The property submarket known as KL prime fringe is formed by the triangulation of the affluent Damansara Heights in the north, cosmopolitan Bangsar in the centre and south, and transportation hub KL Sentral in the east. This area, located on the fringe of the Kuala Lumpur central business district, has rapidly emerged as the choice location for office space; a consequence of better access, upgraded road and rail connectivity and a proliferation of facilities and amenities to support the business communities and office crowds, says Knight Frank Malaysia’s Executive Director of Corporate Services, Teh Young Khean. “Geographically, these prime fringe areas have the double benefit of being within reasonable commute to KL city and major satellite cities in the Klang Valley, with access to a deep talent pool.”

Now, an upcoming landmark is poised to capture the attentions of businesses looking out for an office in this area dubbed as Kuala Lumpur’s new golden triangle, to better serve their needs in a post-Covid world with “cost optimisation and cost savings foremost on the minds of corporate real estate planners,” Teh says. The 42-storey Aspire Tower rises as the gleaming jewel in S P Setia’s KL Eco City, and is scheduled for completion in the second quarter of 2022. A Grade-A stratified office, Aspire Tower presents a rare opportunity for entrepreneurs and owner-occupants to purchase their own office in a part of Kuala Lumpur made most desirable by its location, proximity to established living precincts and a tempting view of capital gains by virtue of its prestigious business address on Jalan Bangsar and within a short stroll by pedestrian link bridge to Mid Valley City.

The KL Eco City development taps on the potential of this emerging new commercial hub within KL Fringe which has since attracted high-profile tenants from professional services, consumer electronics and new tech such as Samsung Malaysia Electronics,Zurich Malaysia, F-Secure, Gibraltar BSN Life Berhad , Phillip Wain Malaysia, WeWork, Shopee, Klook, J&T Express, Veolia Water. Situated within KL’s new golden triangle, KL Eco City leverages on its highly strategic location by creating new standards in accessibility, design and architecture, functionality as well as rental rates.

This 25-acre mixed-use and transit-oriented KL Eco City development is conceived as a city-within-a-city, anchored by commercial offices, luxury residential tower, lifestyle retail outlets and a four-star hotel which will be flagged under the Thai-originated Amari chain.  As winner of 2019 FIABCI Malaysia Property Awards (Office Category) and World Gold Winner of 2020 FIABCI World Prix d’Excellence Awards (Office Category), KL Eco City is a game-changer for the astute businessmen and investors.

Knight Frank Malaysia’s Executive Director of Capital Markets James Buckley states: “The strata market remains dominated by owner-occupiers who are usually small to medium business owners looking to pay down their own asset rather than paying off someone else’s. With the cost of borrowing at historic lows, these buyers, together with investors are looking for value and developments, such as KL Eco City, which have good amenities within well-integrated locations – those within close proximity to MRT/LRT stations are especially highly sought after.”

Buckley notes that transaction volumes in 2020 were almost at a standstill due to the lock down restrictions and the few that transacted would indicate prices have softened about 10 and 15 per cent. “In the fourth quarter of 2020, occupancy in KL City was 68.7 per cent whilst in KL Fringe, it was 85.7 per cent,” Buckley says, adding, “in general, KL City is dominated by the finance, oil and gas sectors, whilst there is a much broader tenant mix in KL Fringe who favour the improving connectivity, lower rents and good amenities.”

From left: YY Lau, JLL Property Services’ Country Head, Teh Young Khean, Executive Director of Corporate                                                                                                  Services at Knight Frank Malaysia and James Buckley, Executive Director of Capital Markets at Knight Frank Malaysia.

Naturally, interconnectivity is a key attraction for KL Eco City, with over RM200 million invested in six new ramps and bridges offering multiple ingress and egress onto its prime address of Jalan Bangsar. The entire project is served by a unique internal road system for smoother incoming and outgoing traffic flow. The upper tier lends support to the ground tier during peak hours; ingress can happen at the upper tier with egress through the lower tier, which doubles up the capacity to cater for traffic flow into and out of the development. The upper tier doubles as a passenger drop-off area and lower tier caters for service and delivery vehicles.

Located at the core of Kuala Lumpur’s major transport links, KL Eco City offers superiors public transportation through its LRT-KTM integrated rail hub comprising the existing Abdullah Hukum LRT Station which is linked to the new KTM Komuter Station. A pedestrian link bridge to Mid Valley City also provide easy access to The Gardens/Mid Valley Megamall extending the retail and lifestyle options.

