Matrix Concepts Holdings Bhd has demonstrated remarkable resilience in Malaysia’s competitive property sector, posting record-breaking financial results despite global economic uncertainties. The Negeri Sembilan-based developer reported a 20.8% year-on-year revenue surge to RM1.334 billion for FY2024, alongside a 17.9% increase in profit after tax, reaching RM244.3 million. These figures underscore the company’s ability to maintain an industry-leading net margin of 18.4%, supported by strong property sales of RM1.3 billion and consistent launch take-up rates exceeding 80%.
A key driver behind this success has been the company’s strategic diversification into healthcare, particularly through its revitalization of Mawar Medical Centre. After stepping in to rescue the facility following licensing issues and specialist resignations, Matrix Concepts saw the medical center contribute RM2.2 million in net profit during FY2023. This move not only stabilized revenue streams but also positioned the company for broader expansion. Co-CEO Tan Sze Chee emphasized that the group is now ready to pursue more aggressive growth, leveraging its strengthened financial position post-pandemic.
Current projects reflect this ambitious outlook. In Negeri Sembilan, developments like Bayu Sutera and Eka Heights continue to perform strongly, with RM533.9 million in new sales recorded in 2QFY2025. Meanwhile, the Klang Valley’s Levia Residence has already achieved an 85% sales rate for its first tower, prompting an accelerated launch for the second phase. Internationally, the company’s M333 St Kilda project in Australia is nearing completion, while Menara Syariah in Indonesia is finalizing leasing agreements. Looking ahead, Matrix Concepts plans to roll out new phases in Negeri Sembilan and a RM700 million serviced apartment project in Puchong, further solidifying its market presence.
The company’s most ambitious venture yet is the Malaysia Vision Valley 2.0 (MVV 2.0), a 2,400-acre development with a projected GDV of RM12 billion. Designed as a sustainable urban hub, the project aims to replicate the success of Bandar Sri Sendayan while incorporating green technology and smart infrastructure. With a land bank of 3,347 acres in Malaysia and additional holdings in Indonesia and Australia, Matrix Concepts is well-positioned for long-term growth. Tan highlighted the company’s commitment to innovation, stating, “Our vision is to set new benchmarks in urban living by integrating sustainability and smart solutions into every development.”