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Mah Sing Posts Higher Pre-tax Profit To RM371.50 Million
Its revenue also rose to RM2 billion from RM1.77 billion in 2012 while its basic earnings per share stood at 21.52 sen, the property developer said in a filing to Bursa Malaysia Friday.
In a separate note, Mah Sing said that it had achieved its internal target of RM3 billion sales last year due to increased number of projects targeted at the medium-range market.
"These offerings are in the right locations, coupled with good township and mixed development planning, concept and designs in line with market trend contributed to the strong sales," the group said.
The group also reported its unbilled sales position, advancing to about RM4.4 billion as at Dec 31, last year, 2.6 times the revenue recognised from the property division last year.
As for 2014 prospects, the group expects property buying interest to be especially strong in the second half of the year ahead of the goods and services tax implementation next year.
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