KUALA LUMPUR – S P Setia Bhd (“Setia” or “the Group”) is pleased to announce its financial results for Q2 FY2025, as the Group continues to demonstrate its steady performance whilst delivering value to its shareholders.
The Group reports an uptick of 34% in its sales at RM1.186 billion in Q2 FY2025, compared to RM883 million in Q2 FY2024. During the review period, sales momentum has picked up quarter-on-quarter, primarily from the Group’s domestic projects.
Sales in the first half of FY2025 were mainly contributed by domestic projects at RM1.42 billion, representing approximately 75% of total sales, while the Group’s international projects contributed RM480 million, about 25% of the total sales. Central region contributed sales totalling RM955 million, while the Southern region accounted for RM430 million. During this review period, Setia has achieved RM1.90 billion of total sales.
In terms of revenue, Setia recorded RM944 million in Q2 FY2025, contributed by mostly local development revenue. For the first half of FY2025, Setia posted revenue of RM1.71 billion and recorded a profit before tax (PBT) of RM337 million. The Group has continued to reduce its borrowings, with a current net-gearing ratio of 0.34x, aligning with the Group’s debt reduction strategies.
Setia President & CEO Datuk Choong Kai Wai said, “Our performance this quarter reflects our persistent efforts in delivering quality products and diversifying our portfolio, while we remain cognisant of the market challenges.”
On 9 July 2025, Bank Negara Malaysia (BNM) has cut the Overnight Policy Rate (OPR) by 25 basis points to 2.75%, its first rate cut in five years.
The rate cut signals anticipated growth in the property development industry, particularly in the residential segment, by improving buyer affordability, reducing developers’ financing costs, and potentially boosting market sentiment amid heightened, prolonged global uncertainty as well as rising construction costs.
“Amid the current market challenges, our outlook remains cautiously optimistic while we look for opportunities to expand our presence across our targeted high-growth segments,” added Datuk Choong.
Meanwhile, the Group will continue to accelerate its catalytic township developments, eco-industrial parks, strategic partnerships and capitalising on value creation across its key growth corridors.
On the international front, Setia held a groundbreaking ceremony for its Setia Garden Residences project at its EcoXuan township in Ho Chi Minh City, Vietnam on 26 July 2025. With a gross development value (GDV) of US$81 million (RM381.1 million), Setia Garden Residences is scheduled for completion in 2027, and is positioned to become a new landmark in the northern corridor of Ho Chi Minh City.
As of 30 June 2025, Setia has unbilled sales pipeline of RM3.9 billion, 42 ongoing projects and with a remaining land bank of 5,191 acres, and an effective remaining gross development value (GDV) of RM90.18 billion.