{
  "id": 16458892,
  "title": "Mah Sing targets 30pct recurring revenue in strategic business shift",
  "url": "https://urgent.news/2026/10/25/mah-sing-targets-30pct-recurring-revenue-in-strategic-business-shift",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-25T09:40:06.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/property/2026/10/1563244/mah-sing-targets-30pct-recurring-revenue-strategic-business-shift"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Mah Sing Group Bhd is targeting a 30% portion of its total income from recurring revenue within the next five years, as it broadens its income sources beyond property sales and ventures into industrial and data centre ventures. This pivot towards a more diversified revenue model aims to lessen dependence on property sales while establishing a more robust income foundation from leasing commercial properties, estates, and retail spaces. Mah Sing's founder and group managing director, Tan Sri Leong Hoy Kum, emphasized that while this revenue stream currently makes up a modest percentage of the group's earnings, it will become increasingly vital to their long-term growth strategy. This recurring-income ambition is part of the company's overarching growth plans, though achieving the 30% target will hinge on expanding its income-generating portfolio and transforming opportunities into dependable revenue. Currently, the company's main focus is on business expansion and enhancing performance, with recurring income, industrial developments, and land monetization seen as potential avenues to bolster its earnings base. Mah Sing is also investigating land sales to data center operators and hyperscalers in Johor, capitalizing on the increasing need for digital infrastructure. The company's industrial property push includes MS Industrial Park @ Kulai, a RM2.2 billion joint venture with KLK Land Sdn Bhd, located on 419.17 acres of freehold land in Zone E of the Johor-Singapore Special Economic Zone (JS-SEZ). Mah Sing holds a 60% stake in the project, while KLK Land, a wholly-owned subsidiary of Kuala Lumpur Kepong Bhd, holds the remaining 40%. Since entering Johor in 2000, the group has continued to expand its footprint through residential and industrial projects, with Leong highlighting their experience in developing five industrial parks across the Greater Klang Valley and Johor as a strong foundation for their upcoming sixth industrial development, MS Industrial Park @ Kulai. They see significant potential in Kulai, driven by the JS-SEZ, its proximity to Singapore, improving infrastructure, and the ongoing growth of high-value industries in Johor. In addition to industrial developments, Mah Sing plans to introduce higher-end residential products next year while maintaining their focus on homes within their established price range. Further development announcements are expected next year. Leong reiterated that the company's immediate priority remains business growth and performance enhancement across its property segments. Mah Sing aims to achieve property sales of RM2.76 billion this year, following an eight percent increase in net profit for the financial year ended December 31, 2025 (FY2025). Net profit grew to RM260 million from RM239.1 million the previous year, thanks to the completion of construction costs for projects nearing completion.",
  "summary": "KUALA LUMPUR: Mah Sing Group Bhd aims to derive 30 per cent of its group revenue from recurring income within the next five years as it diversifies its earnings base beyond property sales and expands its industrial and data centre-related opportunities.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}