,Mohamad Haslah Mohamad Amin
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IN spite of an unprecedented challenging year, the property sector continues to remain steady as developers continue to hold their own by switching their strategy up to remain competitive.
On a one-year basis, the KL Property Index – which is made up of listed shares of property companies – has risen more than 10%, thus reflecting the resilience of the local property industry.
At the 2021 Malaysian Housing and Property Summit last week, Country Heights Holdings Bhd founder and executive chairman Tan Sri Lee Kim Yew said the Malaysian property market has remained resilient and he believes property prices will stay competitive after the pandemic.
In the spirit of being resilient, Lee said his motto has always been to turn crisis into opportunities.
For Matrix Concepts Holdings Bhd chairman Datuk Mohamad Haslah Mohamad Amin, experience in handling past crises has helped stir the company through the current pandemic.
“Since Matrix Concept’s inception over two decades ago, we have experienced two major economic downturns, namely the 1997 Asian Financial Crisis and the 2008 Global Financial Crisis,” he says in the group’s recently released 2021 Annual Report.
“The lessons gained from those events have been embedded in the group’s approach in giving great emphasis on financial prudence and operational sustainability.”
As such, Mohamad Haslah emphasises that Matrix Concepts has always maintained a healthy financial position and sound cashflow management throughout the years.
This vigilance, he adds, has been “a formidable armour” in the group’s management of the Covid-19 pandemic.
Looking ahead, Mohamad Haslah says the group intends to further enhance its operational and cost efficiencies while further exploring new and innovative methodologies in its activities.
“The threat and challenges posed by the pandemic remains real and it seems that we must grasp the possibility of restricted physical movements and prolonged uncertainties to be a theme for our financial year ending March 31, 2022.”
The insurmountable challenge to inoculate most of the country’s population and the discovery of new variants suggest that uncertainties could possibly be prolonged beyond the next 12 months, he adds.
“The group will continue to monitor the latest developments relating to the pandemic and has put in place contingencies to address shortcomings caused by any disruption.
“Matrix Concepts will remain true to its ethos of prudent financial management without sacrificing opportunities for growth and improvements,” says Mohamad Haslah.
IJM Corp Bhd chairman Tan Sri Krishnan Tan, in the group’s latest annual report, says business recovery will ultimately depend on the pace of the national immunisation programme.