|Prop dev cost||597.2||583.5||566.2||556.3||524.4|
|Net Cash Flow||17.3||25.8||-10.1||-45.5||-39.4|
No revenue recognition from land sales in current quarter though, as most have been rushed to be completed before GST last quarter.
Matrix has launched RM437mil worth of new projects in the first half of 2015. It changed its plan to scale down targeted launch in FY15 from RM1.1bil to RM666mil. It will launch Residency SIGC with a GDV of RM229mil in Q3.
Planned project launch in 2016 include affordable housing project worth RM1bil in Kota Gadong Perdana next to Bandar Seri Sendayan.
This huge project comprises 3200 units of houses priced below RM400k, and should be able to help Matrix to sustain sales in FY16.
Besides, Matrix has just incorporated a new company Matrix Healthcare Sdn Bhd, which is believed to provide healthcare services in BSS in the future.
Long term investors in Matrix should focus on its business, not its share price.