HIS SON, LIONEL LEONG, 35, IS NOW DEPUTY CEO AND ED ON MAH SING BOARD

Entrepreneurship is seizing the opportunity when the circumstances open a door. Timing is simply everything. The two decades of property boom years (1990-2019) made billions for property developers in the country. They rode the wave. One of them is Tan Sri Dato' Sri Leong Hoy Kum, the man behind leading property developer Mah Sing Group Berhad. He was born into a family that did a small business in plastics trading in Johor. But he had the entrepreneurial spirit in him. Trading was good but manufacturing was better since margins would be higher. In 1979 Mah Sing Plastic Industries began operations and was listed on the then KLSE (now Bursa Malaysia) in 1992. 

Tan Sri Leong saw the burgeoning property market boom at its nascent stage in the 1990s. He led Mah Sing to its first property project in 1994 - link houses in Ulu Yam, Selangor. Then in 2000 he launched Mah Sing's  maiden township development in Sri Pulai Perdana, Skudai, Johor. Tan Sri Leong still looks back with pride that he introduced the concept of gated and guarded living for link homes in Johor. The success of his property ventures led to the reclassification of Mah Sing from the Industrial Sector to the Property Sector in year 2000. 

Today Mah Sing's property division accounts for 79% of group revenue with a growing innovative plastic manufacturing division that makes plastic pallets for transporting goods as its core business. It also produces plastic boxes, furniture and helmets. 
Mah Sing boasts of 52 residential, commercial, retail, hospitality and industrial property projects in Greater Kuala Lumpur, Klang Valley, Penang, Johor and Sabah. It has a growing land bank of 1,922 acres. For FYE 31 Dec 2023 Mah Sing reported revenues of RM2.6 billion and pre-tax profit of RM327.4 million. 

Succession plan was in place when Tan Sri Leong recently appointed his son, Lionel Leong Jihn Haur, 35, as Mah Sing's new Deputy CEO effective 2 Feb 2024. At the same time Mah Sing also appointed property veteran Datuk Voon Tin Yow as the Group CEO. Observers see this as a transitional phase for Lionel to be brought to speed in eventually managing this conglomerate. He joins the New Gen elite in family businesses in Malaysia. (seeSparrow Instagram post on Lionel Leong). 

ACKNOWLEDGEMENTS

1. Mah Sing Group Berhad. 2022 Annual Report. https://www.mahsing.com.my/web/storage/2023/04/1.-MAH-SING-IAR2022_WEBSITE.pdf
2. KLSE Screener. 23 February 2024. https://www.klsescreener.com/v2/news/view/1267279/mah-sing-appoints-new-group-ceo-deputy-ceo
3. The Edge Malaysia. Racheal Lee. 17 April  2024. https://theedgemalaysia.com/node/706854
4. The Peak. 29 July 2019. https://thepeak.com.my/on-the-cover/building-for-the-future-how-tan-sri-dato-sri-leong-hoy-kum-laid-the-building-blocks-for-mah-sing-groups-success/
5. Options. 27 October 2018. Diana Khoo. https://www.optionstheedge.com/topic/people/cover-story-tan-sri-leong-hoy-kum-founder-and-group-managing-director-mah-sing-group
6. KLProperty Talk. https://www.klpropertytalk.com/2024/02/mah-sings-fy2023-net-profit-improves-20-torm215mil/
7. Property Guru. 23 September 2021. https://www.propertyguru.com.my/property-guides/analysing-20-years-of-malaysian-property-market-data-45918
8. Mah Sing Plastics. https://www.msplastics.com.my/