“Matrix Concepts’ founder transfers 10 million shares to son Kelvin Lee, marking a new phase in leadership and growth for the property developer.”
Kuala Lumpur, 03rd Octorber 2025, 01.49pm – Matrix Concepts Holdings Bhd founder and group executive deputy chairman Datuk Seri Lee Tian Hock has transferred 10 million shares in the property developer to his son, group executive director Kelvin Lee Chin Chuan.
In a statement on Thursday, Matrix Concepts said the move reflects the group’s commitment to a smooth leadership transition, with Chin Chuan set to play a key role in driving the next phase of the company’s growth.
“The company is looking forward to this chapter as we continue to strengthen our position as a leading developer and trusted brand,” Matrix Concepts said.
The transfer, executed via RHB Nominees (Tempatan) Sdn Bhd — RHB Asset Management for Chin Chuan — was made at nil consideration.
Following the transaction, Chin Chuan’s stake in Matrix Concepts has increased to 1.563%, comprising 1.403% direct interest and 0.16% deemed interest through his spouse. In total, he now owns 29.34 million shares.
As of Oct 1, Tian Hock retained a 32.527% stake in the company, including 9.508% direct interest and 23.019% indirect interest.
Chin Chuan first joined Matrix Concepts in 2018 as executive assistant to the group managing director before pursuing other business ventures in 2021. He currently serves as a committee member of the Real Estate Housing Developers’ Association (REHDA) Negeri Sembilan, according to the company’s latest annual report.
At 4.40pm Thursday, Matrix Concepts’ share price slipped one sen or 0.71% to RM1.40, valuing the group at RM2.63 billion.
