PETALING JAYA: Analysts expect Matrix Concepts Holdings Bhd’s sales momentum to be sustained by its Bandar Sri Sendayan development in Negri Sembilan, continuing to be the main contributor to sales.
Hong Leong Investment Bank Research (HLIB Research) said the property group enjoyed accelerated billings year-to-date as the labour shortage in the construction industry improved.
The issue had resulted in its unbilled sales easing 22.7% to RM1.17bil in the third quarter ended Dec 31, 2023 (3Q24) from its peak of RM1.51bil in 3Q23.
“Looking ahead, this impact should dissipate and we expect to see a normalised level of billings. Demand for the township is supported by buyers from the Klang Valley region as they look further away from the city centre for landed homes,” added the research firm.
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