Aspire Tower is the tallest and finest office tower in the heart of the KL Eco City development. As a landmark building, the name ‘Aspire Tower’ reflects the ambitions and aspirations of the people that work and invest within the development – the tower’s name is a call to action, encouraging Malaysian leaders, executives, entrepreneurs and business owners to keep ‘looking up’ and to continue to achieve their dreams. It also aims to cement the status of global corporations by upholding the greatest standard in the integration of flexible workspace, leisure and interconnectivity. Intelligently designed to engender creativity and collaboration between businesses, Aspire Tower aims to establish a dynamic corporate community.

The tower’s highest floor will host a sky dining and lounge concept, commanding views of the surroundings from the leafy enclaves of Bangsar/ Pantai and even the Petronas Twin Towers. Just below are various office configurations, with Executive office starting from 1,152 sq ft up to the en-floor Premier Office which covers 18,690 sq ft on higher floors.

Aspire Tower elevates productivity to new heights by offering a range of service premises advancing a lifestyle element beyond the conventional 9-to-5. Service premises which include wellness facilities adjoining with a swimming pool, sky dining and business centre are available for outright purchase by companies. This corporate office tower will be served by 16 elevators whisking its occupants to either the low zone or high zone via two independent lift lobbies. Proprietors at Aspire Tower can enjoy the unique benefit of owning car parking spaces where a purchase of selected office space within the tower entitles you to your very own private parking bays for absolute convenience. Each parking space transforms a significant cost outlay into an investment and an asset.

“The advent of the virus has caused organisations to re-evaluate not just where but how they work,” Teh observes. “Beyond an adoption of flexi-hours depending on the nature of work, there is also a demand for essential office facilities, for example, dedicated space for staff collaboration, sense of work, training, recruitment, meetings, support and other such services. We foresee that organisations which have adopted the hybrid working model may find this a beneficial model going forward.”

Aspire Tower possesses a great degree of modularity for its owners, with the flexibility to adapt its various unit sizes. For those looking to downsize in an era where flexi-working and WFH has become the norm, S P Setia’s tailored offerings feels like a comprehensive solution without the need for extended leasing negotiations. The building and development’s extended service premises also means that proprietors, occupants and the community can enjoy the holistic “workstyle” promoted by S P Setia, redefining the workplace and working culture.  Aspire Tower offers a range of lifestyle options to stimulate productivity workplace satisfaction and ultimately, talent retention in the millennial era while uniquely set up to cater for different enterprises.

A fairly limited pipeline of office spaces in the KL prime fringe has also increased the desirability of new office space in an area which has seen rising rental yield with tech, service providers and business process outsourcing firms decamping to newer developments on the city fringe from ageing Kuala Lumpur properties, of which an estimated 70 per cent are 15 years and more. JLL Property Services’ Country Head YY Lau points out: “newer stocks in the KL fringe which usually are part of master-planned integrated developments also means prestige for companies who require brand visibility, ease of access to F&B, hotels and residential options for employees.”

“The Covid-19 National Vaccination Plan which is expected to be rolled out in stages may help to lift economic sentiment,” Teh says. “We anticipate that the office market will gain some momentum by end 2021 or early 2022 as pent-up demand will galvanize companies to explore the market especially those who are presently adopting a wait-and-see approach. Well maintained MSC buildings within transit-oriented developments will continue to be in demand.”

KUALA LUMPUR (Feb 25): S P Setia Bhd has recorded sales of RM3.82 billion in the financial year ended Dec 31, 2020 (FY2020), surpassing the group’s target sales of RM3.8 billion.

In a media statement today, S P Setia said against the backdrop of this noteworthy accomplishment and complemented by a revenue of RM3.23 billion achieved by the group, impairment provisions of RM475.9 million made in the previous second and third quarters of FY2020 nevertheless resulted in the group registering a loss before tax of RM156.7 million for the year in review.

The provisions, largely for the impairment of the work in progress and inventories under construction of £62.4 million (RM336.3 million) arising from the Group’s 40% owned joint venture company, Battersea Project Holding Company Ltd, the United Kingdom (BPHC) in the third quarter FY2020, were made as a prudent measure and had no impact on the group’s cash flow position.

Excluding these impairment provisions, the Group would have a profit before tax of RM319.2 million for the year in review, said the statement.

S P Setia Bhd president and CEO Datuk Khor Chap Jen (pictured) said the group has recorded a significant surge of RM1.56 billion in sales and a substantial RM1.45 billion of bookings in the pipeline during the last quarter of FY2020 against the backdrop of a resurgence in Covid-19 cases and subsequent re-implementation of the movement control order (MCO).

