PETALING JAYA: Despite having posted a 54% year-on-year (y-o-y) drop in net profit for the first quarter ended March 31, 2026 (1Q26), S P Setia Bhd is maintaining its plans for new launches of property development over the course of the financial year 2026 (FY26), keeping its sales target of RM4.6bil for FY26.
For 1Q26, the property developer’s net profit slid to RM31.12mil or earnings per share of 0.62 sen, mainly due to fewer land sale transactions and unrealised foreign exchange losses.
This was despite the higher revenue recorded in 1Q26, which grew by 7% y-o-y to RM826.54mil.
In a statement, the group said it secured sales of RM555mil in 1Q26, comprising RM500mil (90%) from domestic development and RM55mil (10%) from international development.
Within the domestic segment, the central region led with RM317mil, followed by the southern region at RM174mil.
S P Setia said its overall performance was impacted by lower land sale transactions on a quarter-on-quarter basis.
President and chief executive officer Datuk Zaini Yusoff said this quarter underscores the strength of the group’s operating model and disciplined execution, supported by prudent financial management and continued focus on cost and cash efficiency.
“As we navigate a dynamic external environment, we remain focused on delivering quality developments, progressing our long-term growth strategy in catalytic townships and eco-industrial parks, and advancing key initiatives in Penang and Vietnam,” he said.
S P Setia noted it intends to maintain its plans for new launches of property development over the course of FY26 across the central, southern, and northern regions, as well as at the international front.
Property development remains at the core of the company, leveraging residential and commercial product mix optimisation to drive enhanced profitability.
Further, the group said it will continue to advance its strategic growth initiatives across key segments.
“Within the industrial expansion segment, progress is being made on its plans at the Setia Fontaines industrial park development in Penang following rezoning approval on Oct 30, 2025,” the company said.
On the international front, Setia Edenia in the township of EcoXuan in Ho Chi Minh City, Vietnam, remains on track for completion in 2027.
The group said the development is poised to emerge as a key landmark in the northern corridor of Ho Chi Minh City.
Meanwhile, S P Setia said it will continue to monitor the US-Iran conflict since late February 2026, with potential cost and market impacts remaining uncertain.
The group said near-term exposure is manageable, supported by limited exposure from existing construction contracts, alongside steady project execution, while no significant slowdown in underlying demand is observed.
“While rising construction costs may influence the timing and structuring of new project launches, the group remains focused on execution through proactive cost management and operational discipline.
“This includes prioritising cost efficiency and value optimisation, maintaining prudent cash management, strengthening liquidity buffers, and preserving financial flexibility amid ongoing uncertainties,” S P Setia said.
PETALING JAYA: Despite having posted a 54% year-on-year (y-o-y) drop in net profit for the first quarter ended March 31, 2026 (1Q26), S P Setia Bhd is maintaining its plans for new launches of property development over the course of the financial year 2026 (FY26), keeping its sales target of RM4.6bil for FY26.
For 1Q26, the property developer’s net profit slid to RM31.12mil or earnings per share of 0.62 sen, mainly due to fewer land sale transactions and unrealised foreign exchange losses.
This was despite the higher revenue recorded in 1Q26, which grew by 7% y-o-y to RM826.54mil.
In a statement, the group said it secured sales of RM555mil in 1Q26, comprising RM500mil (90%) from domestic development and RM55mil (10%) from international development.
Within the domestic segment, the central region led with RM317mil, followed by the southern region at RM174mil.
S P Setia said its overall performance was impacted by lower land sale transactions on a quarter-on-quarter basis.
President and chief executive officer Datuk Zaini Yusoff said this quarter underscores the strength of the group’s operating model and disciplined execution, supported by prudent financial management and continued focus on cost and cash efficiency.
“As we navigate a dynamic external environment, we remain focused on delivering quality developments, progressing our long-term growth strategy in catalytic townships and eco-industrial parks, and advancing key initiatives in Penang and Vietnam,” he said.
S P Setia noted it intends to maintain its plans for new launches of property development over the course of FY26 across the central, southern, and northern regions, as well as at the international front.
Property development remains at the core of the company, leveraging residential and commercial product mix optimisation to drive enhanced profitability.
