KUALA LUMPUR: S P Setia Bhd, which swung back to profit in the financial year ended Dec 31, 2021 (FY21) with a net profit of RM284.36mil, has set a sales target of RM4bil in FY22.

“We have set our FY2022 sales target at RM4bil and intend to launch RM4bil worth of new products focusing primarily on landed residential projects,” president and CEO Datuk Choong Kai Wai said in a statement.

S P Setia said it recorded another year of unsurpassed sales performance of RM4.26bil in FY21 and outperformed its original sales target of RM3.8bil.

Its revenue stood at RM3.76bil, up 16.6% from RM3.23bil in FY20.

The developer has declared a final ordinary dividend of 0.65 sen per share as well as preferential dividends of 6.49% and 5.93% per annum, respectively, for its Islamic redeemable convertible preference shares A and B for the financial period.

S P Setia said the main contribution of its sales came from the central region with RM2.92bil, followed by RM556mil from the southern region while the international regions collectively registered sales of RM762mil.

“Notably, its residential properties in established townships in Klang Valley, such as Bandar Setia Alam and Bandar Kinrara garnered solid take-up rates in the final quarter of 2021.

“The government’s move in heeding the rakyat’s needs by extending the Home Ownership Campaign (HOC) to end-2021 also augured well for the group, where it managed to clear RM754mil worth of its completed inventories,” S P Setia said.

In 4Q21, S P Setia launched more landed properties totalling a gross development value (GDV) of RM729mil based on the continuous demand observed.

The first phase of the exclusive two- and three-storey semi-detached homes in Penang Island were among them. Priced above RM1mil per unit, the project has successfully obtained more than 80% take-up rate.

It said all the units in the Daintree Residence project in Singapore were sold out while Eco Lakes Vietnam, the residential properties with a combined GDV of RM133mil launched in 4Q21 garnered a 100% take-up rate.

“Despite the challenging landscape, we are heartened by the encouraging response from the market towards our products and counter-strategies,” Choong said.

He added that the group would continue to leverage its digital platforms to reach out to its customers.

Moving into FY22, S P Setia anticipates gradual recovery to the Malaysian economy, underpinned by the continued increase in global demand and higher private sector expenditure.

As of Dec 31, 2021, S P Setia is anchored by 48 ongoing projects, effective remaining land banks of 7,237 acres with a GDV of RM122.4bil.

Its unbilled sales, which stands at RM10.2bil, will provide earnings visibility in the short to mid-term.

KUALA LUMPUR, Feb 28 — SP Setia Bhd returned to the black with a net profit of RM284.36 million for the financial year ended December 31, 2021 (FY2021) compared with a net loss of RM320.75 million in FY2020.

Revenue rose to RM3.76 billion from RM3.23 billion previously, it said in a filing with Bursa Malaysia.

“The group’s Central region contributed the highest sales of RM2.92 billion, followed by RM556 million from the Southern region, while the international regions collectively registered RM762 million,” it said.

For fourth quarter of FY2021 (Q4 FY2021), its net profit more than doubled to RM123.31 million against RM56.50 million in Q4 FY2020.

However, revenue was marginally lower at RM1.03 billion from RM1.11 billion previously.

The company declared a final ordinary dividend of 0.65 sen per share as well as preferential dividends of 6.49 per cent and 5.93 per cent per annum, respectively, for its Islamic Redeemable Convertible Preference Shares A and B respectively for the financial period.

President and chief executive officer Datuk Choong Kai Wai said, moving into 2022, SP Setia expected a gradual recovery in the Malaysian economy, underpinned by the continued increase in global demand and higher private sector expenditure.

Headline inflation is expected to edge marginally upwards due to the disruptions caused by the global supply chain.

However, the improvement in overall income, employment conditions and consumer sentiments are expected to lift household spending which augurs well for the property sector.

“In view of these positive sentiments, we have set our FY2022 sales target at RM4.0 billion and intend to launch RM4.0 billion worth of new products focusing primarily on landed residential projects,” he said in a statement.

The new landed residential projects will be in Setia Alam, Setia Eco Glades, Setia Safiro, Setia Alam Impian, Bandar Kinrara, Setia Bayuemas, Setia Ecohill and Ecohill 2, Setia Eco Park, and Setia Warisan Tropika in the Central region; Setia Indah, Taman Rinting and Taman Pelangi Indah in the Southern region, and Setia Fontaines in the Northern region.

As of end-2021, SP Setia has 48 ongoing projects and effective remaining landbank of 2,928.71 hectares with a gross development value of RM122.4 billion.

