Permodalan Nasional Bhd (PNB) will be organising the Malaysia Unit Trust Week (MSAM) 2024, from Aug 22 to 25, at Setia City Convention Centre (SCCC) here.

PNB Group chairman Raja Tan Sri Arshad Raja Tun Uda said that MSAM 2024, their annual flagship financial literacy carnival held for the past 23 years, is part of their commitment to unit holders for social investment in education, community enhancement, financial literacy, and knowledge-sharing initiatives.

“This year’s MSAM carries the theme “Uplift Your Life at MSAM”, aligning with PNB’s renewed goal to strengthen the financial standing of the people across generations.

“Continuing our initiatives from previous years, financial education and Science, Technology, Engineering, and Mathematics (STEM) will be our focus to inspire young people to pursue knowledge and higher education,” he said in a statement to the media in conjunction with the MSAM corporate partners networking event today (Aug 7).

In addition to the usual financial literacy activities and knowledge-sharing sessions, this year’s event will include programmes such as a music festival, a food carnival (Maybank Islamic MAE-Dan Selera), and an auto festival.

Raja Arshad said 50 exhibitors, including companies from the PNB Group, Amanah Saham Nasional Bhd’s (ASNB) agents, regulatory bodies, and state government agencies will be showcasing investment education activities and exhibitions at MSAM 2024.

Additionally, MSAM 2024 will offer visitors prizes worth approximately RM1 million, including a serviced apartment and a BYD Dolphin electric vehicle.

PNB also announced its premier partners for MSAM 2024, which are Malayan Banking Bhd (Maybank), SD Guthrie Bhd, Sime Darby Bhd, and S P Setia Bhd.

Sime Darby Property Bhd, Perusahaan Otomobil Kedua Sdn Bhd (Perodua), and MNRB Holdings Bhd are the main partners.

Duopharma Biotech Bhd and Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) are categorised as partners.

For more information, visit https://www.pnb.com.my/msam/ or follow them on Instagram: @minggusahamdigital and on Facebook at “Minggu Saham Amanah Malaysia”. — BERNAMA

As we stroll through Essex Gardens, the first phase of the Setia Eco Templer township in Rawang, Selangor, it is clear that this is a close-knit community. Management corporation (MC) chairman C K Lee and Laurelcap Property Management Sdn Bhd associate director Ho Hon Chiap often stop during our walk to greet and chat with the residents. There is a sense of ease in their interactions, one that is not easy to come by these days.

“I always tell Ho that if everyone smiles upon seeing you, it means you are doing a good job,” Lee says. “Indeed, our [the MC’s] relationship with the MO (management office) is very close. We are helping, supporting and facilitating each other to work towards the same goal — to make Essex Gardens the top place to stay in this part of the Klang Valley.

Ho says: “All 11 MC committees have been really, really supportive in helping us carry out day-to-day and mid- to long-term management plans for such a unique project here. They are also the most committed MC and most close-knit community that I have ever worked with.

“But having said that, the stress is also there, as the residents really care about the community. Every day, we receive messages and photos from the residents about different things — maybe debris in the pond or some street light not working. Every one of them is concerned about the community, and they sincerely want this little paradise they call home to stay as it is now and in the future.”

Away from the hustle and bustle of city life, the picturesque Setia Eco Templer is a one-of-a-kind landed residential development, as it is adjacent to the majestic Bukit Takun, Templer’s Park and Kanching Eco-Forest Park. With nine natural creeks and a river from the forest running through Essex Gardens, it is an oasis for nature lovers.

“The residents of Essex Gardens are nature lovers, which is why we share the same goal of keeping the place as original as possible — hence the high expectations in property management,” Lee says.

The 194-acre Setia Eco Templer was developed by S P Setia Bhd (KL:SPSETIA), and built around the natural terrain, hence the low density. Essex Gardens comprises only 234 houses on a 45.32-acre tract, which translates into roughly five houses per acre.