Further, the group said it will continue to advance its strategic growth initiatives across key segments.
“Within the industrial expansion segment, progress is being made on its plans at the Setia Fontaines industrial park development in Penang following rezoning approval on Oct 30, 2025,” the company said.
On the international front, Setia Edenia in the township of EcoXuan in Ho Chi Minh City, Vietnam, remains on track for completion in 2027.
The group said the development is poised to emerge as a key landmark in the northern corridor of Ho Chi Minh City.
Meanwhile, S P Setia said it will continue to monitor the US-Iran conflict since late February 2026, with potential cost and market impacts remaining uncertain.
The group said near-term exposure is manageable, supported by limited exposure from existing construction contracts, alongside steady project execution, while no significant slowdown in underlying demand is observed.
“While rising construction costs may influence the timing and structuring of new project launches, the group remains focused on execution through proactive cost management and operational discipline.
“This includes prioritising cost efficiency and value optimisation, maintaining prudent cash management, strengthening liquidity buffers, and preserving financial flexibility amid ongoing uncertainties,” S P Setia said.
With a GDV of RM82 million, Impiana’s 29 shoplots is strategically positioned with prime frontage along Jalan Bangi Lama, a vital traffic corridor connecting Semenyih, the PLUS Highway and Bandar Seri Putra.
KUALA LUMPUR (May 19): S P Setia Bhd (KL:SPSETIA) has opened registration for Impiana, its newest freehold commercial offering in the 775-acre Setia Alamsari township in Kajang, according to a press statement issued on Tuesday.
The commercial development has a gross development value of RM82 million and features 29 exclusive double and triple-storey terrace and semi-detached shoplots.
S P Setia divisional general manager Koh Sooi Meng said that the company utilises data and smart planning tools to boost connectivity and convenience within the mature township to ensure it remains future ready.
Scheduled for launch in July 2026, the shoplots are set on 22ft by 80ft plots and are strategically located with prime frontage along Jalan Bangi Lama, which serves as a major traffic corridor connecting Semenyih, Bandar Seri Putra and the North-South Expressway.
The location offers sustained visibility for businesses, benefitting from an estimated average daily traffic of 15,000 vehicles along the corridor.
The double-storey units range from 3,436 to 4,941 sq ft with prices starting from RM2.2 million, while the triple-storey units provide built-up areas of up to 9,064 sq ft with prices starting from RM4.8 million.
The flexible layouts of the shoplots are designed to accommodate diverse business services, including retail, food and beverage, healthcare and education.
Upon the full completion of the Setia Alamsari township, the development is expected to host 10,000 homes and 40,000 residents, providing a ready consumer market and strong footfall for commercial investors.
Impiana will also bring daily conveniences closer to residents of nearby residential enclaves within the township, such as Elysian, a low-density collection of 40 luxury homes comprising 18 bungalows priced from RM2.26 million and 22 semi-detached homes starting from RM1.65 million.
The commercial hub is also situated near Carabella, a residential phase consisting of 72 double-storey linked semi-detached cluster homes with prices starting from RM959,000.
The township also plans to expand its residential offerings in July 2026 with the introduction of Garden Homes, a limited collection of 54 double-storey freehold terrace homes on 30ft by 70ft parcels.
SHAH ALAM (May 7): S P Setia Bhd will unveil its Balinese-inspired enclave of freehold homes called Damaira in Setia Mayuri, Semenyih this month, the company announced via a statement today.
With a total GDV of approximately RM87.93 million, Damaira comprises 54 units of two-storey semi-detached houses sitting on land sizes of 3,200, 3,920, and 3,760 sq ft.
With individual titles and built-ups ranging from 2,740 to 2,957 sq ft, Damaira homes prices will range from RM1.47 million to RM2.27 million.
Setia Mayuri is a 209-acre development situated near Broga Hill.
“At Setia, we design townships with enduring value in mind where thoughtful placemaking, meticulous planning and nature coexist seamlessly. Our eco-sanctuaries combine artistry, lush greenery and expansive parks to create environments that enhance everyday living. Setia Mayuri embodies this philosophy, distinguished by its low-density planning, manicured landscapes, and the calming presence of Lamantara Park, a Balinese-inspired garden that forms the green heart of the township,” said S P Setia COO Datuk Yuslina Mohd Yunus.
