Matrix Concepts Q3 Pre-Tax Profit Increases To RM58.45 Million
Date：2014/11/18
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KUALA LUMPUR -- Matrix Concepts Holdings Bhd's pre-tax profit for the third quarter ended Sept 30, 2014 rose to RM58.45 million from RM48.74 million in the same quarter last year.
Revenue increased to RM148.82 million from RM127.42 million previously, among others spurred by steady billings in tandem with construction progress.
The property developer launched two projects in the third quarter with total gross development value of (GDV) of RM145.5 million.
The projects comprised landed residential properties at Bandar Sri Sendayan in Seremban (Negeri Sembilan) and Taman Seri Impian in Kluang (Johor).
With the new launches, the total projects launched to-date for 2014 amounted to GDV of RM559 million.
Its chairman, Datuk Mohamad Haslah Mohamad Amin, said the new launches received encouraging response with take-ups of over 30 per cent within weeks.
"As a matter of fact, all our new launches in 2014 have achieved more than 70 per cent take-up rate," he said in a statement Monday.
The new sales demonstrated the resilient demand for affordable landed properties and the company's reputation as leading property developer, he said.
"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," he said.
As at end-September 2014, the group's ongoing developments totalled RM1.1 billion across Negeri Sembilan and Johor.
Unbilled sales amounted to RM410.5 million, which will eventually be recognised till 2016.
Matrix Concepts declared its third interim single-tier dividend of 3.75 sen per ordinary share in respect of financial year 2014.
The dividend will be paid on Jan 15, 2015, based on the record of depositors on Dec 24, 2014.
The group's total dividend payout amounts to about RM49.5 million for the financial year, representing 39.2 per cent of group net profit attributable to shareholders.
Mohamad Haslah said the group remained optimistic on prospects of the Seremban property sector given the long-term growth catalysts in place and its close proximity to the Greater Klang Valley.
"In this respect, our industrial park -- Sendayan TechValley (STV) -- is rapidly establishing itself as the new growth engine of Seremban economy," he said.
Matrix Concepts is also encouraged by Perusahaan Otomobil Kedua Sdn Bhd's and and Daihatsu Motor Co of Japan's decisions to invest RM600 million and build their engine manufacturing plant in STV, signifying the high confidence in what STV has to offer to global manufacturers.
To date, Mohamad Haslah said, STV has attracted over RM4.4 billion in foreign direct investments and numerous multinational corporations.
"With the continued developments in Bandar Sri Sendayan, it is certain that the township is turning into a vibrant urban hub in Seremban," he said.