PETALING JAYA: Property developer Mah Sing Group Bhd posted a net profit of RM72.47 million for the second quarter ended June 30, 2026 (Q2’26), a 9.77% increase from RM66.01 million posted in Q2’25.
The group achieved revenue of RM656.3 million and profit before tax (PBT) of RM99.6 million, up 16% and 4.2%, respectively, from the corresponding quarter last year.
Notably, Mah Sing recorded strong property sales of RM1.32 billion for the first half of 2026, up 15% from RM1.15 billion in 2025.
The strong sales performance puts Mah Sing on track to meet its full-year property sales target of RM2.76 billion, supported by sustained demand for well-located, attainable homes, ongoing sales from existing projects, and upcoming launches planned for the remainder of 2026.
For the six months of FY26 (6M’26) , the group recorded revenue of RM1.22 billion and PBT of RM192.7 million, up 0.3% and 3% YoY, respectively.
Net profit edged up 6.43% to RM140.54 million from RM132.05 million posted in 6M’25.
The strong performance was supported by continued contributions from property sales.
Mah Sing had cash and bank balances of RM1.01 billion and a net gearing ratio of 0.39x as of June 30.
Together with expected funds from upcoming project completions and disposal proceeds from Mah Sing DC Hub @ Southville City, the group remains well-positioned to fund ongoing developments, replenish its landbank, and pursue strategic opportunities in high-growth locations while maintaining prudent capital management.
Group CEO and executive director Datuk Voon Tin Yow said that, backed by a healthy balance sheet and strong operational performance, the group remains focused on replenishing its landbank with strategically located opportunities that can support sustainable growth.
“M Araya is aligned with our M Series strategy, offering well-designed and attainable homes in an established location.
“We will continue to evaluate suitable opportunities while maintaining disciplined capital allocation,” he said.
Recently, Mah Sing acquired about 14.3775 acres of land in Ampang for M Araya, an M Series serviced apartment development with an estimated gross development value (GDV) of RM1.92 billion.
Indicative built-up areas range from 700 sq ft to 1,000 sq ft, with indicative pricing starting from RM399,000.
Registration of interest is expected to commence in first quarter 2027, with the development targeted for launch by 2027.
For the first half of FY26 (H1’26), the property development segment recorded revenue of RM990.8 million and operating profit of RM212.9 million, up 2.8% and 0.7%, respectively, from the same period last year.
The improvement was mainly attributable to higher sales and higher progress billings from the group’s ongoing development projects.
Meanwhile, the manufacturing segment for H1’26 recorded an operating profit of RM9.7 million compared with an operating loss of RM5.2 million in the same period last year, an improvement of RM14.9 million and marking its first return to profitability since FY20.
The turnaround was mainly driven by improved plant utilisation in the glove business and higher average selling prices following pricing adjustments to reflect increased raw material costs.
The segment also benefited from cost optimisation initiatives following the disposal of the automotive parts business.
Mah Sing recently announced the disposal of about 78.8 acres of commercial land within Mah Sing DC Hub @ Southville City to WG Malaysia X Sdn Bhd, a wholly owned subsidiary of an established international digital infrastructure group, for RM617.9 million, equivalent to a landmark RM180 psf.
The transaction unlocks value from the group’s development-ready landbank and provides capital for reinvestment into higher-value opportunities, while validating Mah Sing DC Hub @ Southville City as a destination for large-scale digital infrastructure investment.
Located within the group’s 428-acre freehold Southville City township, Mah Sing DC Hub @ Southville City offers access to power and water infrastructure, high-speed fibre connectivity and excellent accessibility.
While still at a preliminary stage and subject to further assessment, the development provides a potential pathway towards recurring-income digital infrastructure assets.
