S P Setia records RM1.9b unbilled sales

KUALA LUMPUR : S P Setia Bhd’s on-going home loan package scheme has been instrumental in enabling the property developer to record RM1.9 billion in unbilled property sales.

Its president and CEO Tan Sri Liew Kee Sin said on July 1 more than half of the RM1.9 billion or RM1 billion in sales were from S P Setia’s Setia 5/95 Home Loan Package.

The developer's unbilled sales, or value of properties sold which has yet to be recognised in the company's books, could sustain it for the next 18 months.

"Much of the sales numbers can be attributed to the Setia 5/95 Home Loan Package. If the sale and purchase agreement is not signed, it is not a sale to us," Liew Kee Sin told reporters at Invest Malaysia.

By The EDGE Malaysia (by Chong Jin Hun)