CHAIRMAN’S STATEMENT TO OUR ESTEEMED SHAREHOLDERS, On behalf of the Board of Directors of Matrix Concepts Holdings Berhad (“Matrix” or “The Group”), I am pleased to present the annual report and audited financial statements for the financial year ended 31 March 2023 (“FY2023”). ECONOMIC RECOVERY GAINING MOMENTUM FY2023 presented itself as a year of transition. At the global front was the prevailing safety concerns of COVID-19, China’s move to end its stringent pandemic lockdown, the ongoing Russia-Ukraine conflict and increased material pricing, all of which merged to provide a global backdrop of economic uncertainty. Within Malaysia, following a tumultuous two years of living under the blanket of COVID-19, the nation is emerging, transitioning to an endemic phase and this has essentially changed the way we now conduct business. The nation’s political stability has strengthened following the general elections in 2022 and this has triggered expectancy of improved governance and policies, leading to economic growth. The opening up of economic sectors had brought a positive impact on the property and construction industry, among others. On the onset of FY2023, the number of property transactions rose by 17.2% year-on-year to register 188,002 transactions. This was valued at RM42.0 billion, representing a 16.3% increase year-on-year. By the year end of 2022, the total number of transactions recorded was 389,107, representing a 29.5% growth year-onyear. This amounted to a total value of RM179.10 billion, a 23.6% rise year-on-year. The continued recovery seen in the property industry is however not free from challenges. The ongoing increase in costs of raw materials used in construction such as steel and cement continue to impede industry growth. This is further compounded by the disruption to domestic and international supply chains, impacting adversely the supply and demand of various material, thus driving up prices significantly. DATO’ HAJI MOHAMAD HASLAH BIN MOHAMAD AMIN Non-Independent Non-Executive Chairman INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 28 KEY MESSAGES
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