KUALA LUMPUR, Malaysia, April 14, 2017 /PRNewswire/ -- Mah Sing Group Berhad (Mah Sing) celebrated another achievement as it clinched the 2017 Frost & Sullivan Property Development Company of the Year at an award banquet held at the Hilton KL yesterday.
The award recognised Mah Sing as a company that demonstrated excellence in growth, innovation and leadership which was typically translated into superior performance in 3 key areas; demand generation, brand development and competitive positioning.
As one of the established property developers in Malaysia, Mah Sing was also evaluated based on the Group's financial performance, innovation, brand equity, customer ownership experience and customer service experience, in which it had excelled in all criteria.
Mr. Viswesh Vancheeshwar, Research Analyst, Energy & Environment, Frost & Sullivan said that in a challenging property market environment in 2016, Mah Sing was able to differentiate itself by launching innovative designed projects in strategic locations, while keeping properties affordable and attractive.
He noted that the property development market in Malaysia is highly competitive and developers which offer innovative solutions that are sustainable, reasonably priced and meets customers' expectations are best positioned to lead the market.
He further added, "Mah Sing has a proven track record of developing and completing prime residential, commercial and industrial projects across Malaysia's property hotspots. The Group was able to successfully deliver quality homes for customers and has a strong commitment towards encouraging home ownership in Malaysia. Despite a challenging 2016, Mah Sing's operating profit grew 2.6% to RM469.9 million. The Group also achieved a return on equity of 14% on average over the past 5 years as compared to the industry average of 9% to 10%."
Group Managing Director of Mah Sing, Tan Sri Dato' Sri Leong Hoy Kum said, "We are honoured to accept this award from Frost & Sullivan. The world is constantly changing and as a market-driven developer, it is our trade to stay ahead of the market. This mindset is the drive that pushes us to continuously work towards bringing the company to another level of success."
He further added, "As Jack Ma said, transformation is needed for a company to grow and I strongly agree with that statement. In fact, we have embarked on a Cultural Transformation programme and unveiled our new company vision; "Inventing Future Living That Enhances Quality of Life" early this year."
The Group unveiled its new corporate logo during its annual dinner celebration in February this year. The new corporate logo is the visual representation of the company's commitment towards transformation. The new corporate logo can also be seen at the façade of Mah Sing's headquarters, also known as MS@Work.
Mah Sing's transformation process continues with the introduction of the Group's new tagline "Reinvent Spaces. Enhance Life". 'Reinvent Spaces' means that the Group aims to raise the bar of future living by recreating living spaces, work spaces, business spaces, social and community spaces with innovative design and functionality.
With all the effort put in to reinvent spaces, the Group will be able to improve and add value to the standard of living of the community, hence fulfilling the second part of its tagline 'Enhance Life'.
Tan Sri Dato' Sri Leong said, "Being in the property industry for more than 23 years, we underwent various economy cycles from the economy crisis to the property boom. Our strong track record and healthy balance sheet with high cash pile of RM923.8million and a low net gearing of 0.02 times as of 31 December 2016, enables us to look out for potential land acquisitions, joint ventures and investments. We will continue to adhere to disciplined financial management as well as launching suitable projects that cater to market demands."
The company currently has 46 upcoming projects ranging from landed and high-rise residential, commercial developments, integrated business parks, mixed commercial developments in the Klang Valley, Johor, Penang, and Sabah.
Upcoming projects by the Group include Tower C and D of Cerrado Residential suites in Southville City, KL South, OLO Residence in D'sara Sentral, 2 types of 2-storey link homes in Meridin East, Johor and serviced apartments in Southbay City, Penang.
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About Mah Sing
Mah Sing Group was listed on the Main Market of Bursa Malaysia in 1992 and ventured into property development in 1994. The Group currently has 46 projects (13 completed) spread across the property hotspots of Greater KL and Klang Valley, Penang, Johor and Sabah. The Group has proven its versatility with a diverse range of projects, from medium to high-end landed and high-rise residential properties to Grade A office buildings, retail projects, SoHo and industrial projects.
Mah Sing Group was voted Best Developer of the year in iProperty People's Choice Award 2016 for 3 years consecutively, ranked Top 5 in The Edge's Top Property Developers Awards 2016 and honoured with The Starproperty.my's The All-Star Award as one of the Top Ranked Developer of The Year 2017, for diligently crafting dream homes for 23 years. For more information, please visit www.mahsing.com.my
Corporate Communications, Asia-Pacific
Frost & Sullivan
Mah Sing Group Berhad
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SOURCE Frost & Sullivan