management discussion and analysis GEARING RATIO As at 31 March 2025, the Group’s total borrowings was recorded at RM541.9 million, represenঞng an increase of 272.8% compared to RM145.4 million in FY2024. This was largely aributable to cater to the land acquisiঞon of the Group’s upcoming MVV City development. As of 31 March 2024, our proacঞve debt management has placed the Group in a healthy net gearing posiঞon of 0.16 ঞmes. This robust financial fooঞng demonstrates our commitment to a prudent approach that supports the successful execuঞon of our value creaঞon strategies. CASH FLOW, CASH AND BANK BALANCES Matrix employs a disciplined and strategic approach to cash management, ensuring adequate liquidity to cater to ongoing working capital demands while maintaining financial flexibility. This approach is underpinned by consistent revenue generaঞon from its core property development operaঞons and a robust pipeline in unbilled sales, which provides sustained cash flow visibility. In FY2025, given the challenging environment, the Group registered cash and cash equivalents decrease of 63.5% year-on-year to RM119.9 million. Nonetheless, with a posiঞve net cash posiঞon, Matrix conঞnues to be well-posiঞoned to navigate market dynamics, fund strategic iniঞaঞves, and capitalise on growth opportuniঞes. The combinaঞon of steady revenue streams from acঞve developments and the security of unbilled sales underscores the Group’s ability to balance liquidity, operaঞonal agility, and long-term financial stability. Financial Indicators FY2025 (RM’000) FY2024 (RM’000) DIFFERENCE (%) Net cash (used in)/generated from operaঞng acঞviঞes (464,246) 332,131 (239.8) Net cash generated from invesঞng acঞviঞes 14,953 6,537 128.7 Net cash generated from/(used in) financing acঞviঞes 242,900 (220,135) 210.3 Net changes in cash and cash equivalents (206,393) 118,533 (274.1) Effects of foreign exchange translaঞon (1,971) 9,624 (120.5) Cash and cash equivalents at the beginning of the year 328,285 200,128 64.0 Cash and cash equivalents at the end of the year 119,921 328,285 (63.5) CORPORATE EXERCISES The Group rewarded shareholders through a one-for-two bonus share issue completed on 26 February 2025, involving the distribuঞon of 625.7 million new shares, increasing the total issued share capital from 1,251.3 million shares to 1,877.0 million shares. The Group’s focus on operaঞonal efficiency and the expanding contribuঞons from its diversified business segments have strengthened its financial posiঞon. This has enabled the Group to generate robust earnings and reward shareholders with consistent dividends. LANDBANK As at 31 March 2025, Matrix’s landbank totalled 3,170.8 acres, with a GDV of RM14.9 billion. The porolio is anchored by its Sendayan Developments and BSI townships, complemented by strategically located parcels across the Klang Valley. Notably, the pending acquisiঞon of a 1,382-acre site under the MVV 2.0 iniঞaঞve remains excluded pending transacঞon compleঞon. LANDBANK 3,171 ACRES INCREASE 43.5% 40 MATRIX CONCEPTS HOLDINGS BERHAD INTEGRATED ANNUAL REPORT 2025 03 KEY MESSAGES
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