S P Setia records sales of RM900 million in less than five months

KUALA LUMPUR: Property developer, S P Setia Bhd has recorded RM900 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 Tan Sri Liew Kee Sin attributed this to the strong underlying demand for good properties, fuelled by an increasingly confident business and consumer sentiment as well as 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 Wednesday, March 31.

Speaking at a press conference at Invest Malaysia 2010 here, Liew said the company is keen to bid for the parcels of government land as announced by Prime Minister Datuk Seri Mohd Najib Tun Razak.

On Tuesday, Najib announced that the government will tender a few land lots in Jalan Stonor, Jalan Ampang and Jalan Lidcol in Kuala Lumpur

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, 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.

S P Setia has currently a 3,700-acre landbank. -- Bernama