1.0 Background of Company
1.1 Farlim Group (Malaysia) Bhd
Farlim Group (Malaysia) Bhd is a company mainly focus in property and development. It was
founded in the year 1982. However, when the company was founded, it was named Perumahan
Farlim (Malaysia) Sdn. Bhd. The name was changed to Farlim Group (Malaysia) Bhd when it was
listed on Bursa Malaysia in 1995. Other than property development, Farlim Group also involve
themselves in investment holding, marketing and distribution of building material. Over the years
Farlim Group’s business, they have achieved quite a lot. For example, The Prime Minister’s 1990
Quality Award, 1992 Malaysia Institute of Planners Award, and champion for 2011 Jabatan Kerja
Raya Contractors Excellence Award. Up until today, there are many projects that was completed
by Farlim Group, among them are Bandar Baru Ayer Itam at Penang Island. Bandar Baru Ayer
Itam is a very successful township in Penang as it has sold 13,108 units at total price of RM1.30
Billion. With the vast lands that they own, they are planning to build more quality homes for people.
The mission statement of Farlim Group is “Reliability, Affordability and Enhanced Value”. Farlim
Group believes that the property they built are not just houses, but homes to many. They also seek
to build an integrated communities. Lastly, they also want to help homebuyers to achieve a long-
term financial stability in an eco-friendly environment. For their vision, they seek to capitalize the
opportunities in international markets in order to create a balanced ecosystem and sustainable
communities worldwide. Farlim Group also have their own Codes of Conduct and Ethics. In it,
stated the objective of the Code of Conduct and Ethics, responsibility of principles and
managements. It is a good way that a company encourage this to its employees as it may create a
friendly and close relationship between employees. It is also encouraged to report if anyone
suspects a violation in the Code of Conduct and Ethics.
1
,1.2 S P Setia Berhad
S P Setia Berhad is a company that operates in business type of property development, construction
and infrastructure, wood-based manufacturing and trading businesse. It was founded by Liew Kee
Sin who is a famous property development figure. The company engages mainly through three
segments which are property development, property investment and other businesses. For the
segment of property development, S P Setia Berhad had influenced the skyline of Malaysia states
such as Penang, Selangor, Johor and Kota Kinabalu. Besides that, they had successfully expanded
their business scope to China, Japan, Vietnam, Singapore, Australia and United Kingdom.
Furthermore, as a property development and investment company, S P Setia Berhad maximize the
returns and strengthen their real estate portfolio by discovering opportunities and venturing into
hotels, shopping malls and so on. After establishing a reputation in the property sector, the
company also branched out through affiliated businesses. For instance, Setia Precast is one of the
branches of the company which is a general building contractor and responsible for the
development for Malaysia’s landmark building. For the other branch is Setia Wood Industries
which operates as preferred supplier of wood components in Asia-Pacific, renowned for its product
range and quality. The vision of S P Setia Berhad is “To be the best in all we do”. There are several
mission of the company, firstly they wish to provide superior customer service and satisfy
customer needs through culture of excellence. Besides, they want to enhance shareholder’s value.
They also aim to be a caring and responsible employer. Lastly, they want to be mindful of our
social responsibilities. The company has a very good culture in the employer team as they are
fueled by passion, integrity, teamwork and will never stop striving to succeed, to grow and to do
better.
2
, 2.0 Financial Ratios
Current Ratio
Year 2016 2017 2018
Company
Farlim Group Berhad 9.12 9.17 10.10
S P Setia Berhad 2.17 1.43 1.97
Quick Ratio
Farlim Group Berhad 9.06 9.03 7.77
S P Setia Berhad 1.97 1.23 1.67
Inventory Turnover
Farlim Group Berhad 22.42 5.16 0.09
S P Setia Berhad 4.00 1.77 1.58
Average Collection Period
Farlim Group Berhad 50.43 31.97 71.18
S P Setia Berhad 50.83 79.62 85.41
Average Payment Period
Farlim Group Berhad 55.34 74.16 529.12
S P Setia Berhad 141.57 189.56 254.97
Total Asset Turnover
Farlim Group Berhad 0.23 0.14 0.055
S P Setia Berhad 0.27 0.16 0.12
Debt Ratio
Farlim Group Berhad 0.08 0.068 0.063
S P Setia Berhad 0.45 0.50 0.47
Debt-to-equity Ratio
Farlim Group Berhad 8.64% 7.25% 6.69%
S P Setia Berhad 82.46% 100.92% 89.03%
Time Interest Earned Ratio
Farlim Group Berhad 855.58 400.41 -19.81
S P Setia Berhad 10.85 10.26 5.78
3
1.1 Farlim Group (Malaysia) Bhd
Farlim Group (Malaysia) Bhd is a company mainly focus in property and development. It was
founded in the year 1982. However, when the company was founded, it was named Perumahan
Farlim (Malaysia) Sdn. Bhd. The name was changed to Farlim Group (Malaysia) Bhd when it was
listed on Bursa Malaysia in 1995. Other than property development, Farlim Group also involve
themselves in investment holding, marketing and distribution of building material. Over the years
Farlim Group’s business, they have achieved quite a lot. For example, The Prime Minister’s 1990
Quality Award, 1992 Malaysia Institute of Planners Award, and champion for 2011 Jabatan Kerja
Raya Contractors Excellence Award. Up until today, there are many projects that was completed
by Farlim Group, among them are Bandar Baru Ayer Itam at Penang Island. Bandar Baru Ayer
Itam is a very successful township in Penang as it has sold 13,108 units at total price of RM1.30
Billion. With the vast lands that they own, they are planning to build more quality homes for people.
