Matrix Concepts Q1 New Property Sales Climb 9.2% to RM416.7 Million on MVV City Momentum — BigGo Finance

Matrix Concepts Holdings Bhd opened its 2027 financial year with a 9.2% jump in new property sales to RM416.7 million, as the developer’s flagship Sendayan township continued to anchor results while Malaysia Vision Valley City emerged as the next engine of expansion.

Group revenue for the first quarter ended June 30, 2026 rose 11% year-on-year to RM315.58 million from RM284.28 million a year earlier, according to a stock exchange filing. Net profit, however, slipped to RM60.19 million from RM62.94 million, reflecting the absence of a one-off RM6.1 million investment gain and planned marketing spending tied to upcoming launches.

Sendayan Developments in Negeri Sembilan remained the group’s core contributor, generating RM235.3 million in new sales and RM176.7 million in revenue. MVV City, positioned as the company’s next major growth catalyst, added RM96.8 million in sales and RM21.3 million in revenue during the quarter.

Levia Residences in the Klang Valley delivered RM37.4 million in sales and nearly doubled its quarterly revenue to RM52.7 million. Horizon developments along the Sepang and Banting growth corridors contributed RM15.2 million in sales and RM18.3 million in revenue, while Bandar Seri Impian in Johor posted RM32 million in sales and a 42.2% revenue increase to RM21.8 million.

The diversified segments of education, hospitality, healthcare, and the newly introduced building materials division contributed a combined RM19.6 million in quarterly revenue. In Australia, the completed M333 St Kilda Build-to-Rent asset recorded RM5.2 million in revenue and is projected to deliver steady profit contributions going forward.

Chairman Datuk Mohamad Haslah Mohamad Amin said the quarter reflected “the resilience and maturing scale of our expanded footprint,” with Sendayan Developments providing a “highly stable foundation.”

He added that accelerating momentum across Johor, the Klang Valley, and the industrial rollout at MVV City strategically positions the group “to capture high-value commercial investments.”

The board declared a first interim dividend of 1.4 sen per share, with an entitlement date of Sept 18, 2026, and payment scheduled for Oct 8, 2026.

Unbilled sales stood at RM1.5 billion as of June 30, 2026, giving the company earnings visibility over the next 15 to 18 months.

Mohamad Haslah struck a measured tone on the outlook, citing “reliable yields” from the Australian build-to-rent operations and domestic healthcare divisions as ballast for the established property segments. “We remain cautiously optimistic about our prospects for financial year 2027 and our ability to create robust, long-term value for our shareholders,” he said.

Key segment performance for the first quarter:

Note: Figures are for the first quarter ended June 30, 2026. The education, hospitality, healthcare, and building materials divisions contributed a combined RM19.6 million in revenue.

The results underscore Matrix Concepts’ strategy of reducing reliance on any single township while scaling newer projects. Sendayan Developments still accounts for more than half of new sales, but MVV City’s contribution of nearly RM100 million in sales during its early expansion phase signals meaningful diversification. The industrial component at MVV City is particularly significant, as commercial and industrial land sales typically carry higher margins than residential products and attract longer-term institutional buyers.

For investors, the modest decline in net profit is unlikely to dampen sentiment given the clear operational growth story. The RM1.5 billion unbilled sales book provides a concrete revenue pipeline, while the dividend declaration maintains the group’s track record of returning cash to shareholders. The Australian build-to-rent asset adds a recurring income stream that could help smooth earnings volatility across property cycles.