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The Sun
3 days ago
- Business
- The Sun
Mah Sing new sales in first 5 months of 2025 top RM1b
KUALA LUMPUR: Mah Sing group Bhd recorded a profit before tax (PBT) of RM91.4 million on the back of revenue of RM649.7 million for the first quarter ended March 31, 2025 (Q1'25), compared to RM82.1 million and RM558.2 million in the same quarter of the preceding year, representing 11.4% and 16.4% improvement respectively. The group recorded RM1.01 billion in new property sales during the first five months of 2025 compared to RM992 million achieved in the same period in the preceding year. Backed by strong sales momentum and a strategic focus on its M Series affordable offerings, Mah Sing has more launches lined up for 2H'25, spanning the Central, Northern, and Southern regions. The group remains confident of achieving its full-year sales target of a minimum of RM2.65 billion. The group's prudent capital management and strong operational execution have enabled them to maintain a healthy balance sheet with approximately RM1 billion in cash, bank balances and short-term investments as of May 30, 2025, and a low net gearing of 0.17x as of March 31, 2025. This financial strength empowers Mah Sing to seize strategic opportunities such as their recent land acquisition – M Aria in Sentul with GDV of RM283 million. For 2025, the group has over RM3.3 billion worth of new property launches planned. Its newly launched projects have already attracted strong interest in the first five months of the year which include Phase 1A Impira of M Legasi in Semenyih, Residensi Suria Madani in Taman Desa, Phase 4A5 Allamanda and Phase 1B Jasmine of Meridin East, as well as Phase 2B of M Tiara in Johor Bahru. In the Central region, the group will be opening the M Legasi Show Village in Semenyih in June 2025, which is the group's largest township in the region with a GDV of RM3.3 billion. Last month, the group secured more than 90% take-up for Phase 1, Impira, during its opening weekend. Phase 1B is now open for sale. The new Show Village will allow homebuyers to experience a realistic preview of their future homes. Other new launches in the Central region include M Aurora in Old Klang Road, a transit-oriented development, and M Aria in Sentul. The ongoing projects in this region are M Aspira in Taman Desa, M Azura in Setapak, M Terra in Puchong, M Nova and M Zenya in Kepong, as well as M Sinar in Southville City, Bangi. In the Southern region, Johor remains the group's second-largest development hub after Klang Valley. The group will be launching its new premium M Grand Series lifestyle development – M Grand Minori in Taman Pelangi, Johor Bahru. Located just 3km from the upcoming Johor–Singapore RTS Link and near the Special Economic Zone, this development has a GDV of approximately RM1.5 billion. Scheduled for launch this year, a 3-storey sales gallery with show units will be opened for customers in June 2025. Another new development planned for launch this year is Tiara Hills in Johor Bahru, which offers super-linked homes with an estimated GDV of RM463 million. Also slated for launch this year is M Tiara 2 in Johor Bahru, with a GDV of approximately RM1.45 billion. The ongoing projects in the Southern region include M Tiara, Meridin East, and M Minori. In the Northern region, the group will unveil M Zenni in Penang, a freehold mixed development located in Southbay, Batu Maung with an estimated GDV of RM309 million. M Zenni is targeted for launch in Q4'25. The ongoing project in the Northern region is Ferringhi Residence 2 in Penang, a development expected to benefit from the newly approved North Coastal Paired Road project. As of end May 2025, the group maintained a strong financial position with approximately RM1 billion in cash, bank balances and short-term investments. As at March 31, 2025, its net gearing is 0.17x. The group paid a dividend of 4.5 sen on May 26, 2025, representing approximately a 48% payout, surpassing their minimum 40% payout policy and reflecting their ongoing commitment to reward shareholders while supporting sustainable growth. The group's unbilled sales of approximately RM2.73 billion offer clear visibility for future revenue. Mah Sing's property development segment recorded an operating profit of RM103.4 million on the back of revenue of RM521 million, which were 16.3% and 16.2% respectively, higher than the operating profit and revenue as compared to the preceding year's corresponding quarter. The higher revenue and operating profit were mainly driven by progressive revenue recognition from ongoing construction progress.
