This achievement would not have been possible without the dedication of the Mah Sing team, Leong said.
KUALA LUMPUR: Fortune Southeast Asia 500 announced Mah Sing Group Bhd as one of Southeast Asia's largest companies by revenue, reflecting the group’s strong performance and growth.
In the financial year 2023, Mah Sing reported a revenue increase of 12.3%, reaching RM2.6bil from the previous RM2.32bil. The company also achieved a 24% increase in profit before tax, from RM264.1mil to RM327.4mil in FY2022.
With a sales target of RM2.5bil, Mah Sing achieved RM992mil in property sales within the first five months of 2024. It was reported that this performance was driven by demand for the affordable M Series developments.
“Mah Sing’s inclusion in the prestigious Fortune Southeast Asia 500, alongside some of the region’s most outstanding companies, is a significant accolade for the Group. This achievement would not have been possible without the dedication of the Mah Sing team. With the exceptional team, our agile business model and prudent capital management, we will continue to innovate and evolve to stay ahead in the competitive landscape, while upholding our brand promise of excellence in service, sustainable operations and the delivery of quality, affordable homes,” Mah Sing founder and group managing director Tan Sri Leong Hoy Kum said.
“Moving forward, we remain committed to pushing boundaries to deliver exceptional values to our stakeholders and to set new benchmarks in our industry and the region,” he added.
As of May, Mah Sing has acquired two land banks, MSS Business Park in Sepang and M Tiara 2 landed link homes in Johor Bahru. Alongside five other land acquisitions in 2023, these projects are reported to add RM8.95bil to Mah Sing’s gross development value.
MSS Business Park is an industrial development targeted to commence construction in the second half of 2024, priced from RM2.5mil.
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