KUALA LUMPUR (Jan 6): Mah Sing Group Bhd is targeting to achieve sales of RM2.3 billion for 2016, identical to that of 2015's target.

 "2016 will be a very exciting year for us. Despite the challenges, we are launching right product and right location, we expect the take up (rate) would be very high (for Mah Sing products)," the group's chief executive officer Ng Chai Yong told the media today, in conjunction with the launch of a customer reward campaign.

"The other thing is about lending, every where is difficult at lending today, but one thing good about Mah Sing is that we are tier one developer, so if all things being equal, we are in a more favourable position, compared to our peers or competitors, because the banks are more confident about us," he added.

Ng said that Mah Sing's direction in 2016 would still remain in building affordable products for the mass market, priced within RM500,000 range, supplemented by its existing high-end residential unit, industrial products, and retail mall.

On the group's landbank, Ng revealed that Mah Sing currently owns land size of 2,540 acres, scattered in Klang Valley (60%), Iskandar region (24%), Penang (10%), and Sabah (6%).

In terms of sales packages, Ng said the group will continue to ensure an easy entry for buyers; and one way is to bill their purchases only upon project completion.

"In that way, the buyer does not need to bear the interest incur[red] during the construction period, we will bear it instead, and they are only required to pay the 10% deposits," he said.

At the campaign launching today, Ng said Mah Sing is giving out cash rebates to purchases made during Jan 1 to Feb 28, 2016, for 13 of the group's projects.

Mah Sing has 46 projects currently, of which 11 are completed.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)