Mah Sing CEO sees strong property buying in 2H ahead of GST

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KUALA LUMPUR (June 27): Mah Sing Group Bhd’s Managing Director and CEO Tan Sri Leong Hoy Kum said the second half of the year would see stronger buying momentum in the property sector, ahead of the Goods and Services Tax (GST) implementation on April 1, 2015.

“We expect stronger buying momentum in the second half of the year, with potential buyers expected to buy ahead of the GST implementation next year,” Leong said in a statement after Mah Sing’s 22nd. AGM.

He said fundamentals that drive the property market were still strong, adding Mah Sing was selectively optimistic on certain segments.

“Our market research and consumer feedback tells us that the focus of this year is to ensure affordability in strategic location coupled with good concept,” he remarked.

According to Leong, this year, 87% of the group’s planned residential product launches are priced below RM1 million, while 81% are priced below RM700,000.

Earlier at the AGM, shareholders voted in favour of several resolutions payment of a first and final single-tier dividend of 8 sen per ordinary share.