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Overview
Financial Highlight
HeadlinesBusiness Background S P Setia Bhd is a general real estate company that reports in three segments: property development, construction, and other operations. The vast majority of Setia’s revenue is generated by its property development business, which focuses on developing residential and commercial facilities, followed by its construction segment. Setia’s construction segment focuses on building and highway construction. The company considers merger and acquisition investment as a component of its operational growth strategy.
  nisah395 Agreed Qwertyuiop > When the market no one wants property stocks, it is time. :) 05/05/2021 7:19 PM 07/05/2021 8:15 PM  Keyman188 S P Setia sells Johor land to Scientex for RM518.1m (theedgemarkets.com / May 07, 2021 18:31 pm +08) KUALA LUMPUR (May 7): S P Setia Bhd is selling eight parcels of plantation land in Johor to Scientex Bhd for RM518.1 million. S P Setia said in a bourse filing its wholly-owned subsidiary Pelangi Sdn Bhd had entered into a conditional sale and purchase agreement with Scientex’s wholly-owned subsidiary Scientex Quatari Sdn Bhd for the disposal. “The approximately 960 acres of freehold land is located in Mukim of Tebrau, district of Johor Bahru and registered for agricultural use. It is currently home to matured oil palm trees,” it said. According to S P Setia, the sale consideration is arrived at between the parties on a “willing-buyer willing-seller” basis after taking into consideration the market value of the lands of RM480.8 million. S P Setia’s president and chief executive officer Datuk Khor Chap Jen said the sale of the lands is part of the group’s business strategy to improve efficiency by monetising some of the land bank to be ploughed back into its other project developments for immediate launches as well as paring down debt or other use deemed fit by the company. “It is expected to contribute positively to S P Setia’s profits for the next few years,” he said. According to him, S P Setia currently has 11 ongoing projects in the Southern region, and post-sale of the above, the group will still have an effective total remaining land bank of approximately 7,569 acres. “Our focus for this financial year is to optimise the current landbank utilisation and by launching properties that are in demand within our matured townships,” he said. In a separate statement, Scientex said the proposed acquisition represents a strategic investment opportunity to increase and boost its existing land bank. “The close proximity between Scientex’s existing developments and the proposed development will enable Scientex to generate better operational efficiencies through greater economies of scale to be achieved during project implementation,” it said. It also said the landbank expansion is in line with the goal of Scientex to build more affordable homes with an objective of completing 50,000 affordable homes throughout the nation by 2028. “The land is expected to provide a steady and sustainable property development model as Scientex continues to focus on affordably priced landed properties, for which demand continues to remain firm and resilient,” it said. The group also noted the proposed acquisition will be funded by internally generated funds and bank borrowings. The proposed acquisition is expected to be completed in the first half of 2024, it added. S P Setia’s share price gained three sen or 2.91% to close at RM1.06 today, valuing the group at RM4.3 billion. Meanwhile, Scientex went up two sen at RM4.13, valuing the group at RM6.4 billion. ## https://www.theedgemarkets.com/article/s-p-setia-sells-johor-land-scientex-rm5181m 07/05/2021 8:21 PM Keyman188 Management really did the right decision...right planning... CHEERS........... 07/05/2021 8:21 PM Beetles Surprisingly today Setia traded volume quite high and still able to stay flat. Really amazing, it is something brewing ? 11/05/2021 10:21 PM Ninja _07 https://www.thestar.com.my/business/business-news/2021/05/25/s-p-setia-achieves-rm119bil-sales-in-1q 25/05/2021 7:18 PM Qwertyuiop Any idea on how rising building materials cost impact property developer? Will them pass down the inflated costs to the buyers, causing the property prices too increase soon? 14/06/2021 3:24 PM Ntpboon -------------------------- ---------------------------- 美国开动印钞机大水漫灌， 许多国家的屋价都涨， 唯独大马没动静 ？ ------------------------------------- 05/07/2021 3:33 PM drago_7 Cantik..~ Mahyuddin agreed to test his numbers in Parliament in Sept. Yes~! 04/08/2021 2:41 PM Keyman188 Wahhh...3 consecutive quarter can produce profitable results.... BRAVO...OLEH...OLEH...OLEH... 18/08/2021 2:45 PM Keyman188 Keyman188 still holding average cost about 0.66++... NO PLAN to sell unless can reach above 2.80... Never mind...Keyman188 can forgive you since you can't understand this company...... wkwkwk...kekeke...hehehe... Posted by Gtrade > Aug 19, 2021 3:13 PM | Report Abuse spsetia debt/cash =9 Loan= $13,000,000,000 19/08/2021 3:20 PM Investorrr sp breakout with volume today,start to move from the impovesive waive 3 23/08/2021 5:47 PM Keyman188 OMG...so fierce today... Already touched 1.27 liao... wkwkwk...kekeke...hehehe... 07/09/2021 2:51 PM  kevinobc https://www.marketwatch.com/story/dow-futures-drop-300-points-as-china-property-fears-grow-11632121264 21/09/2021 1:49 AM SpikeNow sp setia wake up loh … go go go … today 6out of 10 all fly d !!!! lets make it 7 for you 23/09/2021 12:30 PM Keyman188 What is happening???... Other most counters down...down...down... But this steady steady steady up up up again despite KLIC negative negative downward... BRAVO... 01/10/2021 3:16 PM Keyman188 OMG...What is happening today !!!... Already 3 days non-stop moving up until 1.48... BRAVO...OLEH...OLEH...OLEH... 15/10/2021 3:11 PM investortrader88 investortrader88 My queue buy matched at RM 1.18 this afternoon.good luck guys. 27/09/2021 8:48 PM Sp setia.keep it up .:):) 15/10/2021 3:12 PM Investorrr could be potential to be AA master developer of the Bandar Malaysia which would house HSR,after the cancellation of the previous master? 15/10/2021 4:09 PM  |
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