News about S P Setia

KUALA LUMPUR (April 5): S P Setia Bhd has confirmed its acting president and chief executive officer (CEO) Datuk Khor Chap Jen (pictured) as executive president and CEO, Datuk Wong Tuck Wai as deputy president and chief operating officer (COO), and Choy Kay Yew as chief financial officer (CFO), effective April 1.

KUALA LUMPUR (April 4): The shift of focus to affordable housing below the RM500,000 per unit range, which has been seeing more resilient demand than higher-end properties, may strain the margins of developers, especially those who are not traditionally involved in this housing category, said Kenanga Investment Bank.

KUALA LUMPUR (March 31): S P Setia Bhd's unit Setia EcoHill Sdn Bhd is seeking an additional RM75 million to finance the development of a clubhouse and an international school at its Semenyih property development project.

Property sector Downgrade to underweight: The broad market has been rebounding on the back of a strengthening ringgit, while the economic outlook appears to have stabilised.

Property sector Maintain neutral: Among our coverage universe, Matrix Concepts Holdings Bhd is the only developer that has managed to achieve positive growth in full-year sales (+28% year-on-year [y-o-y]) mainly due to its focus on the affordable mass market with a pricing range of below RM600,000.

PETALING JAYA (March 21): As at the end of January, China-Malaysia Qinzhou Industrial Park (CMQIP) in Nanning, China, had confirmed that 20 investment projects would be set up in the start-up area of the industrial park, according to S P Setia Bhd executive vice president Datuk Koe Peng Kang.

LONDON (March 17): Battersea Power Station Development Company Ltd, a Malaysian consortium comprising the Employees Provident Fund, S P Setia Bhd and Sime Darby Property Bhd, have unveiled the first eight new shops, restaurants and cafe going into Circus West, the first phase of Battersea Power Station.

Property sector Maintain neutral: According to news reports, the Selangor state government will freeze the approval for all applications of new property projects involving serviced apartment, small office home office (Soho), and small office versatile office (Sovo) submitted after Jan 1, 2016.

PETALING JAYA (Mar 1): The Malaysian Property Expo (Mapex) 2016 is expected to generate RM500 million in sales, said its organising chairman Datuk Ng Seing Liong.

S P Setia Bhd (Feb 26, RM3) Maintain neutral with a lower target price (TP) of RM3.