“We believe the outlook for SP Setia remains stable premised on its strong unbilled sales of RM10.95bil and overseas contribution beginning 2020,” AmInvestment said in a note.
PETALING JAYA: The outlook for SP Setia Bhd
remains stable, with the property developer’s earnings in financial year 2019 (FY19) to be driven by higher sales, said AmInvestment Research.
The higher sales would be on the back of the stamp duty waiver, inventory clearing efforts and lower interest expenses as a result of repayment of borrowings from the sale of Battersea Phase 2 commercial assets, it said.
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