S P Setia reports RM99.8 mil net profit for 2Q

• Quarterly revenue stood at RM944 million, mainly supported by contributions from local development projects.

KUALA LUMPUR (Aug 20): S P Setia Bhd reported a net profit of RM99.8 million for the second quarter ended June 30, 2025 (2QFY2025).

Quarterly revenue stood at RM944 million, mainly supported by contributions from local development projects.

For the first half of the financial year, the group recorded a net profit of RM166.82 million and revenue of RM1.71 billion.

“Amid ongoing market challenges, our outlook remains cautiously optimistic as we continue to seek opportunities to expand across targeted high-growth segments,” said president and CEO Datuk Choong Kai Wai. (pictured)

In a statement on Wednesday, the group added that it will continue to advance its catalytic township developments, eco-industrial parks, strategic partnerships, and capitalise on value creation opportunities within its key growth corridors.

Internationally, the group marked the groundbreaking of its Setia Garden Residences project within the 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), the project is scheduled for completion in 2027 and is positioned as a landmark development in the northern corridor of the city.

As at June 30, 2025, S P Setia reported an unbilled sales pipeline of RM3.9 billion, 42 ongoing projects, and a remaining land bank of 5,191 acres, with an effective remaining GDV of RM90.18 billion.

The group has established a strong presence across Malaysia’s key economic regions, including the Klang Valley, Johor Bahru, Penang, and Sabah, while also expanding its international portfolio with projects in Vietnam, Australia, Singapore, China, the UK, and Japan.

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