This article first appeared in The Edge Financial Daily, on August 2, 2016.

KUALA LUMPUR: Mah Sing Group Bhd has appointed Ho Hon Sang as chief executive officer (CEO) cum executive director, effective yesterday.

Ho takes over from Ng Chai Yong, who resigned to pursue other interests. Ho was formerly CEO of property developer Sunsuria Bhd, a position he held until May 23 this year.

In a statement, the group’s founder and managing director Tan Sri Leong Hoy Kum commended Ng for his contribution to Mah Sing, while welcoming Ho into the group.

“We believe his in-depth property industry experience and strong network will help drive Mah Sing to the next level of growth,” Leong said.

Ho, 55, has over 30 years of experience in property development, engineering, consultancy, road privatisation and general management.

He will assist Leong by providing strategic advice to the board of directors, sharing insights for employees’ performance improvement and presiding over the organisation’s day-to-day operations.

“Hon Sang’s rich experience dovetails with Mah Sing’s stable of diverse projects, which are spread across Malaysia’s key economic hotspots,” Leong added.

Separately, Mah Sing shared that it launched Tower A of Cerrado Residential Suites in Southville City, KL South, over the weekend. All 404 units, sized between 656 sq ft (two-bedroom) and 825 sq ft (three-bedroom), priced from RM357,000, have now been fully taken up. The launch also marked Mah Sing’s collaboration with Bank Simpanan Nasional’s Youth Housing Scheme, under which up to 100% funding is available for young married couples who are first-time homebuyers.

Successful applicants also get additional financing of up to 5% of the purchase price for the cost of Mortgage Reducing Term Assurance or Mortgage Reducing Term Takaful.

Additional aid is offered by the government with monthly disbursements of RM200 for the first two years. There will also be a 50% stamp duty exemption on the sale and purchase agreement, as well as banking facility legal documents.

Cerrado Residential Suites are affordable serviced apartments comprising four towers, with 404 units per tower. The project is set to be completed in the next four years.

Another project which qualifies for the housing scheme is Mah Sing’s Meridin East in Pasir Gudang, Johor, which will be launched this weekend. Located along Jalan Kong Kong, the 1,313-acre (531.35ha) Meridin East is Mah Sing’s biggest integrated mixed development, and will enjoy direct access from the Senai-Desaru Expressway.

Mah Sing will then launch its Ferringhi 2 project in Penang Island on Aug 13 and 14.