MAH Sing Group Bhd recorded a higher pre-tax profit of RM48.9 million in the third quarter ended Sept 30, 2010, compared to RM32.3 million in the same period last year. The profit was achieved on a higher revenue of RM283.4 million against RM135.1 million previously. For the nine-month period, the group pre-tax profit rose to RM138.6 million from RM95.7 million in the previous year, on revenues of RM810.8 million and RM452.6 million respectively. Group Managing Director cum Group Chief Executive Tan Sri Leong Hoy Kum said the improved revenue and profit for the financial period was attributable to progressive recognition of development revenue and profit contribution from the property development activities. He added, the plastic division also recorded improved revenue and profit over the corresponding period in the previous year. For the prospects and property industry outlook, Leong said the group was confident that it would be able to achieve satisfactory results for 2010 in view of the strong sales already locked in as well as good response to project previews. "The property market is sustainable and the current buying pattern is backed by fundamentals of the economy and purchasers," he said in a statement today. - BERNAMA
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