PETALING JAYA: S P Setia Bhd is looking out for potential buyers of its landbank following several years of expansion on this front.<\/p>\n
The property developer\u2019s planned corporate move would allow it to raise funds for its other strategic developments as it sets a sales target of RM3.8bil for this year.<\/p>\n
\u201cFrom 2016 to 2018, we had embarked on several expansion initiatives. In 2016 and 2017, we acquired new landbank in the mainland of Penang, Bangi, Australia and Singapore, \u201d the company said in its 2020 annual report.<\/p>\n
\u201cWe also acquired I & P Group Sdn Bhd and all its subsidiaries in 2017, therein expanding our landbank from 5,384 acres to 9,660 acres, \u201d it added.<\/p>\n
S P Setia said it now has a total of 8,528 acres of landbank in Malaysia, Australia, the United Kingdom, Singapore, Vietnam, China and Japan.<\/p>\n
These landbanks have a potential effective gross development value (GDV) of RM136.87bil, the property developer said.<\/p>\n
Last year, the company said it had managed to sell some land in Setia City, Shah Alam to\u00a0Supermax Corp Bhd\u2019s subsidiary for RM73.5mil.<\/p>\n
This land will eventually house Supermax\u2019s business headquarters.<\/p>\n
\u201cThis forms part of our placemaking plans, in which we seek to attract reputable corporations to invest in our township to increase overall footfall and vibrancy, \u201d the company said.<\/p>\n
Meanwhile, the company said that it had managed to see a significant reduction in its completed property inventory despite the challenging economic climate in 2020.<\/p>\n
\u201cDuring the year, our emphasis shifted from launching new properties to reducing our completed inventory.<\/p>\n
\u201cThese efforts proved successful, contributing to a reduction in inventories from RM1.46bil to RM1.09bil, \u201d S P Setia said.<\/p>\n
The company noted that the year 2020 saw it offering attractive incentives for the sale of its completed projects with its campaigns including Setia Now.<\/p>\n
Moving forward, S P Setia said it would like to grow its property investment portfolio to generate 10% of its earnings before interest and taxes (EBIT) by 2025 and 30% by 2035.<\/p>\n
To do this, the company said it would reduce its gearing levels and maintain an optimal capital structure.<\/p>\n
\u201cThe monetisation of selected landbank to raise funds will be the key focus area for 2021, \u201d it said.<\/p>\n
S P Setia said it would also like to diversify into new markets and businesses in industries such as logistics, e-commerce, healthcare and assisted senior living residences.<\/p>\n
The company also noted that it would also expand its investment property portfolio to diversify its business and secure steady revenue streams.<\/p>","protected":false},"excerpt":{"rendered":"
PETALING JAYA: S P Setia Bhd is looking out for potential buyers of its landbank following several years of expansion on this front. The property developer\u2019s planned corporate move would allow it to raise funds for its other strategic developments as it sets a sales target of RM3.8bil for this year. \u201cFrom 2016 to 2018, […]<\/p>\n","protected":false},"featured_media":3161,"template":"","news_category":[16],"township-news":[],"venues-news":[],"class_list":["post-3159","news","type-news","status-publish","has-post-thumbnail","hentry","news_category-general"],"acf":[],"_links":{"self":[{"href":"https:\/\/spsetia.com\/zh\/wp-json\/wp\/v2\/news\/3159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/spsetia.com\/zh\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/spsetia.com\/zh\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/spsetia.com\/zh\/wp-json\/wp\/v2\/media\/3161"}],"wp:attachment":[{"href":"https:\/\/spsetia.com\/zh\/wp-json\/wp\/v2\/media?parent=3159"}],"wp:term":[{"taxonomy":"news_category","embeddable":true,"href":"https:\/\/spsetia.com\/zh\/wp-json\/wp\/v2\/news_category?post=3159"},{"taxonomy":"township-news","embeddable":true,"href":"https:\/\/spsetia.com\/zh\/wp-json\/wp\/v2\/township-news?post=3159"},{"taxonomy":"venues-news","embeddable":true,"href":"https:\/\/spsetia.com\/zh\/wp-json\/wp\/v2\/venues-news?post=3159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}