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Thursday, June 19, 2014

Matrix declares one-for-two bonus issue


SEREMBAN: Property developer Matrix Concepts Holding Bhd, which posted a record net profit of RM151.6mil for the financial year ended Dec 31, 2013, has declared a one-for-two bonus issue that will entail the issuance of up to 152.88 million new ordinary shares.
“We consider this as very good returns for our shareholders. In fact, since our listing in May last year, we have been the only company that has been declaring dividends every quarter,” chairman Datuk Muhamad Haslah Mohamad Amin said after the company’s inaugural AGM.
He said the company also remained optimistic for the year ahead and had forecast a 10% growth.
As of Dec 31, Matrix Concepts group completed and sold 22,000 residential and commercial properties with a gross development value (GDV) of RM2.5bil.
It has since embarked on two flagship developments in Seremban and Johor with a combined GDV of approximately RM5bil.
Of the 2,093ha in its flagship Bandar Sri Sendayan project here, some 80% will comprise residential and commercial properties with the balance for the Sendayan Tech Valley (STV) industrial park.
“To date, we have delivered some 4,500 residential and commercial units and will complete between 1,300 and 1,500 more this year.
“We are also confident that these units will be snapped up in no time due to our affordable pricing and easy accessibility,” he said, adding that the company targeted about half its buyers to be from the Klang Valley.
He said as of March 31, Matrix Concepts’ unbilled sales amounted to RM440.8mil and these should be eventually recognised by 2016.
Muhamad Haslah said the company still had land bank totalling some 920ha in Sendayan which it expected to develop by 2022.
The STV, he said, had attracted some RM3bil in foreign direct investment and among the companies that had commenced operations there were Japan’s Hino Motors andAkashi-Kikai.

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