Matrix Concepts Holdings Bhd founder and group executive deputy chairman Datuk Seri Lee Tian Hock has transferred 10 million shares to his son Kelvin Lee Chin Chuan, who is also the company’s group executive director.

In a statement, Matrix Concepts said Chin Chuan will be driving the next phase of the company’s journey, bringing fresh energy to its vision of growth and innovation.

“The company is looking forward to this chapter as we continue to strengthen our position as a leading developer and trusted brand,” the property developer added.

The transfer, executed via RHB Nominees (Tempatan) Sdn Bhd – RHB Asset Management for Chin Chuan, was made at nil consideration, said Matrix Concepts.

Following this transaction, Chin Chuan’s shareholding in the company increased to 1.563%, comprising 1.403% direct interest and 0.16% deemed interest through his spouse. In total, Chin Chuan now holds 29.34 million shares in Matrix Concepts.

Tian Hock held a 32.527% stake in the company, comprising 9.508% direct interest and 23.019% indirect interest as at Oct 1, 2025.

Chin Chuan joined Matrix Group in 2018 as executive assistant to the group managing director and left in 2021 to pursue his career, holding directorships in several family-owned companies. He is currently also a committee member of the Real Estate Housing Developers’ Association Negeri Sembilan, the company’s latest annual report showed.

At 4.40pm on Thursday, Matrix Concepts’ share price dropped one sen or 0.71% to RM1.40, giving the company a market capitalisation of RM2.63 billion.