|  | 

Property News

Matrix Concepts appoints deputy chairman’s son Kelvin Lee as director

KUALA LUMPUR (Sept 1): Property developer Matrix Concepts Holdings Bhd has appointed Kelvin Lee Chin Chuan, the son of its group executive deputy chairman, as its non-independent and non-executive director effective Friday.
Kelvin is the son of Datuk Seri Lee Tian Hock, who is also the single largest shareholder of the group with an 11.47% direct stake and a 21.27% indirect stake.
The 32-year-old joined the group in 2018 as an executive assistant to the group managing director and left in 2021. He currently holds a 0.23% direct stake in the company and an indirect 0.16% via his spouse.
Kelvin also holds directorships in several family-owned companies, namely Cangkat Hartamas Sdn Bhd, Karisma Perwira Sdn Bhd and Horizon L&L Sdn Bhd.
In the first quarter ended June 30, 2023 (1QFY2024), Matrix’s net profit grew 37.3% to RM64.6 million from RM47.04 million 1QFY2023, as it benefited from improved speed of construction activity with labour shortage issues resolved, while revenue jumped 44.6% to RM331.43 million from RM229.3 million.
It has declared a first interim dividend of 2.5 sen per share in respect of FY2024, to be paid on Oct 5.
Matrix shares finished one sen or 0.65% lower at RM1.52 on Friday, valuing the group at RM1.9 billion.
Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!

Source: EdgeProp.my

Latest News


Your email address will not be published. Required fields are marked *

Name *

Email *