Matrix Concepts lines up RM1.6b worth of launches in FY19

PETALING JAYA: Matrix Concepts Holdings Bhd aims to launch RM1.6 billion worth of new properties in the financial year ending March 31, 2019 (FY19) on the back of resilient demand from home buyers.
The property developer said in a statement today the target is 27.2% higher than the RM1. 2 billion worth of launches in FY18.
The new launches planned for FY19 are located mainly within its township developments namely, Bandar Sri Sendayan in Negri Sembilan and Bandar Seri Impian in Johor.
"We are positive on demand for homes in Bandar Sri Sendayan, especially with the growing number of Klang Valley buyers for our launches. This is attributed to the township's vast appeal in terms of affordability, pricing, and locality, which are highly important qualities to a successful development," said its chairman, Datuk Mohamad Haslah Mohamad Amin.
"Our optimism is also guided by the strong interest received for most of our recent launches, underpinning our confidence to a higher launch target for FY19," he said.
The group will also be launching its first high-rise serviced apartment in Kuala Lumpur, Chambers Kuala Lumpur, in the second half of 2018.
In FY18, Matrix Concepts achieved record revenue and net profit of RM818.5 million and RM213.3 million respectively, its best performance since listing in 2012.
As at March 31, 2018, the group had RM2.6 billion worth of ongoing developments, significantly higher from RM1.8 billion last year.
Unbilled sales climbed to RM1.1 billion as at March 31, 2018 from RM859.5 million previously, to be recognised until 2020.