finance
Mah Sing Buys Kuala Lumpur Land Plot for Future Development, Continues Data Center Push in Malaysia
The Malaysian conglomerate, ranked No. 422 on Fortune’s Southeast Asia 500, reported decade-high real estate sales of 2.51 billion ringgit in 2025 and raised its 2026 revenue guidance to 2.76 billion ringgit. Deputy CEO Lionel Leong cited natural economic spillovers from 5.2 percent national growth as the firm pivots further into property and industrial development for the AI era.
May 10, 5:00 PM·2m read1 source
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Mah Sing has acquired land fewer than 500 meters from Kuala Lumpur’s city center and hopes to roll out a premium offering later in 2026, Lionel Leong, Mah Sing’s deputy CEO, told Fortune. The move marks a departure from the firm’s M Series properties, which are priced at 500,000 Malaysian ringgit ($126,000) and target the mass market with affordable luxury homes.
51 billion ringgit ($633 million) in 2025, a decade high.
3 million). Property generates more than 80 percent of Mah Sing’s revenue. The company pivoted hard toward property development in 1994 after beginning as a plastics trader.
Mah Sing was founded in 1965 in Kuala Lumpur by Tan Sri Leong Hoy Kum as a plastics trader. The name derives from the ambition to expand across both Malaysia (“mah”) and Singapore (“sing”). 2 percent in 2025, ahead of government forecasts.
Lionel Leong said the success is benefiting local firms. “The spillovers are quite natural,” he said. Leong pointed to a 150-acre site in Southville City, Selangor, which Mah Sing hopes to develop into a large-scale data center hub with proximity to key infrastructure, access to power, water, dark fiber connectivity and the potential to tap renewable energy solutions.
15-acre freehold site within the Johor-Singapore Special Economic Zone. The zone was formally established in January 2025 to allow businesses to set up complementary operations on both sides of the causeway. Mah Sing has identified Johor Bahru as a key growth market due to its proximity to Singapore and rising cross-border economic activity.
