S P Setia breaks ground on Setia Garden Residences in Ho Chi Minh City
KUALA LUMPUR: S P Setia Bhd recently held a groundbreaking ceremony for its Setia Garden Residences project at EcoXuan in Ho Chi Minh City, Vietnam.
The developer said the project is located within its EcoXuan township, in Bình Dương Province, in the urban area of Bình Dương Province, which is now part of Ho Chi Minh City.
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Trading ideas: Dialog, Zetrix, Kwasa, Alliance, BIG, Steel Hawk, Dayang, Paramount, Samaiden, SP Setia, MMM, CIM, Axis REIT, Pantech, Destini, EcoFirst
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Dialog Group Bhd said its associate Pengerang Terminals (Two) Sdn Bhd is spending US$330mn to expand its storage capacity in the refinery town in Johor. Zetrix AI Bhd (formerly known as My E.G. Services Bhd ) said it has received clarification from the government that it can continue to offer immigration related services within the scope of any other agreements with the latter. Kwasa Land Sdn Bhd, a wholly owned subsidiary of the Employees Provident Fund, has awarded LBS Bina Group Bhd development rights for an RM8.3bn residential project in the Kwasa Damansara township. Alliance Bank Malaysia Bhd is keeping its net interest margin forecast within the 2.4%-2.5% range for its current financial year following Malaysia's central bank rate cut recently. B.I.G. Industries Bhd is acquiring an air separation unit from Pure Gas Engineering Sdn Bhd for RM22.9mn. Steel Hawk Bhd , which provides support services to oil majors, has secured a scaffolding services contract from EPOMS Sdn Bhd for EPOMS' operational sites. Dayang Enterprise Holdings Bhd has been awarded a work order for the provision of an accommodation work barge from PETRONAS Carigali Sdn Bhd. Paramount Corp Bhd has no plan to acquire additional F&B businesses after the acquisition of a 28% stake in Singapore-listed Envictus International Holdings Ltd, said group chief executive officer Jeffrey Chew Sun Teong. Samaiden Group Bhd , through its subsidiaries, has secured three bio-energy project awards under the Sustainable Energy Development Authority Malaysia's 2025 e-bidding mechanism. S P Setia Bhd recently held a groundbreaking ceremony for its Setia Garden Residences project at EcoXuan in Ho Chi Minh City, Vietnam. MMM Group Bhd (formerly Asia Media Group Bhd ) said trading in its shares will be suspended from Aug 7, after Bursa Malaysia Securities rejected its proposed regularisation plan. PT Bank CIMB Niaga Tbk, 92.5%-owned by CIMB Group Holdings Bhd , reported a 4.6% drop in 2QFY2025 net profit to 1.7tn rupiah (RM431.2mn), impacted by an 8.2% rise in interest expenses. Axis Real Estate Investment Trust will distribute RM8.8mn in net disposal gains from The Annex over three quarters, totalling 0.4 sen per unit and for 2QFY2025, it declared a dividend of 2.7 sen driven by a 20.5% rise in net income to RM47mn. Pantech Group Holdings Bhd reported a 1QFY2026 net profit of RM10.9mn, down over 50% from RM26.3mn a year earlier, due to weaker trading and manufacturing contributions, and a 13.7% revenue decline to RM220.7mn. Destini Bhd posted an RM8.4mn net profit in 4QFY2025, reversing a RM97.2mn loss, with revenue tripling to RM90.3mn, and expects double-digit earnings growth in FY2026. Ecofirst Consolidated Bhd 's 4QFY2025 net profit fell 66.5% to RM14mn due to lower fair value gains and higher costs, despite an 88.3% revenue surge to RM159.6mn from its KL48 project progress.
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S P Setia breaks ground on Setia Garden Residences in Ho Chi Minh City
From far left: Lai Thieu Ward's Leader Trương Công Thạch; Malaysia External Trade Development Corporation (MATRADE)'s Trade Commissioner Zaimah Osman, Consul General of Malaysia (Ho Chi Minh) Firdauz Othman; S P Setia's Chief Operating Officer Datuk Zaini Yusoff; S P Setia's President and CEO Datuk Choong Kai Wai, S P Setia Vietnam's General Director Sherman Kam, Phuoc Thanh Construction Corporation's Chairman Nguyen Hai Ho; Phuoc Thanh Construction Corporation's CEO Tran Tu Thanh and DPSCons Director Tran Van Cau, at S P Setia's groundbreaking ceremony for Setia Garden Residences at EcoXuan in Ho Chi Minh City, Vietnam on July 26, 2025. KUALA LUMPUR: S P Setia Bhd recently held a groundbreaking ceremony for its Setia Garden Residences project at EcoXuan in Ho Chi Minh City, Vietnam. The developer said the project is located within its EcoXuan township, in Bình Dương Province, in the urban area of Bình Dương Province, which is now part of Ho Chi Minh City.
