Playing the Outbound Greater Klang Valley Conurbation

Matrix Concepts Holdings Bhd Chairman Dato' Haji Mohamad Haslah bin Mohamad Amin discusses:  
Its IPO Exercise: 

- Brief rundown of business model: property developer - focus on Johor and Negri Sembilan; 

- Chairman's role - executive role -- is also the Chief Executive Officer of MBI -- or Mentri Besar Incorporated, a Negeri Sembilan State owned entity (a role you have been in since 2004) -- whether this gives Matrix an UMNO-linked element; 

- Retail portion -- tiny @ 10 million new shares of the 62.6 million new shares on offer - issues; 

- Placement: huge @ 44 million new shares - Identity placees - time horizon - profile; 

- Valuation - net PE of 6.4x / 39% over consolidated Net Assets per share - issue; 

- Hugely profitable as a private company: 104 million ringgit PAT on 456 million ringgit revenue in 2012 - GP Margin of 43% -- reasons for going public; 

- Market capital - 660 million ringgit - dozens listed property players, many trade well below NTA - visibility; 

- Offer for sale: disposing parties: Ambang Kuasa - Magnitude Point - Target Venue - Meridien Effect - Fine Approach - Ambuang Kuasa bought its 30 million shares at 22 sen each: ie a tenth of the 2.20 ringgit offer price - issues; 

- Advisers as Hong Leong Investment Bank and Kenanga Investment Bank - fees - ability - issues; 
Positioning: 

- Approximately 82% of new launches located in Negeri Sembilan to take advantage of Greater Klang Valley Conurbation; 

- Retail - industrial - commercial - mix - investees - demand outlook - psf values - price outlook - issues; 

- Location - issues - buyer profile; 

- Bumi buyers - bulk of new purchases here - issues; - Johor - Kluang - project details; 
Corporate: 

- Net cash - dividend policy; 

- Landbanking? Outlook - details: location - project types; 

- Future projects