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Top read stories include demise of S P Setia director, reappointment of Tengku Zafrul as Finance Minister, Penang property market recovering

KUALA LUMPUR: SP Setia Bhd has sped towards achieving its sales target of RM3.8bil following a strong sales performance of RM2.71bil in the first half of the year.

Property sales PETALING JAYA: Property developers are set to chart better sales performances in 2021, as market confidence is expected to grow with the commencement of the nationwide vaccine rollout. TA Securities said in a report that the prolonged low-interest-rate environment, abundant market liquidity and supportive government measures will help spur demand for properties. “Having said that, we expect better market sentiment along with stronger recovery in economic and business activities, which should contribute to better developers’ sales prospects ahead and eventually translate to ...

S P Setia shuffles leadership with new CEO and COO Details 03 February 2021 S P Setia has named Choong Kai Wai as president and CEO and Koe Peng Kang as deputy president and COO, replacing Khor Chap Jen and Wong Tuck Wai respectively as they retire by the end of September this year. According to the company, the leadership transition follows a succession plan which is part of the company’s leadership talent agenda. The succession plan aims to sustain the leadership position of S P Setia as the leading property developer in Malaysia. Choong is r...

“Moving forward, other than focusing on clearing the completed inventories, S P Setia will remain prudent with new launches, concentrating on the mid-range landed homes in established townships to cater to the demand of owner-occupiers.” PETALING JAYA: S P Setia Bhd is on track to achieve its 2020 sales target of RM3.8bil, considering that the company had already secured new sales and bookings of RM2.9bil and RM1.8bil respectively as at Oct 31,2020. TA Securities Reseaerch in a report yesterday said sales momentum has been encouraging, as buyers are taking advantage of the current low int...