KUALA LUMPUR: SP Setia Bhd kembali mencatat keuntungan dengan keuntungan bersih sebanyak RM284.36 juta pada tahun kewangan berakhir 31 Disember 2021 berbanding kerugian bersih sebanyak RM320.75 juta pada tahun kewangan 2020.

Perolehan meningkat kepada RM3.76 bilion daripada RM3.23 bilion sebelum ini, katanya dalam makluman kepada Bursa Malaysia.

“Wilayah Tengah kumpulan menyumbang jualan tertinggi sebanyak RM2.92 bilion, diikuti RM556 juta dari wilayah Selatan manakala wilayah antarabangsa secara kolektif mencatatkan RM762 juta,” katanya.

Pada suku keempat tahun kewangan 2021 (suku keempat tahun kewangan 2021), keuntungan bersihnya mencatatkan lebih dua kali ganda kepada RM123.31 juta daripada RM56.50 juta pada suku keempat tahun kewangan 2020.

Bagaimanapun, perolehan merosot kepada RM1.03 bilion daripada RM1.11 bilion sebelum ini.

Syarikat mengisytiharkan dividen biasa akhir sebanyak 0.65 sen sesaham dan dividen keutamaan, masing-masing sebanyak 6.49 peratus dan 5.93 peratus setahun, untuk Saham Keutamaan Boleh Tukar Boleh Tebus Islam A dan B untuk tempoh kewangan tersebut.

Presiden dan Ketua Pegawai Eksekutifnya, Datuk Choong Kai Wai, berkata melangkah ke 2022, SP Setia menjangka pemulihan dalam ekonomi Malaysia secara berperingkat, disokong oleh peningkatan yang berterusan dalam permintaan global dan perbelanjaan sektor swasta lebih tinggi.

Inflasi keseluruhan dijangka meningkat sedikit berikutan gangguan disebabkan rantaian bekalan global.

Bagaimanapun, peningkatan dalam pendapatan keseluruhan, keadaan pekerjaan dan sentimen pengguna dijangka meningkatkan perbelanjaan isi rumah yang memberi prospek baik kepada sektor hartanah.

“Berdasarkan sentimen positif ini, kami menetapkan sasaran jualan untuk tahun kewangan 2022 sebanyak RM4 bilion dan berhasrat untuk melancarkan produk baharu bernilai RM4 bilion yang memberi tumpuan terutama kepada projek kediaman bertanah,” katanya dalam kenyataan.

Projek kediaman bertanah baharu itu terletak di Setia Alam, Setia Eco Glades, Setia Safiro, Setia Alam Impian, Bandar Kinrara, Setia Bayuemas, Setia Ecohill dan Ecohill 2, Setia Eco Park dan Setia Warisan Tropika di wilayah Tengah; Setia Indah, Taman Rinting dan Taman Pelangi Indah di wilayah Selatan dan Setia Fontaines di wilayah Utara.

Sehingga akhir 2021, SP Setia mempunyai 48 projek yang sedang dijalankan dan baki simpanan tanah sebanyak 2,928.71 hektar dengan nilai pembangunan kasar sebanyak RM122.4 bilion.

-BERNAMA

KUALA LUMPUR (Feb 28): S P Setia Bhd’s net profit jumped 118.24% to RM123.32 million for the fourth quarter ended Dec 31, 2021 (4QFY21), from RM56.5 million a year earlier, on improved profit margin and higher share of results from some joint venture companies.

Revenue however slipped 7.28% to RM1.03 billion, from RM1.11 billion, on lower contributions from its property development segment, the group said in a filing with Bursa Malaysia.

For the full year, S P Setia was back in the black with a net profit of RM284.37 million, compared with a net loss of RM320.75 million in FY20, as revenue grew 16.56% to RM3.76 billion from RM3.23 billion.

In a statement, S P Setia president and CEO Datuk Choong Kai Wai said the group recorded another year of unsurpassed sales totalling RM4.26 billion in FY21, outperforming its original sales target of RM3.80 billion and fortifying its position as the top property developer in terms of sales.

Choong said the central region of Peninsular Malaysia contributed the highest sales of RM2.92 billion, followed by RM556 million from the southern region, while the international regions collectively registered RM762 million.

He said the government’s move to extend the Home Ownership Campaign to end-2021 also augured well for the group, where it managed to clear RM754 million worth of its completed inventories.

“Despite the challenging landscape, we are heartened by encouraging response from the market towards our products and counter-strategies,” he said, adding that the group would continue to leverage its digital platforms to reach out to its customers,” he said.

Moving into FY22, S P Setia said the group anticipates gradual recovery to the Malaysian economy, underpinned by the continued increase in global demand and higher private sector expenditure.