The mission statement of Farlim Group is “Reliability, Affordability and Enhanced Value”. Farlim
Group believes that the property they built are not just houses, but homes to many. They also seek
to build an integrated communities. Lastly, they also want to help homebuyers to achieve a long-
term financial stability in an eco-friendly environment. For their vision, they seek to capitalize the
opportunities in international markets in order to create a balanced ecosystem and sustainable
communities worldwide. Farlim Group also have their own Codes of Conduct and Ethics. In it,
stated the objective of the Code of Conduct and Ethics, responsibility of principles and
managements. It is a good way that a company encourage this to its employees as it may create a
friendly and close relationship between employees. It is also encouraged to report if anyone
suspects a violation in the Code of Conduct and Ethics.
1
,1.2 S P Setia Berhad
S P Setia Berhad is a company that operates in business type of property development, construction
and infrastructure, wood-based manufacturing and trading businesse. It was founded by Liew Kee
Sin who is a famous property development figure. The company engages mainly through three
segments which are property development, property investment and other businesses. For the
segment of property development, S P Setia Berhad had influenced the skyline of Malaysia states
such as Penang, Selangor, Johor and Kota Kinabalu. Besides that, they had successfully expanded
their business scope to China, Japan, Vietnam, Singapore, Australia and United Kingdom.
Furthermore, as a property development and investment company, S P Setia Berhad maximize the
returns and strengthen their real estate portfolio by discovering opportunities and venturing into
hotels, shopping malls and so on. After establishing a reputation in the property sector, the
company also branched out through affiliated businesses. For instance, Setia Precast is one of the
branches of the company which is a general building contractor and responsible for the
development for Malaysia’s landmark building. For the other branch is Setia Wood Industries
which operates as preferred supplier of wood components in Asia-Pacific, renowned for its product
range and quality. The vision of S P Setia Berhad is “To be the best in all we do”. There are several
mission of the company, firstly they wish to provide superior customer service and satisfy
customer needs through culture of excellence. Besides, they want to enhance shareholder’s value.
They also aim to be a caring and responsible employer. Lastly, they want to be mindful of our
social responsibilities. The company has a very good culture in the employer team as they are
fueled by passion, integrity, teamwork and will never stop striving to succeed, to grow and to do
better.
2
, 2.0 Financial Ratios
Current Ratio
Year 2016 2017 2018
Company
Farlim Group Berhad 9.12 9.17 10.10
S P Setia Berhad 2.17 1.43 1.97
Quick Ratio
Farlim Group Berhad 9.06 9.03 7.77
S P Setia Berhad 1.97 1.23 1.67
Inventory Turnover
Farlim Group Berhad 22.42 5.16 0.09
S P Setia Berhad 4.00 1.77 1.58
Average Collection Period
Farlim Group Berhad 50.43 31.97 71.18
S P Setia Berhad 50.83 79.62 85.41
Average Payment Period
Farlim Group Berhad 55.34 74.16 529.12
S P Setia Berhad 141.57 189.56 254.97
Total Asset Turnover
Farlim Group Berhad 0.23 0.14 0.055
S P Setia Berhad 0.27 0.16 0.12
Debt Ratio
Farlim Group Berhad 0.08 0.068 0.063
S P Setia Berhad 0.45 0.50 0.47
Debt-to-equity Ratio
Farlim Group Berhad 8.64% 7.25% 6.69%
S P Setia Berhad 82.46% 100.92% 89.03%
Time Interest Earned Ratio
Farlim Group Berhad 855.58 400.41 -19.81
S P Setia Berhad 10.85 10.26 5.78
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