S P SETIA Maintains Positive Outlook Amid Government’s Fuel Subsidy Rationalisation

PropertyGuru

9 June 2024 at 6:50 pm·1-min read

S P SETIA Maintains Positive Outlook Amid Government’s Fuel Subsidy Rationalisation

SHAH ALAM – S P Setia Berhad (“Setia” or “the Group”) has evaluated the potential impact of the government’s recent fuel subsidy rationalisation announcement on our operations and overarching cost framework.

Our findings indicate that the direct impact on our business operations should be minimal as Setia’s operations are not directly reliant on subsidised diesel. Nevertheless, we recognise the possibility of knock-on effects within the broader supply chain.

In response, Datuk Choong Kai Wai, President & CEO, underscores Setia’s emphasis on cost control and operational efficiency to foster sustainable growth through these economic shifts. The company is streamlining its supply chain and embracing digital and renewable solutions to optimise costs and environmental impact.

Setia’s holistic strategy includes proactive stakeholder communication, ensuring resilience in a changing economic environment. “We continue to monitor market trends diligently, with our strategic focus on keeping Setia’s operations insulated from immediate volatility and securing sustainable advancement amidst the shifting economic landscape,” he added.

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