Page 39 - S P Setia Annual Report 2013
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Annual Report 2013 S P SETIA BERHAD GROUP Business review | 37

The Group achieved a proft before taxation The phenomenal result validates management’s S P Setia’s strong home base in Malaysia
(PBT) of RM570.34 million on the back of well thought out strategy to venture into global continued to shine with Klang Valley projects
revenue totalling RM3.06 billion in FY2013. This cities with strong debut projects. Coupled with recording the highest growth with RM2.84
represents a 0.5% increase in PBT (5% increase solid execution and tremendous support from billion sales, 53% higher compared to RM1.85
in PBT before expensing the company’s Long the Group’s customer base, this has enabled S P billion secured in FY2012.
Term Incentive Plan for employees) and a Setia to garner high brand acceptance speedily
21% increase in revenue as compared to the in London, Australia and Singapore. This was largely due to the overwhelming
preceding year. demand for affordable homes launched in the
On the corporate front, S P Setia successfully Group’s matured Setia Alam and Precinct 15,
The slower rate of increase in PBT compared raised RM942.86 million from the placement Putrajaya projects as well as strong take-ups
to revenue is partly caused by the mismatch of 320.7 million new shares representing achieved by the eco-themed Setia Eco Glades
between initial expenses incurred and income approximately 15% of the company’s enlarged in Cyberjaya and Setia EcoHill in Semenyih
recognition on several sizeable new projects issued and paid-up share capital on 8 February following the frst launch of both projects at the
both in Malaysia and overseas. However the 2013. start and later part of the year respectively.
extremely strong sales achieved by these
new projects, which include Eco Sanctuary in The placement funds raised will be utilised KL Eco City’s frst residential tower, Vogue Suites
Singapore, Battersea Power Station in London, by the Group to fund its many ongoing One, also did very well and interest in Setia Sky
Parque Melbourne in Australia, Setia Eco Glades projects in Malaysia as well as its investments Residences picked up following completion of
and Setia EcoHill in Malaysia, will contribute overseas. These include our 40% stake in the the frst two tower blocks, thereby providing an
strongly to earnings in the years ahead. Apart redevelopment of Battersea Power Station experiential showcase of the unique amenities
from the projects mentioned above, the in London, joint-venture start-up capital and and lifestyle concepts offered by this luxury
Group’s maiden Fulton Lane project in Australia initial development cost for the G2G Qinzhou development.
also performed strongly. Industrial Park which the Group is spearheading
in China and our own existing developments in
Australia and Singapore.


IN FY2013.”
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