Tuesday, May 12, 2015

'Like' - Matrix (Sri Sendayan Near 3rd HSR Station) !!!

It expects the recurring income from its d’Tempat Country Club and the Matrix Global Schools to contribute up to 10% of its bottom line in the next three to five years from April 2015.

The two properties, which have started operation in 2015 should already be breaking even by 2016.

It expects the company’s property projects in Bandar Sri Sendayan (BSS) here to flourish into a town centre similar to that of 1 Utama upon completion in seven to eight years. The town centre named Sendayan Icon Park is expected to mirror development in 1 Utama.

According to plan, it is worth that 3rd HSR station to be situated within the Labu and Kirby estates in Seremban ... Bandar Sri Sendayan is next to the Labu and Kirby.

The medical facility — which will be built in BSS — will be retained by the company to generate recurring income.

The company also dismissed concerns about the company being unable to maintain its high dividend payout ratio of 40% of its profits, a payout policy it instituted since its initial public offering in 2013.

Matrix Concepts’ approach in diversifying into recurring income assets will set the company apart from its peers amid the cooling property market.

It had proposed to acquire a 5.8-acre land cum approved residential development project in Puchong, Selangor, for RM95 million. Forty per cent of the cost will be settled using internal funds while the remainder will be bank borrowings.

Matrix Concepts’ net cash stood at RM96.94 million on Dec 31, 2014

In FY14, its net profit rose 20% to RM182.61 million from RM151.56 million in FY13.

Vendor IRDK Ventures Sdn Bhd has started preliminary earthworks and piling works for 318 high-rise condominium units and 28 four-storey link villas on the plot of land, which is located beside SetiaWalk.

Matrix Concepts wants to increase the density of the project to up its gross development value to more than RM500 million.

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