“If we do some mathematics here, there is only one unit for every 8,000 sq ft. The average land size per unit is 3,000 sq ft, so that means that some 25,000 sq ft in an acre is common area. Now, you can imagine the work involved in the upkeep of the place, especially the landscape — as the trees, plants, creeks and river are all natural, even the drain is natural. Most importantly, they represent Essex Gardens. Without these natural features, the project is no longer unique,” Lee says.

S P Setia president and CEO Datuk Choong Kai Wai, Lee and Laurelcap Property Management (Sel) Sdn Bhd director Jerry Lee (third to fifth from left) with (from left) The Edge Malaysia editor emeritus and the awards’ chief judge Au Foong Yee, The Edge Media Group publisher and group CEO Datuk Ho Kay Tat, The Edge Malaysia editor-in-chief Kathy Fong and City & Country senior editor E Jacqui Chan (Photo by Suhaimi Yusuf/The Edge)

Common goal

A community that shares a goal is the key to success for this development. It achieved a 96.85% collection rate in 2023, despite the 11% increase in maintenance fees from RM2.25 per share unit to RM2.50 in October 2023.

“It was the first revision since the project’s VP (vacant possession) in 2019. It was a necessary move because, from 2022 to 2023, our account was in deficit, which caused some maintenance work to be deferred because of budget constraints. With the increase in maintenance fee, major maintenance and upgrading works have been carried out over the past few months, such as repainting works and replacement of the solar bollard lights,” says Lee.

Coming up with a plan and budget for monthly and long-term maintenance work was the first priority when Laurelcap was appointed property manager for Essex Gardens two years ago.

“The project was not in its best condition when we first took over. But we can’t blame the previous MO. It was mainly due to the lockdowns. At that time, there were many restrictions on carrying out maintenance and upkeep work. Do not forget that the common areas of Essex Gardens required extra daily attention, such as tree pruning and trimming, and creek and river cleaning and maintenance,” Ho explains.

The blurred line between wear and tear and defects also contributed to the delay in maintenance work, he adds. “It is a one-of-a-kind project with so many natural elements. There was some debate and discussion on which falls under wear and tear, and which one is a defect that needs to be rectified.”

Lee says the rising cost of property management also contributed to the project’s falling into “bad shape”. “Therefore, raising the maintenance fees is a must and the proposed rate is reasonable. The agenda was quickly approved by the residents because our wish is to get the place back in shape as soon as possible.”

Thanks to the determination of residents and the property management team, Essex Gardens has successfully regained its former prestige. This achievement culminated in its emergence as a Gold winner in the Below 10 Years — Multiple-owned Strata Residential category at The Edge Malaysia Best Managed & Sustainable Awards 2024 (BMSPA 2024).

Art of communication

A key performance index that was given to the property management team by the MC was “befriend and get close” to all the proprietors, says Lee.

“As a property investor myself, I understand how important a responsible and responsive MO is to property value creation. Listening to the residents, hearing them out, communicating with them, and building good relationships are secrets of efficient property management,” Lee says. “However, we do not encourage the MO to go beyond its boundaries to attend to some unreasonable request. Anything beyond its responsibility, the MC will step in to help. It is also our responsibility as part of the MC, to be the mediator between the MO, resident and developer.”

Lee adds that maintaining a good relationship with the developer is vital for future advisory on the project’s related matters.

“The developer is resourceful. It is the designer and builder of the project and it has the experience and expertise in handling emergencies when something beyond the MC and MO’s capabilities happens. For example, a minor landslide happened in Essex Gardens in 2022, when the Klang Valley experienced abnormal rainfall, which caused several flash floods here and there. The developer took the initiative to restore the site at its own cost,” he recalls.

The developer has also agreed to spend RM2.1 million to set up 1.2km of perimeter fencing with CCTV, motion sensors and spotlights between the houses and a public river, whose section that is within the gated community is currently closed to the public.

“The authority has issued a statement [to open up the river]; so, it is something that is happening soon. Once it happens, outsiders will be able to access Essex Gardens freely from upstream.

“Thus, the fencing is important, direct access to a natural running river was one of the biggest selling points of Essex Gardens, which was a problem to solve. As much as we want the place to stay as it is, we cannot oppose the local authority’s decision, as it is true that the river is public and it is not part of the compound, and we are made aware of it. We want the beauty, but security is paramount. And we are very grateful that S P Setia was willing to build it for us at its own cost after some meetings and discussions,” Lee says.

