21 July 2013

Mah Sing launched final tower of Meridin Suites Residences - July 2013

Mah Sing, one of my favorite counters in Malaysia Stock Exchange, launched its latest tower of Meridin Suites Residences in Medini, Iskandar Malaysia this month, which is just a few kilometer away from TUAS highway. 

Medini, a next hot spot in Nusajaya, Zone B of Iskandar Malaysia, is growing fast by attracting a lot of well known developers such as UEM Land, IJM Land, Sunway, and Mah Sing etc as the focus switched to this area after several rounds of property curbs in Singapore property market. 

I paid a visit to Medini last Friday while waiting my brother to come back from TUAS. I realized that there was a little changes in this area. Traders Hotel and Hello Kitty World were launched not too long ago at Puteri Harbour. However, I see little activities here as there is still a room for people to stay and work here besides having a leisure time. I did notice that there were cars from Singapore and Kuala Lumpur parked at Traders Hotel, indicating that this area could attract people from around the region to have a great fun here. 

Back to the topic, this last tower comprises of units of 2- and 3-bed-room suites with built-ups from 968 square feet, priced from RM757,000 on wards (or RM782 psf ). I would say this price is considered reasonable - mid expensive if you compare it to buildings nearer to Puteri Harbour which could easily stands at RM1,000 psf. 

Mah Sing also launched a representative office in Singapore officially to boost up its popularity to  Singapore investors who are interested in Malaysia properties. As a long term investor, I hope Mah Sing can focus more on higher margin projects in right location. As there is a political risk, I do not think that Mah Sing can venture in oversea without cor-operating with local companies. Anyway, let's see if Mah Sing can still have a healthy growth since its debut in property division year 1994. 

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