New Straits Times
09-05-2025
- New Straits Times
From Central America to Malaysia: Bukit Aman, DEA probe synthetic drug trail
Police tell AUSTIN CAMOENS they are working with US authorities to determine why and how synthetic drugs are brought into Malaysia from Central America POLICE are working with the United States Drug Enforcement Administration (DEA) to determine how a Malaysian drug syndicate, led by a group of relatives, procured synthetic drugs from Central America. The federal Narcotic Crime Investigation Department (NCID) is investigating the movements and travel history of three suspects arrested last month. "We will go through immigration records to see if they had travelled to Central America," said acting Federal NCID director Deputy Commissioner Mat Zani @ Mohd Salahuddin Che Ali. "We want to know why and how the syndicate secured supplies from there. This is highly unusual, as syndicates here commonly obtain their supply from the Golden Triangle, as it is cheaper," he said. On April 29, police dismantled the family-run syndicate after arresting three men in a series of raids. They seized 2.16 tonnes of methamphetamine, ketamine and ecstasy — believed to have originated from a Central American country. Malaysian social media users have dubbed the case "Narcos Malaysia", after the hit Netflix series Narcos. Mat Zani said the syndicate might have been trying to avoid increased scrutiny associated with drug consignments from the Golden Triangle — a region that includes parts of Myanmar, China, Laos and Thailand. The area has long been a source of illicit drugs due to its remote and mountainous terrain, the presence of warlords and conditions ideal for opium cultivation. In recent years, it has also become a hub for methamphetamine production. "The Central American syndicate could be testing the market through this consignment," Mat Zani said. While investigations into the Central American connection are ongoing, police are also tracking down two more suspects believed to be remnant members of the syndicate. "We believe they are still in Malaysia and are taking the necessary steps to apprehend them," he said. Mat Zani revealed the three arrested suspects are related through marriage. "Checks showed that two of the suspects are married to the elder sisters of the third suspect," he said. One suspect has a criminal intimidation record, another has a previous drug offence, while the third has no criminal record. Export plans Documents seized during the raids indicate the synthetic drugs — worth RM82.1 million — were smuggled into the country in a shipping container declared as carrying "plastic flakes". The syndicate was planning to distribute the drugs locally, as well as in Japan and South Korea, where 1kg of methamphetamine is worth about RM400,000. Mat Zani said the drugs were to be exported via courier services. "They would be hidden in parcels and shipped to both countries. We are also investigating if the syndicate had previously sent drugs there," he said. Trafficking drugs via courier has become a common method for syndicates. Both the police and Customs Department have uncovered such tactics in previous busts. At the 64th session of the Commission on Narcotic Drugs in 2021, Interpol reported that trafficking of illicit drugs via postal mail and express couriers had "exploded" post-Covid-19 pandemic. Mat Zani urged anyone with information on the case or drug-related activity to contact the NCID hotline at 012-208 7222.
Daily Express
29-04-2025
- Business
- Daily Express
RM83 billion Sabah GDP growth: Chief Minister
Published on: Wednesday, April 30, 2025 Published on: Wed, Apr 30, 2025 Text Size: Hajiji speaking to a member of the council after the State Development Action Council meeting. Kota Kinabalu: Sabah's economy registered encouraging growth with its Gross Domestic Product (total value of goods and services) increasing to RM83.2 billion last year from RM82.1 billion in 2023, said Chief Minister Datuk Seri Hajiji Noor. 'This shows a momentum of continuous improvement and positive development in Sabah,' he said, adding it is in line with the national GDP which is expected to increase by 2.5 per cent through the Madani Economy Framework that saw the restructuring of Malaysia's economy under the National 2025 Budget. Chairing the State Development Action Council (MTNg) meeting at Menara Kinabalu, Tuesday, he attributed the achievement to co-operation from various quarters in the State. 'If we continue to contribute our energy positively through close cooperation, it is not impossible to successfully implement our Hala Tuju Sabah Maju Jaya aspirations,' he said. He urged relevant agencies to ensure all initiatives and programmes under the 12th Malaysia Plan (12MP) and Hala Tuju Sabah Maju Jaya development blueprint are implemented to spur economic growth and to lift the people's livelihood. Under the 13MP, the State Government has formulated a State Strategic Development Hala Tuju as a proactive step to spur Sabah's economy and development from 2026 to 2030. 'It is also an early framework that takes into consideration the policy, blueprint and current development plan. Various initiatives will be initiated encompassing the Blue Economy initiative and each state development agenda under the 13MP,' he said. Despite the various successes, Hajiji said the State Government must not become complacent. 'We must continue to work hard and be more proactive. All State leadership, heads of department and heads at district-level must go down to the ground more frequently to monitor ongoing programme or project implementation. 'This is important to ensure all programmes are done well and thoroughly,' he said, adding that this year 1,265 projects and programmes must be completed in Sabah. All the implementing agencies must constantly monitor these projects' progress and ensure they are completed according to schedule, he said. Sabah is among the highest recipients of the national budget, with RM6.7 billion allocated by the Federal Government this year. 'This proves that the voices of the people and leaders of Sabah are heard. It also demonstrates we are very serious and will strive to boost the State's development,' he said. 'We must do a paradigm shift to ensure the success of all our plans. We should do away with outdated processes and we must change attitudes that focus on the negatives without evaluating or crediting the successes or contributions made to the State,' he said. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Malay Mail
