SP Setia – SEAL

SEALSetia Express Advance Loan, a scheme that enables eligible purchasers of Completed Property¹ to obtain a Differential Sum Loan (DSL) from S P Setia Technology Sdn Bhd² to finance the differential sum between the Purchase Price of the Completed Property¹ and the purchaser’s End Financing Loan (EFL) amount.

All new purchasers of Completed Property¹ particularly:

  • Upgraders who wish to access their EPF money for the purchase.
  • Upgraders who wish to sell off their current house after shifting to a new house.
  • Investors who have 3 or more property loans and need time to encash some profit from their investment to finance the purchase.


  • Execute the Sale & Purchase Agreement.
  • Settle the 1st 10% down payment.
  • Submit purchaser’s duly accepted Letter of Offer for the End Financing Loan (EFL) from Financial Institution³.
  • Obtain minimum End Financing Loan (EFL) margin of 60%.

Please submit a Differential Sum Loan (DSL) application form (available at Sales Gallery) to the Sales & Marketing Personnel.

Terms and conditions apply. 
¹ Participating Setia Property with CFO or CCC
² A wholly own subsidiary of S P Setia Berhad
³ Please check with the Developer on the End Financiers’ list



Contact 1-300-13-2255


S P Setia offers differential sum loan scheme to its buyers

SHAH ALAM (April 19): Property developer S P Setia Bhd has launched a differential sum loan scheme that offers interest rates from 5.5% per annum and up to 30% of the intended property purchase price.

The developer, which has obtained a money lending licence from the Ministry of Urban Wellbeing, Housing and Local Government recently, launched the loan scheme called the Setia Express Advance Loan (SEAL) at Setia City Convention Centre today.

The scheme offers a 36-month repayment period with no penalty charge to be imposed on buyers if they choose to settle their loan amount earlier.

“Rest assured that S P Setia has no intention to go into the Ah Long business. Property development will remain our core and only business,” said S P Setia president and CEO Datuk Khor Chap Jen after the launch.

The scheme aims to provide buyers with greater financial flexibility, he said.

“SEAL helps buyers bridge the gap between the purchase price and the end-financing loan amount while providing them with a measure of comfort and assurance. They will have more time and options to arrange for alternative financing should they wish, such as accessing their EPF savings or to unlock other assets to fund the differential sum,” he added.

SEAL is only applicable to purchasers of S P Setia’s completed projects, which includes the Nusantara Seties at Setia Eco Park, Tralas at Setia Ecohill, The Circle Collection at Setia Alam, Setia Business Park II, The Glitz @ Caranday at Setia Tropika (Johor), D’Fronde and Skyloft at Bukit Indah (Johor), and Pearl Villas at Setia Pearl Island (Penang).

To be eligible for the scheme, purchasers must sign the Sale & Purchase Agreement, pay a 10% downpayment, and would have accepted a Letter of Offer for their end financing loan from the respective financial institution.

Khor noted that S P Setia is not trying to make big profit from the scheme as the 5.5% interest rate is for the company to cover its borrowing cost.

“I believe the response to SEAL will be good and it will help us to achieve our RM4 billion sales target this year,” he said.

SP Setia offers differential sum loan scheme

SP Setia has launched its differential sum loan scheme, Setia Express Advance Loan (SEAL), to particularly cater to buyers who wish to upgrade their homes, or require time to encash profit from other investments.

In response to market challenges and providing financial flexibility, SEAL offers interest rates as low as 5.5% per annum, and up to 30% of the intended property purchase price.

Speaking after the launch of SEAL, SP Setia CEO and president Datuk Khor Chap Jen said that SEAL’s three-year tenure would enable buyers to have more time and options to arrange for alternative financing, such as accessing their Employees Provident Fund savings or unlocking other assets to fund the differential sum.

“At times, the loan margins approved by banks may not meet the needs of home buyers.

“During the first three years under SEAL, buyers will only be required to pay the interest rate,” he said.

SEAL is only available for completed SP Setia projects.

Furthermore, there will be no penalty charge imposed on buyers who choose to settle their loan amounts earlier.

In order to be eligible for SEAL, the purchaser must have signed the sale and purchase agreement, paid the 10% down payment and accepted the letter of offer for their end-financing loan from their respective financial institutions.

Khor assured that SEAL would not cause any additional pressure on the group’s bottomline, as the 5.5% interest rate charged is sufficient to cover the cost of borrowing and no losses or large profits will be made from this scheme.

“We want to help our buyers purchase homes; we are not replacing banks.

“At the end of the day, we make profits from selling houses; we are not in the business of lending money to make money,” he added.

SEAL will not impact SP Setia’s gearing ratio, as the group will deploy funds from its existing bank borrowings and cash in hand, which amounted to RM4.07bil as of Dec 31, 2016.

Meanwhile, Khor said that SP Setia would continue sourcing for land bank, despite the group’s proposed acquisition of Island & Peninsular Group Sdn Bhd (I&P), which comes with an additional land bank of 4,263 acres.

Khor declined to divulge further details on the group’s future plans in regards to I&P, as the group will present a definitive plan for I&P in three months’ time.



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