“We have set our FY22 sales target at RM4 billion and intend to launch RM4 billion worth of new products focusing primarily on landed residential projects in Setia Alam, Setia Eco Glades, Setia Safiro, Setia Alam Impian, Bandar Kinrara, Setia Bayuemas, Setia Ecohill & Ecohill 2, Setia Eco Park and Setia Warisan Tropika in the Central region; Setia Indah, Taman Rinting and Taman Pelangi Indah in the Southern region, and Setia Fontaines in the Northern region,” said Choong.

As of Dec 31, 2021, S P Setia had 48 ongoing projects and remaining land banks of 7,237 acres with a gross development value of RM122.4 billion. Its unbilled sales, which stands at RM10.2 billion, will provide earnings visibility in the short- to mid-term.

The group declared a final dividend of 0.65 sen per share, as well as preferential dividends of 6.49% and 5.93% per annum respectively, for its Islamic Redeemable Convertible Preference Shares A and B for the financial period.

S P Setia’s share price settled three sen or 2.29% lower at RM1.28 on Monday (Feb 28), bringing a market capitalisation of RM5.21 billion.

GEORGETOWN – Penggiat seni dan karyawan dipelawa untuk menyertai Kempen Seni Hotel Setia KARYA (Setia KARYA) yang dianjurkan S P Setia Berhad.

Ketua Pegawai Eksekutifnya, Dato’ Seri Koe Peng Kang berkata, peraduan yang dianjurkan itu bertujuan mengangkat karya artis tempatan dari semua lapisan masyarakat tidak kira profesional, amatur mahupun pelajar khususnya kanak-kanak kurang upaya.

Menurutnya, kempen seni terbabit akan memberi peluang kepada peserta untuk mempamerkan karya unik dan kreatif mereka di setiap bilik di Hotel Amari SPICE Penang dan Amari Kuala Lumpur di KL Eco City yang bakal dibuka tidak lama lagi.

“Inisiatif ini bertujuan untuk mewujudkan ekonomi seni yang mampan di Pulau Pinang dengan menyediakan program yang memberi manfaat kepada artis sekali gus memupuk semangat orang ramai terhadap karya seni.

“Selain itu, ia juga bertujuan untuk menghargai dan memupuk bakat seni tempatan sambil menyediakan platform terbaik melalui hotel kami,” katanya ketika berucap melancarkan kempen Karya Seni di sini pada Sabtu.

Peng Kang mewarna logo Setia Karya sebagai simbolik kepada perasmian kempen seni yang dianjurkan SP Setia Berhad pada Sabtu.
Hadir sama, Pengurus Amari SPICE Pulau Pinang, Noorazzudin Omar, Ketua Pegawai Eksekutif Pusat Konvensyen & Pameran Pulau Pinang, Ashwin Gunasekaran dan pemilik Geleri Seni Pulau Pinang, Cheong Mei Fong.

PETALING JAYA (Feb 10): S P Setia Bhd, through its subsidiary Setia HC Ventures Sdn Bhd, has signed an agreement with Qualitas Medical Group Sdn Bhd (Qualitas) to jointly develop and operate an Ambulatory Care Centre (ACC) in Setia Alam, Shah Alam.

In a media statement, S P Setia president and CEO Datuk Choong Kai Wai said he is confident with the success of the new venture, given the ageing population in Malaysia and the need for such services to be conveniently accessible in established townships housing multi-generational families like Setia Alam.

“This is the first venture by the group into healthcare, which is a growing business, given the market trend. ACCs are outpatient centres providing a range of comprehensive specialist and surgical services including wellness, diagnosis, treatment and rehabilitation. They act as a bridge between full-fledged medical centres and general practice clinics,” Choong said.

Taking cognisance of such developments, the group has identified the first ACC to be established at Setia City Residences in Setia Alam. Setia City Residences is a three-tower integrated mixed development that offers residential and commercial components. It is connected via a link bridge to Setia City Mall, the largest mall in Shah Alam.

“The group has been exploring new businesses that will complement the group’s strength to vary its income, and an ACC, which require relatively small capital investment, is one such potential identified. Accelerated by the recent pandemic, healthcare services have a strong prospect for now and the future,” he shared.

According to a World Bank report, more than 7% of the country’s population was aged 65 and above in 2020. This is projected to double to 14% by 2044, making Malaysia an aged society and 20% by 2056, a super-aged society.

Malaysia’s healthcare market is expected to grow by 127% to RM127.9 billion in 2027 from RM56.3 billion in 2017 as the government pushes ahead with higher public healthcare expenditure, according to Fitch Solutions Macro Research, fuelled by increasing demand for healthcare services and the emergence of new care models beyond traditional hospital settings.

