SP Setia Berhad 's subsidiary, Setia(Hangzhou) Development Co Ltd. and Hang Ju Shen Construction Engineering Ltd. have terminated their joint venture contract for the development project of mix properties in Zhejiang, China.
Stated by SP Setia Bhd, it was due to the conditions set out on the JV had not been met and that the contract was conditional on getting the full approval from China's Ministry of Commerce.It was said that the termination of the contract is not expected to affect the future earnings of the company as it is only a small part of SP Setia's overall business.
SP Setia is a leading property developer in Malaysia known for its spectacular townships to commercial hubs developments. Learn more about SP Setia Bhd.
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