PETALING JAYA: SP Setia Bhd
is maintaining its RM3.8bil sales target for this year and is focusing on converting the existing RM1.5bil bookings into sales.
A potential earnings surprise could come from land sales, according to Maybank Investment Bank Research. This is because SP Setia is looking to dispose of non-strategic landbank worth RM1.8bil in market value, according to the research firm.
It observed that following the reopening of the economy after the recent lockdown, property sales have started picking up. The research firm attributed the better performance to pent-up demand while sales gained further momentum with various discounts offered by SP Setia through the Home Ownership Campaign 2020.
...