Local projects contributed RM3.11 billion or approximately 81% of the sales while the remaining RM716.0 million or approximately 19% were contributed largely by international projects.

On the local front, sales were mainly from the Central region with RM2.28 billion, aided by RM312.0 million contribution from the Northern region while the Southern region contributed RM415.0 million.

“We managed to clear RM695 million of completed inventories in FY2020 and will continue to do so in FY2021. Riding on the upsurge in sales momentum during Q4FY2020, S P Setia will maintain its sales target of RM3.80 billion for FY2021. There are positive sentiments and optimism arising from the mass vaccination programme, which will be rolled out in stages globally and across Malaysia,” said Khor.

As of Dec 31, 2020, S P Setia has 48 on-going projects, with an effective remaining landbank of 8,528 acres valued at a gross development value of RM136.87 billion and total unbilled sales of RM10.05 billion which will sustain the Group over the next two years.

THIS year, SP Setia Bhd extends its lunar new year greetings with a meaningful message.

In its festive video titled Different Traditions, Same Celebration, the developer has embraced the diversity in Chinese New Year celebrations.

The heartwarming video, inspired by the different Chinese dialect groups in Malaysia, depicts the unique celebrations of the respective communities.

It seeks to convey the message that despite the nuances of each dialect, all communities share one common aim – to make it a celebration of new beginnings, prosperity and abundance.

From Cantonese, Hainanese and Hokkien to Foochow, Teochew and Hakka, the traditions and customs of each group are vividly captured, furnishing the video with educational value.

Transcending the differences are the values celebrated by all families – happiness, sense of togetherness, and hope for a better tomorrow.

With that, SP Setia wishes everyone an auspicious, joyous and prosperous Lunar New Year.

Watch the video at www.youtube.com/watch?v=b1U3V7sPSd0&t=1s

SETIA ALAM (Feb 2): S P Setia Bhd CEO Datuk Khor Chap Jen and deputy president and COO Datuk Wong Tuck Wai will be retiring by the end of September 2021, the company has appointed Datuk Choong Kai Wai to succeed Khor and Datuk Koe Peng Kang to succeed Wong effective Oct 1, 2021.

In a media statement today, SP Setia has announced the succession plan which is part of the company’s leadership talent agenda, implemented based on the robust leadership discussions within the company.

“I have full confidence that Choong will continue to provide great leadership, given his breadth of leadership and business experience both in the domestic and international market. He will build on the current foundational success of S P Setia and continue to build organisational capabilities to carry on the good momentum set by Khor,” S P Setia chairman Tan Sri Datuk Seri Syed Anwar Jamalullail said in the media statement.

Khor was appointed the acting CEO on Jan 1, 2015 and subsequently, took on the CEO position on April 1, 2016, with a clear mandate to reposition S P Setia to a market leadership position. His leadership has seen many awards achieved by the company and team Setia, ranging from the coveted awards of being the World Gold recipient of five FIABCI Prix d’Excellence Award to many others. He was also instrumental in the successful completion of the integration process following the acquisition of I & P Group Sdn Bhd by S P Setia in 2017.

Meanwhile, Choong comes with more than 30 years of experience in the property and construction industry with experiences ranging from technical to business leadership roles. He holds a BSc (Hons) Mechanical Engineering from The City University London and is currently the Executive Vice President of S P Setia leading the Australian market.

Choong joined S P Setia in May 2010 as the CEO of Setia (Melbourne) Development Pty Ltd and has since grown S P Setia’s business in Australia and positioned the brand name of Setia very strongly within the Australian Property market, known for quality design and precision in on-time delivery.

Choong will be supported by Koe, who graduated with a BSc (Hons) Civil Engineering from the University of Leeds and completed his MSc in Construction Management from the University of Birmingham. He has been in S P Setia since 1997 and has been directly involved in the development of the Eco Series for the S P Setia Group.

Koe will carry on the operational excellence of S P Setia from Datuk Wong Tuck Wai, who was appointed the acting COO on Jan 1, 2015 and COO on April 1, 2016.

“The board of directors, management and staff of S P Setia look forward to working closely with Choong in his new role as CEO. His international experience will add on new perspectives to growing our business beyond the Malaysian shores as we look at diversifying and expanding S P Setia into a global business player, complementing the current regional and global investments.

