19 June 2014

Sendayan developer, Matrix Concepts join ‘billion ringgit club’

  19 June 2014

SEREMBAN: Matrix Concepts Holdings Bhd’s market capitalisation has hit RM1.3 billion since it was listed on Bursa Malaysia in May last year.

“This showed that it is a Negeri Sembilan-based company that we can be proud of, and is in the ‘Billion Ringgit Club’.

“In terms of profitablity, we recorded profits of RM150 million last year and we believe we can continue with this achievement in the coming years,” said chairman Datuk Mohamad Haslah Mohamad Amin.

He was speaking to reporters after the company’s inaugural annual general meeting (AGM) since its listing, here today.

One of the resolutions approved by shareholders at the AGM was the one-for-two bonus issue.

“This is a very good reward to shareholders. We seldom see this...A company listed for one year giving bonus issue to shareholders.

“At the same time, the company pays dividend for every quarter. Last year, we paid net dividend of 35 per cent, which I think is good return compared with other investments,” he said.

He said the company expected to achieve a profit growth of 10 per cent this year compared with last year.

“We hope this good momentum will continue and we hope this year will be another good year for the company,” he added.

Matrix Concepts, a property development company, is involved in the development of Bandar Sri Sendayan (BSS).

BSS in Sendayan is a mega comprehensive development sprawled over 2,118 hectares of land, comprising residential, commercial and industrial properties as well as institutions.

Mohamad Haslah said to date some 4,500 housing units had been delivered to buyers while 1,500 residential units were expected to be ready this year.

The company expects to build 10,000 housing units at the township to accommodate the needs and demand of the area, considering that the Royal Malaysian Air Force Complex is located there.

“The whole development at BSS is expected to be completed by 2022. Upon full completion, it will have 100,000 residents,” he said. – Bernama

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