He adds that it is also a result of the good relationship that the MC and residents have maintained with the developer over the years.

Apart from the perimeter fencing, the MC is also looking to upgrade the development’s campsite with new a toilet and washing area, as well as build a futsal court and a floating event space on the two-acre lake.

“We have a playground and open field, but we do not have a futsal area for active residents. We also lack a multipurpose hall or an event space to organise community activities or private parties. Our lake on the south is farther away from the housing area, surrounded by forest, making it an ideal location for an event space. We are thinking of a floating platform on the lake that can hold about 150 people, just nice for a small wedding or community yoga or exercise space,” Lee says.

Asked about the importance of strong community and professional property management, Lee says both parties are crucial in sustaining a development.

“We (MC members and property manager) will not stay in our positions forever. Apart from restoring and maintaining this place to its original shape as much as possible, and continuing to enhance it, our main task is also to refine the SOPs and set a benchmark for management. This will ensure that in the future, no matter who takes over our current role, there will be a clear guideline and expectations to meet. It is also one of the key reasons for us to participate in BMSPA 2024.”

S P Setia Bhd celebrated its 50th anniversary today with a revitalised commitment to continue crafting spaces that cater to what the community and market needs.

Themed “Shaping Spaces That Shape Us All”, its chief executive officer Datuk Choong Kai Wai said the group has pioneered lively communities, driven by its “LiveLearnWorkPlay” philosophy for the last five decades.

“Today we reaffirm our commitment to these values, aiming to inspire and create spaces that resonate with beauty and purpose,” he said during the group’s Golden Jubilee celebration here today.

Choong also said the group will continue emphasising the importance of sustainability through its various initiatives, like Setia’s eGreen Living and Green Switch.

Meanwhile in conjunction with the group’s 50th anniversary celebration, a fresh approach was adopted for its brand.

This was seen through its four life-size cubics that will serve as an interactive space for the public.

Members of the public will be able to experienced arts and craft activities, ESG workshops, various competitions while enjoying a lineup of musical talents performances on July 21, 2024.

S P Setia Foundation, the charity arm of S P Setia Bhd, held its Sincerely, Setia Special Celebration World Environment Day 2024 recently at Setia EcoHill with students from Setia-adopted schools.

Up to 60 students from Sekolah Kebangsaan Semenyih, Sekolah Jenis Kebangsaan (Cina) Kampung Baru Semenyih, Sekolah Kebangsaan Bukit Tampoi and Sekolah Jenis Kebangsaan (Tamil) Ladang Rinching attended the fun and educational event.

“Since 2000, we are constantly looking for ways to reinvent our sustainable and social responsibility, and to drive positive change, and through this event – with our collaboration with the stakeholders — we hope the students have gain an enlightening educational session in sustainability,” said Setia Foundation’s management committee and Setia’s senior executive vice president Datuk Yuslina Mohd Yunus at the event.

Setia Foundation’s management committee and Setia’s GM of group brand marketing and communications Adelene Wong said: “We have championed our initiatives to align with the United Nations Sustainable Development Goals (UNSDGs), guided by our Trust Deeds. This is an important platform for us to further spearhead our sustainability efforts, especially for adopted school students under our Setia Caring School Programme.”

“We are grateful that this event is supported and sponsored by our valued sponsors to enhance the students’ overall experience, and to impart immeasurable lessons in sustainability,” she added.

Activities for the day were organised by Me Books, a children’s book publisher, with support from ACE Education Group. Ivan Se Hoo Kien Weng, principal of Dwi Emas International School under the ACE Education Group, together with a few teachers led the breakout group in the activities which included water densities and eco-painting, filtration experiments, a storytelling session, creation of posters and canvas momentos, with plenty of goodie bag giveaways.

S P Setia Bhd has completed the sale of its 388.38 hectare land parcel in Tebrau, Johor to Senibong Island Sdn Bhd for RM564 million.