The rich combination of both the experiences of Choong and Koe will present S P Setia with the right opportunity to take the group to greater heights,” said Syed Anwar.

S P Setia Bhd’s Setia Alam township, which spans 4,000 acres, has come a long way since it was established in 2004. After selling off part of the former oil palm plantation, S P Setia was left with 2,525 acres, of which about 80% has been developed, says divisional general manager Tan Siow Chung, who has been involved in the Setia Alam development since the beginning.

Setia Alam is easily accessible via various highways and expressways such as the New Klang Valley Expressway, Federal Highway, the upcoming Damansara-Shah Alam Elevated Expressway and West Coast Expressway.

In an interview with City & Country over Zoom, Tan relates how the township has grown over the years, based on the four pillars of Live, Learn, Work and Play.

Under the Live element, there are various residential types for all income groups. Under Learn, there are international schools such as Tenby International School, Idrissi International School and Peninsular International School, and national schools SMK Setia Alam, SK Setia Alam, SJK (C) Pin Hwa 1 and SJK (T) Ladang North Hummock.

Under the Work pillar, several top companies are setting up their head offices in Setia Alam. They include latex glove manufacturer Kossan; car companies such as Audi, BMW, Honda, Mercedes and Toyota; the National Institute of Health and S P Setia itself.

For Play, there are numerous parks and amenities such as the Urban Park, Setia Alam Pasar Malam or night market, and Setia City Mall. Phase 2 of the mall has been completed and it will open in 1Q2021.

According to Tan, these elements have enhanced the popularity of the township. The current population is 80,000 and it is estimated to grow to 170,000 when everything is completed. The latest products at Setia Alam are 2-storey semi-detached houses called Leegeana and 2-storey terraced houses called Conicus in the Bywater Homes precinct.

Tan: In Setia Alam, we are in touch with nature, so we have to get our product names from nature (Photo by S P Setia)

New homes for purchase

The 80-acre Bywater Homes precinct features homes and elements that encourage residents to spend time outdoors. After a soft launch in 2019, S P Setia launched two phases of terraced and semi-detached houses. The third phase was launched in October 2020 (Conicus) and November 2020 (Leegeana).

Leegeana comprises 52 units of 2-storey semi-detached houses measuring 32ft by 75ft. Type E has a built-up of 2,463 sq ft and a starting price of RM1.065 million while Type F has a built-up from 2,530 sq ft and a starting price of RM1.093 million. The units have a bedroom on the lower level that is ideal for elderly parents. All bedrooms have attached bathrooms. Leegeana has a gross development value (GDV) of RM57 million.

Conicus, meanwhile, has a GDV of RM59 million. There are 75 units of 20ft by 70ft 2-storey terraced houses for purchase. Type E has a built-up of 2,006 to 2,364 sq ft and a starting price of RM753,000 while Type F has a built-up of 1,902 to 2,216 sq ft and a starting price of RM723,000. There is also a ground floor bedroom while all bedrooms will have an attached bathroom.

Tan says because of the successful take-up of previous launches in the precinct of between 90% and 98%, he is confident that the new products will do well, even in the current market conditions.

“There is demand,” he says. “The previous two phases have almost sold out and there is a waiting list for the next launch.

“[Bywater Homes] will be the last parcel in the northern part of the Setia Alam development. What makes Bywater Homes so special is that it is sandwiched between beautiful landscaped areas, waterways and a lake.”

The water elements include the Wetlands Park, which covers 24 acres of the total precinct area, and a stretch of water along the side of the development facing Persiaran Setia Perdana where Gardens of the World is situated. This landscaped tract will incorporate elements inspired by parks and gardens in America, Europe and Asia.

Sandwiching the residential components is the Active Park, which will have a recreational area.

The Conicus Type E houses look like semidees as neighbouring houses have different designs (Photo by S P Setia)

“We noticed that throughout the Setia Alam developments, all the parks are mainly for leisure and there is exercise equipment installed. We realised that there is a lack of amenities for teenagers. Teens like biking, skateboarding and other active sports. These elements will be included in Active Park,” adds Tan.

The name Bywater Homes is derived from the location of the homes by the water. The names of the different products in the precinct, meanwhile, are based on elements of nature.

“In Setia Alam, we are in touch with nature, so we have to get our product names from nature. And the best is to look for botanical names,” he explains.

According to Datuk Siders Sittampalam, managing director of PPC International Sdn Bhd, “Setia Alam is a relatively new and well-planned township with a wide array of amenities and good accessibility.”

