19/06/2025

PROPERTY THURSDAY | JUNE 19, 2025

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Mah Sing new sales in first 5 months of 2025 top RM1b

UEM Sunrise Q1 results buoyed by ongoing developments KUALA LUMPUR: UEM Sunrise Bhd posted a profit after tax and non-controlling interests (Patanci) of RM20.5 million for the first quarter ended March 31, 2025 (Q1’25), representing a 150% increase from RM8.2 million recorded in the same quarter last year. Revenue rose 86% year-on-year (y-o-y) to RM417.6 million from RM225 million in Q1’24, driven by stronger contributions from ongoing developments. The MINH, Serene Heights, Residensi ZIG, Residensi AVA from the Central region, coupled with Senadi Hills, Aspira Hills and Aspira LakeHomes from the Southern region, all recorded steady operational progress. Sales progress remained strong, with RM370.6 million recorded during the quarter vis-a-vis RM232.6 million a year ago. This uptick was driven by successful launches and steady demand for ongoing developments. The Central region led performance with RM201.2 million (54.3%) from 222 units sold while, the Southern region contributed RM169.4 million (45.7%) from 260 units, bringing the total units sold in Q1’25 to 482. UEM Sunrise attributed the stronger financial and operational performance to sustained focus on execution, enhanced project delivery and ongoing transformation initiatives aimed at strengthening operational efficiency. UEM Sunrise officer-in-charge and chief financial officer Hafizuddin Sulaiman said, “This is our strongest Q1 Patanci since 2019. These results reflect the strength of our foundations and our ability to deliver, even in a dynamic market. The progress we are making is the outcome of disciplined execution, a sharper focus on operational excellence and our transformation journey to be a thoughtful master planner and innovative developer in delivering sustainable long-term value for our home purchasers and stakeholders.” UEM Sunrise maintained a healthy financial position, with cash and bank balances including short-term investments amounting to RM1.56 billion as at March 31, 2025, up 55% from RM1.01 billion a year ago. Unbilled sales rose to RM3.02 billion, offering earnings visibility for the next 18 to 36 months. Inventories declined to RM89.3 million from RM118.2 million in Q1’24. Net gearing improved to 0.41 times from 0.47 times y-o-y. During the quarter, UEM Sunrise signed a MoU with Singapore-based real estate group GuocoLand Ltd, marking the first MoU inked under the Johor-Singapore Special Economic Zone (JS-SEZ) initiative. The collaboration underscores both parties’ commitment to forging strategic cross-border partnerships to catalyse growth in JS-SEZ, reinforcing Iskandar Puteri as a key economic hub in Flagship Zone B for high-impact investments and exportable services. “As we navigate the rest of 2025, we will continue to prioritise sustainable growth, strategic partnerships and disciplined capital management. With a solid pipeline, strong brand equity and a clear focus on delivery, we are confident in our ability to unlock more value, strengthen our market presence and build a future-ready UEM Sunrise,” Hafizuddin said. In 2025, UEM Sunrise is also advancing its international expansion with a landmark mixed use residential development in Subiaco East, Perth – its first venture in Western Australia.

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.

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

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. o Group gears up for more launches in second half, confident of meeting full-year target of at least RM2.65b TA Global breaks ground on RM3b CloutHaus next to Petronas Twin Towers KUALA LUMPUR: TA Global Bhd celebrated a significant milestone recently with the official groundbreaking of the superstructure construction for CloutHaus, marking the launch of one of the most anticipated luxury developments in the heart of Kuala Lumpur City Centre (KLCC). The event, held at the CloutHaus construction site on Jalan P. Ramlee, was officiated by CEO Tiah Joo Kim, COO Lee Yen Foong, and representatives from main contractor HAB Construction. CloutHaus will feature two towers rising to 276m with an estimated GDV of RM3 billion. The first tower, CloutHaus Residences, will offer 615 luxury serviced apartment units in a 66 storey tower, and completion is slated for Q2’29. The second tower will house Malaysia’s first Paradox Hotel and 242 Paradox-branded residences. “CloutHaus is more than a development – it is a statement,” said Tiah. “Located next to the iconic Petronas Twin Towers, this is the ultimate address of luxury. We envisioned CloutHaus as a sanctuary for the influential. Every detail, from the architecture to the amenities, has been crafted for those who expect the very best from the places they call home.” The name CloutHaus symbolises influence and home, reflecting the development’s vision

From left: TA Global Bhd senior manager Mohd Saiful Mohd Tajudin, TA Global CloutHaus project director Ernest Yeap, HAB Construction executive director Wilson Haw, Ong, Tiah, Lee, TA Global sales & marketing director Ken Choy, and HAB Construction general manager OK Lim at the groundbreaking ceremony.

works valued at RM993.5 million. “We are thrilled to collaborate with TA Global on a landmark project like CloutHaus. As a construction partner, we are excited to help realise this bold vision, transforming one of Kuala Lumpur’s last prime sites into a vertical community that redefines city living,” said HAB Construction executive director Ong Tien Ling.

to be a sanctuary for the powerful and discerning. Fully furnished units will range from 549 sq ft to 1,216 sq ft offering a mix of studio, 1- , 2- (including dual-key), and 3-bedroom layouts. At the ceremony, TA Global also announced the appointment of HAB Construction as the main contractor for CloutHaus, awarding a contract for the superstructure main building

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