Thursday, April 1, 2010

Setia chalks up sales of RM900m in 5 months

Property developer SP Setia Bhd has recorded RM900 million (S$385.6 million) in sales as of March 22, less than five months into the current financial year ending Oct 31, 2010.

Its president and chief executive officer Liew Kee Sin attributed this to the strong underlying demand for good properties, fuelled by increasingly confident business and consumer sentiment as well as a highly supportive financial sector.

‘This achievement clearly shows we are on track to meet the sales target of RM2 billion set for the financial year,’ he said.

Speaking at a press conference at Invest Malaysia 2010 in Kuala Lumpur, Mr Liew said that the company is keen to bid for the parcels of government land announced by Prime Minister Najib Razak. On Tuesday, Mr Najib announced that the government will tender a few land lots in Jalan Stonor, Jalan Ampang and Jalan Lidcol in Kuala Lumpur.

Mr Liew said the company is interested in pursuing such opportunities along with other strategic collaborations with government-linked or government holding companies. ‘We welcome the government’s move to monetise government assets via outright sales or joint ventures,’ he added.

On the industry outlook, Mr Liew said: ‘The Malaysia property market is sound and resilient.’ He said prospects and opportunities for quality developers are plentiful and will only get better, as income levels rise and good landbanks are released to be developed into sustainable environments.

Source: Business Times, 1 Apr 2010

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