LOOKING AHEAD Matrix is set to continue to refine its strategies in response to the improving but highly challenging and volatile operating environment. As mentioned previously, the market remains impacted by rising material prices, geopolitical conflict and a labour supply crunch. Cumulatively, these led to inflationary pressures and rising construction and operational costs. However, with unbilled sales of RM1.44 billion and RM1.73 billion GDV in new projects to be launched in the financial year ahead, we are confident of remaining competitive within the property segment we are operating in. According to the National Property Information Centre (“NAPIC”), the overall activity of the real estate market would continue to be positive due to the higher volume record, which increased 34.1% to 357,000 units from January to November 2022, from 266,000 units during the same period in 2021. Similar sentiments are echoed by the Malaysian Institute of Estate Agents (MIEA), stating that the Malaysian property market is expected to improve in 2023 as long as the fundamentals and government’s support through incentives are in check. The National Budget 2023 presents itself a neutral budget for property and housing and not much different for real estate and property development compared with the previous year’s budget. However, it focuses on economic initiatives that are expected to provide a multiplier effect to increase the people’s incomes and this could lead to higher capacity for home ownership for potential buyers. Additionally, the 2% reduction in the personal income tax rate for the majority of taxpayers will increase the cash flow in hand, easing the financial burden on individuals and allowing them to make long-term plans such as property purchases. The prevailing policies, continuous government support and the proper implementation of strategies and initiatives outlined under the 12th Malaysia Plan is expected to augment continued growth in the property sector. This would ultimately lead to increased shareholder reward via higher dividend payout, taking into account our strong cashflow, healthy growth prospects and sustained revenue base and profitability. The Group will maintain its forward-looking strategy to capitalise and build upon the revitalising economy. We will not lose sight of our focus on driving operational efficiency and maintaining prudent financial management, nor our community developer philosophy of reaching out to the marginalised community via our CSR initiatives. Above all, we remain absolutely focused on our efforts to capitalise on opportunities in support of nation building. Our learnings from the past two years managing the pandemic has fortified us with a deeper understanding of our capability and capacity to withstand challenges in the business environment. Having a resolute will to adapt with business agility, our level of preparedness will be instrumental in accelerating forward along with the strengthening economy. CHAIRMAN’S STATEMENT Resort Villa at Bandar Sri Sendayan INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 36 KEY MESSAGES
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