He believes it has potential for value appreciation owing to its low density and freehold title, as well as its well-thought-out layout.

“Since the first phase of Setia Alam was launched, the pricing and sales volume of the properties have grown positively.”

Based on PPC International’s research data, houses that are similar in size to those in the third phase, with built-ups of 1,959 sq ft and land area of 1,650 sq ft, were transacted at around RM428,000 in 2009 and RM670,000 in 2020.

“This value appreciation can be attributed to the [fact that it is a] well-planned and self-contained township as it provides good facilities and amenities served by a good network of roads. We believe Setia Alam has enormous potential for value creation in the years to come,” Siders states.

Future of Setia Alam

Setia Alam will soon have its own specialist hospital.

“This is the missing piece in our township,” says Tan. Over two acres, or 90,900 sq ft, of land was sold to and will be developed by Setia Alam Specialist Hospital Sdn Bhd, a wholly-owned subsidiary of Sena Healthcare Services Sdn Bhd.

The hospital will have nine storeys and two basement levels. It will have 131 beds, four operation theatres, a cath lab and 22 specialist clinics. The gross floor area is about 393,000 sq ft.

About a 10-minute drive from Bywater Homes is another amenity — a wet market called Pasar Muhibbah. Tan says it was built by S P Setia and will be operated by the local council. The market will provide residents with an alternative location to buy their fresh produce and daily necessities.

Tan estimates the township will be completed by 2030. S P Setia already has plans to develop a 400-acre parcel not far from Setia Alam called Setia Alaman, just across from Jalan Meru.

“We will replicate Setia Alam’s template there and we will launch some time at the end of this year,” he concludes.

Setia Sky Seputeh is the definition of luxury resort living in the heart of Kuala Lumpur.

Inspired by the chic heritage of the quaint neighbourhood of Taman Seputeh, Setia Sky Seputeh is the epitome of freehold luxury resort living located right in the heart of Kuala Lumpur. Promising a lifestyle beyond bespoke, Setia Sky Seputeh prides itself as a modern legacy for generations to come. And with a surge in demands for luxury freehold properties within the city centre, especially amongst urban dwellers, Setia Sky Seputeh offers more than just resort living but a place one would be proud to call home.

The property, developed on 4.4 acres of prime land in Taman Seputeh, is a well-facilitated low-density development features two towers of residences comprising only 290 units, four to six units on each floor. A private lift lobby also adds on to its luxurious and exclusive charm of the condominium.

The attractions and landmarks surrounding Taman Seputeh also make it one of Kuala Lumpur’s most sought-after addresses for residential living. Connected through a direct pedestrian link bridge, Setia Sky Seputeh is only 500-metre away to Mid Valley Megamall and The Gardens Mall — one can literally walk there in minutes.

Defying odds

Imagine coming home to the calming scenery of the surrounding forest amidst the bustling vibes of the city. The orchestra of chirping birds, almost masking the rumbling sounds of engines down below, offering you a playlist of constant serenity while being at home.

And with the home being more important than ever, it is important to choose a space that fits your lifestyle — a happy place that you can work, play, live and love.

Setia Sky Seputeh calls it the Sky Mansion, the condominium units that are designed to be luxuriously spaces and significantly larger than most high-rise condominiums in the city. These units range from 2,303 to 3,025 sqft, comprising three different layouts — Sky Suites (3 unit types from 2,303 – 2,379 sqft), Sky Bungalows (2,616 – 2,885 sqft) and Sky Mansions (2,971 – 3,025 sqft) — for new homeowners to choose from.

With a strong understanding that condo layouts measuring more than 2,000 sqft are generally rather difficult to find, especially those around KLCC area, Setia Sky Seputeh develops desirably larger spaces to cater to the market.

Security and privacy

When it comes to living in a condominium, it is instantly linked to the idea of privacy and quietude that you look forward to when returning home. But one of the key upsides of high-rise living is efficacy in security. Here in Setia Sky Seputeh, its vigilant security systems are constantly and closely monitored to ensure the safety of all its residents.

Compared to a landed property, high-rise living also offers peace and quiet as you isolate yourself when privacy is needed most. Create a private sanctuary within your home, as you can creatively utilise the large layout space to its best potential.

And if you’re a living with a large family, you’d find this music to your ears. Setia Sky Seputeh provides residents with three to four side-by-side carparks to facilitate families with multiple vehicles — so you need not worry about insufficient parking spaces, especially in a high-rise setting.

