$MATRIX / 5236 (MATRIX CONCEPTS HOLDINGS BERHAD)
Research by APEX
Buy – TP of MYR 2.14

“Beefing up Malaysia Vision Valley 2.0”

Landbank replenishment. Matrix’s wholly owned subsidiary, MCHBD Development Sdn Bhd and NS Corporation through a joint venture vehicle namely Megah Sedaya Sdn Bhd is purchasing four plots of freehold agricultural lands located in Mukim Labu, Daerah Seremban, Negeri Sembilan for RM435.0m from Kumpulan Sime Darby Bhd.

Analyst(s):
Team Coverage
research.dept@apexsecurities.com.my