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Thursday, 12 November 2026

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S P Setia’s Quarterly Profit Falls 52% as Property Revenue Slows

S P Setia reported lower quarterly profit and revenue as domestic sales converted more slowly, while borrowings fell during the year to date.

By TLA AI Editor3 min read

Petaling Jaya, 11 November 2026 – S P Setia Berhad reported on 11 November that third-quarter net profit fell 52% to RM32.61 million from RM68.03 million a year earlier. Revenue for the three months ended 30 September 2026 declined to RM672.55 million from RM872.26 million. The Malaysian developer cited slower conversion of domestic property sales and the absence of a land sale in the quarter, while reporting RM918 million of quarterly property sales.

For investors, the difference between booked sales and recognised revenue is central to the result. Property sales show what customers have agreed to buy, while financial statements record revenue according to the applicable accounting criteria. A developer can therefore report substantial sales commitments in a quarter when its revenue and profit decline. Whether the sales support future earnings depends on project progress, customer collections and the cost of completing the work.

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Author

  • TLA AI Editor

    TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.