5-star facilities

Setia Sky Seputeh is also equipped with state-of-the-art facilities aimed to foster healthier lifestyles. While some landed residential projects have clubhouses and more, residents may have limited access to the facilities provided. Here at Setia Sky Seputeh, there are two very different facilities podium that are available for its residents — a Beach Podium on Level 7 and the Sky Rooftop Podium on Level 36.

The Beach Podium on Level 7 comes with 1.5-acre resort-themed facilities, as well as a cocktail bar, virtual gold area and other creature comforts you’d find at a resort. It is also home to Malaysia’s longest man-made podium beach with 700m² sandy beach.

On Level 36 lies the Sky Rooftop Podium that offers a different experience altogether. The interiors are elevated with beautifully designed spaces with entertainment lounges, gourmet dining facility, heated aqua gym and plenty of Instagram-worthy corners to feed your social media game.

Both facilities podiums also offer sweeping views of the adjacent forest and the cosmopolitan skyline — enabling residents to enjoy the best of both worlds from every vantage point. There is also a central park featuring a dedicated walkway for residents to take morning strolls or evening walks at their convenience.

So sit back and relax, as you marvel at the fine balance of urbanism and tranquility Setia Sky Seputeh has to offer.

Chilling out over some good food used to be one of Malaysians’ favourite pastimes. However, the Covid-19 pandemic has made many think twice about venturing out. While shopping could still be done online, a virtual get-together just doesn’t feel the same without sharing some tasty bites together.

Mask on and hands off is the mantra now. How we wish there were a safe place where we could hang out without having to worry about contracting the SARS CoV-2 virus either through the air we breathe or from touching surfaces with the adhered virus.

Well, the good news is such a place has just been opened. The D’Network in Setia Eco Park is the first F&B hub in Malaysia to be fully fitted with the Panasonic Air-e Device to ensure its workers and patrons enjoy cleaner and safer indoor air quality through the nanoe™X technology.

Unveiled by S P Setia Bhd on Sept 18, 2020, the commercial centre in Setia Alam, Selangor is the latest go-to place for a unique class of dining experiences – from local fare at Kotak Kopi restaurant, to authentic Thai food at Five Seasons Hot Pot, to international flavours at d’Global cuisine by Chef Zubir, an award-winning Malaysian culinary maestro and judge.

Alternatively, we can satisfy our cravings for ocean delectables at the Grand Ya Lim Seafood Restaurant, or unwind at The Grange Restaurant and Bar. For midday boosts, there is San Francisco Coffee, as well as Liana & Dina which also serves cakes and desserts to accompany the cup of Joe.

To meet the lifestyle needs of the community, D’Network houses the Garden Grocer supermarket, a shoes boutique, Thai Odyssey for spa treatment, Community Garden & Services, You & I Insurance, Mail Boxes for delivery point and e-services, and others.

Notably, the neighbourhood retail hub boasts the first international Petanque facility set up in Malaysia. A popular French pastime, the Petanque lawn is equipped with international-standard lanes and high-quality boules to offer some outdoor fun.

A pet-friendly park at D’Network is also expected to draw visitors and their furry friends to come out for a walk among the manicured greens and the cool temperatures accorded by Setia Eco Park’s adjacency to Bukit Cerakah forest reserve.

Another unique attraction in this F&B hub is the musical fountain. Dubbed the Symphony of Sustainability, it is the world’s first dancing water lighted by solar power stored from the day. Diners can even pick songs in advance for special occasions.

A strategic collaboration for a safe community

Taking cognisance of the public’s concern for health and safety especially in light of the outbreak of the easily transmissible SARS CoV-2 virus, S P Setia has taken the initiative to fit out D’Network with Panasonic’s patented air purification technology.

The nanoe™X technology in D’Network is also the first in Malaysia to be operated on solar power, in line with S P Setia’s vision to model a green and sustainable hub that utilises the most energy-efficient design.

The multiple award-winning developer revealed that the brainchild behind these double firsts was Senior Executive Vice President of S P Setia, Datuk Koe Peng Kang, who had thrown out a challenge to Panasonic Malaysia to run the system on renewable resource in the eco hub.

In response, the Panasonic team said it could be done. So instead of using traditional electricity grids, they made some adjustments for the nanoe™X technology to be mechanised by solar panels on top of the D’Network roof.

Generating 345 kWp of hybrid solar energy, D’Network is the country’s first F&B hub which effectively runs on power from the sun.

