Mah Sing Group Bhd’s shares were noted at RM1.07, down 3.6% from the previous trading session, with 13.9987 million shares traded as of 4.29 pm.
The stock opened at RM1.12, hitting a high of RM1.13 and a low of RM1.07 during the day, while the last average closing price stood at RM1.11.
Despite the intraday decline, analysts remain optimistic on the property developer, citing a healthy sales pipeline and solid financial footing.
RHB Investment Bank Bhd, MBSB Investment Bank Bhd, and CIMB Investment Bank Bhd all maintain BUY calls on Mah Sing, with target prices ranging from RM1.49 to RM1.73.
RHB Research noted FY25 property sales of RM2.51 billion fell slightly short of the RM2.65 billion target due to slower-than-expected approvals, though management aims for RM2.76 billion in FY26.
The group’s unbilled sales of RM3.24 billion provide earnings visibility, while its plastics and gloves division showed early signs of recovery, recording RM2.15 million in EBIT compared with a prior quarterly loss.
MBSB Research reported FY25 core net income of RM246.1 million, broadly in line with expectations, with sequential 4Q25 earnings down 21% amid higher administrative and financing costs.
The bank highlighted Mah Sing’s stable net gearing of 0.26x and a planned RM3.45 billion launch pipeline for FY26, featuring projects such as M Aria, M Aurora, M Mira, and M Cora.
CIMB Securities noted that FY25 core profit of RM250 million met 98% of its full-year forecast and underlined decade-high property sales of RM2.5 billion, slightly below target due to approval delays.
Analysts expect the group’s focus on affordable and higher-margin projects, coupled with low gearing and strong unbilled sales, to support long-term growth and potential re-rating.
