Matrix Concepts posts RM315.6 million revenue in Q1

Matrix Concepts Holdings Berhad began its fiscal year 2027 with a robust performance, seeing its first-quarter revenue climb 11% to RM315.6 million. This growth outpaced the RM284.3 million recorded in the same period last year. The company's property sales also saw a healthy increase of 9.2%, reaching RM416.7 million, bolstered by the launch of new projects valued at RM586.4 million during the quarter.

Despite the revenue surge, the group's profit after tax and minority interests (PATAMI) experienced a slight dip to RM60.2 million from RM62.9 million a year prior. This reduction was primarily attributed to the absence of a one-off investment gain of RM6.1 million and increased marketing expenses for new developments. The property development segment remained the largest contributor, accounting for RM296 million, or 93.8%, of the group's total revenue.

Within Negeri Sembilan, the Sendayan Developments project continued to drive performance, generating RM235.3 million in new sales and RM176.7 million in revenue. Meanwhile, the Malaysia Vision Valley (MVV) City emerged as a new growth catalyst, recording RM96.8 million in sales and RM21.3 million in revenue. The group views MVV City, a 2,382-acre integrated master plan, as a key to expanding its income base, leveraging its strategic location near Kuala Lumpur and Kuala Lumpur International Airport.

Matrix Concepts Holdings Berhad Chairman Datuk Mohamad Haslah Mohamad Amin highlighted that the first-quarter results reflect the group's resilience and expanding operational scale. He noted Sendayan Developments as the stable core of their portfolio, now complemented by growing momentum in Johor, the Klang Valley, and industrial development at MVV City. This diversified strategy, implemented over several years, is proving successful. The group is now poised for its next growth phase through targeted expansion and upcoming property development pipelines. A key objective is to increase revenue contribution from outside Negeri Sembilan to over 30%, diversifying income streams and strengthening long-term growth prospects.