Spanning 3.16 acres, the entire D’Network’s indoor area – including its dining, retail, grocery, spa and community activities – is fully installed with the Panasonic Air-e Device (nanoe™X) to curb pathogenic microorganisms in both airborne and on adhered surfaces.

“Panasonic and S P Setia’s collaboration presents indeed a very smart and timely technological breakthrough to tackle the invisible threat of the Covid-19 pandemic. By equipping our outlets with nanoe™X operated by all-day solar-power, we can offer 24-hour active air purification – all whilst being environmentally friendly,” said Koe.

“In today’s health-conscious world, we care about exercising, eating right and hygiene, as well as the air we breathe. As a conscientious and trusted brand, we want to help create not just a better environment but also better air quality within that environment.

“We are truly excited to collaborate with Panasonic in creating this solar-powered, patented nanoe™X air purification system that would be beneficial to all. We hope to set a leading example to the rest in offering another level of safety and security to the communities we build. Staying true to our development philosophy, we strive to provide our patrons and the whole community more sustainable live, learn, work and play experiences,” Koe added.

Meanwhile, the managing director of QAFL Business Promotion Office of Panasonic (for Asia Pacific region), Ichiro Suganuma, said: “This collaboration between S P Setia and Panasonic signifies another great partnership between us, and marks yet another application of nanoe™X technology in providing safe and quality air in commercial spaces such as D’ Network. Under the new normal, we continue to place our customers’ health and safety as top priority while maintaining their comfort and user experience as our common goal.”

A breakthrough technology that inhibits SARS-CoV-2 which causes Covid-19

Explaining the breakthrough innovation, Suganuma says the nanoe™X technology takes its inspiration from nature.

While we know taking a breather in the outdoors has a refreshing effect, we may not be aware this is mainly because the atmosphere is constantly cleansed by a natural detergent called hydroxyl radicals. This oxidising element found abundantly in open air works like soldiers that disarm undesirable pollutants from their harmful effects, making the natural surroundings smell fresh and clean.

Recognising the power of hydroxyl radicals, the Panasonic team began an extensive research and found that they have the ability to act on almost every hazardous substance including odours, mites, moulds, pollen, animal dander, allergens, fungi, pesticide residues, bacteria and viruses.

In its pursuit to provide safer environments to enhance the quality of life for all, the team laboured for 20 years and finally, at the turn of the millennium, achieved a breakthrough invention in producing hydroxyl radicals synthetically.

By applying high voltage to moisture from the air, they have created nano-sized (5-20nm) electrostatic atomised water particles containing hydroxyl radicals. More than that, the hydroxyl radicals contained in water also survive 10 times longer and spread much wider than its general counterpart.

Incorporated into Panasonic’s nanoe™X Generator Mark 1 technology, the system can generate 4.8 trillion of hydroxyl radicals per second to effectively combat organic pollutants within indoor settings. The strongly oxidative and highly reactive ion is also capable of penetrating deep into fabrics to deodorise frequently encountered odours such as cigarette smoke and dampness.

Among its latest milestones, Texcell*1, a global research organisation sited in France, has recently certified the nanoe™X is even capable of neutralising over 99.99% of the SARS-CoV-2 activity in a controlled 45L test space within two hours.

“At Panasonic, we are committed to devote ourselves in enhancing people’s lives through our innovative products and technology. nanoe™X is our proud patented technology which is embedded in Panasonic air quality devices such as air conditioners and air-E diffusers, providing quality air that will help to inhibit viruses (including novel coronavirus) and other allergens which will mitigate risks to air quality and provide quality air for life,” said managing director of Panasonic Malaysia Sdn Bhd Cheng Chee Chung.

KUALA LUMPUR (Jan 7): CGS-CIMB Research gathered that S P Setia Bhd plans to launch projects worth up to RM3.7 billion in gross development value (GDV) in financial year 2021 (FY21), versus the RM2.8 billion planned GDV in FY20F, out of which about 94% will be in Malaysia.

“Some 54% of the total new launches would be projects with properties priced below RM1 million each, with the rest comprising properties priced above RM1 million each. In terms of product mix, about 67% will be landed residential units, followed by condominiums and apartments (14%), commercial units (9%), serviced apartments (4%), affordable housing (4%), and industrial units (2%),” said CGS-CIMB analyst Ngo Siew Teng in a report today.

“Notable launches will be in Setia Alam, Setia Eco Hill 1&2, Setia Alamsari, Bandar Kinrara, Temasya Glenmarie, Taman Pelangi, Setia Tropika, and Setia Fontaines,” Ngo added.