The transaction was conducted through its subsidiary, Pelangi Sdn Bhd.

S P Setia had tried to sell the land twice before to Scientex Bhd, the deals however were blocked by the Economic Planning Unit.

S P Setia said by unlocking the value of this asset, the company said the deal enhanced its financial standing, contributing to an expected profit after tax of RM332 million.

President and chief executive officer Datuk Choong Kai Wai said the transaction complemented the company’s de-gearing efforts, which are happening according to plan and shall contribute to its future growth.

“By efficiently managing our capital structure, channelling resources into fast-developing projects, rationalising our cost structure, and directly boosting our bottom line, Setia is better positioned for expansion and long-term sustainability,” he said in a statement.

In tandem with this, Setia continued to direct its efforts into other revenue streams via landbank management, making its mark in industrial development and continuing with regional expansion in Vietnam and Australia to broaden its income base.

Setia has also commenced pre-initial public offering preparatory work to explore the establishment of a Real Estate Investment Trust (REIT).

“Our strategy to realise the values of our identified land assets has brought us one step closer to an even stronger financial state and supports our efforts to diversify our income base.

“We remain committed to our ethos of excellence and innovation, driving growth while delivering superior value to our stakeholders,” added Choong.

S P Setia Bhd has been presented the Heritage Award of the FIABCI World Prix D’Excellence Awards 2024 in Singapore on May 30 for Battersea Power Station.

S P Setia was part of the Malaysian consortium along with Sime Darby Property Bhd, Employees Provident Fund and Permodalan Nasional Bhd that gave new life to the London landmark.

“We are really honoured to receive this recognition for breathing new life into this iconic London landmark. It is all about how we have managed to preserve its history, façade and old charm while bringing in newness in our offerings, retail mix in the development. This award drives us to continue to push our boundaries in the foreign market,” said S P Setia CEO and president Datuk Choong Kai Wai.

The group also received certificates from the Ministry of Housing and Local Government (KPKT) at their awards excellence ceremony to celebrate the gold award winners of the FIABCI World Prix D’Excellence Awards 2024 in Putrajaya on June 7.

S P Setia chief operating officer Datuk Zaini Yusoff, who was present at the ceremony, said the recognition of the gold awards by KPKT encompassed the company’s previous wins from their developments.

To date, S P Setia holds the world record for the highest number of gold award wins across the globe, with a total of 17 FIABCI World Gold Prix d’Excellence Awards.

Poised to be London’s next bustling hub and destination, the fresh Battersea Power Station has a gross development value (GDV) of an estimated £9 billion (RM52 billion) and was purchased by its current shareholders in 2012.

It comprises 42 acres of prime land and real estate in London, which includes a 3.5 million sq ft of mixed use commercial space, 4,000 residences and hotel, the 164-room art’otel London Battersea Power Station.

“The regeneration development is a testament to Setia’s (and its respective shareholders’) dedication in championing sustainability. Its values resonate with Setia’s commitment to environmental and social responsibility, which are parallel with the group’s vision to be one of the leaders in creating sustainable communities,” stated the developer in a media release.

SHAH ALAM (May 30): S P Setia Bhd (KL:SPSETIA) on Thursday announced a partnership with China’s Ant Digital Technologies and JaGaSolution to establish a smart community app — Setia Go, to enhance property management quality and improve community engagement for its homebuyers.

S P Setia has collaborated with Singapore-based tech consultant StartupX to introduce its first cohort of startups on the app: Kiddocare (on-demand childcare platform); SOLS Energy (home solar programme); Oyen Insurance (pet insurance); Handibee (home warranty programme); BlueDuck (rental solutions); and GrabMaid (on-demand maid service).

Comprising various startups, the Setia Go app aims to redefine property management and improve community engagement, while offering a seamless and integrated experience for Setia homebuyers.

In his opening address, S P Setia president and CEO Datuk Choong Kai Wai said: “Setia Go illustrates our commitment in the National Technology and Innovation Sandbox initiative by Mosti (Ministry of Science, Technology and Innovation). And it’s part of our bid to champion emerging technologies and services across our platforms. I’m confident our partnership with Ant Digital Technologies and JaGaSolution will open more doors for stakeholders to collaborate in the future and introduce the latest innovations.”

