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26 May, 2022
Matrix Concepts hits record RM1.3bil in FY2022 sales and proposes a bonus share issuance, backed by strong demand at Sendayan Developments despite labour challenges.
Our FY2022 results told a story of resilience. Record new property sales of RM1.3 billion, take-up rates of up to 100% for our January 2022 launches, and a proposed bonus share issuance to reward and grow our investor base, all achieved against the backdrop of border restrictions and labour supply challenges. It reflects the strength of what we have built at Sendayan Developments and our confidence in what lies ahead. With international borders reopening and construction momentum picking up, we are excited about the next chapter. Find out more about our developments and growth strategy.
Matrix Concepts Holdings Bhd achieved record new property sales of RM1.3 billion in FY22, driven by strong demand for affordable-premium homes in its Sendayan Developments township. More than 60% of sales came from homes priced below RM500,000, with new launches such as Bayu Sutera 1 and Tiara Sendayan II achieving take-up rates of 95% and 100%.
Despite strong sales, the company’s FY22 revenue and profit declined due to construction delays caused by pandemic restrictions and labour shortages. Revenue fell to RM886.8 million, while profit after tax stood at RM200.7 million.
Looking ahead, Matrix Concepts remains optimistic as Malaysia’s economic recovery and reopening of borders are expected to improve construction progress and support future property demand. The company also proposed a bonus share issue to increase share liquidity and encourage investor participation.
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