{
  "id": 16807029,
  "title": "Matrix Concepts plans expansion with RM169.3m Kulai land buy",
  "url": "https://urgent.news/2026/10/27/matrix-concepts-plans-expansion-with-rm169-3m-kulai-land-buy",
  "topic": "world",
  "section": "World",
  "published": "2026-10-27T22:01:05.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1565028/matrix-concepts-plans-expansion-rm1693m-kulai-land-buy"
  },
  "original_language": "en",
  "account": "Matrix Concepts Holdings Bhd has expressed its intention to acquire 57 parcels of freehold land in Kulai, Johor, totalling 174.8 hectares for RM169.3 million. The company announced that this purchase is a strategic move to diversify its revenue sources, building upon its successful developments in Negri Sembilan, the Klang Valley, and Kluang in Johor. Matrix Concepts Chairman Datuk Mohamad Haslah Mohamad Amin stated that the upcoming phase of the company's expansion is aimed at improving the quality and scope of its growth. Over the past two years, the organisation has been establishing a solid foundation for geographical diversification, and the Kulai acquisition represents a significant step towards this objective. The proposed Kulai acquisition is crucial in the company's strategy to enter high-potential markets that can enhance the sustainability of its earnings over time. The acquisition provides Matrix Concepts with a strong entry point into the Kulai-Sedenak region, adding a substantial land bank in an area experiencing increasing industrial activity. According to the company's feasibility assessment, the proposed mixed development is expected to generate a gross development value of RM2.1 billion. This acquisition will expand Matrix Concepts' existing and future gross development value in Johor to approximately RM4 billion. Johor is set to play a crucial role in Matrix Concepts' future growth phase. Since 2006, the company's ongoing BSI township has produced over RM1.6 billion in cumulative sales for residential and commercial projects. Haslah emphasized that the company has developed the capability to participate meaningfully in Johor's evolving opportunities, allowing it to scale its presence with increased confidence. The proposed Kulai acquisition is a natural progression of this strategy, reinforcing the quality and resilience of the company's earnings.",
  "summary": "Your browser does not support the audio element.",
  "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."
}