Homes in KL South, anybody?

From Star Online: Business
14th Dec 2013

Transit home.

That’s one way to view acquiring real estate at the fringe of the Klang Valley or neighbouring suburbs, if you are native to the capital city.

In this case, it’s Southville City in Bangi, Mah Sing Properties Sdn Bhd’s most expansive township yet. Mah Sing Properties is a subsidiary of Mah Sing Group Bhd.

According to Mah Sing Properties Sdn Bhd township residential chief operating officer James A. Bruyns, many buyers are keen on a transit home for the work week.

“We have buyers who live with their families in Seremban and work in Kuala Lumpur. Having this property to go home to would alleviate their travelling. They can put up during the week and return to their families in the weekend,” he tellsStarBizWeek.

MAHSING - Personal technical analysis 7/10/13

Personal Technical Analysis
7th Oct 2013

Violated and hold above 100SMA for the second day - Bull
Above all 50,100 and 200 SMA - Bull
MACD above both signal and center lines - Bull
Slow STO at overbought area - Bear
RSI level shows slight overbought - Bear

Immediate resistance: RM2.515
Second resistance: RM2.79
Immediate support: RM2.38
Second support: RM2.35

My TP: Not rated (From RM2.50)

Risk: Introduction of RPGT in Budget 2014 on Oct 25th 2013.

Mah Sing acquires land in JB

From Business Times
1st Oct 2013

Mah Sing Group Bhd acquired 31 pieces of adjoining freehold land with net land area measuring 1,351.84 acres in Johor Baru for RM429.86 million or RM7.30 per sq ft.

Mah Sing said its wholly-owned subsidiary, Sanjung Tropika Development Sdn Bhd, has signed a conditional sales and purchase agreement with Bistari Land Sdn Bhd for the proposed acquisition.

The propperty developer said it intends to fund the proposed acquisition through a combination of internally generated funds, rights issue with warrants and/or bank borrowings.

Resistance: RM2.35
Support: RM2.17
My TP: RM2.50

Maybank KE Research reiterates Buy on Mah Sing

From Star Online: Business
30th Sep 2013

KUALA LUMPUR: Maybank KE Research has had its attention drawn to Mah Sing Group Bhd, following the launch of phase one of the company’s Southville City project in Bangi on Saturday which attracted around 2,500 potential buyers and resulted in 1,068 units (70%) booked.

It is maintaining its Buy call with the target price unchanged at RM2.50 for the stock, which closed last week at RM2.20.

Overbuilding of mega projects could affect sectors

From The Edge Malaysia
12th Sep 2013

KUALA LUMPUR: The overbuilding of mega projects, such as the Tun Razak Exchange, the RM5 billion Warisan Merdeka Tower and the Rubber Research Institute land development in Sungai Buloh, could negatively affect the banking, property and real estate investment trust (REIT) sectors.

CIMB Research, in a recent note, said without the solid backing of fundamental demand, the overbuilding of commercial real estate could result in painful long-term issues.

“Should the project be part-funded by government-guaranteed bonds and fail, the losses would hit the government’s balance sheet and exert further pressure on the overall public debt,” said the research house.

In addition, there will be an oversupply of office space, leading to depressed rentals and yields as well as wastage of strategic land resources. The research house is also concerned that the financial sector might see its non-performing loans ratio rise as borrowers default on their loans.

Mah Sing has the eye for big deals

From Star Online: Business
2nd Feb 2013

MAH Sing Group Bhd group managing director Tan Sri Leong Hoy Kum has just come back from a four-day retreat in Koh Samui. He's looking dapper and his eyes are gleaming with energy.

He apologises for being unable to take us out for lunch as he wants to continue fasting for the remaining week. His holiday wasn't a typical food feast dotted with long periods of winding down.

“I lost 2 kgs! See how loose my pants are,” says Leong as he shows how his pants now hangs copiously on his new slimmer waistline.

For Leong, being healthy is just as important as realising his vision of making Mah Sing the next Cheung Kong Holdings of Malaysia. Cheung Kong belongs to Hong Kong tycoon Li Ka-shing and is one of the largest property developers in Hong Kong.

As it is, Mah Sing currently has 40 projects and is Malaysia's second-largest developer by sales value.

UBS positive on property stocks this year

By Star Online: Business

18th Jan 2013

PETALING JAYA: Residential property stocks which underperformed in 2012 will do better this year and among them the best is Mah Sing Bhd, a report by UBS Investment Research said.

It said the Mah Sing was ‘entrepreneurially managed with ambitious plans to grow within Malaysia”.

UBS stated that while 2013 should remain challenging, the company will deliver circa 20% sales and earnings growth based on its diversified range of products.

“Our new price target for Mah Sing’s stock is RM2.80 based on a 30% discount in realisable net asset value (RNAV) of RM3.99 and the company has a dividend policy of paying a minimum 40% of net profit resulting in a forecast yield of 6.2% for 2013,” it said.

Mah Sing targets to become proxy leader

By Star Online: Business
25 Aug 2012

MAH Sing Group Bhd managing director Tan Sri Leong Hoy Kum has big ambitions, and he's ready to articulate his aspiration for all who want to hear.

First of all, he has a vision of making Mah Sing the next Cheung Kong Holdings of Malaysia. For the uninitiated, Cheung Kong belongs to Hong Kong tycoon Li Ka-shing, and is one of the largest property developers in Hong Kong.