The man behind SP Setia's success

The man behind SP Setia's success
By Chong Jin Hun

April 23 2007


EVER wondered how Malaysia's most valuable property firm SP Setia Bhd got its name?

The answer lies with its supremo Tan Sri Liew Kee Sin, who about 11 years ago, rose to helm the company. Over the years, SP Setia has earned its spurs as one of the most successful township builders in Malaysia.


"When I came in, the name was a mouthful - Syarikat Pembinaan Setia Bhd (SPSB). So, I changed it to SP Setia.


"How do you market something when the name is a mouthful? So, it was a paradigm shift," said Liew, who once co-owned a private property firm Syarikat Kemajuan Jerai Sdn Bhd (SKJ) with SP Setia's current chairman Tan Sri Abdul Rashid Abdul Manaf.


Liew, 49, joined SP Setia in 1996, initially as an executive director and subsequently assumed the post of chief executive officer (CEO) within the same year.


His entry followed the purchase of SKJ by SPSB in 1995. Hence, both Liew and Abdul Rashid received payment in the form of shares in SPSB.


SPSB was a second board construction entity on the then Kuala Lumpur Stock Exchange.


"On the first day I became the CEO, SP Setia's market capitalisation was about RM300 million," said Liew, a business administration graduate from Universiti Malaya.


SP Setia's market capitalisation stood at RM5.62 billion as at last Friday.


The CEO, a keen advocate of teamwork, attributes SP Setia's success today to the group's estimated 1,000 employees.


"No secret. The last 10 years, all my people are still with me. I always believe that a company is not made up of one man but a group of people," he said, when asked on his success recipe.


Work aside, Liew, the winner of financial magazine Asiamoney's 2005 Corporate Executive of the Year Award for Malaysia, enjoys travelling, and reading biographies of influential historical figures.


SP Setia's prowess had seen the company being named Best Property Developer in Malaysia for the second year running in 2006 by UK-based financial publication Euromoney's Real Estate Awards, among others.