Mah Sing observes natural spillovers from Malaysia’s robust growth, as the conglomerate places bets on high-end residences and data centers
(SeaPRwire) – A Malaysian property developer established over six decades ago as a plastics trader is adapting to the artificial intelligence era by leveraging its land holdings in the Klang Valley and Johor to attract data center operators.
Mah Sing, ranked No. 422 on ’s Southeast Asia 500 list, achieved record-breaking real estate sales of 2.51 billion ringgit ($633 million) in 2025—the highest in a decade; the conglomerate also raised its 2026 revenue guidance to 2.76 billion ringgit ($696.3 million). It reported a profit of 260.1 million ringgit ($66 million) last year, up from 240.8 million ringgit the previous year.
Now, the company is focusing on two strategic areas: premium residential properties in Kuala Lumpur’s central urban area and industrial land for data center development.
Recently acquiring land located within 500 meters of Kuala Lumpur’s city center, Mah Sing plans to launch a “premium offering” later this year, according to Lionel Leong, the firm’s deputy CEO. This marks a shift from the company’s M Series developments, which emphasize “affordable luxury” homes priced between 500,000 and 1 million Malaysian ringgit ($126,000), targeting the mass market.
Malaysia itself enjoyed robust economic growth last year, expanding at 5.2%, exceeding government forecasts. Leong attributes local firms like Mah Sing to benefit from these gains. “The spillovers are quite natural,” he said. “The current administration is actively attracting foreign direct investment, and the middle class is growing.”
Humble beginnings
Founded in Kuala Lumpur in 1965 by Leong’s father, Tan Sri Leong Hoy Kum, Mah Sing’s name reflects the company’s original ambition to expand across both Malaysia (“mah”)” and Singapore (“sing”)). While initially operating as a plastics business, the company shifted its focus to property development in 1994.
Today, property development accounts for more than 80% of Mah Sing’s revenue. “On the margin side, it’s actually a lot better moving into properties,” Leong explains, noting that the new direction has allowed the firm to apply its entrepreneurial strengths while capitalizing on Malaysia’s ongoing urbanization efforts.
As a young man, Leong recalls accompanying his father to construction sites, where his father had already begun exploring real estate opportunities in the 1990s. “He would drive us out far away from town,” he recalled. “It was very hot, but he’d be on-site talking with all the technical personnel.” (Leong eventually joined the company in 2013, first managing the group’s strategic development and operations, before being appointed deputy CEO in 2024.)
In recent years, Mah Sing has broadened its portfolio beyond residential projects to include data centers and industrial parks, aiming to take advantage of Malaysia’s burgeoning AI sector.
Leong highlights a 150-acre site in Southville City, Selangor, which the company intends to develop into a large-scale data center hub. “This location offers strong fundamentals, including proximity to key infrastructure, reliable access to power, water, and dark fiber connectivity, as well as opportunities to integrate renewable energy solutions,” he stated.
The firm has also identified Johor Bahru as a critical growth region due to its closeness to Singapore and increasing cross-border economic activity. Mah Sing secured a 419.15-acre freehold plot within the Johor-Singapore Special Economic Zone, officially launched in January of the previous year to facilitate complementary business operations on both sides of the causeway.
Looking ahead, Leong says Mah Sing’s core strategy centers on diversification. During the surge in personal protective equipment demand during the pandemic, the company entered the manufacturing of plastic gloves.
“We aim to build a balanced and diversified business portfolio,” he concluded. “In the long term, we want to protect ourselves against market cycles and political uncertainties.”
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