29-04-2025
- Business
- Malay Mail
Sabah's GDP growth reaches RM83.2b last year, boosted by national and state initiatives, says CM
KOTA KINABALU, April 29 — Sabah's economy has shown positive growth as its gross domestic product (GDP) rose to RM83.2 billion last year from RM82.1 billion in 2023, said Chief Minister Datuk Seri Hajiji Noor. In a statement after chairing the State Development Action Council meeting at Menara Kinabalu here today, Hajiji attributed the achievement to strong cooperation from various stakeholders in the state. 'The growth aligns with the national GDP, which is projected to increase by 2.5 per cent through the Madani Economy Framework,' he said. The chief minister emphasised the importance of continuing positive contributions and close cooperation to realise the Hala Tuju Sabah Maju Jaya aspirations. He also revealed that the state government has developed the Sabah State Strategic Development Plan 2026-2030 to boost Sabah's economy. 'This framework will incorporate various initiatives, including the Blue Economy initiative and state development agendas under the 13th Malaysia Plan,' he said. On the same note, Hajiji called for increased ground monitoring of the 1,265 projects and programmes scheduled for completion this year, urging state leadership and department heads to maintain closer supervision. This requires a paradigm shift in implementation, he said, emphasising the need to move away from outdated processes and negative mindsets that fail to acknowledge the state's achievements. He noted that Sabah received one of the highest allocations under the national budget, with RM6.7 billion allocated by the federal government this year. He added that the substantial allocation demonstrates the federal government's commitment to Sabah's development. — Bernama
Borneo Post
29-04-2025
- Business
- Borneo Post
CM: Sabah's economy remains on a positive trend
Hajiji speaking to a member of the council after the State Development Action Council meeting. KOTA KINABALU (April 29): Sabah's economy has registered encouraging growth with its Gross Domestic Product (GDP) increasing from RM82.1 billion in 2023 to RM83.2 billion in 2024, said Chief Minister Datuk Seri Panglima Hajiji Noor. 'This shows a momentum of continuous improvement and positive development in Sabah,' he said, adding this was in line with the national GDP, which is expected to increase by 2.5 per cent through the Madani Economy Framework that saw the restructuring of Malaysia's economy under the National 2025 Budget. Chairing the State Development Action Council (MTNg) meeting at Menara Kinabalu here on Tuesday, the Chief Minister said the achievement was due to cooperation from various quarters in the state. 'If we continue to contribute our energy positively through close cooperation, it is not impossible to successfully implement our Hala Tuju Sabah Maju Jaya aspirations,' he said. He urged relevant agencies to ensure all initiatives and programmes under the 12th Malaysia Plan (12MP) and Hala Tuju Sabah Maju Jaya development blueprint are implemented to spur economic growth and to uplift the people's livelihood. Under the 13MP, the Chief Minister said the State Government has formulated a State Strategic Development Hala Tuju as a proactive step to spur Sabah's economy and development from 2026 to 2030. 'It is also an early framework that takes into consideration the policy, blueprint and current development plan. Various initiatives will be initiated encompassing the Blue Economy initiative and each state development agenda under the 13MP,' he said. Despite the various successes through the Hala Tuju SMJ initiatives and positive figures from all the released data to date, Hajiji said the State Government must not rest on its laurel and become complacent. 'We must continue to work hard and be more proactive. All state leadership, heads of department and heads at district level must go down to the ground more frequently to monitor ongoing programme or project implementation. 'This is important to ensure all programmes are done well and thoroughly,' he said, adding that this year 1,265 projects and programmes must be completed in Sabah. 'All the implementing agencies must constantly monitor these projects' progress and ensure they are completed according to schedule,' he said. According to him, Sabah is among the highest recipients of the national budget, with RM6.7 billion allocated by the Federal Government this year. 'This proves that the voices of the people and leaders of Sabah are heard at the federal level. It also demonstrates that we are very serious and will strive to boost the state's development,' he said. 'We must do a paradigm shift to ensure the success of all our plans. We should do away with outdated processes and we must change attitude that focus on the negatives without evaluating or crediting the successes or contributions made to the state,' he said.
