SP Setia Berhad is facing mounting financial challenges, despite some surprising revenue gains
Their net profit for the first half of 2024 surged, thanks to land sales. But don’t get too excited—there’s a dark cloud looming.
The Battersea Power Station project in the UK, meant to be a game-changer, has become a financial drain. In Q2 alone, it racked up RM101 million in losses due to low occupancy and high-interest rates.
Analysts still say 'BUY' with a target price of RM1.72, but they warn that the profit boost from land sales isn’t sustainable. Plus, those Battersea losses are a serious concern.
Looking ahead, S P Setia plans more land sales in Setia City and Taman Pelangi Johor to hit their RM4.4 billion sales target for 2024. But the question is: Can they keep this up, or will the Battersea project drag them down?
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Dave Rave : The way this video presented is funny. Sound scary
. Objective achieved
Zaclim OP Dave Rave : Tqtq![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
104529323 : Nice analysis bro but the voice can be increased, and the sentences are getting cut out too early
Zaclim OP 104529323 : Thanks for the feedback. Will improve