KUALA LUMPUR: Celebrating Corporate Malaysia’s crème de la crème and top responsible organisations, The Edge Billion Ringgit Club (The Edge BRC) & Corporate Awards 2017 saw the country’s leading developer, S P Setia Berhad stamp its mark in The Edge BRC Highest Growth In Profit After Tax (over three years) category with the Silver Award under the Property Sector. On hand to proudly receive the award at the gala dinner last night was S P Setia’s President and CEO, Dato’ Khor Chap Jen.
Evaluated based on the company’s compound profit before tax (PBT) growth for a period of three years, S P Setia was one of the few who stood out from the rest as the developer did not pose any losses throughout the period of evaluation due to good management strategies and consistently registering high take up rates at their new property launches.
“It is indeed a great honour for S P Setia to be recognised for our positive growth despite the soft property market landscape these past 3 years. Throughout the years, our commitment to sustainability and innovation has not waivered and we will continue to weather the challenges with the right strategies,” said Dato’ Khor.
According to its recent announcement and group updates for the first half year of FY2017 ended 30 June 2017, S P Setia registered secured sales of RM2.07 billion and is on track to achieve its Sales Target of RM4.00 billion for the year-in-review. Revenue and PBT for the first half of FY2017 were RM1.73 billion and RM358.3 million respectively.
The Edge BRC recognises excellence in companies with a market capitalisation of above RM1 billion. Companies are added to the annual list automatically at the cut-off date (March 31) and are evaluated based on growth in profit, returns to shareholders and corporate responsibility (CR) commitments, among others.