KUALA LUMPUR, April 25 — Property developer and community builder Matrix Concepts Holdings Berhad is looking forward to another solid financial year in 2023 (FY2023) following the easing of Covid-19 restrictions by the Malaysian government.
The group is confident in riding on its sustainable growth momentum since being listed on Bursa Malaysia in 2013.
After seeing a positive take-up rate particularly at its flagship Bandar Sri Sendayan in Seremban, the group is expecting new property sales to reach RM1.2 billion for FY2023.
As reported in its third quarter FY2022 report, the group has already achieved 83.2 per cent of its FY2022 new property sales target.
This is despite various challenges caused by Covid-19 restrictions which include restricted operating conditions and slower than expected domestic economic recovery.
According to the group’s chairman Datuk Mohamad Haslah Mohamad Amin, Matrix Concepts has shown resilience over the last couple of years of not only overcoming the Covid-19 pandemic but also managed to flourish during hard times.
“We must now move on from the pandemic and the group is ready to return to our sustainable growth trajectory.
“We will be expecting earnings contributions from our sold-out second Australian development, M. Greenvale, while our Indonesian venture is going well with the encouraging execution of Menara Syariah, which is slated for completion at the end of FY2023.
“These will supplement the robust and growing demand at our townships which we have been enjoying in recent years and allow us to be cautiously optimistic of another solid year at Matrix,” Mohamad Haslah said during the Group’s Metaraya Iftar with the media last week.
Bandar Sri Sendayan has been riding on the growing trend of Klang Valley folks shifting to Negri Sembilan due to the convenient road connectivity to various parts of Klang Valley.
With home prices in Klang Valley becoming increasingly out of reach for most, cheaper homeownership in Seremban offers an attractive alternative.
Meanwhile, internationally, the group is also looking at the completion of their Australian development, M. Greenvale which is expected to be ready in May while the group is also excited to launch their next Melbourne development called 333 St. Kilda mid-year.
Riding on St Kilda’s popularity as Melbourne’s favoured suburb, the AUUS$80 million (RM253 million) 12-storey mixed development is the group’s biggest Australian development to date.
In Indonesia, the group is developing a 29-storey twin tower of office space and retail podium named Menara Syariah via a joint venture with local counterparts.
The joint venture will also see the group launching more developments in the area of Pantai Indah Kapuk 2 in Jakarta where the RM1 billion Menara Syariah is currently being constructed.
“We are not keen on putting the blame on Covid-19, but we cannot discount its adverse impacts.
“We were forced to go on defensive mode due to the pandemic, but we are now anticipating an active FY2023 to put us on a strong growth footing for the next decade.
“We have illustrated our ambition for growth since listing and we believe, despite the many heights the group has achieved over the years, we have not reached our peak.
“We will be seeking opportunities for strategic collaboration to further strengthen our value proposition as well as securing quality land for developments in FY2023 as part of our growth strategy and to enhance shareholders’ value,” Mohamad Haslah said.
The Matrix Concept MetaRaya Iftar also saw the launch of the group’s MetaRaya music video in conjunction with Hari Raya featuring Malaysian actress and singer Janna Nick.
Taking on a different approach than the normal Hari Raya music video, the Matrix Concept MetaRaya video showcased a futuristic Hari Raya celebration with a virtual twist.
Speaking to Malay Mail, Janna said that she was impressed with the production team behind the futuristic concept as the video was completed in a short period of time.
“The concept is very futuristic, so it’s quite hard to imagine and it’s not like the usual projects I’ve done before.
“It’s very hard to imagine and I have to thank the director, the production team for making it happen in a very short period.
“I think we did our shoot a couple of weeks ago. To put in the CGI and graphics in the span of just two weeks is amazing!” she said.
Janna added that she recorded the song within three hours of being introduced to it due to her packed schedule during Ramadan.
“I was very tired at that time, but it doesn’t really show in the video.
“The reason for it is because of the production and marketing team who took good care of me, physically and mentally.
“They took care of me on and off set, I’m really happy to be part of the Matrix Concept project,” she said, adding that her favourite part of the video was the dance choreography.
The Matrix MetaRaya music video takes place in a futuristic Bandar Sri Sendayan which features Janna as a grandmother looking forward to celebrating Hari Raya with her grandchildren.
