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Mah Sing’s CEO Leong Hoy Kum is on a roll

February 13, 2020 (Thu)  |  By Administrator  |  In Finance

As I rush towards my appointment with Tan Sri Leong Hoy Kum, I am very conscious of being late. Besides his reputation of being punctual, a quality that reportedly came from his time studying in Japan, he is the CEO of the country’s second largest property development company by annual sales–Mah Sing Group Bhd–after all.

As it turns out, he arrives slightly later than me, only because he was caught by the recent landslides in the city. When he arrives, he is brisk but personable and warm.

After wrapping up what must be one of shortest photo shoots I’ve experienced (as I said, he’s quick) he sits down to say, first of all, that he is very bullish about the market.

While many have been taking in the entire drama of the recent general elections, Leong has been on the move. “I’ve been very busy; you will see we are going to announce more and more land acquisitions over the coming months,” says Leong in his raspy voice and straightforward manner.

Despite the fact that last year saw the property market’s total number of transactions fall and value increase modestly by 4%, Mah Sing’s own sales performance increased by about 11% to RM2.5bil, he proudly states. “We actually beat the market.”

The elections are now also over, bringing with them the suspense that came with it, and KLSE has reacted with a jump for joy. While not all stocks consistently rose, Mah Sing’s has, and its current price at time of writing, RM2.80, is the highest achieved in the last year.

“With general elections finally out of the way, investors will likely refocus on the fundamentals of the property sector,” says a company report by CIMB Analyst which upgrades the sector from neutral to overweight (which in analyst-speak is of course positive, meaning that there is more fat to be gleaned from these stocks).

“We believe that the removal of election overhang and continuity of government would aid buying sentiment,” adds AmResearch’s May market strategy report. “Pre-sales momentum also would re-accelerate… Mah Sing is fast emerging as the entrepreneur-driven proxy to the robust property market.”

“I think after the general elections, most of the investors are coming back and playing catch up,” is Leong’s own take on things. “A lot of people, especially foreigners, were waiting for the results of the elections.”

At the same time, the company’s recent rights issue was oversubscribed, which provided the company more working capital for its projects and funds for the lands that Leong has been so busy shopping for.

As I rush towards my appointment with Tan Sri Leong Hoy Kum, I am very conscious of being late. Besides his reputation of being punctual, a quality that reportedly came from his time studying in Japan, he is the CEO of the country’s second largest property development company by annual sales–Mah Sing Group Bhd–after all.

As it turns out, he arrives slightly later than me, only because he was caught by the recent landslides in the city. When he arrives, he is brisk but personable and warm.

After wrapping up what must be one of shortest photo shoots I’ve experienced (as I said, he’s quick) he sits down to say, first of all, that he is very bullish about the market.

While many have been taking in the entire drama of the recent general elections, Leong has been on the move. “I’ve been very busy; you will see we are going to announce more and more land acquisitions over the coming months,” says Leong in his raspy voice and straightforward manner.

Despite the fact that last year saw the property market’s total number of transactions fall and value increase modestly by 4%, Mah Sing’s own sales performance increased by about 11% to RM2.5bil, he proudly states. “We actually beat the market.”

The elections are now also over, bringing with them the suspense that came with it, and KLSE has reacted with a jump for joy. While not all stocks consistently rose, Mah Sing’s has, and its current price at time of writing, RM2.80, is the highest achieved in the last year.

“With general elections finally out of the way, investors will likely refocus on the fundamentals of the property sector,” says a company report by CIMB Analyst which upgrades the sector from neutral to overweight (which in analyst-speak is of course positive, meaning that there is more fat to be gleaned from these stocks).

“We believe that the removal of election overhang and continuity of government would aid buying sentiment,” adds AmResearch’s May market strategy report. “Pre-sales momentum also would re-accelerate… Mah Sing is fast emerging as the entrepreneur-driven proxy to the robust property market.”

“I think after the general elections, most of the investors are coming back and playing catch up,” is Leong’s own take on things. “A lot of people, especially foreigners, were waiting for the results of the elections.”

At the same time, the company’s recent rights issue was oversubscribed, which provided the company more working capital for its projects and funds for the lands that Leong has been so busy shopping for.

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