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KUALA LUMPUR (Feb 25): Property Developer S P Setia Bhd was back in the black for its fourth quarter ended Dec 31, 2020 (4QFY20) with a net profit of RM55.49 million, from a net loss of RM263.43 million in the immediate preceding quarter. In a bourse filing, the group announced that the return to profitability in its latest financial quarter was on account of the absence of an impairment loss of RM336.3 million from its 40%-owned British joint venture (JV) Battersea Project Holdings Co Ltd. It noted that excluding the share of impairment loss, it would have posted a profit before tax of RM117.2 million in 3QFY20. ....
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PETALING JAYA (Dec 14): S P Setia Bhd clinched the top spot in The Edge Malaysia Top Property Developers Awards (TPDA) 2020, marking the fifth consecutive year the company won the spot. It dropped to third and fourth positions in 2014 and 2015 respectively, before regaining the title in 2016. S P Setia president and chief executive officer (CEO) Datuk Khor Chap Jen said the developer is elated to be awarded top honours for the 13th time. “This would be impossible if not for the strong teamwork we have at Setia. It hasn’t been easy as we have been facing strong headwinds with the soft market and in addition to that, the unprecedented Covid-19 pandemic. No industry has been spared, but our team spirit persevered, and we rose up to overcome the odds by continuing to deliver our best. I would like to dedicate this win to Team Setia,” he added. ....