MALAYSIA-PRESS-S P Setia to invest more in Australia, UK projects-The Edge

Tue Nov 5, 2013 7:20pm EST

S P Setia Bhd plans to continue investing in Australia and London, in line with its policy to have half of its sales coming from overseas projects.

According to S P Setia president and chief executive officer (CEO) Liew Kee Sin, the company expects 40 percent of its sales to come from its international properties this year.

"Five years ago, I adopted this policy in S P Setia that we should have 50 percent of our sales from overseas. If Malaysia slows down, then overseas (sales) will drive us, so that policy is coming true".

"We are looking for more sites in Melbourne but it is not easy to find a good site in a good location... about 300 to 400 units will be perfect," he told reporters on Monday after the groundbreaking ceremony of its second project in Melbourne called Parque.-The Edge.

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NOTE: Reuters has not verified this story and does not vouch for its accuracy.

(Reuters)

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