M333 ST. KILDA (Australia) M333 St. Kilda was launched in FY2023. The project is an eight-storey mixed development situated on a 0.6-acre land in Melbourne. It is Matrix’s largest development in Australia to date in terms of GDV. Thus far, the AUD76.9 million (RM237.9 million) GDV project has been 25.6% sold as at 31 March 2023. The project is strategically located – just 8km from the city’s central business district (“CBD”) and benefits from excellent access to public transportation, road connectivity and is in close proximity to tourist attractions and various lifestyle attractions and amenities. MENARA SYARIAH (Indonesia) Located in the up-and-coming Islamic Finance District of Jakarta, with a GDV of RM1.0 billion, Menara Syariah represents Matrix’s venture into Jakarta, Indonesia via a joint venture partnership with an Indonesian conglomerate. Construction work on the project has picked up pace, post the removal of pandemic related restrictions in Indonesia. As at 31 March 2023, 92.7% of construction works has been completed with the project targeted for completion in FY2024. Menara Syariah will comprise a commercial and retail building with twin 29-storey office towers – featuring one million square feet of gross floor area including 23 floors of Grade A office space. It will also feature a retail strip, a landscaped observation deck, an infinity pool and multiple prayer halls. PROJECT UPDATES – OTHER BUSINESS UNITS MATRIX GLOBAL SCHOOLS (“MGS”) (Negeri Sembilan) As at 31 March 2023, MGS’s student population stood at 659 students, comprising 190 international school students, 357 private school students and 112 pre-school students: MANAGEMENT DISCUSSION & ANALYSIS Teaching has reverted to full, physical learning from an online and hybrid approach in FY2023. MGS continues to a beacon of education excellence – bringing international level curriculums to the Sendayan, Seremban and surrounding communities. It continues to set the bar for school level education in the area and in FY2023, has maintained its track record for educational achievement. MGS’ revenue for FY2023 had improved by 11.6% year-on-year to RM12.9 million (FY2022: RM11.6 million). FY2023 International school students Private school students Pre-school students FY2022 190 357 334 190 112 87 INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 51
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