The local research house hosted S P Setia’s management yesterday at the former’s annual Malaysia Virtual Corporate Day.

Ngo also pointed out that S P Setia is on track to hit FY20 sales target.

“S P Setia has guided for new sales of RM3.8 billion for FY20. As at Oct 31, 2020, it had secured about RM2.8 billion worth of new sales and a booking pipeline of RM1.7 billion. Given the pickup in sales momentum post-Movement Control Order and a good product mix skewed towards landed homes, the group should be able to achieve its FY20 sales target, in our view. We observe that its inventory of completed properties declined to RM1 billion in 3Q20 from RM1.4 billion in 4Q19, due to its ongoing monetisation efforts,” Ngo stated.

She added that S P Setia has resumed its work at most of its project sites, at 80%-90% of the manpower capacity in compliance with the standard operating procedures to curb the spread of the Covid-19 pandemic.

The analyst expects the group to set a FY21F new sales target similar to its FY20 target and it would be mainly supported by local projects.

CGS-CIMB has an add call for the stock with an unchanged target price of RM1.06.

“We are positive on S P Setia given its attractive valuation (0.3x FY21F P/BV, lower than peer average of 0.4x), massive land bank to cater for changes in consumer preferences, and anticipated earnings improvement in FY21-22F,” noted Ngo.

“We see limited downside as the stock has been trading at a trough valuation of c.0.3x P/BV since 2001. Stronger earnings delivery in FY21-22F and undemanding valuations are its key potential rerating catalysts,” she added.

At the time of writing, S P Setia stock was down 2.09% or two sen to 94 sen. Its market capitalisation was at RM3.84 billion.

Residents in Pinang Tunggal and Bertam in Penang will now be able to purchase fresh farm products at the nearby Healthy Eco Leisure Lifestyle Opportunity (Hello) Market.

Set up to resemble the internationally renowned Camden Market in London, or the Paddy’s Market in Sydney, the urban grocery market on mainland Penang is a joint collaboration between the state government and local developer SP Setia Berhad.

Chief Minister Chow Kon Yeow said farmers from the nearby areas could showcase their fresh products at the market.

“This new facility will also give the opportunity to consumers to get their daily fresh food and vegetables at an affordable price, ” he said after launching the Hello Market at S.P Setia Fontaines on Sunday.

Among the items available at the market are guavas, jackfruits, corns, bitter gourds, long beans and other fresh vegetables.

Earlier, SP Setia executive vice president Datuk Koe Peng Kang said the company hoped that the market would empower farmers especially the smallholders and producers to market their products.

“This is our first step to becoming a trade centre that connects the sellers and the buyers.

“We also hope that the farmers can generate better returns selling their products here, ” he said.

For a start, the Hello Market will be held once a month on every first Sunday morning with about 30 farmers taking part.

Also present during the launch were state exco members Yeoh Soon Hin and Soon Lip Chee, Seberang Prai City Council mayor Datuk Rozali Mohamud, councillor Ooi Yong Wooi, and SP Setia division general manager Ricky Yeo.

FOLLOWING a global election conducted virtually at the International Real Estate Federation (FIABCI) General Assembly on Dec 16, Datuk Koe Peng Kang was appointed as the vice president of FIABCI Asia Pacific, effective May 2021 to May 2023.

With a background of a professional civil engineer, Koe has more than three decades of experience in the fields of engineering, construction, infrastructure works, property development.

Prior to joining S P Setia, Datuk Koe was involved in numerous national projects including the Malaysia Rural Water Supply Scheme and the implementation of the Sungai Selangor Water Supply Phase 1.

He was also part of the Samsung C&T Corporate led South Korean Consortium in its implementation work for the Petronas Twin Towers.

Datuk Koe will be serving together with David Tang from FIABCI Taiwan, Meiko Handoyo from FIABCI Indonesia for the two-year term effective May 2021, under the presidency by Peter Koh from FIABCI Singapore.

Datuk Koe is no stranger to the real estate industry. He joined S P Setia, Malaysia’s leading property developer since 1997 and has held various positions in the Group.

Within the next 30 years, he advanced rapidly through various business and operational roles and is currently the senior executive vice president in the group.

He is responsible for the overall oversight, including the management and supervision of major projects in the group notably pioneering the multi-award-winning eco-themed developments namely Setia Eco Park, Setia Eco Glades, Setia Eco Templer and Setia Warisan Tropika in the central region of Peninsular Malaysia. – Dec 19, 2020