Qualitas’ director and executive chairman Datuk Noorul Ameen Mohamed Ishack foresees that the collaboration with S P Setia will strengthen Qualitas’ offerings in the various areas.

“Qualitas is honoured to be identified by Setia as its first partner in its healthcare foray… Qualitas’ expertise in operating and managing outpatient centres and S P Setia’s experience in successful townships will form a strong and fruitful partnership for such ventures,” Noorul Ameen said.

Qualitas is a regional healthcare operator with more than 20 years of experience to date. It is well established in Malaysia, Singapore and Australia, with a growing presence in the Asia-Pacific region.

Meanwhile, Setia Alam is a multi-award-winning mega freehold township launched in 2004 and is now about 90% developed, with more than 22,000 units handed over.

“The ACC has been identified as one of the place-making elements to boost the Setia Alam township, which has proven to be a well-sustained development for the past two decades. We anticipate emulating the same in other Setia townships and projects in the near future,” added Choong.

Prominent property developer S P Setia Bhd has found the right yet not so costly business to diversify its future revenue stream: to develop and operate an ambulatory care centre (ACC) in the vicinity of its prized township of Setia Alam.

Marking its maiden venture into the subsector of the healthcare industry, the move is very much in line with market trend, according to the group’s president & CEO Datuk Choong Kai Wai.

Yesterday (Feb 9), S P Setia inked an agreement with Qualitas Medical Group Sdn Bhd for the setting up of the said ACC project.

“ACCs are outpatient centres providing a range of comprehensive specialist and surgical services including wellness, diagnosis, treatment and rehabilitation,” explained Choong. “They act as a bridge between full-fledged medical centres and general practice clinics.”

He went on to stress the need for such service in view of the growing ageing population in Malaysia and for such services to be conveniently accessible in established townships that house multi-generational families like Setia Alam.

A recent World Bank report stated that more than 7% of Malaysia’s population was aged 65 and above in 2020. This is projected to double to 14% by 2044, hence making Malaysia an aged society and 20% by 2056 by which it will become a super-aged society.

Fuelled by increasing demand for healthcare services and the emergence of new care models beyond traditional hospital settings, Malaysia’s healthcare market is expected to grow by 127% to RM127.9 bil in 2027 (2017: RM56.3 bil) as the Government pushes ahead with higher public healthcare expenditure, according to Fitch Solutions Macro Research.

S P Setia has identified the first ACC to be established at Setia City Residences which is a three-tower integrated mixed-development that offers residential and commercial components. The facility is connected via a link bridge to Setia City Mall, the largest mall in Shah Alam.

“The group has been exploring new businesses that will complement its strength to vary its income. ACC which requires relatively small capital investment is one such potential identified,” Choong further justified. “Accelerated by the recent pandemic, healthcare services have a strong prospect for now and the future.”

Qualitas’ founder, director and executive chairman Datuk Dr Noorul Ameen Mohamed Ishack said the regional healthcare operator’s expertise in operating and managing outpatient centres coupled with S P Setia’s experience as a township developer will form a strong and fruitful partnership for the ACC venture.

“The location of the ACC is strategic and we foresee that this collaboration will strengthen Qualitas’ offerings in the various areas we are present in currently and beyond,” he added.

Launched in 2004, Setia Alam is a multi-award-winning mega freehold township which is now about 90% developed with more than 22,000 units handed over. It is known for its ample green spaces, eco-friendly features and safe and secure environment.

At the close of yesterday’s (Feb 9) trading, S P Setia was down 1 sen or 0.8% to RM1.24 with 2.13 million shares traded, thus valuing the company at RM5.04 bil. – Feb 10, 2022

SHAH ALAM: S P Setia Bhd menerusi anak syarikatnya Setia HC Ventures Sdn Bhd, memeterai perjanjian dengan Qualitas Medical Group Sdn Bhd, untuk cadangan membangunkan dan mengendalikan pusat jagaan ambulatori (ACC) di Setia Alam, Shah Alam.

Presiden dan Ketua Pegawai Eksekutif S P Setia, Datuk Choong Kai Wai, berkata beliau yakin dengan kejayaan usaha baharu itu, memandangkan penduduk yang semakin tua di Malaysia dan menjadikan keperluan untuk perkhidmatan sedemikian lebih mudah diakses di kawasan perbandaran mapan yang menempatkan keluarga berbilang generasi seperti Setia Alam.

“Ia adalah usaha sulung kumpulan itu dalam bidang penjagaan kesihatan, yang mana menjadi perniagaan yang semakin berkembang, berdasarkan trend pasaran.

