S P Setia records threefold increase in net profit for 1H24

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PETALING JAYA: S P Setia Bhd reported a net profit of RM404mil for the six-months period ended June 30, 2024 (1H24), an increase from last year’s profit of RM121mil, as it gained RM361mil profit from strategic monetisation of its landbanks in Taman Pelangi Indah 2, Johor and Glengowrie, Semenyih.

Moreover, the group has expanded its international footprint, with notable projects in Vietnam, Australia, Singapore, China, the United Kingdom and Japan.

In a statement, the property developer said the completion of these land deals marked a strong financial milestone for the group.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaJapanSingaporeUnited KingdomVietnam

Topics: Corporate News Property S P Setia Choong Kai Wai /Business/Business News Landbank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-14 @ 18:02:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 599 words

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Sentences: 18 lines

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Copyright Owner: © The Star

News ID: 22075857

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