“Damaira is a refined expression of this vision. With only four to five homes per acre within a fully guarded and fenced community, it offers privacy, space and exclusivity that are increasingly rare today.
“Each home is designed with generous proportions, seamless indoor-outdoor transitions, and flexible layouts, from side gardens and balconies to adaptable spaces that can evolve into bedrooms, study areas or multi-purpose rooms,” she added.
Damaira residences will have Setia eGreenLiving features such as green switches, solar PV readiness, rainwater harvesting and EV charging points to cater to various family sizes and living needs.
Meanwhile, Setia Mayuri also has 13 bungalow land lots available for sale, all located within a stone’s throw of Lamantara Park. With freehold, individual titles, lot sizes range from 6,346 to 24,014 sq ft, and prices start from RM571,000.
Connectivity is provided via the Cheras–Kajang Expressway, South Klang Valley Expressway (SKVE) through the Kajang SILK Highway, and the Kajang-Seremban Highway (LEKAS).
Within Setia Mayuri, Lamantara Park features pavilions, an open lawn, a three-lane jogging track, as well as a dedicated Fitness & Play Zone. Another highlight at Setia Mayuri is Wau Park, a green space inspired by the wau kite, blending cultural heritage with outdoor living that offers residents a space to relax.
Located within the township and only a minute from Jalan Broga’s main road, the Baris Place shop lots are anchored by well-known brands like 7-Eleven and Mr DIY, in addition to gym operators, restaurants, and cafés.
Setia Mayuri is also within driving distance from the EcoHill Taipan integrated commercial hub and the Setia EcoHill Walk neighbourhood mall which features an AEON STYLE Supermarket and an Anytime Fitness outlet, cafés, dining outlets as well as shop offices.
Other nearby amenities including Mydin Semenyih, Lotus’s, Econsave, Hospital Kajang and KPJ Kajang Specialist Hospital. Educational facilities are also close by, including R.E.A.L Kids for preschoolers within Club 360, Tenby International School, SK and SMK Bandar Rinching, SJK (C) Sin Ming, and the University of Nottingham Malaysia.
KUALA LUMPUR (April 16): S P Setia Bhd (KL:SPSETIA) will launch 70 units of its Ferrous Finale double-storey terraced homes in Alam Impian, Shah Alam, on April 18.
According to a press statement issued on Thursday, the final phase of the Ferrous series has a cumulative gross development value (GDV) of RM75.43 million.
Located within the 1,235-acre Alam Impian township, the freehold development features intermediate units sized at 22ft by 70ft with built-ups of 1,952 sq ft. End lots and corner units are sized at 24ft by 70ft with built-up areas of 2,161 sq ft. Prices for the units range from RM986,800 to RM1.55 million.
S P Setia chief operating officer Datuk Yuslina Mohd Yunus said Alam Impian represents the group’s long-term commitment to creating liveable townships that integrate design and community.
“Within this context, the Industrial Arts Precinct stands out as a defining component of the township, and Ferrous Finale marks the culmination of a highly successful residential series,” Yuslina said, noting that all three earlier Ferrous phases were fully taken up.
The homes will feature the “Setia eGreenLiving” suite, including solar PV panels, smart locks and green switches. Residents will have access to the LakePoint Club, which includes a swimming pool, gymnasium and a 1,000-person ballroom.
The township is accessible via the Lebuhraya Kemuning Shah Alam (LKSA), Lebuhraya Shah Alam (Kesas), and the Federal Highway. It is also located within 8km of healthcare facilities such as the KPJ Selangor Specialist Hospital and Avisena Specialist Hospital.
Under the group’s Rezeki Bonanza campaign running until April 30, purchasers who sign a sale and purchase agreement within 30 days of booking will receive RM4,000 per unit. Existing “Citizen Setia” homeowners are also eligible for a RM3,000 referral fee under the Kawan Bawa Kawan scheme.
KUALA LUMPUR: S P Setia Bhd has previewed Erica, a new 11.34-acre series of leasehold double-storey terrace homes in Taman Setia Tropika, Sepang, adjacent to its Setia Warisan Tropika township.
