KUALA LUMPUR: S P Setia Bhd welcomes the measures supporting home ownership, investment, sustainable development and the resilience of Malaysia’s construction ecosystem in Budget 2027.
The property developer also hailed the extension of the stamp duty exemption for residential properties priced up to RM750,000 until 2030, as this will broaden support for prospective homebuyers and improve accessibility to home ownership.
In a statement yesterday, the group said it is also encouraged by the continued focus on Johor as an economic and investment corridor, including the Johor-Singapore Special Economic Zone (JS-SEZ), and improvements in regional connectivity.
“These initiatives complement S P Setia’s established presence in Johor and the group’s expansion into industrial development,” it said.
President and chief executive officer Datuk Zaini Yusoff said the continued emphasis on green investment through the Green Investment Tax Allowance aligns with its plans for the Setia Fontaines Industrial Park as an upcoming green industrial park.
“Together with the momentum in Johor and the JS-SEZ, these initiatives support our broader strategy to grow S P Setia’s industrial platform alongside our core township business,” he said.
On the construction sector, the group welcomed the reintroduction of the variation of price mechanism to help the industry manage fluctuations in key inputs such as diesel and bitumen.
The company said this will provide greater certainty to contractors.
It also stressed the importance of managing construction and housing development costs to ensure quality homes remain accessible to Malaysians, with improvements in productivity, procurement efficiency and overall delivery costs to balance affordability with a sustainable property and construction ecosystem.
S P Setia also praised the government’s longer-term objective to increase affordable housing under the 13th Malaysia Plan, noting that public-private collaboration could help deliver quality, sustainable and well-connected communities.
The firm delivered sales of RM864mil in its second quarter ended June 30, 2026 (2Q26), with domestic developments contributing RM784mil, representing 91% of the total sales, while international developments accounted for the remaining 9%.
Net profit dipped to RM98.06mil in 2Q26, compared with RM99.8mil in 2Q25, while revenue dropped to RM821.39mil compared with RM943.73mil a year earlier.
Its property development segment recorded revenue of RM772mil, 14% lower than RM893mil in 2Q25, primarily due to lower contribution from land sale revenue by RM115mil.
For the first half of financial year 2026, it achieved a revenue of RM1.65bil and profit before tax of RM298mil. — Agencies
