KUALA LUMPUR - S P Setia Bhd reports an uptick of 34% in its sales at RM1.186 billion in Q2 FY2025, compared to RM883 million in Q2 FY2024.
During the review period, sales momentum has picked up quarter-on-quarter, primarily from the Group’s domestic projects.
Sales in the first half of FY2025 were mainly contributed by domestic projects at RM1.42 billion, representing approximately 75% of total sales, while the Group’s international
projects contributed RM480 million, about 25% of the total sales.
Central region contributed sales totalling RM955 million, while the Southern region accounted for RM430 million. During this review period, Setia has achieved RM1.90 billion of total sales. In terms of revenue, Setia recorded RM944 million in Q2 FY2025, contributed by mostly
local development revenue. For the first half of FY2025, Setia posted revenue of RM1.71
billion and recorded a profit before tax (PBT) of RM337 million. The Group has continued
to reduce its borrowings, with a current net-gearing ratio of 0.34x, aligning with the
Group’s debt reduction strategies.
Setia president & CEO Datuk Choong Kai Wai said, “Our performance this quarter reflects
our persistent efforts in delivering quality products and diversifying our portfolio, while we
remain cognisant of the market challenges.”
On July 9, 2025, Bank Negara Malaysia (BNM) has cut the Overnight Policy Rate (OPR) by
25 basis points to 2.75%, its first rate cut in five years.
The rate cut signals anticipated growth in the property development industry, particularly
in the residential segment, by improving buyer affordability, reducing developers’ financing
costs, and potentially boosting market sentiment amid heightened, prolonged global
uncertainty as well as rising construction costs.
“Amid the current market challenges, our outlook remains cautiously optimistic while we
look for opportunities to expand our presence across our targeted high-growth segments,”
said Choong.
Meanwhile, the Group will continue to accelerate its catalytic township developments, eco
industrial parks, strategic partnerships and capitalising on value creation across its key
growth corridors.
On the international front, Setia held a groundbreaking ceremony for its Setia Garden
Residences project at its EcoXuan township in Ho Chi Minh City, Vietnam on July 26, 2025.
With a gross development value (GDV) of US$81 million (RM381.1 million), Setia Garden
Residences is scheduled for completion in 2027, and is positioned to become a new
landmark in the northern corridor of Ho Chi Minh City.
As of June 30, 2025, Setia has unbilled sales pipeline of RM3.9 billion, 42 ongoing projects
and with a remaining land bank of 5,191 acres, and an effective remaining gross
development value (GDV) of RM90.18 billion.