With a total gross development value (GDV) of approximately RM93.59mil, Erica comprises 162 units of 20’ x 60’ terrace homes, offering built-ups ranging from 1,405 sq ft to 1,445 sq ft, with prices starting from RM559,000.
In a statement, the property developer said Erica is located about 16km from Cyberjaya and offers direct access to Kuala Lumpur International Airport via a nearby Express Rail Link (ERL) station.
Chief operating officer Datuk Yuslina Mohd Yunus said the group continued to focus on delivering affordable homes within well-connected townships that support evolving lifestyle needs.
“Erica is our newest series of affordable starter homes designed for practicality, comfort, and balanced functionality. With individual land titles, homeowners have the flexibility to carry out renovation or extension works, putting their personal stamps on their Setia homes,” she said.
Erica is suitable for young and growing families, with nearby education institutions including Xiamen University, Nilai University, INTI International College and UiTM Dengkil. It is also close to commercial hubs such as DPULZE Shopping Centre, Horizon Village Outlets and Mitsui Outlet Park.
Homebuyers can also benefit from the group’s Raya campaign running from March 16 to April 30, which includes incentives such as a RM4,000 reward for bookings and an additional RM3,000 referral fee for existing homeowners under its “Kawan Bawa Kawan” programme, subject to terms and conditions.
Setia applied AI across sales and construction workflows through collaborations with proptech startups.
S P Setia Berhad received the AI (Real Estate) category award at the Malaysia Technology Excellence Awards 2026 for deploying artificial intelligence across selected property development processes. Delivered under the Bengkel Inovasi GLC (BIG) programme, the initiative focused on improving sales efficiency and strengthening construction quality through automated lead qualification, design document analysis, and site inspection support.
Work commenced with two core objectives: advancing inclusive homeownership through more efficient sales engagement and reducing defects to improve construction quality. Solutions assessed included AI sales agents and AI-visioning-based inspection solution.
After completing proof-of-concept projects with Setia’s business units, an AI-driven voice and messaging startup was appointed to manage initial customer enquiries, qualify leads, and direct eligible prospects to the sales team.
For construction, site imagery captured via helmet-mounted cameras was analysed using AI to flag potential defects, expanding inspection coverage and reducing the time needed to verify issues and generate reports during construction and pre-handover.
Implementation was supported by business unit champions and cross-functional teams spanning digital & innovation, commercial, quality management, and legal. Startup showcases were conducted to strengthen internal awareness and engagement across the organisation.
The work aligns with Setia’s innovation governance through its Tech & Innovation Council, internal operating framework and partnership with venture builder Antler Ibex. By embedding AI into the workflows, Setia aims to enhance customer experience, strengthen build quality and deliver long-term value in support of its aspiration to build sustainable communities with enriched lifestyles.
Setia remains committed to leveraging technology and data-led innovation to support more sustainable development outcomes, strengthen operational efficiency, and deliver enduring value for the communities it serves.
The Malaysia Technology Excellence Awards, presented by Asian Business Review, recognise technology innovation and digital transformation in Malaysia.
The Malaysia Technology Excellence Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2027 awards programme and be acclaimed for your company’s outstanding contributions in pursuit of technological innovation, please contact Danica Avila (+65) 3158 1386 or awards@charltonmediamail.com.
SHAH ALAM (March 23): Setia Foundation, the charity arm of S P Setia Bhd, successfully held its Sincerely, Setia Ramadan Mubarak programme for the Asnaf community through events in three of the group’s townships recently.
Organised in collaboration with Perumahan Kinrara Bhd (PKB), a subsidiary of S P Setia, the programme took place near the Asnaf communities’ living areas of Bandar Kinrara, Setia EcoHill, and Setia AlamImpian, the company announced via a media release.
The Sincerely, Setia Ramadan Mubarak programme benefitted 240 Asnaf families, with each family receiving RM200 of zakat from PKB and Ramadan baskets worth RM80.
A total of RM67,200 in zakat was disbursed across three Sincerely, Setia Ramadan Mubarak events: at Masjid Al-Ehsan Bandar Kinrara, on March 5; at Club 360, Setia EcoHill on March 10; and at LakePoint Gallerie, Setia AlamImpian on March 12. The initiative was supported by 86 volunteers, contributing a combined 628 volunteer hours across all three events.
