S P Setia president and chief executive officer Datuk Choong Kai Wai.
PETALING JAYA: S P Setia Bhd will be focusing on strengthening its market position amidst evolving economic conditions.
President and chief executive officer Datuk Choong Kai Wai said the group will leverage its diversified portfolio, optimising capital efficiency and expanding its presence across high-growth segments.
“Among the initiatives planned for 2025 will be to accelerate the company’s township developments,” said Choong.
“We will continue to fast-track the development of catalytic townships, leveraging strategic partnerships to create vibrant, integrated communities.
“By aligning with evolving market demands, we will enhance development efficiency and maximise value creation across key growth corridors,” he said in the company’s annual report.
Additionally, Choong said S P Setia will be looking to unlock new revenue streams.
He added that the group also aims to drive eco-industrial growth.
“We are committed to expanding large-scale eco-industrial projects in Setia Fontaines, Tanjung Kupang and Setia Alaman.
“These eco-industrial parks will integrate sustainability and innovation, positioning us at the forefront of environmentally responsible developments and capturing demand in high-growth sectors.”
Moreover, Choong said S P Setia will also strengthen its regional impact.
“We will continue contributing to regional economic development through infrastructure-enhancing projects and community-driven initiatives.
“By deepening our presence across key markets and fostering strategic collaborations, we will create long-term value for S P Setia and the communities we serve.”
Choong said S P Setia will step up effectively on key developments in Australia and Vietnam to strengthen its presence in high-growth markets, while reducing its reliance on the domestic sector.
“Sustainability will remain central to our strategy, guided by the Setia Green Roadmap, ensuring eco-friendly solutions are embedded across all our developments.
“Integrating green technologies and sustainable practices will not only enhance our market appeal but also create long-term value.”
Separately, Choong said the property sector is expected to experience headwinds from inflationary pressures, interest rate fluctuations and geopolitical uncertainties.
“These factors may influence consumer sentiment and purchasing power, making it imperative to adopt a proactive and agile approach in project launches, pricing strategies and capital deployment.
“Additionally, heightened competition and regulatory shifts in housing policies will require adaptability to sustain growth and profitability.”
Despite these challenges, Choong maintained steadfastness in seizing new opportunities.
“Our strong brand reputation and differentiated offerings, anchored in sustainability, community-centric designs and integrated technology enable us to stand out in an increasingly competitive market.”
At the same time, Choong said digitalisation will continue transforming how the group engages with customers and manage its communities.
“The Setia GO App is set to enhance residents’ experiences, streamline property management and create smarter, more connected living space.
“With a diversified portfolio, a strong focus on sustainability and an evolving digital ecosystem, we are well-positioned to drive growth and shape the future of urban living.”
S P Setia surpassed its sales target for the financial year ended Dec 31, 2024 (FY24), recording RM5.02bil in sales against a target of RM4.4bil, despite a challenging economic environment.
In the fourth quarter ended Dec 31, 2024, S P Setia posted a net profit of RM103.5mil, or an earnings per share of 2.09 sen compared with RM148.2mil, or 3.53 sen, in the year-ago quarter.
Its revenue for the quarter dipped to RM1.06bil from RM1.38bil previously.
For FY24, S P Setia’s net profit nearly doubled to RM575.9mil from RM298.6mil, while revenue rose to RM5.29bil from RM4.37bil a year earlier.
