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Matrix Concepts 3Q14 net profit grows 24.5% on sustained billings

  • Plans more than RM1 billion new launches in 2015 to meet demand
  • Declares third interim single tier dividend of 3.75 sen per share in respect of FY2014 to be paid on 15 January 2015


Seremban, Negeri Sembilan, Malaysia, 17 November 2014 – Leading Negeri Sembilan property developer Matrix Concepts Holdings Berhad (Matrix Concepts; 金群利集团; Bloomberg: MCH:MK; Reuters: MATR.KL) reported 24.5% higher net profit of RM45.1 million in the third quarter ended 30 September 2014 (3Q14), compared to RM36.2 million in the previous corresponding quarter.

Group revenue for the quarter increased by 16.8% to RM148.8 million from RM127.4 million a year ago, spurred mainly by steady billings in tandem with construction progress.

Matrix Concepts launched two new projects in 3Q14 with total Gross Development Value (GDV) of RM145.5 million, comprising landed residential properties in its townships – Bandar Sri Sendayan in Seremban, Negeri Sembilan, and Taman Seri Impian in Kluang, Johor.  With the new launches, total projects launched to-date for 2014 amounted to GDV of RM559 million.

Dato’ Haji Mohamad Haslah bin Mohamad Amin, Chairman of Matrix Concepts Holdings Berhad said:

“We are pleased to note that our newest launches have been met with encouraging response with take-ups of more than 30% within weeks. As a matter of fact, all our new launches in 2014 have achieved more than 70% take up rate.

We believe that the new sales demonstrate the resilient demand for affordable landed properties and our reputation as leading property developer.

With such positive indications from buyers, we are preparing to launch more than RM1 billion GDV worth of properties in 2015, which will further sustain our performance for the long term.”

Read the press release here.