PETALING JAYA: S P Setia Bhd will continue to sharpen its focus on disciplined execution, prudent capital management and earnings resilience as it evolves into a more balanced and integrated real estate platform that delivers sustainable long-term value to shareholders.
In a statement, the property developer said it is well positioned to capitalise on Malaysia’s supportive economic landscape and selected overseas opportunities, anchored by a diversified portfolio of established townships, eco-industrial parks and international development.
The company reported that its net profit for the third quarter ended Sept 30, 2026 (3Q26) declined to RM32.61mil from RM68.03mil in the previous corresponding period, while revenue dropped to RM672.55mil from RM872.26mil a year earlier.
In a filing with Bursa Malaysia, the property developer said its property development segment recorded revenue of RM612mil, 25% lower than RM811mil in 3Q25, primarily due to slower sales conversion in domestic development projects and absence of land sale transaction in the quarter.
“The decline also reflected a higher revenue base arising from more project completions against the same quarter in the preceding year.”
S P Setia said sales for 3Q26 amounted to RM918mil, led by the central and southern regions, which collectively contributed 56% of total sales, while international development projects accounted for 32%, largely supported by sales from Vietnam.
“For the last nine months of this year, the group recorded revenue of RM2.32bil and profit before tax of RM391mil, with development revenue accounting for 83% of total revenue.
“Profit before tax moderated by 21% from 3Q25, mainly due to the expected lower contribution from land sales transactions.”
S P Setia said sales remained resilient despite softer market demand, reaching RM2.34bil for the nine-months period, supported by domestic developments of RM1.79bil (77%) and international developments of RM431mil (18%).
“Year-to-date borrowings reduced by RM402mil, with net gearing improving to 0.30 times from 0.35 times in 3Q25, in line with its ongoing deleveraging strategy.”
