Mah Sing Group Bhd said that on track to achieve its 2022 sales target of RM2billion new property sales with continuous economic recovery and more sales impetus for its products
In a statement in conjunction with its annual general meeting, it said that it locked in approximately an RM450million new property sales which are mainly driven by the strong take-up for affordable products in Q12022.
It said that the Group will continue to strengthen its product leadership position in affordable homes targeting first-time homebuyers.
94% of the Group’s target sales are from properties priced below RM700,000 and 60% priced below RM500,000. Hence, Mah Sing is looking forward the upcoming launches of M Astra (from RM399,000) in Setapak, and M Nova (from RM318,000) in Kepong in 2H2022. At the same time, existing projects like M Vertica which will be handed over to owners ahead of schedule continue` to enjoy strong demand for its balance units,” Mah Singh Group said.
Mah Sing maintains a strong balance sheet, with cash and bank balances as well as short-term fund investments of approximately RM1.01billion as at 31 March 2022. The Group has further strengthened its financial profile flexibility through the redemption of perpetual and locking in fixed-term financing at favourable rates.