The Star
23-07-2025
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Redefining Setia EcoHill 2's commercial landscape
An artist's impression of Setia EcoHill 2's Nadi 3A, which garnered a 70% take-up rate during its launch weekend. SETIA EcoHill 2, the sprawling 409ha (1,010-acre) freehold township in Semenyih, is transforming into a vibrant, sustainable community, with the latest additions to Setia Commerce Square. The successful launch of Nadi (Phase 3A), alongside landscape enhancements across the township, marks a pivotal moment in the development of a holistic community environment. As Klang Valley's Southern Corridor continues to evolve into the next hotspot for urban expansion, savvy investors are turning their attention to commercial development in Semenyih. Strategically located within the burgeoning Setia Commerce Square, Nadi 3A, alongside other Nadi phases, is envisioned as the central business district of the Setia EcoHill 2 master plan. Its development has garnered a 70% take-up rate during its launch weekend, highlighting the demand for versatile commercial spaces within the township's mature and steadily growing population. 'Buoyed by the overwhelming response to Nadi 3A, we are now preparing to roll out Nadi 3B, the final phase of shop-offices within Setia Commerce Square. Comprising another 44 units with the same sought-after layout, Nadi 3B is expected to launch in Q4 2025, at a slightly higher price point in line with increasing demand and market confidence,' said Setia EcoHill 2 divisional general manager Koh Sooi Meng. 'Our target demographic for Nadi is made up of business owners and brands that intend to expand their shops and operations within the residential catchment of Setia EcoHill 2 and its surrounding areas. 'The commercial development would also appeal to our loyalty programme of purchasers, known as Citizen Setia, who are looking into investment opportunities with S P Setia. We are confident that Nadi will add further value and vibrancy to the thriving Setia EcoHill 2.' An artist's impression of Nadi 3A, which will feature 1,144 parking bays for residents and visitors alike. Spanned across a 2.23ha (5.5-acre) freehold parcel, Nadi 3A has a gross development value of RM95.4mil. The development comprises 44 shop units, featuring 36 two-storey and eight three-storey shop offices, with built-ups ranging from 3,899sq ft to 8,365sq ft, and lot sizes between 26' x 75' and 42' x 75'. Prices for these commercial units range from RM1.79mil to RM3.8mil. Emerging retail opportunities Designed with businesses in mind — particularly F&B and retail establishments — the shop offices feature a generous 26-foot frontage with a column-free facade design, ensuring high visibility and accessibility for customers. Nadi 3A also prioritises convenience with 1,144 car parking bays and wide frontal walkways, promoting better inter-shop connectivity and a comfortable experience for visitors. Its ideal location within Setia Commerce Square promises long-term business sustainability, with upcoming key developments including a petrol station, corporate office buildings and a vibrant lifestyle F&B hub. Additionally, the strong flow of future businesses is secured by an existing captive market from surrounding matured township developments and a direct catchment of 5,470 upcoming apartment units nearby. Scheduled for completion by Q2 2028, Nadi 3A is set to become one of the most vibrant commercial districts serving the emerging Semenyih corridor. The development also benefits from excellent connectivity, situated next to the Lekas-EcoHill 2 Link, the main artery connecting Jalan Semenyih to the Kajang-Seremban (Lekas) Highway. Setia EcoHill 2 enjoys superb connectivity via major highways, making it an easily accessible and desirable location for businesses and residents alike. As part of Setia EcoHill 2, the Nadi commercial series is poised for robust growth, with 10,000 residential units to be completed by 2031. This includes access to the KL-Seremban North South Highway (PLUS), Kajang Dispersal Link Expressway (SILK), Lekas Highway, South Klang Valley Expressway (SKVE), Jalan Semenyih, Jalan Bangi Lama and East Klang Valley Expressway. As part of the RM5bil freehold of Setia EcoHill 2, the Nadi commercial series is poised for robust growth with 10,000 residential units slated for full development by 2035 in the mixed township. In line with its vision to create sustainable communities, S P Setia has recently undertaken significant enhancements to the landscapes and gardens at Setia EcoHill 2. The township is now even more enveloped in lush greenery, embracing its rich flora and fauna. The township is now even more enveloped in lush greenery, embracing its rich flora and fauna. With prices starting from RM1.79mil, Nadi 3A presents an attractive entry point within a promising commercial hub. Its strategic location within a rapidly growing township positions it well for long-term capital growth as demand and population density continue to rise. What further enhances its investment appeal is the attractive package by S P Setia, which absorbs legal fees and MOT, substantially reducing upfront costs. For investors seeking long-term gains, this creates significant room for capital appreciation, especially as Setia EcoHill 2 continues to gain traction and the population density increases. Book now to secure early-bird rebates and extra perks of the Setia Mad About Homes campaign, and stand a chance to win a serviced apartment at Temasya Prisma in Glenmarie, Shah Alam, valued at RM500,000. To find out more about Nadi 3A, contact 011-1289 4647 (Raisse) or visit Nadi 3 | Setia EcoHill 2. For additional info, visit the Setia EcoHill Welcome Centre at Club 360 in Semenyih for further assistance.