“At Setia Foundation, our aspiration goes beyond short‑term aid. We are focused on building stronger, more resilient communities by addressing real and immediate needs, particularly among the underprivileged, persons with disabilities, the poverty‑stricken and the critically ill,” said S P Setia Trustee of Setia Foundation and chief operating officer Datuk Yuslina Mohd Yunus.
“By extending wakalah zakat to Asnaf families living near our developments, we aim not only to ease their preparations for Hari Raya, but also to reinforce a culture of care, dignity and inclusion that is central to Setia’s purpose as a responsible corporate citizen,” she added.
The zakat was contributed by PKB, while Setia Foundation acted as the mediator to identify the beneficiaries and coordinate the Sincerely, Setia Ramadan Mubarak programme.
In Bandar Kinrara, Setia Foundation worked with programme partner Masjid Al-Ehsan Bandar Kinrara to direct support to local Asnaf beneficiaries, while in Setia AlamImpian, the foundation partnered with Masjid Alam Impian and Surau Al-Muhtadin.
In Setia EcoHill, beneficiaries included residents of Kg Rinching Hulu, Kg Sesapan Kelubi, and Pangsapuri D’Cerrum as well as congregants of Musolla Al-Muhibbin, Taman Pelangi Semenyih, reflecting Setia Foundation’s continued commitment to supporting communities in need across its townships.
According to Setia Foundation, each family received a food basket of food items such as cooking oil, ketupat nasi, kuah kacang, sugar, flour, bihun, sardines, Milo, tea bags, biscuits, and coffee powder.
Another key stakeholder within Setia Group was Amari Kuala Lumpur, which also participated in the Sincerely, Setia Ramadan Mubarak events and donated Amari souvenirs including Raya cookies prepared and baked specially by Amari chefs.
PETALING JAYA: S P Setia Bhd has unveiled Summera Grove, a 15.28-acre terrace housing project in Setia Tropika, Johor Bahru, with non-Bumi units fully taken up within hours of launch.
In a statement, the property developer said the 130 non-Bumi units, with a combined gross development value (GDV) of RM123.3mil, were snapped up within a few hours on March 14, with buyers queueing as early as three days prior.
Summera Grove comprises 203 units with an overall GDV of about RM181.43mil. The double-storey terrace homes are sized from 20’ x 60’ to 20’ x 75’, with built-ups ranging between 1,706 sq ft and 1,894 sq ft, and prices from RM719,355 to RM1.43 mil.
Located in Precinct 13 of Setia Tropika, the development sits within a fully gated and guarded township featuring a central business district (CBD) with retail and food and beverage outlets, major banks and the Tropika Convention Hall.
Setia chief operating officer Datuk Yuslina Mohd Yunus said the strong take-up reflects sustained demand for well-planned homes in established townships.
“The strong response at Summera Grove’s launch, where the 130 non-Bumi units were fully taken up within hours, underscores the sustained demand for well-planned, well-connected neighbourhoods in a mature township.
“As the latest residential offering within Setia Tropika, Summera Grove is designed to provide a calm, low‑density living environment while remaining seamlessly connected to established amenities and a thriving CBD, demonstrating Setia’s disciplined approach to township evolution rather than short‑term development,” Yuslina said.
The development incorporates Setia e-GreenLiving features such as smart home locks, solar panels, EV charging conduits, Industrialised Building Systems (IBS) and Box 366, its contactless delivery solution.
Strategically located, Summera Grove is linked to the North-South Expressway via the Kempas Interchange and is about 3.5km from Kempas Baru ETS station, 12km from Johor Bahru city centre and 18km from Senai International Airport.
Healthcare facilities, including Kempas Medical Centre and KPJ Bandar Dato’ Onn are within a 10km radius, while nearby retail options include Lotus’s Setia Tropika and Johor Premium Outlets.
The launch of Summera Grove drives home S P Setia’s commitment to thoughtfully planned developments that deliver sustainable, high-quality homes accompanied by wide, open spaces and lifestyle amenities, setting a new standard for living in Johor.
KUALA LUMPUR: S P Setia Bhd closed the financial year ended Dec 31, 2025 (FY25) with group sales of RM5.11bil, exceeding its full-year target of RM4.8bil.
