KUALA LUMPUR: Property developer Mah Sing Group Bhd has spent slightly above RM6 million out of RM28 million allocated for digitalisation effort.
Executive director Datuk Steven Ng Poh Seng said the company has embraced digital initiatives in every part of its property journey - from sales and marketing, construction management and quality assurance, customer experience and engagement to property management.
“We budgeted about RM28 million for the start for three years from 2017 to 2019. So far, we have spent RM6 million plus.
“This is at a very initial stage. What we are doing here is basically to cut down all the papers so that customers have easy access. They can look at our projects via our apps.
“Over the medium to long term, we are looking at data analytics. With data and artificial intelligence, we can study our prospective buyers’ behavior.
“But at the moment, we just want to ensure that we develop apps to have all the things in place for buyers to have seamless customers experience,” he told said during a press conference on the sidelines of Invest Malaysia 2019 here today.
In April 2018, Mah Sing has launched MY Mah Sing app that provides a number of services to caters home buyers’, from signing the sales and purchase agreement, receiving the keys to their unit and starting a home.
Customers are now able to keep abreast of construction progress and keep themselves updated on any defect rectification.
“The app further enhances the customer experience and provides convenience to buyers, allowing them to book facilities, register guests and renovation contractors,” he said.
The group had previously announce that it is launching RM2.2 billion worth of properties for 2019 as well as aiming for a minimum RM1.5 billion sales, with focus on affordable homes that are priced below RM700,000 at strategic locations.
The company, that has a net cash position of RM1.22 billion and bank balances as at December 31, 2018, is also aggressively looking and potential landbanks, particularly in the Klang Valley.
The group currently has 2,105 acres of land in Malaysia, yielding gross development value (GDV) and unbilled sales of RM25.7 billion that can provide eight years of earnings visibility.
Ng said the company’s unsold units now stands at RM580 million, consisting of large units such as penthouses and corner units, of which the company planned to dispose soon.
Meanwhile, on the Prime Minister’s remark on the plan to reduce government-linked companies’ (GLCs) stakes in public listed entities, Ng said he is confident Permodalan Nasional Bhd’s (PNB), Employees Provident Fund’s (EPF) and Tabung Haji (Urusharta Jamaah)’s stakes in Mah Sing will not be affected following the company’s excellent track record.
“I do not think the statement come from the Prime Minister is across the board. If you perform and you continue to deliver – surely, they still want to invest in assets that give good return,” he said.
PNB currently holds 17 per cent stake in Mah Sing, while EPF holds nine per cent and Tabung Haji (Urusharta Jamaah) holds six per cent.