CHAIRMAN’S STATEMENT With unbilled sales of RM1.28 billion and RM1.65 billion GDV in new projects to be launched in the financial year ahead, we are confident of remaining competitive and sustainable. The Group’s strategic move to acquire a 1,382-acre land parcel within the Malaysian Vision Valley corridor will be an exciting avenue for future growth, ensuring the sustainability of its property development arm beyond 2030. This acquisition not only positions the Group to cater to the thriving housing demand in Seremban but also captures the spillover effect from buyers seeking alternatives to the Klang Valley market. The close proximity of the new land with the anticipated revival of the High-Speed Railway (HSR) project in the region further augments its growth prospects. Furthermore, the Group’s focus on optimising construction efficiency is further reinforced by the successful recruitment of foreign labour to meet its workforce requirements at construction sites. This positions the Group to be cautiously optimistic of accelerating recovery of revenue recognition, backed by a proven track record in scaling up construction activities. HEARTFELT ACKNOWLEDGEMENTS I wish to express my heartfelt appreciation to our very capable Senior Management and high performing employees for their perseverance in enabling us to scale such heights of performance and for having the business agility to navigate around the many hurdles in our financial year’s journey. To our reassuring shareholders, loyal customers, supportive bankers, engaging government ministries and regulatory agencies and as well as our reliable suppliers and business partners, you have our deepest appreciation for your much valued partnership over FY2024. Finally, to my esteemed Board members, I wish to accord my profound gratitude for your keen business acumen and collaborative engagement in yet another successful and meaningful financial year for our Group. On this note, I would like to warmly welcome Kelvin Lee Chin Chuan, Non-Independent Non-Executive Director and Ms Vijayam A/P Nadarajah, Independent Non-Executive Director who joined us on 1 September 2023 and 19 June 2024 respectively. Both bring with them strong credentials and business acumen. This would undoubtedly augment the existing Board well and serve to strengthen the Group’s leadership. We, at Matrix, don’t just build homes for the present, but for generations to come, to live and enjoy their investment and achievements. We are committed to sustaining our positive performance momentum and deliver greater shareholder value while prioritising our role as a caring and communitycentric developer. DATO’ HAJI MOHAMAD HASLAH BIN MOHAMAD AMIN NON-INDEPENDENT NON-EXECUTIVE CHAIRMAN 30 June 2024 Impiana Square, Bandar Seri Impian Park THE GROUP’S STRATEGIC MOVE TO ACQUIRE A 1,382-ACRE LAND PARCEL WITHIN THE MALAYSIAN VISION VALLEY CORRIDOR WILL BE AN EXCITING AVENUE FOR FUTURE GROWTH, ENSURING THE SUSTAINABILITY OF ITS PROPERTY DEVELOPMENT BEYOND 2030. KEY MESSAGES 35 INTEGRATED ANNUAL REPORT 2024
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