme. This campaign offered three doses of ownership boosters, namely Own Now, Zero Now, and Save Now, where the homebuyers can enjoy the incentives such as low booking fee, zero payment during construction, saving up to 50% off monthly payments.
“Additional cash incentive also awaits buyers who can prove that they are vaccinated or have registered for vaccination, by showcasing their vaccination certificate or appointment”, he says.
Analysts have also been quick to point that many property companies are having difficulty with cash flow, Mah Sing’s unique business recipe is providing it with the bounties evidenced by the fact that it can maintain cash and bank balances and investments in short-term investments of approximately RM901.2 million as at 31 March 2021.
On its glove manufacturing business, Ho says that it has an annual production capacity of up to 3.68 billion pieces of gloves once fully completed, with 12 high-speed production lines under Phase 1. These new, high-speed glove dipping machines can produce at a speed of 38,000 pieces of gloves per production line per hour.
He says that in June 2021, our healthcare business unit, Mah Sing Healthcare, has secured long-term glove orders which takes up to four glove dipping lines’ production capacity.
The orders reflect market confidence towards Mah Sing as a credible new glove manufacturer in producing quality gloves, he says. “We have also continuously received enquiries from distributors and customers around the world and are currently in negotiation with more interested parties to lock down their orders,” he says.
“Moving forward, we will focus on gradually expanding the capacity at our glove factory to meet the demand globally.”
On export of gloves, Ho says that it focuses on exports with markets that are its buyers and distributors such as the US, Canada, Middle East, Europe, United Kingdom, Japan, China, Korea, Singapore, Russia, and Latin America.
Looking ahead, He says that it targets to expand further its business under Phase 2 should the glove demand continue to outstrip supply for Phase 1.
The company aims to be one of the top 5 glove producers in Malaysia in the future, he says, adding that it will be exploring the listing of its manufacturing/healthcare divisions separately to better unlock value for Mah Sing shareholders.
Ho also says that it was targeting to team up with potential partners to venture into other healthcare-related products such as manufacturing and/or distribution of personal protective equipment, pharmaceutical or medical products, and services.
