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Annual Report 2014 | S P SETIA BERHAD GROUP | 49

space at the heart of the Battersea Power

Station, on 1 December 2014. Officially

unveiled by the Prime Minister of Malaysia,

Dato’ Sri Najib Razak and the Mayor of

London, Mr. Boris Johnson, the Malaysia

Square will be the pride of Malaysian when

it is completed in 2018.

Our overseas venture also saw the

successful topping out of two of our

overseas maiden project, 18 Woodsville in

Singapore and Fulton Lane in Melbourne

Australia. Both projects will be delivered

ahead of schedule.

On the local front, Malaysian sales

performance is resilient with sales in

the central region spurred by the greater

Klang Valley boom. Sales from the central

region contributed RM2.1 billion to the

overall Group sales with Setia EcoHill and

Setia Alam contributing 37.7% and 35.6%

respectively.

This was largely due to the overwhelming

response towards the various category of

products launched throughout the year. Our

quality products as well as acumen towards

customers’ needs inspired us to create

products that cater to the entire market,

ranging from self-contained townships to

upscale boutique developments.

Over in the Southern region of Johor Bahru,

the group recorded RM500 million of sales.

The Johor Baru market has been challenging

due to various measures instituted by the

III. business Review

government such as disallowing DIBS,

real property gain tax increases and loan

eligibility based on nett instead of gross

income.

Penang recorded sales of RM199 million

while Aeropod in Kota Kinbalu recorded

sales of RM25 million for the year under

review.

Ongoing projects which contributed to

the profit and revenue achieved included

Setia Alam and Setia Eco-Park in Shah

Alam, Setia Ecohill in Semenyih, Setia Eco

Glades in Cyberjaya, Setia Sky Residences

at Jalan Tun Razak, KL Eco City at Jalan

Bangsar, Aeropod in Kota Kinabalu, Bukit

Indah, Setia Indah, Setia Tropika, Setia Eco

Cascadia, Setia Business Park II, Setia Eco

Gardens and Setia Sky 88 in Johor Bahru,

Setia Pearl Island, Setia Vista, Setia Greens,

Setia V Residences and Brook Residences

in Penang.

Accordingly, it is my pleasure to announce

that the board has proposed a gross final

dividend of 5.7 sen per share and an interim

dividend of 4 sen per share totalling 9.7 sen

per share for the year representing a 60.5%

pay out of its profit attributable to the owner

of the company.

Aeropod

KL Eco City

Chairman’s Statement