SP Setia promoting its homes to new potential markets, taking advantage of strong demand.
20060112 StarBiz Pg1 - Magean
KUALA LUMPUR: MIDF Research has maintained its “buy” call on on S P Setia Bhd following a management meeting that reaffirmed the positive prospects of the group’s property division.
According to MIDF, S P Setia’s management is confident it will hit its new sales target of RM3.8bil in financial year 2020 (FY20).
The group recorded new sales of RM2.86bil as at October 2020 and expects new sales to be strong in the final quarter of the year.
“We gather that sales from its matured townships such as Setia Alam and Bandar Kinrara remain encouraging, as new launches in the townships enjoyed good take-up rate of more than 90%, ” said MIDF.
following a management meeting that reaffirmed the positive prospects of the group s property division.
According to MIDF, SP Setia s management is confident it will hit its new sales target of RM3.8bil in FY20.
The group recorded new sales of RM2.86bil as at October 2020 and expects new sales to be strong in the final quarter of the year. Property sales in 4QFY20 is expected to be supported by pent up demand post MCO and low interest rate. We gather that sales from its matured townships such as Setia Alam and Bandar Kinrara remain encouraging as new launches in the townships enjoyed good take up rate of >90%, said MIDF.