Mah Sing Group Bhd (RM2.26/share) - On lookout for land in prime areas

Mah Sing Group Bhd is on a buying spree to acquire land banks that can generate a gross development value (GDV) of RM5bil this year. Its group managing director and group chief executive, Tan Sri Leong Hoy Kum, said the company has acquired land with a total GDV of RM3.6bil so far and is on the lookout for land banks that can give it a yield of at least RM1bil. He said the company would redesign its housing concepts to include more townships that have plenty of affordable homes.

He said so far, Mah Sing had purchased three pieces of land this year in Rawang (RM41mil), Sabah (RM80.5mil) and soon, a parcel of land in Bangi for RM333.3mil He added that the company is looking at building homes that will be priced below RM1mil. – Business Times