“ACC adalah pusat pesakit luar yang menyediakan rangkaian perkhidmatan pakar dan pembedahan yang komprehensif termasuk kesihatan, diagnosis, rawatan dan pemulihan. Mereka bertindak sebagai jambatan antara pusat perubatan yang lengkap dan klinik amalan am,” katanya.

S P Setia telah mengenal pasti ACC pertama yang akan ditubuhkan iaitu di Setia City Residences di Setia Alam, dengan mengambil kira perkembangan sedemikian.

Setia City Residences ialah pembangunan bercampur bersepadu tiga menara yang menawarkan komponen kediaman dan komersial. Ia juga disambungkan melalui jambatan penghubung ke Setia City Mall.

Kumpulan itu juga, katanya, sudah meneroka perniagaan baharu yang akan melengkapkan kekuatan kumpulan untuk merangsang pendapatannya, dan ACC, yang memerlukan pelaburan modal yang agak kecil, adalah satu potensi yang telah dikenal pasti.

“Dipercepatkan oleh pandemik baru-baru ini, perkhidmatan penjagaan kesihatan mempunyai prospek yang kukuh untuk masa kini dan masa depan,” kata Kai Wai.

Township and property developer, S P Setia Berhad through its subsidiary Setia HC Ventures Sdn Bhd enters into an agreement with Qualitas Medical Group Sdn Bhd on the intention to develop and operate an Ambulatory Care Centre in Setia Alam, Shah Alam.

“This is the first venture by the Group into healthcare, which is a growing business, given the market trend,” said Datuk Choong Kai Wai, President & CEO of S P Setia Berhad Group. The ACCs are outpatient centres providing a range of comprehensive specialist and surgical services including wellness, diagnosis, treatment and rehabilitation. They will act as a bridge between full-fledged medical centres and general practice clinics.

S P Setia is looking to tap into the growing ageing population in the country, a recent World Bank report stated that more than 7% of the country’s population was aged 65 and above in 2020. This is projected to double to 14% by 2044, making Malaysia an aged society and 20% by 2056, a super-aged society. Malaysia’s healthcare market is expected to grow by 127% to RM127.9bil in 2027 from RM56.3bil in 2017 as the government pushes ahead with higher public healthcare expenditure, according to Fitch Solutions Macro Research, fuelled by increasing demand for healthcare services and the emergence of new care models beyond traditional hospital settings.

For its centre, the group identified the first ACC to be established at Setia City Residences in Setia Alam, a three-tower integrated mixed-development that has residential and commercial components. It is also connected via a link bridge to Setia City Mall.

This comes as developers have been looking out for new avenues of income after the property market got impacted in the pandemic, while the outlook for the sector looks cautionary, larger developers have been actively diversifying their investment.

On the partnership with Qualitas, it was selected due to its expertise in operating and managing outpatient centres. Qualitas is a regional healthcare operator with more than 20 years of experience. It is well established in Malaysia, Singapore and Australia, with a growing presence in the Asia Pacific region.

SHAH ALAM: S P Setia Bhd through its subsidiary Setia HC Ventures Sdn Bhd, has signed an agreement with Qualitas Medical Group Sdn Bhd intending to develop and operate an ambulatory care centre (ACC) in Setia Alam, Shah Alam.

This is the first venture by the group into healthcare, which is a growing business, given the market trend,” president and CEO Datuk Choong Kai Wai said in a statement.

“ACCs are outpatient centres providing a range of comprehensive specialist and surgical services including wellness, diagnosis, treatment and rehabilitation. They act as a bridge between full-fledged medical centres and general practice clinics,” he added.

S P Setia has identified the first ACC to be established at Setia City Residences in Setia Alam, taking cognisance of such developments.

Setia City Residences is a three-tower integrated mixed-development that offers residential and commercial components. It is also connected via a link bridge to Setia City Mall.

“The group has been exploring new businesses that will complement the group’s strength to vary its income, and ACC, which requires relatively small capital investment, is one such potential identified. Accelerated by the recent pandemic, healthcare services have a strong prospect for now and the future,” Choong said.

Meanwhile, Qualitas founder, director and executive chairman Datuk Dr Noorul Ameen Mohamed Ishack said Qualitas was honoured to be identified by S P Setia as its first partner in its healthcare foray.

“The location of the ACC is strategic, and we foresee that this collaboration will strengthen Qualitas’ offerings in the various areas we are present in currently and beyond.

“Qualitas’ expertise in operating and managing outpatient centres and S P Setia’s experience in successful townships will form a strong and fruitful partnership for such ventures,” he said.