SP Setia chalks up RM470mil Q1 sales

TheStar Fri, May 15, 2020 09:30am - 3 years View Original


According to its president and chief executive officer Datuk Khor Chap Jen (pic), SP Setia’s focus during the conditional movement control order (MCO) would be on the swift conversion of these bookings into sales.

PETALING JAYA: Property developer SP Setia Bhd secured total sales of RM470mil in the first quarter of financial year 2020 (1Q20), with about 77% of the sales contributed by its local projects.

In addition to the sales secured, the group had also secured about RM723mil bookings in the pipeline in the January-March 2020 period.

According to its president and chief executive officer Datuk Khor Chap Jen (pic), SP Setia’s focus during the conditional movement control order (MCO) would be on the swift conversion of these bookings into sales.

SP Setia told the stock exchange yesterday that its 1Q20 revenue fell by almost 19% year-on-year (y-o-y) to RM702.66mil, mainly attributable to the closure of sales offices and construction sites in compliance with the MCO.

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