The sales figure represents a 2% year-on-year increase from RM5.02bil previously, reflecting steady execution across its development portfolio.
The property developer said domestic developments contributed RM3bil, accounting for 59% of total sales, driven mainly by the Southern and Central regions, which recorded RM900mil and RM2bil respectively.
The group’s international projects contributed RM700mil, or 14% of total sales, underscoring its diversified portfolio and steady delivery across key markets.
In the fourth quarter ended Dec 31, 2025, S P Setia’s net profit more than doubled to RM275.1mil, or earnings per share of 5.50 sen, compared with RM103.6mil, or 2.09 sen, a year earlier.
Revenue rose 53.3% to RM1.63bil from RM1.06bil previously.
For the full year, the property developer posted a net profit of RM509.9mil on revenue of RM4.23bil.
The group has continued to reduce its borrowings and improved its current net-gearing ratio to 0.33x, in alignment with its debt reduction strategies.
President and chief executive officer Datuk Zaini Yusoff said the quarter’s performance reflects Setia’s disciplined execution, resilient operating model and continued focus on delivering quality developments.
“While we remain mindful of prevailing market challenges, the group’s fundamentals remain sound. We are cautiously optimistic as we continue to strengthen our footprint across targeted high- growth segments and continue building sustainable long-term value for our stakeholders,” Zaini said.
Looking ahead, S P Setia expects supportive policy measures, including the extension of stamp duty exemptions and enhanced homeownership incentives under Budget 2026 Malaysia Madani to support market demand.
It added that the reduced overnight policy rate is also expected to improve affordability and overall property market sentiment.
On the international front, Setia Edenia in the township of EcoXuan in Ho Chi Minh City, Vietnam, with a GDV of US$81mil (RM381.1mil) remains on track for completion in 2027.
The development is poised to emerge as a key landmark in the northern corridor of Ho Chi Minh City.
“With these fundamentals in place, the group enters FY26 with a targeted sales ambition of RM4.6bil, reflecting continued execution focus and measured growth expectations to deliver sustainable, long-term shareholder value.”
SHAH ALAM (Feb 10): S P Setia Bhd (KL:SPSETIA) will launch Phase 1 of its Aurora double-storey terraced home series on Feb 14, marking the first residential development within the newly introduced Setia Bayuemas South precinct in Klang, Selangor.
According to a press statement issued on Tuesday, the Setia Bayuemas South precinct is the extension of the developer’s 545-acre freehold Setia Bayuemas township development. Aurora Phase 1, also referred to as Phase RP10, is the first launch of Setia Bayuemas South.
Phase RP10 consists of 82 double-storey terraced units sized at 22ft by 75ft, with built-ups ranging from 2,101 to 2,181 sq ft. They are priced from RM880,000. The phase has a gross development value (GDV) of RM76.7 million.
S P Setia chief operating officer Datuk Yuslina Mohd Yunus said Aurora marks a significant step forward as a refined continuation of the group’s existing presence in the area.
“With Aurora, we are not just expanding the township — we are elevating it. As the first expression of Setia Bayuemas South’s refreshed vision, it brings a contemporary design language, integrated green technologies and a wellbeing-focused masterplan crafted for the next generation. While Bayuemas stays rooted in the values that shaped its strong community, Aurora ushers in a vibrant, modern and connected environment for today’s families,” said Yuslina in the statement.
Located in southern Klang, Setia Bayuemas South integrates nature and infrastructure, featuring the township’s second lake and a 1km linear park.
Future-ready features in each Aurora unit include smart lock, electric-vehicle charger port provision, solar conduit preparation and components built using the Industrialised Building System (IBS).
Nearby essential amenities such as SJK(C) Wu Teck, SK Kampung Pendamar, Bukit Tinggi Medical Centre and Hospital Tengku Ampuan Rahimah.
Retail centres nearby include AEON Bukit Tinggi, KSL Esplanade Mall and GM Klang Wholesale City.
The precinct enjoys highway connectivity via the Lebuhraya Shah Alam, SKVE, LKSA and ELITE Expressway, with the upcoming LRT 3 Johan Setia Station—slated to open in 1Q2026—located approximately 3km away.
