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54 | S P SETIA BERHAD GROUP | Annual Report 2014

The overall review of financial year 2014 saw

S P Setia clocking in strong sales despite

a challenging business environment in the

markets in which we operate. The Group’s

ongoing projects in the Klang Valley, Johor,

Penang and Sabah contributed a total

combined sales of RM2.8 billion while the

balance of RM1.8 billion sales came from

our international ventures in Singapore,

Melbourne, Vietnam and London.

The 40% international sales representation

of the overall Group sales validates our

decision to strategically diversify into the

various carefully selected cities across

Dear Valued Shareholders,

S P Setia recorded strong sales performance with a total combined

sales of RM 4.6 billion. The strong financial performance came

on the back of strong sales performance from international

project launches. With a total unbilled sales of RM11.1 billion as

of October 31 2014, we are kept busy in ensuring we deliver our

products according to the standard that is expected of the

S P Setia brand.

the globe. With a growing brand presence

overseas especially in the City of London,

S P Setia took the opportunity to globally

launch Phase 3a of the Battersea Power

Station in October of 2014. The launch saw

simultaneous exhibitions at various leading

cities such as London, Paris, New York,

Shanghai, Hong Kong, Singapore, Dubai and

not least Kuala Lumpur before moving on

to Milan, Tokyo, Beijing and Doha. Carrying

the momentum from Phase 1 and Phase 2

of the Battersea Power Station, the take up

rate of Phase 3a stands at 50% within three

weeks of launch and that is expected to

contribute significantly to the FY2015 sales.

Delivering Promises

For the year under review, S P Setia saw the

topping out of two of our maiden overseas

venture – 18 Woodsville in Singapore and

Fulton Lane in Melbourne. 18 Woodsville

is 95% sold with a total unbilled sales of

RM187 million while Fulton Lane is 99%

sold with total unbilled sales of RM1.4

billion. Both projects will be delivered ahead

of scheduled timeline with 18 Woodsville

being 4 months ahead of project delivery

and Fulton Lane 2 months ahead of practical

completion date.

president’s

report

III. business Review