Meanwhile, Ant Digital Technologies general manager of international business Derrick Loi told the press that the Setia Go app is also about establishing trust when businesses and consumers connect in a digital domain hence, the company has upgraded the app to create a seamless experience by having the right mix of partners for a curated user experience.

Loi also revealed that the next phases of app development will focus on integrating green and sustainable energy capabilities.

S P Setia Bhd achieved a total of RM1.42bil in sales in the first quarter ended March 31, 2024, on track to meeting its sales target of RM4.4bil in 2024.

In a statement, the property developer said the sales contributions were mainly from the southern and central regions in Malaysia.

S P Setia registered a net profit of RM77.33mil in 1QFY24 as compared to RM55.45mil in the same quarter in 2023, representing an earnings per share of 0.56 sen against 0.36 sen.

Revenue during the quarter under review was RM1.48bil, up from RM967.67mil.

S P Setia president and CEO Datuk Choong Kai Wai said the group experienced growth across its domestic and international markets despite the challenging global business environment.

“Our first-quarter results is a testament to the robustness of our business model and the success of our strategic market expansions. We’ve seen growth across the board, and while we’re looking ahead with positivity, we’re conscious of the need to maintain a steady hand on the tiller,” he said.

According to Choong, the group’s property development segment achieved pre-tax profit of RM180.8mil in 1QFY24, a 38.6% increase from the previous corresponding quarter.

This was driven by higher gross profit as the group benefited from higher contribution from its Eco Xuan development project in Vietnam, supported by landbank management and higher contribution from domestic property development.

Choong said the group’s investment properties and hotels also contributed higher profit during the quarter, compared to the loss-making performance in the previous year.

He noted also that project completions, especially within Australia, have been particularly successful due to the group’s diversified approach.

In 1QFY24, the group launched new projects with a combined gross development value of RM146.2mil.

RHB Retail Research said S P Setia Bhd is poised to resume its uptrend after climbing above the 21-day simple moving average (SMA) line, while eyeing a spot above the RM1.50 threshold on Monday.

In a trading stocks note on Tuesday, the research house said if the stock breaches that point, the bullish bias above that level may drive the stock higher towards the RM1.60 resistance, followed by RM1.70.

“However, breaching below the RM1.40 support would reverse the momentum, as it would then be trading below the SMA and forming a ‘lower low’ bearish structure,” it said.

Property developer SP Setia Bhd has launched Nadi 2 at Setia Commerce Square at Setia EcoHill 2 township in Semenyih. Nadi 2, the second phase of the Nadi commercial development, which as a whole comprises 212 shop offices, 12 semi-detached shops, multiple sizes of enterprise lands and petrol station lands.

The launch has followed the momentum of success of the previous phase of Nadi, consisting 86 units of shops and is fully sold.  Nadi 2 offers three types of properties. Its 36 intermediate double-storey terrace shops with built-ups of 3,585 sq ft and land sizes measuring 26 ft by 75 ft each, comes at a tentative price of RM1.49mil onwards.

It also has eight units of three-storey corner shops with built-ups of 8,202 sq ft, land sizes of 42 ft by 75 ft each, and starts at the tentative price of RM3.28mil. Lastly, there are six semi-detached shops with built-ups of 5,422 sq ft and land sizes of 70 ft by 175 ft each, offered at an estimated price of RM3.58mil onwards.

Nadi offers distinctive, wide frontage and open layouts for easy business configuration, targeting businesses from F&B, retail, and the service industry such as restaurants, clinics, mini supermarkets, car showrooms, convenience stores, boutique café and educational centres to support the rapid growth and development of this self-contained township.

Situated at the heart of the 1,010-acre Setia EcoHill 2 township and surrounded by matured townships such as Eco Majestic, Beranang, Pelangi Semenyih 2, Mahkota Hill, Kesuma Lakes, Nadi 2 will form part of the Setia Commerce Square commercial precinct with a neighbouring commercial area, making it one of the largest commercial districts in the region.