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Annual Report 2014 | S P SETIA BERHAD GROUP | 57

Settingthe Direction and

Strategy for FY2015

We aim to retain our position as the top

developer in Malaysian in terms of sales. As

such, we would hereby like to announce our

sales target for FY2015 of RM4.6 billion.

In order to achieve that, the Group will be

focusing its attention on marketing our

existing stock, set targeted launch as well

as launch more mid-range products to suit

market demand.

We will be putting in aggressive marketing

efforts to sell off the balance stock including

the remaining units of Phase 3a of the

Battersea Power Station which delivers a

GDV of RM5.1 billion (S P Setia’s effective

share of GDV is RM2.1 billion).

Backed by a massive unbilled sales of

RM11.1 billion, S P Setia will look towards

delivering properties sold in the past and

launch more mid-ranged products. We will

also be selectively launching projects with

product types that will fare well in 2015.

These launches will be focused in areas with

established infrastructures and amenities.

Among the key launches in FY2015 include

the launch of 1,344 properties with an

estimated GDV of RM250 million within the

established township of Setia Alam. 1,200

units is expected to be launched under the

affordable segment while 144 units will be

launched under the mid-range segment.

Products in the pipeline for mid-range

launches include 3-storey semi-d homes

and 3-storey terrace houses while those

in the affordable range are Seri Sentosa

Apartment and Seri Pinang Apartment.

The demand for property is still very strong

as proven by our recent almost sold-out

launches of Caffra and Serrata in northern

Setia Alam in Q1 of 2015 which saw 100%

and 95% take-up rate of Caffra, 3-storey

terrace houses and Serrata, 3-storey linked

semi-d houses on the first day of launch.

Other mid-range products which will be

launched are terrace and superlink homes

in Setia EcoHill with an estimated GDV

of RM250 million and Setia Sky Vista in

Penang with an estimated GDV of RM320

million.

We will also be anticipating our maiden

launch of Setia Eco Templer, a 195-acre

eco township located in Rawang, just 20

minutes’ drive from Kuala Lumpur city

centre. Setia Eco Templer is a leasehold

gated and guarded estate, where living

amidst misty mountains, forest reserve

and crafted creeks is made possible at the

fringe of Kuala Lumpur. Setia Eco Templer’s

FY2015 launch GDV is estimated at RM260

million.

I would like to take this opportunity to

thank the Board for entrusting me the

responsibility of leading Team Setia from

hereon. I would also like to thankTeam Setia

for the commitment and commendable

efforts put in to achieve our company vision

which is to be the BEST in all we do. I hope

we will continue to inspire each other,

demonstrating the strength of our team

and transferring that energy to our products

and services quality. Last but definitely not

the least, our customers, without whose

support, S P Setia will not be the leading

property developer we are in the country

today. Thank you and may 2015 take us all

onto greater heights.

Dato’ Khor Chap Jen

Acting President & Chief Executive Officer

president’s report

III. business Review

Setia Sky Vista