MCT Berhad ("MCT" or "the Company") is fast emerging as a leading property developer in Malaysia. We are currently developing our first township which is located at Cybersouth and have various completed as well as ongoing residential, retail and commercial projects in Cyberjaya and One City, USJ.
Commencing operations in 1999 as Modular Construction Technology Sdn Bhd with a total paid-up share capital of RM250,000, we were listed on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Malaysia") on 6 April 2015 and, today, count among the top 15 property counters on the exchange with a market capitalisation of approximately RM1.5 billion.
Our success is underpinned by our construction philosophy centred on the principles of an integrated builder with an in-house design team, construction and purchasing arm, coupled with our own precast and ready-mixed concrete plant. These key features have enabled the Group to adapt quickly to changing market conditions while optimising costs to remain competitive.
Our existing landbank comprises over 540.2 acres of which only 20.4 acres have been fully developed. Ongoing and soon-to- be launched projects with a combined gross development value (GDV) of RM8.02 billion account for another 209.9 acres, leaving 309.9 acres for future projects with a conservatively estimated GDV of RM5.16 billion.
Driven to meet market demand, we are currently focused on affordable housing and have been validated in this decision by the encouraging take-up rate of ongoing projects. At the same time, we are expanding our portfolio of retail properties with Phase 3 of One City and SkyPark @ Cyberjaya.
Our single largest shareholder, Regent Wise Investment Limited, is a wholly-owned subsidiary of property conglomerate Ayala Land Inc. ("Ayala"), the leading property developer in the Philippines with a market capitalisation of approximately RM50 billion. We are collaborating closely with Ayala to create synergies for both organisations and to accelerate our emergence as a key property player in the Malaysian market.